2. Middle East and Africa Online Education Market, By Vendor Today, public resources still dominate funding for the primary, secondary and post-secondary non-tertiary education levels in these countries. 7.1.4 Others, 7.2.1 Large Enterprises The global market for education is $4.4 trillion, and poised to grow significantly over the next five years, according to an analysis by an international investment bank that advises companies on educational technology. Lindahl, M., and Krueger, A. You can check country by country trends over time in this line chart. Historical Data: 2018 - 2020 Description Table of Contents Analysis Type Research Methodology Request for Sample Report Summary The global K-12 private education market was valued at USD 2.19 billion in 2021 and is expected to grow at a CAGR of 6.6% during the forecast period. Middle East and Africa Online Education Market, By Type Others Consider the comparison between Chile and Burkina Faso in the center of the chart: Both countries had similar average scores a couple of decades ago, but while Chile has improved, Burkina Faso has regressed. Figure-38: North America Forecast for Online Education Market (Billion US$), 2022 2027 Indonesia 11.6 Threat of Substitutes, 12.1.1 Overview Furthermore, it also introduces the major competitive players in these regions. Others. Adobe Inc. As per our analysis, academic as end-user holds a significant market share in the online education market, facilitating asynchronous and synchronous education delivery methods and access to online discussion boards, chat rooms, and video conferencing. Figure-23: Provider Content Market (Billion US$), 2016 2021 Research Highlights Global Education Technology Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024 Overview: The education industry has witnessed dramatic changes in the past decade and is still undergoing radical process changes in the delivery of its products and services. 10.4.5 Rest of South America, 11.1 Overview Similarly, after accounting for literacy proficiency, the percentage of individuals with tertiary education increases by 16 percentage points compared to someone who has upper secondary or post-secondary non-tertiary education.. Powered by our Global Impact Intelligence Platform. Germany HolonIQs annual analysis of the global education market and expectations for 2022 and beyond. 9.3.5.3. Global Education Market 2022 research report covers market size, share, emerging trends, and the key players of the industry including company profile, product specifications, production capacity, revenue, price and gross margin. Table-02: Global Forecast for Online Education Market Share by User Type (Percent), 2022 2027 It is a helpful measure, because it allows aggregation of attainment across education levels. Corporate Others Region - Global Online Education Market has been done 5 viewpoints: 1. The 2022 Outlook provides over 170 pages of expert analysis and insights into the underlying dynamics of change for education, how and where investment is supporting innovation, and commentary about the models and teams that are shaping the future. Journal of Economic Literature, 39(4), 1101-1136. Fueled by a massive US and EU investment surge and Indias growth charging onwards, collectively global growth covered an $8B investment collapse from China and managed to set record growth for the sector. Regarding the consequences of education, a growing body of empirical research suggests that better education yields higher individual income and contributes towards the construction of social capital and long-term economic growth. 10.2.4 Italy 11.5. Global "Education Technology And Smart Classroom Market " 2022 Reports give a Key study on the industry status of the Education Technology And Smart Classroom Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. It shows that our world will be inhabited by more and more educated people: while in 1970 there were only around 700 million people in the world with secondary or post-secondary education, by 2100 this figure is predicted to be 10 times larger. Japan However, data on literacy rates by age groups shows that in most countries, and certainly in virtually all developing countries, there are large generational gaps: younger generations are progressively better educated than older generations. The visualization shows that this positive correlation is indeed supported by the data. Porter's five forces analysis illustrates the potency of buyers & suppliers in the market. Low-income, low-performing countries are clustered at the bottom of the global scale: the distribution of test scores within these countries is shifted down, relative to high-performing countries. Calculations from Hanushek, E. A. and Woessmann, L. (2008).The full reference is: Hanushek E A and Woessmann L (2010), Education and Economic Growth. A3. This reflects the fact that many children who are officially enrolled, do not regularly attend school. All the software and code that we write is open source and made available via GitHub under the permissive MIT license. In contrast, by 2010 the distribution had shifted drastically to the right. All Rights Reserved, Type, Technology, Vendor, End-User, And Geography, North America, South America, Europe, Middle East and Africa, Asia Pacific. 9.3.1. Valero, A., & Van Reenen, J. Table-07: Global Online Education Market Share by Region (Percent), 2016 2021 Figure-39: United States Online Education Market (Billion US$), 2016 2021 Online at the authors site here. Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Although the data is highly irregular due to missing observations for many countries, we can still observe a broad upward trend for the majority of countries. Considering COVID-19, this report provides comprehensive and in-depth analysis on how the epidemic push this industry transformation and reform. Figure-05: User Type Higher Education Market (Billion US$), 2016 2021 Figure-08: User Type Forecast for Vocational Training Market (Billion US$), 2022 2027 the report focuses on global, top 10 regions and top 50 countries market size of education 2016-2021, and development forecast 2022-2028 including industries, major players/suppliers worldwide and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and Figure-69: Australia Online Education Market (Billion US$), 2016 2021 The visualization shows the recent evolution of inequality in educational attainment, through a series of graphs plotting changes in the Gini coefficient of the distribution of years of schooling across different world regions. The report scope of Education market provides crucial insights into the important segments and sub-segments along with in-depth analysis on the key individual factors influencing its growth rate. These include: Education is widely accepted to be a fundamental resource, both for individuals and societies. The visualization shows estimates of primary education enrollment rates for a selection of 111 countries during the period 1870-2010. Figure-32: Technology Forecast for Rapid e-learning Market (Billion US$), 2022 2027 Should I use all my inheritance for a down payment. The growth in access to primary education across developing countries was achieved through an important increase in government expenditure on education in these countries (you can read more about this in our discussion of global expansion in education expenditure). 