“MOOC Market by Component (Platforms (XMOOC and CMOOC), Services), Course (Humanities, Computer Science and Programming, and Business Management), User Type (High School, Undergraduate, Postgraduate, and Corporate) and Region – Global Forecast to 2023″
[145 Pages Report] The global MOOC market size is expected to grow from USD 3.9 billion in 2018 to USD 20.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 40.1% during the forecast period. MOOC is a course with the option of free and open registration and is a publicly shared platform with open-ended groups. MOOCs integrate social networking and accessible online resources facilitated by leading practitioners in their respective fields of study. MOOC builds on the engagement of learners who self-organize their participation according to learning goals, prior knowledge and skills, and common interests. The need of the scalable and economical educational platform to cater to the need of learners across the globe is boosting the growth of the MOOC market at a high CAGR.
The MOOC market study aims at estimating the market size and growth potential of the market across segments, such as component (platform and services), course, user type, and region.
Service segment to hold the largest market size during the forecast period
The MOOC market by component covers MOOC platform and associated services. The service segment is expected to outgrow the platform segment and see the maturation in the future due to the higher adoption.
Corporate user type segment to continue its dominance in terms of revenue generation during the forecast period
Corporates are increasingly adopting the MOOC as a part of their employee engagement and development program. They implement MOOC platforms for various purposes, such as training and development, professional certification, and professional courses for developing their employees’ strategic thinking abilities and improve the production and brand value of the company. The MOOC acts as a cost-effective learning platform to enhance the skillsets of the employees and enable organizations to track their employees progress.
Education and training course type to grow at the highest CAGR during the forecast period
Education and training facilitates learners with knowledge, values, beliefs, habits, and skills, and helps them to implement the same in various enterprises. In the era of continuous advancements where professional upfront demands adaptation to innovative technologies, education and training courses help teachers, educators, professors, and trainers to enhance their teaching or training skills. These MOOC courses also equip the faculty and teaching staff of universities and colleges to understand the modern pedagogical approaches required by the learners. Several companies have formed partnerships with MOOC vendors to equip their employees with knowledge, how to implement required skills for competences in particular occupations or more broadly on the labour market.
North America to hold the largest market size during the forecast period
The global MOOC market by region covers 5 major geographic regions: North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is projected to hold the largest market size during the forecast period, owing to a large presence of many solution vendors in the US.
Key MOOC Market Players
The MOOC market comprises major solution providers, such as Coursera (US), edX (US), Pluralsight (US), Edureka (India), Alison (Ireland), Udacity (US), Udemy (US), Miríadax (Spain), Jigsaw Academy (India), Simplilearn (US), iversity (Germany), Intellipaat (India), Edmodo (US), FutureLearn (UK), LinkedIn (US), NovoEd (US), Open2Study (Australia), WizIQ (India), Skillshare (US), XuetangX (China), Federica (Italy), Linkstreet Learning (India), Khan Academy (US), and Kadenze (Spain).
The study includes in-depth competitive analysis of key players in the MOOC market with their company profiles, recent developments, and key market strategies. The players in the MOOC market have embraced different growth strategies to expand their global presence and market shares. New product launches and upgradations, partnerships, agreements, and collaborations, have been major growth strategies adopted by the leading players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer base.
Key Questions addressed by the report:
- Where will all these developments take the industry in the mid to long-term?
- What are the drivers, restraints, opportunities, and challenges of the MOOC Market?
- Which are the leading players operating in the MOOC market?
- How is the market segmented into different courses, user types, and components?
- How is the market segmented into 5 major regions–Norths America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America?
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