The massive open online course market is expected to be valued at US$ 10 billion in 2023 and to grow to US$ 48.4 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 16.2%.
The growing need for demo classes, professional and up-to-date courses is driving the development of massive open online courses. The growing popularity of digital courses, as well as the availability of multiple courses, are driving market growth. Furthermore, students’ growing interest in e-learning and the rise of tailored courses are driving up demand for massive open online courses.
The increased popularity of massive open online courses due to improved results, productivity, and learning requirements drives the market size even higher. The accessibility of instructional platforms such as Google Meets, Microsoft Teams, and Zoom is expanding market prospects. Due to social alienation during the COVID-19 crisis, students increased their demand for massive open online courses, considerably boosting market growth.
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The Internet of Things and artificial intelligence are driving market growth.
Through artificial intelligence and the Internet of Things, educational providers are introducing new technologies into the education system to make it easier to learn. Nowadays, online presence is critical in the educational sector. The vast open online course market potential are driven by the increasing demand for visual reality and numerous personality-based courses.
Educational tutors are concerned with providing pupils with a better source of learning. These teachers, on the other hand, capture students’ interest by offering discounts on quarterly and yearly courses. Teachers dispel students’ concerns about various educational methods such as audio, video, and graphics, hence encouraging the use of massive open online courses.
How is the United States Market Significantly Expanding?
The United States is dominating the global market by securing a CAGR of 16% with an impressive valuation of US$ 15.9 billion during the foreseen time. The rising demand for postgraduate and professional courses among students is propelling the market growth in the United States. Government initiative plans, several universities and educational institutes in the United States are further advancing the market opportunities. The United States registered a CAGR of 10.7% from 2017 to 2022.
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Key Takeaways:
- The massive open online coursemarket is expected to have a valuation of US$ 48.4 billion by 2033.
- With a CAGR of 16.2%, the global market increasing from 2022 to 2033.
- The United States’ massive open online course marketis anticipated to witness a CAGR of 16% through 2033.
- With a CAGR of 15.2%, the United Kingdom market significantly uplifts during the forecast period.
- China market is expected to secure a CAGR of 15.5% over the forecast period.
- Japan market is expected to capture a CAGR of 14.6% from 2023 to 2033.
Competitive Landscape:
The present prominent players fragment the market. These players are improving the way of teaching through the digital learning process. They are focusing on up surging the level of education by providing graphic videos on a particular topic for the students. The strategies adopted by the key players are partnerships, agreements, mergers and collaborations.
Key Players in the Market are:
- EDX
- Udacity
- Futurelearn
- Edureka
- Intellipaat
- Iversity
- Pluralsight
- Udemy
- Xuetangx
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Recent Developments:
- In Nov 2022, the University of California, Riverside Extension and edX announced their collaboration to develop MOOC on the education platform edX. These companies focus on providing courses on world language, well-being, and mental health.
- In 2020, the online education platform, Udacity announced its new extension to provide several topics courses such as web server, self-driving and iOS courses. The company’s main aim is to provide education on democratizing.
Massive Open Online Course Market by Category
By Component:
- MOOC Platforms
- XMOOC
- CMOOC
- MOOC Services
- Consulting Services
- Implementation Services Training & Support Services
By Course:
- Humanities
- Computer Science & Programming
- Business Management
- Science
- Health & Medicine
- Education & Training
- Engineering
- Others
By End Use:
- High Schools
- Under Graduates
- Post Graduates
- Corporates
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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