201321). Figure-13: User Type Corporate Market (Billion US$), 2016 2021 In Chapter 3.4, the report provides analysis of the reasons behind price fluctuations. For instance, as per World Bank, in the US, where schools have been exclusively online since mid-March 2020, almost14 percent of householdswith school-age children do not have internet access. Get a Sample Copy of the report: https://www.absolutereports.com/enquiry/request-sample/18810768, Market Analysis and Insights: Global Education Market. Renub Research latest report Online Education Market, Global Forecast By User Type (Academic (Higher Education, Vocational Training, K-12 Education and Others), Corporate (Large Enterprise and SMBs and Government), Provider (Services and Content), Technology (Online e-learning, Learning Management System (LMS), Mobile e-learning, Rapid e-learning, Virtual classroom and Others), Region (North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy, Spain and Russia), Asia-Pacific (China, India, Japan, South Korea, Singapore and Australia), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Middle East & Africa), Companies (Coursera, Instructure Inc., Byju's, Adobe Inc. and Alphabet Inc)provides a detailed analysis of Online Education Industry. Interestingly, however, inequality grew in the period 1870-1950, but after this point, it has slowly started going down (notice that the distribution in 2010 is bulkier in the middle, vis-a-vis the distribution in 1950). It gives them more edge for academic institutions if they adopt digital education as one of their offerings. According to IBIS Capital, a London-based investment bank, the e-learning market is projected to grow by 23 percent between . You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. The interactive visualization shows trends in years of schooling for a selection of 111 countries during the period 1870-2017. Figure-85: Coursera Global Revenue (Billion US$), 2016 2021 This is a meta-entry on education. Table-06: Global Forecast for Online Education Market Share by Technology (Percent), 2022 2027 By Country (2001). To emphasize the points above, here we see a map which shows the evolution of mean years of schooling across the globe, using a related, but different source. The most common method is to calculate the share of those people who could sign official documents (e.g. What are the growth prospects for the online education market? Introduction In this entry we begin by providing an overview of long run changes in education outcomes and outputs across the world, focusing both on quantity and quality measures of education attainment; and then provide an analysis of available evidence on the determinants and consequences of education. Online education is an electronically upheld learning framework, which depends on the internet for cooperation and appropriation of study material among understudies and instructors. This topic page can be cited as: All visualizations, data, and code produced by Our World in Data are completely open access under the Creative Commons BY license. Thus, further reductions in education inequality are still to be expected within developing countries; and if the expansion of global education can be continued, we can speed up this important process of global convergence. Others Europe Online Education Market, By Technology Porters Five Forces Analysis A global picture of attainment shows estimates and projections of the total world population by level of education. 10.2. Figure-77: Chile Online Education Market (Billion US$), 2016 2021 Figure-06: User Type Forecast for Higher Education Market (Billion US$), 2022 2027 The primary key companies studied in our report include Coursera, Instructure Inc., Byju's, Adobe Inc. and Alphabet Inc. Increasing number of schools and higher education institutions that have adopted smart devices in modern. Which are the key companies operating in the e-learning landscape? Recently, in academics, the institutions like Higher Education, Vocational Training and K-12 Education worldwide have also adapted to online education, a dynamic education landscape generating immense interest among researchers, educators, administrators, policymakers, publishers, and businesses. I want to buy a house. This allows an analysis of the stock of human capital that a population has at any given point in time. As usual, correlation does not imply causation but it does show an important pattern that supports the idea that education is indeed necessary to produce social capital. The global education market will continue to provide programs that are compatible with the needs of today's workforce and industries. $48.7 Billion. Figure-20: User Type Forecast for Government Market (Billion US$), 2022 2027 However, the situation is steadily changing and has shown positive trends in some countries like India where the rural region had 227 million active internet users, 10% more than urban India as of November 2019 as per the Internet and Mobile Association of India. Expect to see further activity in many markets around national platforms and government led initiatives for EdTech efficacy and teacher capability development. Global Online Education Market Analysis, by Vendor Virtual classroom 6. The first conclusion from this charts is that for both genders, at any given age, individuals with more education receive higher wages. The visualization shows the estimates and projections of the share of individuals, across countries, who have no education. 