The market for massive open online courses is expected to reach US$ 10 billion in worth in 2023 and US$ 48.4 billion by 2033. The market is projected to grow at a 16.2% CAGR during the projected period.
Massive open online courses are becoming more and more popular due to the growing need for professional, up-to-date courses and demo sessions. Market expansion is driven by the increasing popularity of digital courses and their abundance. Furthermore, the need for massive open online courses is expanding due to students’ growing interest in e-learning and increasingly customized courses.
The increasing adoption of massive open online course due to effective results, productivity, and enhanced learning requirements propel the market size further. The availability of educational tools, including Google Meets, Microsoft Teams and Zoom, are advancing the market opportunities. In the COVID-19 crisis, due to social distancing, the students increased the demand for massive open online course, which significantly boosted the market growth.
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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.
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)
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