Online Education Market by Type and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR43516
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The online education market share is expected to increase by USD 247.46 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of over 18%.

This online education market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (primary and secondary supplemental education, reskilling and online certifications, higher education, test preparation, and language and casual learning) and geography (North America, APAC, Europe, South America, and MEA). The online education market report also offers information on several market vendors, including 2U Inc., Ambow Education Holding Ltd., Coursera Inc., edX Inc., iTutorGroup, LinkedIn Corp., McGraw-Hill Education Inc., Pearson Plc, Udacity Inc., and Udemy Inc. among others.

What will the Online Education Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Online Education Market Size for the Forecast Period and Other Important Statistics

 

Online Education Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing advantages of online learning is notably driving the online education market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online education industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Online Education Market Driver

One of the key factors driving growth in the online education market is the growing advantages of online learning. Owing to the high cost and limited accessibility associated with traditional printed textbooks, educational institutions are increasingly focusing on online education. Vendors also provide audio-visual content and simulation learning platforms, which can be customized as per the school’s curriculum. The availability of various support solutions, such as learning management solution (LMS) and enterprise resource planning (ERP), as well as augmented reality (AR), virtual reality (VR), blended learning solutions, and student assessment software, has further played a major role in enhancing the demand for online education by various schools and universities. 

Online Education Market Trend

The growing popularity of education apps is one of the key trends supporting the online education market share growth. Educational apps are witnessing significant traction in diverse learning experiences, such as teaching children with disabilities. With education apps, these children can access a range of content, using the built-in features of devices. There are also many apps in areas such as text-to-speech reading, dyslexia, ADHD, and autism.
Institutions in the higher education segment use apps for activities such as assessments, the distribution of educational content, and the sharing of schedules. Furthermore, technological developments such as AR and VR have resulted in the evolution of numerous learning apps, especially for students pursuing education in subjects such as medical science and engineering, which require extensive practical learning. 

Online Education Market Challenge

One of the key challenges affecting the growth of the e-learning and online education market is cybersecurity. With the increased digitization of education, the threats related to information security, unwarranted access, and student data privacy have increased. The key reasons for the vulnerability of the educational sector to cyberattacks include the availability of valuable user and organizational data, the lack of a centralized structure for data storage, and the unregulated use of personal digital devices. 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 IT. Hence, the inadequacy of the cybersecurity measures adopted by educational institutions and individual learners is expected to hamper the growth of the global online education market during the forecast period.

This online education market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the online education market as a part of the global education services market. The parent market, the global education services industry, covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in focus during the forecast period.

The global education services market was valued at USD 9,214.61billion in 2019 and is expected to grow at a moderate pace. Technavio calculates the global education services market size based on the combined revenues generated by manufacturers/providers of equipment, software, teaching materials, solutions, and services. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in focus during the forecast period.

Who are the Major Online Education Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 2U Inc.
  • Ambow Education Holding Ltd.
  • Coursera Inc.
  • edX Inc.
  • iTutorGroup
  • LinkedIn Corp.
  • McGraw-Hill Education Inc.
  • Pearson Plc
  • Udacity Inc.
  • Udemy Inc.

 

This statistical study of the online education market encompasses successful business strategies deployed by the key vendors. The online education market is fragmented and the vendors are deploying growth strategies such as product/service extensions, technological innovations, and M&As to compete in the market.

Product Insights and News

  • 2U Inc. -  In May 2019, the company announced the acquisition of Trilogy Education Services Inc., a workforce accelerator that prepares adult learners for high-growth careers in the digital economy. 
  • Ambow Education Holding Ltd. - In March 2019, the company announced that it had entered into a partnership with the International Technological University (ITU) to bring ITU's technology-focused curriculum and faculty to Ambow students throughout China. 
  • Coursera Inc. - In August 2019, the company announced the launch of Coursera Labs, a new capability that allows partners to create hands-on projects using almost any third-party software application.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The online education market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Online Education Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the online education market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of leisure products includes the following components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovations

The report has further elucidated on other innovative approaches such as the integration of AR and VR technology to personalize online learning being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Online Education Market?