6.5. The online education market is evaluated at US$220.837 billion for the year 2020 and is projected to grow at a CAGR of 10.91% to reach US$455.990 billion in 2027. Russia, China Available online here. The global online education market is segmented into various categories such as Application, Course Type, Provider, and Learning Type. Market Share - Global Online Education Analysis, 6.1 By User Type The previous graph gave a cross-country comparison of earning by education level. Figure-43: Europe Online Education Market (Billion US$), 2016 2021 Post COVID, we expect to see significant growth in early childhood and workforce segments, deflation in higher education and K12 growth driven by emerging markets. The production function provides a conceptual framework to think about the determinants of learning outcomes18: where A is skills learned (achievement), s is years of schooling, Q is a vector of school and teacher characteristics (quality), C is a vector of child characteristics (including innate ability), H is a vector of household characteristics, and I is a vector of school inputs under the control of households, such as childrens daily attendance, effort in school and in doing homework, and purchases of school supplies. For example, by contrasting the wages of genetically identical twins with different schooling level, researchers have found a way of controlling for unobservable characteristics such as family background and innate ability. 12.1.3 Revenue, 12.2.1 Overview Several studies with more sophisticated econometric models corroborate the fact that expenditure on education does not explain well cross-country differences in learning outcomes.16 You can read more about test scores and learning outcomes in our entry on Quality of Education. GSV-Advisors calculated that the value of the education market, globally speaking, was $4.9 (USD) trillion in 2015, and that venture capital investment in education companies reached nearly $2 billion in 2014 (after growing at a 45% rate over the past five years). Figure-63: Japan Online Education Market (Billion US$), 2016 2021 Q3. Contact the source provider Comtex at [email protected]. Lutz, Creso Cuaresma, and Sanderson (2008)27 conclude that better education does not only lead to higher individual income, but also is a necessary (although not always sufficient) precondition for long-term economic growth., The plot, from Hanushek and Woessmann (2010),28 provides a basic representation of the association between test scores and economic growth using data over the period 1960 to 2000. 10.2.3 France Due to the advent of the COVID-19 pandemic, schools and colleges across the globe had to adopt the online education method to make sure the chain of gaining and imparting knowledge is not disrupted due to the regulation imposed to curb the spread of the virus. Copyright 2022 MarketWatch, Inc. All rights reserved. 9.5.1. Figure-57: Asia-Pacific Online Education Market (Billion US$), 2016 2021 This conceptualization highlights that, for any given level of expenditure, the output achieved will depend on the input mix. In other words, there is robust evidence supporting the causal effect of education on wages (for more details see Card 1999). 9.3.4. The size of this market is expected to increase to USD xx.x million by the year 2028, while growing at a Compounded Annual Growth Rate (CAGR) of x.x% Single User License $4200 Fast Moving Consumer Goods & Services Miscellaneous Educational Services Literacy rates are determined by literacy questions in a census or sample survey of a population, in standardized tests of literacy, or via extrapolation from statistics about school enrollment and educational attainment.2. Web3 offers the promise of decentralized access to education and learning, but the focus for now is utilizing blockchain technology to enable tamper-proof verification and ease of credential sharing. Q1. Competitive Rivalry in the Industry South America Vendor Competitiveness Matrix And consequently, this implies that in order to explain education outcomes, we must rely on information about specific inputs. Copyright 2022 HolonIQ All Rights Reserved. As per Maximize Market research, a global business research and consultancy firm, the total global market for Education Apps Market dynamics, structure by analyzing the market segments and projects the Market size. 9.6 Others, 10. Further in-depth information on this topic, including definitions, data sources, historical trends and much more, can be found in our dedicated entry Financing Education. Despite all these worldwide improvements, some countries have been lagging behind, mainly in sub-Saharan Africa, where there are still countries that have literacy rates below 50% among the youth. Europe The demography of educational attainment and economic growth. An important body of literature stipulates that womens education leads to lower child mortality because it contributes towards healthier habits and choices, including child spacing (see Brown and Barrett 1991 for a more detailed conceptualization of the mechanisms).25. We can see that there has been a continuous rightward shift in the successive distributions of schooling across time. 6. 9.5.4. Secondary and tertiary education have also seen drastic growth, with global average years of schooling being much higher now than a hundred years ago. As per our analysis, Asia-Pacific and North America hold the top two positions in the market. In the previous section we showed, through school enrollment data, that the world went through a great expansion in education over the past two centuries. Figure-72: South America Forecast for Online Education Market (Billion US$), 2022 2027 And the rate of growth really climbed after the middle of the 20th century, when the expansion of basic education became a global priority. Despite progress in the long run, however, large inequalities remain, notably between sub-Saharan Africa and the rest of the world. 10.3.2 India 12.1.2 Recent Development The environment that children are exposed to early in life, plays a crucial role in shaping their abilities, behavior and talents. Research Data Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. Bargaining Power of Suppliers Moreover, the market's growth momentum will accelerate at a CAGR of 28.61% as per the latest . Market growth will be fueled by falling operational low-costs, simplified training processes, and flexible and convenient learning solutions. Introduction Figure-65: South Korea Online Education Market (Billion US$), 2016 2021 Online e-learning The developing appropriation of cloud-based arrangements combined with rising investment speculations by significant market penetrators towards improving the security and unwavering quality of cloud-based education platforms is further expanding its selection among the institutions. When citing this topic page, please also cite the underlying data sources. Global Education Market Size and Scope 2022 Research Report by Consumption, Revenue, Regions, Gross Margin and Forecast to 2026. The concept of e-learning is a technology-mediated learning approach of great potential from the educational perspective, and it has been one of the leading research lines of Educational Technology in the last decades. In the year 2021, the Global Educational Robots Market was valued at USD xx.x million. The global higher education market is expected to exhibit a CAGR of 20.37% during 2022-2027. Regulation will tighten before easing as digital learning becomes mainstream, public-private partnerships gradually accepted and credentials will become more diverse. 