Online Education Market Scenario:
Given the limited classroom hours, widening the scope of education, and the growing difficulty level of exams, everything related to proper education for students cannot be imparted in conventional school classrooms. Hence, online education comes into play and offers study material at a nominal price to eliminate the cost of the classroom. The new research report about the global online education market published by Market Research Future (MRFR) conjectures increase for this market at 28.55% CAGR between 2017 and 2023.

The most important factors assisting the global Online Education Market growth include reasonably priced study material, low infrastructural costs, and worldwide access due to the cloud. The elimination of costs regarding housing and transportation is impacting the market substantially. Online study websites can help students to prepare for exams. The increasing government initiatives to boost online education are also attracting students towards online education. However, the availability of free study material and lack of awareness regarding online education can hurt the market growth.

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Major Key Players:
Major players in the global online education market include Aptara Inc. (USA), Adobe Systems (USA), Blackboard Inc. (USA), DoceboLMS (Italy), Classteacher Learning System (India), K12 Inc. (USA), Edmodo (USA), Lynda.Com (USA), McGraw-Hill Education (USA), Mashable Inc. (USA), PowerSchool Group LLC (USA), Pearson PLC (UK), Udacity Inc. (USA), and Tata Interactive Systems (India).

Market Segmentation:
The global online education market segmentation covers component, end-user, learning, and product. MRFR is exploring features of these segments to realize the upcoming trends and market progress course.

According to the component-based segmentation, this market covers hardware and software. Hardware has been sub-segmented into the mobile devices (like smartphone and tablets), laptop, a personal computer (PC) and others. The software segment has been sub-segmented into world-class, course play, YuJa, and others. During the forecast period, the hardware market has been anticipated to surge at 27% CAGR.

In the context of learning, the market has been segmented into synchronous learning and asynchronous learning. The synchronous learning segment is being sub-segmented into video, chat, voice, and voice streaming. Asynchronous learning segment is being sub-segmented into the digital curriculum, social networking, discussion boards, and others. During the forecast period, the asynchronous learning market is expected to grow at 26.35% CAGR, and its market worth can be USD 65 bn.

Based on the product, the market has been segmented into service, content, and others. The service segment has been sub-segmented into online certifications, higher education & language, casual learning, test preparation, primary & secondary supplement education, and others. The content segment has been sub-segmented into commerce, arts, technical, management, and others. During the forecast period, the content market can rise at 28% CAGR.

Regional Segmentation:
The regional segmentation of the global online education market covers North America, Europe, Asia Pacific, and Rest of the World (RoW).
During the forecast period, North America is expected to hold the largest share in the global market due to technological advancement, growing education industry, and the presence of major market players in the USA. After USA, Canada and Mexico are the most important country-specific markets.

During the forecast period, the Asia Pacific stands a chance to stand as the fastest growing regional market due to the increasing adoption of digital technologies in countries like China, India, and Japan.

Europe can grow as a market due to the availability of basic digital infrastructure and the presence of many important market players. The increasing penetration of online education software by universities is also boosting the market. The influential country-specific markets in Europe are France, Germany, Italy, and the UK.

The RoW segment covers Latin American countries and the Middle East & Africa (MEA). In the MEA region, the market is limited due to the limited availability of technology and lack of awareness. In Latin American countries, the market is limited due to the inadequate availability of technology. Argentina and Brazil are two vibrant economies that may rise as lucrative markets in the future.

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Latest Industry News:
• According to a report, the paid subscribers of Edtech Startup BYJU’S have crossed over 1.5 mn. 13 JUNE 2019

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