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The alternative non credential courses market size is estimated to grow at a CAGR of 17.18% between 2022 and 2027. The market size is forecast to increase by USD 8.62 billion. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by type (non-institutional and institutional) and geography (North America, Europe, APAC, South America, and Middle East and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
The emergence of virtual schools is the key factor driving the growth of the global alternative non credential courses market. Recently, it has been observed that virtual schools are becoming more popular. This phenomenon is gaining momentum, especially in developed countries such as the United States and the United Kingdom. The virtual school uses a variety of online tools such as B. Online content and delivery formats. Content can be presented to students in the form of videos, animations, games, and audio. Moreover, such technologies are helping institutions run virtual learning classrooms. The rising penetration of cloud technology in education is facilitating the management of every aspect of the institution. Hence, all these factors are expected to support the adoption of virtual schools and subsequently accelerate the growth of the global alternative non-credential courses market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Boston University: The company offers alternative non credential courses such as MS in Applied Business Analytics, and MS in Supply Chain Management.
The alternative non credential courses market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
North America is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Universities in the region are extensively experimenting with a number of educational technology products and services. These institutions are emphasizing the introduction of new forms of teaching and learning after online platforms penetrate the North American education industry. Many universities and colleges are focused on integrating products and tools that improve the quality of education.
Moreover, using ed-tech products and solutions does not improve the quality of education. With this in mind, the institution accompanies such assignments with changes in learning and assessment. This may be reflected in the massive adoption of classroom experiential learning, flipped classrooms, blended learning, and active learning. All of these steps are taken to make learning more student-centered, giving students the flexibility to choose their own method and pace of learning, which will increase the market growth during the forecast period.
The non-institutional segment is estimated to witness significant growth during the forecast period. There are a variety of non-educational institutions, including Massive Open Online Courses (MOOCs) and industry-accredited programs that offer alternative courses without certification. In recent years, online education providers have started offering non-degree certificates to learners. Many alternative non-accredited course providers offer digital badges and various certificates that can highlight learners' skills and achievements. These non-traditional forms of credentials are being accepted in all companies, which will fuel further growth of the global alternative non credential courses market during the forecast period.
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The non-institutional segment was valued at USD 1.94 billion in 2017 and continued to grow by 2021. In this segment, the providers of MOOCs help students achieve their professional and educational goals. The growing number of MOOCs and the growing number of professionals who develop content for his MOOCs for free has led to a growing subscriber base for non-qualified alternative courses. MOOC content is developed by leading professors from universities around the world, so the quality of learning content is highly reliable and a major driver of the non-educational segment. Therefore, the non-institutional segment of the global non-qualification alternative courses market is expected to grow in these regions during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rapid penetration of Internet-enabled devices is the primary trend in the global alternative non credential courses market growth. The rapid adoption of mobile phones and tablets and growing consumer demand for personalized learning are placing an increasing emphasis on online education. Several vendors in the global non-qualification alternative course market offer smartphone-compatible audiovisual and text content. Learners and educational institutions prefer online content over traditional printed textbooks because of the low cost of acquiring content and the ease of accessing content on the go. Educational institutions are encouraging students to bring their own digital devices to access digital education content.
Moreover, several companies are increasingly assisting educational institutions in developing and enhancing digital library systems through cloud computing. With the speedy development of major infrastructure in emerging economies such as China and India, the education system in these countries is increasingly rivaling developed economies such as the US and the UK. Hence, the adoption of smartphone devices as a preferred platform for educational content is expected to boost the growth of the global alternative non credential courses market during the forecast period.
Inadequate cybersecurity measures are a major challenge to the growth of the global alternative non credential courses market. Cybersecurity refers to the protection of the software and hardware of digital systems as well as the data that feeds into digital systems. As education becomes more digital, threats related to information security, unauthorized access, and student privacy are increasing. Key reasons for the education sector's vulnerability to cyberattacks include the availability of valuable user and organizational data, lack of centralized data storage structures, and unregulated use of personal digital devices.
However, the major sources of cybersecurity threats to educational content include malware viruses, such as WannaCry, through social media, the virtualization of systems, and the consumerization of Information Technology (IT). Hence, the inadequacy of the cybersecurity measures adopted by educational institutions and individual learners is expected to hamper the growth of the global alternative non credential courses market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Alternative Non Credential Courses Market Customer Landscape
During the COVID-19 pandemic, in the second quarter of 2020, vendors operating in the overall alternative non credential courses market in the US witnessed extensive competition from vendors offering free digital education publishing services for almost all subjects. Moreover, till the end of 2022, the regional market is expected to grow in terms of generating more enrolments on vendor platforms, where vendors are expected to compromise on profit margins and focus on increasing their customer base. Offering access to learners at an affordable cost makes learners habitual to online alternative non credential courses and leads to a permanent paid subscription after the COVID-19 pandemic is controlled in North America. However, the market is expected to also grow depending on the factor that populations will get habitual, and hence, the demand will continue to grow during the forecast period.
The alternative non credential courses market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Alternative Non Credential Courses Market Scope |
|
Report Coverage |
Details |
Page number |
141 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.18% |
Market growth 2023-2027 |
USD 8.62 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.51 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 56% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Blue Mountain Community College, Boston University, Colorado State University, Columbia University, Elmira College, Harvard University, Michigan Technological University, Montgomery College, New York University, Southern New Hampshire University, Stanford University, Temple University, Tennessee Tech, University of Arkansas, University of Cape Town, University of Illinois, University of Pennsylvania, University of Southern Indiana, University System of New Hampshire, Yale University, Wake Technical Community College, and New York Institute of Finance Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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