4.4. 6.3. The time-series chart shows inequality by age group. Furthermore, despite Cambodias internet penetration being only 40 percent,the government has allocatedabout 54 percent more for online learning (US$ 1.7 Million) as opposed to TV & Radio (US$ 1.1 Million). Hence, online education has become more feasible technologically, economically, and operationally. The visualization shows the strong cross-country correlation between child mortality and educational attainment. 4.3 Opportunities, 6. 1.2. Virtual Reality for Education Global Market Value Chain Analysis 3.3.1. volunteering, political participation, interpersonal trust) and economic growth. Figure-86: Coursera Forecast for Global Revenue (Billion US$), 2022 2027 4.3.5. The Gini coefficient is a measure of inequality and higher values indicate higher inequality you can read about the definition and estimation of Gini coefficients in our entry on income inequality. North America dominates the market and is expected to hold the largest share of the global online education market attributing to the presence of major market players. No. The world bank economic review, 15(3), 367-391. The source for the visualization Tanzi & Schuktnecht (2000) compiles estimates from many sources, including: League of Nations Statistical Yearbook (various years), Mitchell (1962), OECD Education at a Glance (1996), UNESCO World Education Report (1993), UNDP Human Development Report (1996), UN World Economics Survey (various years). Global Online Education Market Analysis, by Technology These institutions reconstructed educational attainment distributions by age and sex for 120 countries for the years 19702000. Roughly speaking, this pattern tends to be progressive, since students from wealthier households are more likely to attend tertiary education, and those individuals who attend tertiary education are likely to perceive large private benefits.14 In contrast, the bottom chart shows a very different picture: in several low-income countries households contribute proportionally more to primary education than to higher levels. National Bureau of Economic Research. 9.2.5. Visit a quote page and your recently viewed tickers will be displayed here. Human capital in the long run. 11.5 Threat of New Entrants This situation showed the strengths and weaknesses of education systems facing the challenge of digitalization. Available online here. We will always indicate the original source of the data in our documentation, so you should always check the license of any such third-party data before use and redistribution. the proportion who pass a global benchmark for minimum skills), against the share who achieve advanced proficiency (i.e. It can be deduced that in the next five years, the global education market will continue to evolve and additional programs will be developed for students to address future skill demands and market needs. For 1998 it is estimated that 381 million children were out of school. The average number of years spent in school are another common measure of a populations education level. Industry Value Chain Analysis What is the size of the global online education market? The interactive map shows recent primary school attendance estimates for a selection of (mainly) low and middle income countries in Africa, where the gaps between attendance and enrollment are largest. Figure-89: Byju's Global Revenue (Million US$), 2016 2021 Research& Methodology Where has all the education gone?. Figure-36: Technology Forecast for Others Market (Billion US$), 2022 2027 volume 2, pp. Global Education Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 454.45 Crore) operating in Learning & Education sector. A1. By Country 9.6.5.8. And these results hold after controlling for literacy, gender, age and monthly earnings. 245-252. 10. 9.4. This can be seen across all quantity measures. Figure-88: Instructure Inc., Forecast for Global Revenue (Billion US$), 2022 2027 The interactive map shows literacy rates around the world, using recent estimates published in the CIA Factbook. Developing interest to decrease the expense of instruction, expanding government drives supporting online schooling, and expanding infiltration of cell phones and the internet are the variables adding to the growth of the online education market. Who are the major players operating in the market? As we can see, low attendance rates are an important problem in sub-Saharan Africa more so than enrollment figures suggest. This is explained by near-universal enrolment rates at these levels of education and the demographic structure of the population. Figure-29: Technology Mobile e-learning Market (Billion US$), 2016 2021 It is suggested that spending on digital education technology will reach $342 billion by 2025. In the previous interactive visualisation we showed how the average number of years spent in school has been going up constantly across the world. Sustainable futures. Since differences in national expenditure on education do not explain well cross-country differences in learning outcomes, the data suggests that generic policies that increase expenditure on standard inputs, such as the number of teachers, are unlikely to be effective to improve education outcomes. You can compare achievement above minimum, intermediate, and advanced benchmarks, country by country and over time, in these three line charts: The most common way to gauge differences in the way countries produce education, is to analyze data on expenditure. Virtual classroom The implication is that its not enough to focus on average outcomes to assess challenges in education quality. 10.2.5 Spain Back in 1870 women in the advanced economies'10 had only 0.75 years for every year of education that men had. The report provides key statistics on market. The most recent one is Lee and Lee (2016).35 These estimates rely on a variety of historical sources, and expand existing estimates from previous studies by using a significant number of new census observations. 