Key players are focusing on launching online courses and designing new education modules to offer quality massive open online courses (MOOC) to leverage on the prevalent opportunities.
DUBAI, UAE / ACCESSWIRE / January 13, 2021 / As per FMI, the global MOOC market is projected to expand at an impressive CAGR of 16.5% amid the assessment period, 2020-2030. The MOOC market is growing rapidly owing to the rise in demand for online education in the ongoing pandemic. The new social norms and extended lockdown have ensued in skyrocketing demand for several MOOC for college-goers, school students, and others.
"With digitization attaining rapid traction, the demand for MOOC has augmented notably in the previous decade. The COVID-19 outbreak has further encouraged the market growth globally. This trend will last even after the pandemic fades. With governments all over the globe taking initiatives to make training and education accessible to all, the market will gain traction in the forthcoming years." states the FMI analyst.
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Massive Open Online Course Market- Important Highlights
- North America will continue to lead among other regions, on the other hand, East Asia will reflect high growth prospects throughout 2030.
- Platform segment will remain lucrative in terms of component due to the growing demand from the key end users such as corporate, under graduates, post graduates, and others.
- Education & training category is likely to propel demand in the global market over the assessment period.
- Post graduates are anticipated to gain traction over the projected period.
Massive Open Online Course Market - Drivers
- Extended lock down periods due to COVID-19 outbreak trailed by the shutting down of colleges, schools, and other educational institutions impacted the conventional ways if education, thus driving market growth.
- Digital advancements in online courses is boosting the growth of the MOOC market significantly.
Massive Open Online Course Market - Restraints
- Online classes are often not reflected a better substitute of institutional training, particularly for the school going kids.
- MOOCs are yet to be adopted entirely in underdeveloped and rural areas owing to the absence of proper resources and infrastructure.
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COVID-19 Impact on Market
As the MOOC market got impacted by the onset of the COVID-19 outbreak earlier in 2020, the surging demand for several online courses trailed soon after. With the purpose of continuing the respective courses as educational institutions, colleges, and schools remained closed amid lockdown the implementation of online courses and education increased significantly. Although the world is recuperating and is likely to get back to normal in a few years, the preference towards online courses is projected to boost further in the approaching years.
The MOOC market is projected to witness fierce competition in the approaching years with the entrance of new players. Established players are thus launching a widespread variety of MOOCs to leverage on the prospects of the market. Majority of the key market players include EDX, Futurelearn, Udacity, Edureka, Edmodo, Iversity, Intellipaat, Pluralsight, LinkedIn, Xuetangx, Udemy, Alison, Novoed, EdTech and Federica EU.
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About the Study
The study offers readers a comprehensive assessment of the massive open online course market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of component (platform, services), course (humanities, computer science & programming, business management, science, health & medicine, education & training, engineering, and others), end user (high school, under graduates, post graduates, corporate), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
3.3. Key Success Factors
4. COVID-19 Pandemic Crisis Impact Analysis
4.1. Impact of COVID-19 Pandemic Crisis on Online Education Market Growth
4.2. Pre-COVID-19 Growth Analysis (2017-2019)
4.3. Post-COVID-19 Impact Analysis (2020 & beyond)
4.4. Expected Growth/Recovery Scenario (Short-term / Mid-term / Long-term)
4.5. Key Action Points for MOOC Vendors
5. Market Structure Analysis
5.1. Market Analysis by Tier of Companies
5.2. Market Concentration
5.3. Market Share Analysis of Top Players
5.4. Market Presence Analysis
5.4.1. Regional footprint by Players
5.4.2. Solution footprint by Players
5.4.3. Channel footprint by Players
6. Global Massive Open Online Course Market Demand (in Value in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
6.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
6.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
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