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34% of the market’s growth will originate from APAC during the forecast period. China is a key market for online education in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The presence of a large consumer base, increasing awareness about online courses, growing Internet penetration, the adoption of smartphones, the increasing emphasis on technology by educational institutions, and favorable government initiatives will facilitate the online education market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Online Education Market?

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The online education market share growth by the primary and secondary supplemental education segment will be significant during the forecast period. This segment includes online learning for students enrolled in primary and secondary classes. The online channel delivers a conducive educational environment to students who are in favor of individual high-quality learning. This segment is expected to witness high growth owing to the factors such as the growing interest of students for the detailed understanding of subjects and increased awareness among the students regarding the availability of such a mode of education, especially in developing countries. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the online education market size and actionable market insights on post COVID-19 impact on each segment.

 

Online Education Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 18%

Market growth 2020-2024

$ 247.46 billion

Market structure

Fragmented

YoY growth (%)

17.59

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Germany, UK, France, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies

2U Inc., Alef Education Consultancy LLC, Ambow Education Holding Ltd., Bloc Inc., Cengage Learning Holdings II Inc., Coursera Inc., edX Inc., General Assembly Space Inc, Instructure Inc., ITS EDUCATION ASIA, iTutorGroup, iversity Learning Solutions GmbH, LinkedIn Corp., McGraw-Hill Education Inc., Pearson Plc, Pluralsight Inc., Sorting Hat Technologies Pvt. Ltd., Think & Learn Pvt. Ltd., Udacity Inc., Udemy 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, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Online Education Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive online education market growth during the next five years
  • Precise estimation of the online education market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online education industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online education market vendors

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1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01:  Parent market

                                Exhibit 02:  Market Characteristics

                2.2 Value chain analysis           

                                Exhibit 03:  Value chain analysis: Education services

                                2.2.1 Inputs 

                                2.2.2 Operations

                                2.2.2.1 Pitching and profiling

                                2.2.2.2 Resourcing and communicating

                                2.2.2.3 Delivery and support

                                2.2.2.4 Connecting and innovating

                                2.2.3 Marketing and sales 

                                2.2.4 Support activities

                                2.2.5 Innovations

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 04:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 05:  Market segments

                3.3 Market size 2019 

                3.4 Market outlook: Forecast for 2019 - 2024 

                                Exhibit 06:  Global - Market size and forecast 2019 - 2024 ($ billion)

                                Exhibit 07:  Global market: Year-over-year growth 2019 - 2024 (%)

4. Five Forces Analysis                          

                4.1     Five forces summary      

                                Exhibit 08:  Five forces analysis 2019 & 2024

                4.2 Bargaining power of buyers           

                                Exhibit 09:  Bargaining power of buyers

                4.3 Bargaining power of suppliers       

                                Exhibit 10:  Bargaining power of suppliers

                4.4 Threat of new entrants    

                                Exhibit 11:  Threat of new entrants

                4.5 Threat of substitutes         

                                Exhibit 12:  Threat of substitutes

                4.6 Threat of rivalry   

                                Exhibit 13:  Threat of rivalry

                4.7 Market condition

                                Exhibit 14:  Market condition - Five forces 2019

5. Market Segmentation by Type                     

                5.1 Market segments

                The segments covered in this chapter are: 

  • Primary and secondary supplemental education
  • Reskilling and online certifications
  • Higher education
  • Test preparation
  • Language and casual learning

                                Exhibit 15:  Type - Market share 2019-2024 (%)

                5.2 Comparison by type           

                                Exhibit 16: ​Comparison by type

                5.3 Primary and secondary supplemental education - Market size and forecast 2019-2024          

Exhibit 17:  Primary and secondary supplemental education - Market size and forecast 2019-2024 ($ billion)

Exhibit 18:  Primary and secondary supplemental education - Year-over-year growth 2019-2024 (%)

                5.4 Reskilling and online certifications - Market size and forecast 2019-2024     

Exhibit 19:  Reskilling and online certifications - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 20:  Reskilling and online certifications - Year-over-year growth 2019-2024 (%)