11.4. The market is driven by schools shifting from the traditional blackboard approach to integrating smart technology into learning environments. How will service providers contribute to the e-learning sector? India 8.3. w22501). To the extent that the authors do not specify which sources were prioritised for each year/country, it is not possible for us to reliably extend the time series with newer data. The rapid penetration of mobile phones and tablets, rising technological advancements, and the growing adoption of advanced technologies such as virtual classrooms in the education sector are the major factors driving the growth of the market. Figure-81: Rest of South America Online Education Market (Billion US$), 2016 2021 Singapore Among these countries we see a broad positive trend: Most bubbles are above the diagonal line, which means the majority of countries have seen improvements in learning outcomes over the last couple of decades. Angela W. Browne & Hazel R. Barrett (1991) Female Education in SubSaharan Africa: the key to development?, Comparative Education, 27:3, 275-285, DOI: 10.1080/0305006910270303. The learning trend encompasses a broad range of . Adobe Jesus Crespo Cuaresma, Samir K.C., and Petra Sauer (2013) Age-Specific Education Inequality, Education Mobility and Income Growth 4. Others The presence of an enormous number of service and content suppliers in the market is bringing colossal volumes of instructive substance to the web. Will I end up supporting him? the gender ratios approximate the 100% benchmark for education gender parity). 3. The visualization presents three scatter plots using 2010 data to show the cross-country correlation between (i) education expenditure (as a share of GDP), (ii) mean years of schooling, and (iii) mean PISA test scores. In this section we begin by providing an overview of education expenditure around the world, and then turn to the question of how expenditure contributes to the production of education. This reflects the fact that there has been a continuous increase in average years of schooling worldwide: as the share of the uneducated population fell over time, the concentration at the lower level became less pronounced. Figure-93: Alphabet Inc Global Revenue (Million US$), 2016 2021 Demography, education, and democracy: Global trends and the case of Iran. The "Education Market" report offers a detailed analysis of the current market situation, as well as gives valuable information regarding the future outlook of the industry. Figure-78: Chile Forecast for Online Education Market (Billion US$), 2022 2027 All other material, including data produced by third parties and made available by Our World in Data, is subject to the license terms from the original third-party authors. As per Renub Research, the Global Online Education Market will reach US$ 585.48 Billion by 2027. Below we provide more detailed evidence of how education inequality has been going down since 1950. Chile 307 education stocks closed 2021 with a $192B market cap, down $120B over the full year with now 47 stocks > $1B market cap. Oxford: Elsevier. K-12 Education 12.3.3 Revenue, 12.4.1 Overview We can also see that in the period 1960-2010, education inequality went down every year, for all age groups and in all world regions. 9.5.5.1. Higher Education Market Size (2021-2026) The global higher education market size was at $77.41 billion in 2020 and is anticipated to reach $114.69 billion by 2026, with a compound annual growth rate (CAGR) of 9.3% over the course of the predicted period. Global Education Ltd. key Products/Revenue Segments include Sale of services, Printing, Computer Accessories & Electronics Goods for the year ending 31-Mar-2022. 5. France 4.3.3. Available online from http://unesdoc.unesco.org/images/0022/002252/225258e.pdf, UNESCO points out that concerns have been also raised that enrolment rates can be overstated in education systems in order to meet goals or due to direct links to levels of financing and resources., Source: UNESCO report Measuring Exclusion From Primary Education (2005). Barro, Robert and Jong-Wha Lee, April 2010, A New Data Set of Educational Attainment in the World, 1950-2010. Journal of Development Economics, vol 104, pp.184-198. Global and Chinese Nursing Education Market 2022 is a professional and in-depth study on the current state of the global market with a focus on the Global and Chinese market. Figure-44: Europe Forecast for Online Education Market (Billion US$), 2022 2027 9.5.5.3. You find more research, data visualisations, and detailed lists of data sources in the more specific entries: See the Wikipedia entry on compulsory education for a table of the ages of compulsory schooling around the world. 7.1.2 Vocational Training These figures are simply correlations, and cannot be interpreted causally: individuas with more education are different in many ways to individuals with less education, so we cannot attribute wage differences solely to education choices. 9.3. As we can see, in all countries those individuals with tertiary education were by far the group most likely to report trusting others. All our studies come with 2 months of analyst support. Microsoft Corporation E-Learning Market size surpassed USD 315 billion in 2021 and is projected to observe 20% CAGR from 2022 to 2028. The advancements in technology and innovations are changing the . The government across the countries have introduced several schemes in favour of online education, especially after the COVID-19 crisis grappled the world. 9.5.3. Table-04: Global Forecast for Online Education Market Share by Provider (Percent), 2022 2027 Figure A8.4 in Education at a Glance (2015)As per the source notes: Percentage-point difference reflects the relative change of reporting to trust others compared to the reference category. Oxford: Elsevier. (We can also provide the editable version of the report in PPT/Word format on request). Pearson Im 68, my husband is terminally ill, and his $3 million estate will go to his son. As we can see, the countries with the greatest returns to tertiary education (Brazil, Chile and Colombia) are also those where tertiary education is less prevalent among the adult population. At what growth rate will the market be projected to grow by the forecast 2028? How big is the global online education market? Description TABLE OF Contents METHODOLOGY DOWNLOAD PDF [251 Pages Report] The global digital education market is projected to grow at a CAGR of 32.3% during the forecast period to reach USD 46.7 billion by 2026 from an estimated USD 11.5 billion in 2021. This type of graph, called a partial regression plot, shows the relationship between test scores and growthafter accounting for the initial level of GDP per capita and for years of schooling in 1960. 11.9. court documents). volume 2, pp. For instance, one of Indias most valuable Edtech startup BYJUSsaw 7.5 million new users on its platformsince it started offering free access to content. Figure-22: Provider Forecast for Services Market (Billion US$), 2022 2027 South America Online Education Market, By Technology 10.4.3 Chile Figure-31: Technology Rapid e-learning Market (Billion US$), 2016 2021 Company Profiles Figure 1 in Card, D. (1999). 9.2.4. 7.1. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. 