The global market for Massive Open Online Courses market is experiencing robust growth, with forecasts projecting a substantial compound annual growth rate (CAGR) of 16.2% from 2023 to 2033. Starting at a valuation of USD 10 billion in 2023, the market is expected to expand significantly, reaching USD 48.4 billion by the end of 2033.
Several key factors are driving this remarkable growth trajectory. The widespread adoption of digital advancements over the past decade has significantly increased the demand for MOOCs, offering learners access to a diverse range of courses at affordable prices. The availability of language courses, low-cost options, demo classes, and personalized learning tracks are pivotal in driving market expansion, catering to the diverse educational needs of students worldwide.
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Artificial Intelligence and the Internet of Things Drive the Market Growth
Educational providers are bringing new technology into the education system to easy-to-learn through artificial intelligence and the Internet of Things. Online presence is a crucial factor nowadays in the educational sector. The increasing demand for visual reality and numerous personality-based courses drive the massive open online course market opportunities.
The educational tutors focus on delivering a better source of learning to the students. Conversely, these tutors attract students’ attention by providing discounts on quarterly and yearly courses. Teachers clear students’ doubts about the several educational tools on audio, video, and graphics, increasing the adoption of massive open online course.
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.
Key Takeaways:
- The massive open online course market 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 market is 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.
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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
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)
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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