The online education market may usher in the golden era of growth across the forecast period of 2019-2028 owing to the dynamically changing equations of the mode of education due to the COVID-19 outbreak. The horrendous pandemic brought the world to a standstill and is creating havoc around the globe. All businesses and educational institutions are closed to flatten the curve of the new coronavirus transmission. Even if business organizations and manufacturing units are opening up, educational institutes may not open for a while as children are more vulnerable to the deadly coronavirus.
Online education has emerged as a knight in shining armor in these unprecedented times. Educational institutions across the world are shifting toward online learning to avoid breaking the chain of education while breaking the chain of the transmission. Teachers are instructed to conduct online classes for all students. According to the World Health Organization, over 1.2 billion children are out of the classroom. These numbers highlight the potential of growth for the online education market across the forecast period.
Universities are also embracing online education to conduct lectures for students enrolled in various courses. This factor can add extra stars to the growth of the online education market. As the lockdown measures urge everyone to stay home, many individuals have used this as an opportunity for inculcating new skills that can prove to be a helping hand for career prospects. Thus, this aspect can boost the growth of the online education market.
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This upcoming report on the online education market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the market. The segmental study enables an individual to thoroughly understand the different aspects of the online education market systematically.
Online Education Market: Competitive Analysis and Notable Developments
Various players in the online education market are trying to bridge the gap between the student and teachers with extraordinary technologies like virtual reality and augmented reality (AR). Tie-ups with governments of various countries and states to provide online education for a large student population are also finding their feet for the exceptional growth of the online education market. New players are entering the fray with low-cost e-learning modules that impart high-quality education to compete with the established players.
- Vu2Vu India, a collaboration between Vu2Vu Ireland and LAMHAS Satellite, recently launched Vu2Learn, a Learning Management System (LMS) for imparting online learning in India
- India’s Finance Minister Nirmala Sitharaman recently announced the PM e-Vidya program for promoting online education. Among several initiatives, 12 Swayam Prabha DTH channels will be added to facilitate e-learning for students living in remote areas who lack internet access. She also announced the start of online courses by top 100 universities including IITs and IIMs.
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Online Education Market: Key Trends
The online education market has generated interest across various countries to learn from home. Government support for the online education market is proving to be a blessing in disguise to expand its footprint across the world. In addition, job-oriented professional online education programs may assist the online education market reach the peak of growth during the forecast period.
Online Education Market: Regional Outlook
The online education market is experiencing an upward trend across all regions. Developing economies, which contributed just a fraction of growth to the online education market, may prove to be key contributors. Various initiatives taken by the governments to promote e-learning may prove to be a beneficial factor for the growth of the online education market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.