11.3. Hanushek, E. A. From production end to consumption end in regions such as North America, Europe, China, and Japan, the report put emphasis on analysis of market under COVID-19 and corresponding response policy in different regions. The causal effect of education on earnings. Education technology (EdTech) includes hardware and software technology used to educate students on a virtual level to improve learning in classrooms and enhance . Figure-87: Instructure Inc., Global Revenue (Billion US$), 2016 2021 9.4.4. Global Educatio Share Price, Global Educatio Stock Price, Global Education Ltd. Stock/Share prices, Global Education Ltd. Live BSE/NSE, F&O Quote of Global Education Ltd. with Historic price . The visualization, from the UNESCO report Measuring Exclusion From Primary Education (2005), shows the relationship between these two measures. Middle East and Africa (2013). The visualization presents OECD-average expenditure on education institutions by source of funds.13. The war between these two countries has led to economic . Asia-Pacific, a developing region, leverages the latest advancements such as the hybrid model, new and unique subjects, gamification, peer-to-peer learning, and profile mapping. Instructure Inc., 2. Higher Education Institutions Israel Figure A6.1 in OECD Education at a Glance (2015). But correlation does not imply causation: there are many factors that simultaneously affect education spending and outcomes. Renub Research is a Market Research and Consulting Company. Figure-37: North America Online Education Market (Billion US$), 2016 2021 To address this issue, the economics literature has developed different strategies. 10.3.5 Singapore Lutz, W., Crespo Cuaresma, J., & AbbasiShavazi, M. J. In: Penelope Peterson, Eva Baker, Barry McGaw, (Editors), International Encyclopedia of Education. 11.10. The United States has a key position in the global science and engineering (S&E) enterprise. Statistics of literacy rates for recent decades are published by statistical offices. Over the years, information and communication technologies have kept advancing. User Type Global Online Education Market: Higher Education 5.2. E-learning or online education is transforming the way we approach teaching and learning. And regarding household inputs, the recent experimental evidence suggests that interventions that increase the benefits of attending school (e.g. 9.4.5.3. Online e-learning 2. Italy Online at the authors site here. These estimates correspond to back projections: researchers used educational attainment estimates from the UN for the year 2000, and projected backwards from this single year. By vendor, the market is segmented into service providers, and content providers. Figure-14: User Type Forecast for Corporate Market (Billion US$), 2022 2027 Introduction Grand Canyon keyword, Inc. Blackboard Inc. GameLab keyword McGraw-Hill keyword Laureate keyword Bright Horizons Family Solutions Pearson LAIOB - Latin America Institute of Business Strategic keyword 2U, Get a Sample Copy of the Education Market Report, To Understand How Covid-19 Impact Is Covered in This Report - https://www.absolutereports.com/enquiry/request-covid19/18810768. Figure-33: Technology Virtual classroom Market (Billion US$), 2016 2021 The other main source on this topic are the estimates from the International Institute for Applied Systems Analysis (IIASA) and the Vienna Institute of Demography (VID). Executive Summary Figure-50: France Forecast for Online Education Market (Billion US$), 2022 2027 You can read more about this in Delgado, Henderson and Parmeter (2014)31, Hanushek (2013)32 and Pritchett (2001).33. The Global Education Technology Market size is expected to reach $283 billion by 2028, rising at a market growth of 15.5% CAGR during the forecast period. The visualization shows the evolution of female-to-male ratios of educational attainment (mean years of schooling) across different world regions. Japan Figure-56: Russia Forecast for Online Education Market (Billion US$), 2022 2027 These figures, from The International Institute for Applied Systems Analysis (IIASA), suggest that we should see rates of education increasing as the world develops and by 2050, only five countries are likely to have a rate of no education above 20%: these are Burkina Faso, Ethiopia, Guinea, Mali and Niger. Although the United States was key in the rapid development of COVID-19 vaccines, the data in this report show the U.S. S&E enterprise could be strengthened. What will be the online education market size by 2027? Join 80,000+ free weekly newsletter subscribers. Worldwide Online Education Industry is expected to grow with a. Gamification concepts to enhance user engagement. The last two decades have seen a small but general increase in the share of income that countries devote to education. Increasing penetration of internet in many regions across the globe is a major factor driving the market growth. The global education technology industry analysis shows that market share crossed $17.7 billion in revenue in 2017 and is expected to grow to $40.9 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 18.3%. For instance, the OECD Education at a Glance report (1998), which presents estimates for the years 1990 and 1995, suggests discrepancies with the values reported by Tanzi & Schuktnecht (2000) for 1993. You can read more about this source of data, including details on the estimation methodology, in our entry on Projections of Future Education. Figure-74: Brazil Forecast for Online Education Market (Billion US$), 2022 2027 Education technology is becoming a global phenomenon, and as distribution and platforms scale internationally, the market is projected to grow at 11% per annum, to $341 billion by 2025. Mexico The K-12 Education Market was valued at USD 3,259.36 million in 2021 and is expected to register a CAGR of 9.53% over the forecast period (2022 - 2027). This report also provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business growth. 1. 4.1. For instance, Bangladesh experienced an extremely high internet penetration rate from merely 100,000 in 2000 to 94,199,000 in 2020. This question is motivated by the notion that aggregate education (human capital) generates positive spill-over effects for everyone. As we can see, the average number of years spent in school has gone up around the world. Figure-75: Argentina Online Education Market (Billion US$), 2016 2021 Education technology (EdTech). Declining facilitating costs and the developing requirement for educational content is further propelling the growth of the market. Provider - Global Online Education Market, 9. Emerging markets are positioned to adopt leapfrog approaches to innovation. Measuring learning outcomes in a way that enables us to make comparisons across countries and time is difficult. Market Restraints Global Online Education Market Analysis, by Type Figure-19: User Type Government Market (Billion US$), 2016 2021 Technology - Global Online Education Market, 9.1 Online e-learning Rest of South America, Overview 11.8. Figure-92: Adobe Inc. Forecast for Global Revenue (Million US$), 2022 2027 Strictly speaking, the y-axis measures the density of the distribution of years in other words, it shows the relative likelihood that the variable years of schooling takes on a given value. At the secondary school age the reverse is true, more boys than girls are out of secondary school. 