The COVID-19 pandemic has changed the dynamics of numerous sectors to a large extent. The novel coronavirus outbreak has prompted an unprecedented shift to online teaching at various institutions around the globe. Thus, taking into consideration the various growth factors, the global MOOC (Massive Open Online Courses) market is expected to display expansive growth across the forecast period of 2024-2030.
Massive open online courses are distant learning courses that can be accessed over the web by a large populace. These courses also provide a certificate of completion at minimal prices after the course is complete.
The global MOOC market report provides a systematic study to the stakeholder on numerous parameters of growth such as competitive scenario, regional assessment, and notable trends. The researchers have closely studied and monitored the COVID-19 impact on the MOOC market and have been inculcated in the report. Furthermore, the report also highlights the pain points so that the stakeholder can design the business strategy accordingly.
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MOOC ((Massive Open Online Course) Market: Competitive Scenario
The MOOC market comprises numerous players that invite considerable competition. The players in the MOOC market are trying to upgrade their services and features to facilitate a seamless experience for the end-user. The government support for the efficient functioning of MOOCs through expanding broadband connectivity across remote and rural regions is also bringing considerable growth opportunities for the MOOC market to magnify its consumer base.
Collaborations and partnerships with renowned organizations are important for the players in the MOOC market to imply quality training and teaching. For instance, IBM and National Skill Development Corporation have joined hands to provide training on emerging technologies such as Blockchain, Artificial Intelligence (AI), and machine learning. Such developments bring extensive growth opportunities.
MOOC Market: Well-Established Participants
- Open2Study
- Coursera
- edX
- Edureka
- Intellipaat
- Skillshare
- Khan Academy
- Kadenze
- XuetangX
- Pluralsight
MOOC Market: Recent Investments
Novel investments are seeping in the MOOC market due to the growing influence of online learning across the globe. Coursera enrolments have recorded a rise of a staggering 640 percent from mid-March to mid-April in 2024 as compared to the same period in 2019. The SARS-CoV-2 outbreak has led a considerable populace to stay-at-home and online courses are gaining substantial traction. This has resulted in generating interest among a plethora of investors. Here are some important developments regarding investments.
- DST Global is in talks with Byju, an Indian online education startup in regards to an investment of $400 mn
- Coursera raised an additional $130 mn investment due to the boost in massive open online courses during the pandemic
- Arkademi recently obtained an undisclosed investment from SOSV, a U.S. based VC firm to revamp its operations
These investments signal the expanding clout of the MOOC market and the potential to generate great growth.
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MOOC Market: Offerings and Features Attracting Tremendous Growth
The players in the MOOC market are offering novel features and forging collaborations with renowned organizations for attracting sales and improving the subscriber count. This factor is eventually inviting growth for the MOOC market.
- Udacity announced free technology courses for a limited time in MOOC format
- Coursera is offering free certificates for 115 courses
- EdX has started MOOC-based degree programs by collaborating with varied renowned universities
MOOC Market: Geographical Assessment
North America may serve as the largest growth contributor during the forecast period of 2024-2030 due to the large-scale presence of a plethora of prominent solution vendors such as Coursera and Skillshare. The influence of the pandemic is also bringing extensive growth opportunities in the region.
Asia Pacific may also evolve as an enormous growth generating-region for the MOOC market. Skillshare recently announced that it had seen 300 percent month-on-month growth in users across India from February to April. The growth accrued due to the popularity of short-term courses in a densely populated country like India may provide good growth opportunities. In addition, the recent changes in education policies may also incur great growth opportunities for the MOOC market.
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