Digital Education Market Growing at a CAGR 32.3% | Key Player Coursera, edX, Pluralsight, Udemy, Udacity
MarketsandMarkets forecasts the global Digital Education Market size to grow from USD 11.5 billion in 2021 to USD 46.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 32.3% during the forecast period. Increased internet penetration; reduced infrastructure cost and increased scalability using online learning; increased efficiency, greater convenience, and more flexibility; and rising demand for microlearning are key factors for the growth of the Digital Education market.
By End Users, Academic Institutions segment to hold the larger market size during the forecast period
The Academic Institutions segment of the Digital Education Market is projected to hold the largest market size in 2021. Digital education solutions in the academic sector open up new doors for the sharing of knowledge without boundaries of time and distance. Digital education solutions provide learners with a highly engaging and interactive learning experience that helps them understand concepts better through visually stimulating content.
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By Learning Type, the Instructor-led Online Education segment to grow at the highest CAGR during the forecast period
Among the Learning Type, the Instructor-led Online Education segment is expected to grow at the highest CAGR during the forecast period. Workshops, seminars, crash courses, and any other form of training activity, which is led by a live instructor, can be termed instructor-led online education. Instructor-led online education is an effective means of delivering information. It enables real-time feedback, question and answers, manipulation, and changeable delivery to suit the need of learners in a real-time environment.
The key and emerging market players in the Digital Education market include Coursera (US), edX (US), Pluralsight (US), Udemy (US), Udacity (US), Edureka (India), Alison (Ireland), LinkedIn Learning (US), Jigsaw Academy (India), iversity (Germany), Miriadax (Spain), Intellipaat (India), Edmodo (UK), NovoEd (US), XuetangX (China), Linkstreet Learning (India), Khan Academy (US), Kadenze (US), Federica Web Learning (Italy). My Mooc (France), Treehouse (US), Skillshare (US), CreativeLive (US), CXL (US), GO1 (Australia), BYJU’S (India), DataCamp (US), Platzi (US), and Thinkful (US). These players have adopted various strategies to grow in the Digital Education market.
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Coursera is a Massive Open Online Course (MOOC) provider that offers digital education solutions for businesses, universities, governments, and individuals. The company offers Certificates, MasterTrack Certificates, and Degrees to individual students and offers custom solutions for organizations. The company delivers courses to millions of users through recorded video lectures, auto-graded and peer-reviewed assignments, and community discussion forums. In September 2020, Coursera partnered with Facebook to launch a new Social Media Marketing Professional Certificate. This would help learners without a college degree or any prior experience to become ready for social media marketing jobs within a few months.
edX is a non-profit online learning platform and digital education provider focused on transforming online and classroom learning through distinct methodologies, game-like educational experiences, and cutting-edge research on open-source platforms. The platform offers a wide variety of courses in science, technology, humanities, and other domains. edX offers programs, such as microbachelors programs, bachelor’s degrees, micromasters programs, master’s degrees, and professional certificates. In September 2021, edX partnered with LinkedIn Learning. The integration of LinkedIn Learning Hub would enable customers of edX for Business to discover the right content in one place, easily access skills insights across content sources, and customize the learner experience with curated learning paths.
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