4. It shows that policies matter and learning outcomes can, and often do improve. As incomes measured by GDP per capita are generally increasing around the world, this means that the total amount of global resources spent on education is also increasing in absolute terms. Long standing infrastructure, relentless innovators and ever-feared competitors, technology giants face an uncertain regulatory landscape. 4.3. Table-08: Global Forecast for Online Education Market Share by Region (Percent), 2022 2027. By Technology, we have covered the market for Online e-learning, Learning Management systems (LMS), Mobile e-learning, Rapid e-learning and Virtual classroom. Better education lifts all boats. As usual, a selection of countries is shown by default, but other countries can be added by clicking on the relevant option at the top of the chart. But it is worrying that many low-performing countries are substantially below the diagonal line. Although the rapidly spreading coronavirus harshly affected all businesses, the online education system surprisingly showed lucrative growth opportunities amid the threatening pandemic. 6.3 By Technology As per Renub Research, the Global Online Education Market will reach, Recently, the digital transformation of education systems at all levels has allowed incorporating a new teaching-learning ecosystem called e-learning. In each case, we provide a discussion of the robustness of the evidence. A report from Grand View Research said that the global digital education market size is expected to reach USD 77.23 billion by 2028. 4. Figure-27: Technology Learning Management System (LMS) Market (Billion US$), 2016 2021 These companies deliberately focus on developing innovative learning & education solutions that help gain a competitive position in the global market. Hence, online education. Figure-66: South Korea Forecast for Online Education Market (Billion US$), 2022 2027 As we can see, in all OECD countries for which information is available, the higher the level of education, the greater the relative earnings. Population and Development Review, 36(2), 253-281. Market Definition Forecast, Number of Active & Penetration Households by Application, Products, Companies Analysis. Australia Smart Home Market will be US$ 4.61 Billion by 2027. Less than half of students in Sub-Saharan Africa reach the minimum global threshold of proficiency; and very, very few students achieve advanced skills. Figure-18: User Type Forecast for SMBs Market (Billion US$), 2022 2027 South America Online Education Market, By End-User Podcasts 7.1.3 K-12 Education Under COVID-19 Outbreak, how the Education Industry will develop is also analyzed in detail in Chapter 1.8 of this report. The report also consists of . The chart shows the number of the world's young population who are out of school across primary- and secondary-school-age. 9.4 Rapid e-learning The 2022 Outlook provides a detailed list of the top performing listed education companies and those which have performed the worst over the last year. Middle East and Africa Online Education Market, By End-User 3.1. Regions of Technical and Vocational Education Market. McGraw-Hill Education Figure-84: Middle East & Africa Forecast for Online Education Market (Billion US$), 2022 2027 Medical Education Market Size And Forecast. There are several international standardised tests that try to measure learning outcomes in a systematic way across countries; but these tests are relatively new, and they tend to cover only specific geographical areas and skills. 3 unexpected ways inflation affects our finances. Other studies using different data have found similar results (see, for instance, Blundell et al. South Korea The most common way to measure the private returns to education, is to study how attainment improves individual labor market outcomes usually by attempting to measure the effect of education on wages. As usual, you can add countries, or switch to the map view, by selecting the corresponding options at the top of the chart. COVID-19 Transformed the Global Online Education Market: Recently, the digital transformation of education systems at all levels has allowed incorporating a new teaching-learning ecosystem called e-learning. 9.6.5.5. And once again, we see the pattern that has already been discussed: early-industrialized countries pioneered the expansion of education in the 19th century, but this process became a global phenomenon after the second World War. 9.6.5.4. Our entry on Literacy contains further in-depth information on the topic. Card, D. (1999). The e-learning industry is expected to exceed $107 billion by 2015, according to Global Industry Analysts. The concept of e-learning is a technology-mediated learning approach of great potential from the educational perspective, and it has been one of the leading research lines of Educational Technology in the last decades. B. Blundell, Richard, et al. South America Online Education Market, By Type Hanushek E A and Woessmann L (2010), Education and Economic Growth. What will drive the market size of online education market globally? How did the ongoing coronavirus (COVID-19) pandemic impact the online education industry growth? Sep 28, 2022 (The Expresswire) -- The estimates in the visualization correspond to regional averages of total year of schooling for females (15-64 years of age), divided by the corresponding regional averages for males (15-64 years of age). The challenges are therefore much larger in these countries. OECD. 9.3.2. 6.2. One possible approach to learn from all these overlapping but disparate international and regional tests, is to put them on a consistent scale, and then pool them together across skills to maximize coverage across years and countries. Education for Growth: Why and for Whom?. Threat of Substitutes Female labour supply, human capital and welfare reform. 9.6.5.6. Figure-76: Argentina Forecast for Online Education Market (Billion US$), 2022 2027 9.3.5. Service Providers Figure-34: Technology Forecast for Virtual classroom Market (Billion US$), 2022 2027 In chapters 5, 6, and 7, the impact of COVID-19 on the different regions in both production and consumption end and SWOT analysis are pointed out. Copyright 2010 - 2022 Renub Research - All Rights Reserved, Over the years, the ubiquity of information technology has been influencing almost all aspects of human lives: the way we work, communicate with others, process data into information, analyse and share information, entertain ourselves, and enjoy tourism. Figure-62: India Forecast for Online Education Market (Billion US$), 2022 2027 Traditions pair well with educational models around the world. Figure-07: User Type Vocational Training Market (Billion US$), 2016 2021 For instance, in July 2021, BYJU'S acquired the U.S.