                5.5 Higher education - Market size and forecast 2019-2024      

                                Exhibit 21:  Higher education - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 22:  Higher education - Year-over-year growth 2019-2024 (%)

                5.6 Test preparation - Market size and forecast 2019-2024        

                                Exhibit 23:  Test preparation - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 24:  Test preparation - Year-over-year growth 2019-2024 (%)

                5.7 Language and casual learning - Market size and forecast 2019-2024              

Exhibit 25:  Language and casual learning - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 26:  Language and casual learning - Year-over-year growth 2019-2024 (%)

                5.8 Market opportunity by type           

                                Exhibit 21:   Market opportunity by type

6. Customer landscape                         

Technavio’s customer landscape matrix comparing Drivers of price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rates and Key purchase criteria

                                Exhibit 28:  Customer landscape

7. Geographic Landscape                     

                7.1 Geographic segmentation

                ​​The regions covered in the report are: 

  • North America
  • APAC
  • Europe
  • South America
  • MEA

The segments have been ranked based on their market size in 2019. North America constituted the largest segment in 2019, followed by APAC, Europe, South America, and MEA. The 2019 market position of all the segments will likely remain the same in 2024.

                                Exhibit 29:  Market share by geography 2019-2024 (%)

                7.2 Geographic comparison   

                                Exhibit 30:  Geographic comparison

                7.3     North America - Market size and forecast 2019-2024       

                                Exhibit 31:  North America - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 32:  North America - Year-over-year growth 2019-2024 (%)

                7.4 APAC - Market size and forecast 2019-2024              

                                Exhibit 33:  APAC - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 34:  APAC - Year-over-year growth 2019-2024 (%)

                7.5 Europe - Market size and forecast 2019-2024          

                                Exhibit 35:  Europe - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 36:  Europe - Year-over-year growth 2019-2024 (%)

                7.6 South America - Market size and forecast 2019-2024           

                                Exhibit 37:  South America - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 38:  South America - Year-over-year growth 2019-2024 (%)

                7.7 MEA - Market size and forecast 2019-2024               

                                Exhibit 39:  MEA - Market size and forecast 2019-2024 ($ billion)

                                Exhibit 40:  MEA - Year-over-year growth 2019-2024 (%)

                7.8 Key leading countries        

                                Exhibit 41: Key leading countries

                7.9 Market opportunity by geography

                                Exhibit 42:  Market opportunity by geography ($ billion)

8. Drivers, Challenges, and Trends                   

                8.1     Market drivers 

                                8.1.1 Growing advantages of online learning

                                8.1.2    Outbreak of COVID -19 globally

                                8.1.3 Rapid penetration of Internet-enabled devices

                8.2     Market challenges          

                                8.2.1    Inadequate cybersecurity measures

                                8.2.2 Limited demand from developing economies

                                8.2.3   Accreditation and recognition issue with online certificates

                                Exhibit 43:  Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1 Growing popularity of education apps

                                8.3.2 Growing government initiatives to support digital education

                                8.3.3    Emergence of virtual schools

9. Vendor Landscape                             

                9.1     Overview          

                9.2     Vendor landscape          

                                Exhibit 44:  Vendor landscape

                9.2     Landscape disruption   

The potential for the disruption of the market landscape was moderate in 2019, and its threat is expected to remain unchanged by 2024.

                                Exhibit 45:  Landscape disruption

                                Exhibit 46:  Industry risks

10. Vendor Analysis               

                10.1  Vendors covered           

                                Exhibit 47:  Vendors covered

                10.2 Market positioning of vendors    

                                Exhibit 48:  Market positioning of vendors

                10.3 2U Inc.

