The Global Digital Education Market size to grow from USD 19.4 billion in 2023 to USD 66.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 28.0% during the forecast period. A major advantage of digital learning over traditional learning is its affordability. With online learning, learners/students only need to pay for university credits, broadband bills, thereby saving a lot of money which would have been spent otherwise on textbooks, student transportation, meals, formal attire, availability of a wide range of payment options that let learners pay in installments or per class basis, real estate (those who are non-localite, seek accommodation). Moreover, all study materials are available online, thus creating a paperless learning environment that is more affordable while also being eco-friendly.
By Type, the Self-paced Online Education segment to hold the larger market size during the forecast period.
The Self-paced Online Education segment is expected to hold the larger market size.Self-paced online courses do not require instructors and students to be available at the same time during the entire course.
Instructors can record videos or provide content that students can learn from without the instructor’s involvement. Learners get the flexibility of taking the course anywhere anytime at their own pace of grasping the knowledge and hence it becomes effective in long-term knowledge retention significantly.
By Course Type, Entrepreneurship and business management courses segment to have second highest CAGR during the forecast period
The Entrepreneurship and business management courses segment is projected to hold the second highest CAGR during the forecast period.Business management courses consist of various areas of study, such as general management, business development, finance and banking, marketing, travel and tourism, liberal arts, and business-related subjects.
Universities and educational organizations in Europe have adopted digital education solutions, enabling international mobility and multiple-language training.As a result, various regional digital education providers, such as TshinguaX and Federica Web Learning, have collaborated with several globally active digital education providers.
The initiation of business-oriented courses by online education service providers has added to the growth of the digital education market. Digital education providers have enhanced existing management-specific courses to target higher-education-focused learners with several university-affiliated courses, such as Global MBA and Masters in Innovation and Entrepreneurship.
• By End User, the Academic Institutions segment to grow at higher CAGR during the forecast period
By End User, the Academic Institutions segment is expected to grow at a higher CAGR during the forecast period.Digital education solutions in the academic sector has opened new doors for sharing knowledge without the boundaries of time and distance.
Education institutions can greatly improve the effectiveness of their courses by availing online education to their students. Although many universities and institutions still use traditional educational models, most others are adopting this change towards the digital education modernization.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 20%, Tier 2 – 25%, and Tier 3 – 55%
• By Designation: C-Level Executives – 40%, Directors– 33%, Managers–27%
• By Region: North America – 32%, Europe – 38%, Asia Pacific – 18%, and Rest of the World* – 12%
Note: Others include sales managers, marketing managers, and product managers
Note: Rest of the World includes the Middle East & Africa and Latin America
Note: Tier 1 companies have revenues more than USD 100 million; tier 2 companies’ revenue ranges from USD 10 million to USD 100 million; and tier 3 companies’ revenue is less than 10 million
Source: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis
The following key Digital Education vendors are profiled in the report:
• Coursera (US)
• edX (US)
• Pluralsight (US)
• Udemy (US)
• Udacity (US)
• Edureka (India)
• Alison (Ireland)
• LinkedIn Learning (US)
• Jigsaw Academy (India)
• Iversity (Germany)
• Miriadax (Spain)
• Intellipaat (India)
• Edmodo (UK)
• NovoEd (US)
• XuetangX (China)
• Linkstreet Learning (India)
• Khan Academy (US)
• Kadenze (US)
• Federica Web Learning (Italy)
• My Mooc (France)
• Treehouse (US)
• Skillshare (US)
• CreativeLive (US)
• CXL (US)
• GO1 (Australia)
• BYJU’S (India)
• DataCamp (US)
• Platzi (US)
• Thinkful (US)
The Digital Education Market is segmented by Type, Course Type, End User, and Region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches and product enhancements; partnerships, acquisitions, and collaborations; agreements and business expansions; and competitive landscape associated within the Digital Education Market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• The report comprehensively and exhaustively segments the Digital Education Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It provides impact of recession on the market, among top vendors worldwide along with figures which are the closest approximations, estimated and projected.
• It would help stakeholders understand the pulse of the market as analyzed information is provided basis the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand the market dynamics better, their competitors better and gain more insights to uplift their positions in the market. The competitive landscape section includes a competitor ecosystem, market diversification parameters such as new product launch, product enhancement, partnerships, agreement, integration, collaborations, and acquisitions.
• Market quadrant of digital education vendors have been precisely incorporated as a figure which helps readers understand market players categorization and their performance.
• In-depth exhaustive assessment of market shares, growth strategies and service offerings of leading players such as Coursera (US), edX (US), Udemy (US), Udacity (US), Alison (Ireland), Edureka (India), LinkedIn Learning (US), Byju’s (India), among others in the Digital education market strategies.
• The report also helps stakeholders understand the competitive analysis by these market players via competitive benchmarking, heat map.