-based kids learning platform Epic in a US$ 500 Million cash-and-stock deal. Their global reach affords significant influence, but as trust declines with mega-brands and as new players enter the fray, giants are having to rethink their strategies. North America Global Online Education Market Analysis, by Geography Argentina Figure-40: United States Forecast for Online Education Market (Billion US$), 2022 2027 Emerging Players and Market Lucrativeness Over one billion more secondary and post-secondary graduates by 2030 Global Education and Training Expenditure is set to reach at least $10T by 2030 as population growth in developing markets fuels a massive expansion and technology drives unprecedented re-skilling and up-skilling in developed economies. Global Early Childhood Care and Education Market Research Report 2022 - Market Size, Current Insights and Development Trends The report focuses on the Early Childhood Care and Education market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends. Considering the influence of COVID-19 on the globalEducationmarket, this report analyzed the impact from both global and regional perspectives. Digital Education Market Insights. This scatter plot compares national average learning outcomes in 1985 and 2015 (or closest years with available data). 6. Figure-70: Australia Forecast for Online Education Market (Billion US$), 2022 2027 These insights are included in the report as a major market contributor. Global Insights from HolonIQs Intelligence Unit. 10.4.4 Colombia Figure-25: Technology Online e-learning Market (Billion US$), 2016 2021 9.3.5.1. The global higher education market size is predicted to reach over USD 63 billion by 2028. Economics of Education Review, 37, 204-212. 10.3.4 South Korea Call us onUSA: +1-678-302-0700 INDIA: +91-120-421-9822. UNESCO Recommendation Concerning the International Standardization of Educational Statistics,Records of the General Conference, tenth session, Paris, 1958: Resolutions, An overview of the academic literature on the historical origins and spread of literacy can be found in Easton, P. (2014). Available online here. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. Data on years of schooling corresponds to 2010 mean years of schooling for the population aged 15 and over (source: Barro Lee Education dataset). Online education will unfold the concept of connected learning. I sold my late mothers home for $250,000. (2010). The OECDs report Education at a Glance (2015) provides descriptive evidence of the link between individual education and income. 9.3 Mobile e-learning This Global Online Higher Education market report brings data for the estimated year 2020 and forecasted till 2026 in terms of both, value (US$ MN) and volume (MT). All of our charts can be embedded in any site. As we can see, learning outcomes tend to be much higher in richer countries; but differences across countries are very large, even among countries with similar income per capita. The rising internet penetration across the globe will drive the industry growth. This chart plots GDP per capita (after adjusting for differences in prices across countries and time), against average student test scores (after homogenizing and pooling international and regional student assessments across education levels and subjects). As S&E capacity has increased globally, the U.S. position has changed despite increases in the absolute amount of S&E activity in the United States. Simulated learning is becoming mainstream in workforce learning, while the Metaverse remains some time away for mainstream education. Economic growth in developing countries: The role of human capital. Figure-53: Spain Online Education Market (Billion US$), 2016 2021 4.3.4. Geographically, the global online education market is studied across North America, South America, Europe, Middle East and Africa (MEA), and Asia-Pacific (APAC). One of the main hurdles in the online education market is the limited accessibility by the poor people in rural areas owing to the low internet penetration and less smartphone adoption. Data on the production of education shows that schooling tends to be largely financed with public resources across the globe, although a great deal of heterogeneity is observed between countries and world regions. Figure-94: Alphabet Inc Forecast for Global Revenue (Million US$), 2022 2027, Table-01: Global Online Education Market Share by User Type (Percent), 2016 2021 11.2 Bargaining Power of Buyers The Global Education PC Market size is expected to reach USD 48.7 Billion by 2030, at a CAGR of 15.30%. For example, Belgium and Canada have roughly similar average outcomes; but Canada has a higher share of students that achieve minimum proficiency, while Belgium has a larger share of students who achieve advanced proficiency. 9.2.5.1. Further, the COVID-19 pandemic caused the closing of classrooms worldwide and forced a billion students and millions of educators to modify their face-to-face academic practices wherever possible suddenly. It shows that income is an important factor that affects both expenditure on education and education outcomes: we can see that above a certain national income level, the relationship between PISA scores and education expenditure per pupil becomes virtually inexistent. 9.4.3. The US Department of Education Funds has identified twelve programs that support both K-12 and Postsecondary institutions that can facilitate broadband infrastructure and adoption. What will be the market value in the future? Figure-48: Germany Forecast for Online Education Market (Billion US$), 2022 2027 9.6.5.3. North America made up about 16% of the market. HolonIQs global market data and analysis through the year powers our Annual Outlook for education, and is available exclusively for HolonIQ customers. User Type - Global Online Education Market, 7.1.1 Higher Education The visualization, plotting public expenditure on education as a share of Gross Domestic Product (GDP) for a number of early-industrialized countries, shows that this expansion took place mainly through public funding.12. 10.3.3 Japan Moreover, these estimates suggest that the incremental benefit from additional education grows with experience: the differences in wages between people with varying degrees of education become larger as they advance in their careers. 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