Massive Open Online Course (MOOC) Market to Register 35% CAGR, Surpassing US$ 152 Billion by 2032
Thursday, August 25, 2022
North America to Vanguard Sales in MOOC Market; Asia Pacific to be the Ed-Tech Hotspot for MOOC Providers
The massive open online course (MOOC) market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report provides in-depth insights covering key factors such as drivers, opportunities, key players' strategies, and demand outlook. In addition to this, the study analyzes latest trends across various segments such as customer category, primary objective, program, course, model, across regions.
NEW YORK, Aug. 17, 2022 /PRNewswire/ -- The global massive open online course (MOOC) market is valued at US$ 7.55 Billion in 2022, and is expected to reach US$ 152 Billion by 2032. Increasing digitization, high penetration of smartphones, easy access to high-speed internet, and availability of MOOC courses at affordable prices are the key factors driving the market.
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Regionally, North America is likely to vanguard sales in the MOOC market, with the U.S. accounting for leading share. In addition to North America, countries in Asia Pacific such as China and India are likely to emerge as key hubs for MOOC during the assessment period (2022-2032).
The shift toward digital learning has accelerated growth of global massive open online course market. Students across the globe have now become comfortable with online mode of learning which has helped in reducing their reluctance.
Further, MOOC providers have also worked on their user interface (UI) to help students in easily accessing and understanding the course material. These factors have led to positive perception among students, and are likely to contribute toward growth of massive open online course (MOOC) market during the assessment period.
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As per Fact.MR's analysis, concerns related to extended screen time, and ongoing debate on classroom learning vs online learning is a key challenge for massive open online course market. As per a study by Brookings Institution, performance of students taking online classes is not as par with those taking in-person classes. Although massive open online course market players are focusing on addressing these concerns, these factors can affect market growth in short-term.
Key Takeaways:
-- The U.S. is likely to be the largest market for MOOC during the forecast
period due to awareness among students about benefits of MOOC
-- Asia Pacific is expected to be a lucrative market for MOOC providers,
accounting for nearly 40% of share in 2022
-- By customer type, corporates are leading the bandwagon, accounting for
nearly 40% market share in 2022
-- By course, education & teaching segment is most lucrative, accounting
for nearly 45% market share in 2022
Growth Drivers:
-- Growing digitization and rising smartphone penetration is creating
sizeable opportunities for MOOC market players
-- Wide range of courses offered by MOOC players is encouraging both
students and corporates to upskill, thereby boosting the market
-- Increasing demand for easy access to affordable education is likely to
drive market growth during the assessment period
-- Availability of better user interface and teaching material is boosting
confidence of students, thereby creating a positive perception among
them
Restraints:
-- Concerns about the performance of students who study online as compared
to those who study in-person is anticipated to remain a key challenge
for MOOC players
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Competitive Landscape:
The massive open online course market is fairly consolidated, as many new companies have entered the market in the recent past. MOOC providers are focusing on mergers & acquisitions, along with expanding into lucrative markets to boost growth.
For instance,
-- In June 2022, Indian developer educator Scaler announced to expand in
the U.S. The company is aiming to provide education that is more
advanced than traditional college curriculum
-- In November 2021, 2U completed the purchase of edX to expand its reach.
2U also announced it will offer 10 new courses in essential skills for
the digital age.
Key Companies Profiled by Fact.MR
-- edX Inc
-- Coursera Inc
-- Alison
-- Federica.EU Udemy
-- Pluralsight
-- Instructure
-- Udacity
-- Miriada X
-- Jigsaw Academy
-- LinkedIn Learning
-- Kadenze
-- iverity
-- NovoEd
-- FutureLearn
-- Simplilearn
-- Skillshare
-- Intellipaat
-- Federica.EU
-- Xuetangx
-- Wiziq
More Valuable Insights on Massive open online course Market
In the latest study, Fact.MR offers a detailed study on global massive open online course market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of massive open online course with analysis across below segments:
By Customer Category:
-- Individual MOOCs
-- Enterprise / Corporate MOOCs
-- MOOCs for Small Enterprise
-- MOOCs for Medium Sized Enterprise
-- MOOCs for Large Enterprise
-- MOOCs for Educational Institutes
By Primary Objective:
-- MOOCs for Reskilling and Online Certification
-- MOOCs for Language and Casual Learning
-- MOOCs for Supplemental Education
-- MOOCs for Higher Education
-- MOOCs for Test Preparation
By Program
-- Certificate & Professional Program MOOCs
-- Degree & Master Programs MOOCs
-- Other MOOC Programs
By Course:
-- Business & Management MOOCs
-- Data Science / Programming / Computer Science MOOCs
-- Science (Pure) MOOCs
-- Social Science MOOCs
-- Humanities MOOCs
-- Educational & Teaching MOOCs
-- Engineering MOOCs
-- Health & Medicine MOOCs
-- Mathematics MOOCs
-- Art & Design MOOCs
-- Other MOOCs (Law, Language Etc.)
By Model:
-- xMOOC
-- cMOOC
By Region:
-- North America
-- Latin America
-- Europe
-- Asia Pacific
-- Middle East and Africa (MEA)
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Key Questions Covered in the Massive Open Online Course (MOOC) Market:
-- What is the projected value of the massive open online course market in
2022?
-- At what rate will the global massive open online course market grow
until 2032?
-- Which are the factors hampering the growth in the massive open online
course market? Which region is expected to lead in the global massive
open online course market during 2022-2032?
-- Which are the factors driving the massive open online course market
during the forecast period?
-- What is the expected market value of the massive open online course
market during the forecast period?
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