                                Exhibit 49:  2U Inc. - Overview

                                Exhibit 50:  2U Inc. - Business segments

                                Exhibit 51:  2U Inc. - Key news

                                Exhibit 52:  2U Inc. - Key offerings

                                Exhibit 53:  2U Inc. - Segment focus

                10.4 Ambow Education Holding Ltd.   

                                Exhibit 54:  Ambow Education Holding Ltd. - Overview

                                Exhibit 55:  Ambow Education Holding Ltd. - Business segments

                                Exhibit 56:  Ambow Education Holding Ltd. - Key news

                                Exhibit 57:  Ambow Education Holding Ltd. - Key offerings

                                Exhibit 58:  Ambow Education Holding Ltd. - Segment focus

                10.5 Coursera Inc.      

                                Exhibit 59:  Coursera Inc. - Overview

                                Exhibit 60:  Coursera Inc. - Product and service

                                Exhibit 61:  Coursera Inc. - Key news

                                Exhibit 62:  Coursera Inc. - Key offerings

                10.6 edX Inc.

                                Exhibit 63:  edX Inc. - Overview

                                Exhibit 64:  edX Inc. - Service

                                Exhibit 65:  edX Inc. - Key news

                                Exhibit 66:  edX Inc. - Key offerings

                10.7 iTutorGroup       

                                Exhibit 67:  iTutorGroup - Overview

                                Exhibit 68:  iTutorGroup - Service

                                Exhibit 69:  iTutorGroup - Key offerings

                10.8 LinkedIn Corp.   

                                Exhibit 70:  LinkedIn Corp. - Overview

                                Exhibit 71:  LinkedIn Corp. - Service

                                Exhibit 72:  LinkedIn Corp. – Key news

                                Exhibit 73:  LinkedIn Corp. - Key offerings

                10.9 McGraw-Hill Education Inc.          

                                Exhibit 74:  McGraw-Hill Education Inc. - Overview

                                Exhibit 75:  McGraw-Hill Education Inc. - Business segments

                                Exhibit 76:  McGraw-Hill Education Inc. - Key offerings

                                Exhibit 77:  McGraw-Hill Education Inc. - Segment focus

                10.10 Pearson Plc       

                                Exhibit 78:  Pearson Plc - Overview

                                Exhibit 79:  Pearson Plc - Business segments

                                Exhibit 80:  Pearson Plc - Key news

                                Exhibit 81:  Pearson Plc - Key offerings

                                Exhibit 82:  Pearson Plc - Segment focus

                10.11 Udacity Inc.      

                                Exhibit 83:  Udacity Inc. - Overview

                                Exhibit 84:  Udacity Inc. - Service

                                Exhibit 85:  Udacity Inc. - Key news

                                Exhibit 86:  Udacity Inc. - Key offerings

                10.12 Udemy Inc.       

                                Exhibit 87:  Udemy Inc. - Overview

                                Exhibit 88:  Udemy Inc. - Service

                                Exhibit 89:  Udemy Inc. - Key news

                                Exhibit 90:  Udemy Inc. - Key offerings

11. Appendix                            

                11.1 Scope of the report         

                                11.1.1 Market definition

                                11.1.2 Objectives

                                11.1.3 Notes and caveats

                11.2 Currency conversion rates for US$            

                                Exhibit 91:  Currency conversion rates for US$

                11.3 Research methodology  

                                Exhibit 92:  Research Methodology

                                Exhibit 93:  Validation techniques employed for market sizing

                                Exhibit 94:  Information sources

                11.4 List of abbreviations        

                                Exhibit 95:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The online education market growth will increase by $247.46 billion during 2019-2024.
The online education market is expected to grow at a CAGR of 17.81% during 2019-2024.
Technavio has segmented the online education market by type (PSSE, ROC, Higher education, Test preparation, and LCL) and geographic (North America, APAC, Europe, South America, and MEA).
2U Inc., Ambow Education Holding Ltd., Coursera Inc., edX Inc., iTutorGroup, LinkedIn Corp., McGraw-Hill Education Inc., Pearson Plc, Udacity Inc., Udemy Inc. are a few of the key vendors in the online education market.
APAC will register the highest growth rate of 34.41% among the other regions. Therefore, the online education market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • UK
  • France
  • Canada
The key factors driving the online education market growth are:
  • Growing advantages of online learning
The online education market vendors should focus on grabbing business opportunities from the psse segment as it accounted for the largest market share in the base year.
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