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.
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By End Users, government and public sector segment to record significant growth during the forecast period
Enterprises are majorly adopting digital education as a part of their employee engagement and development programs. These companies implement digital education platforms for various purposes, such as training and development, professional certification, and professional courses, to develop their employee’s strategic thinking abilities and improve the company’s production and brand value. Digital education courses act as a cost-effective learning platform to enhance employees’ skills and enable organizations to track their employees’ progress. An organization can opt for tailor-made courses which accomplish the company’s objectives. Digital education also provides the necessary flexibility to train employees without compromising productivity. Online learning approaches, such as microlearning and nanodegrees, provide employees with the skills needed without consuming much of their time.
By Type, the Self-paced Online Education segment to exhibit significant growth during the forecast period
Between the Type, the Self-paced Online Education segment courses do not follow a set schedule. Hence, all the learning resources are readily available, allowing end users to absorb and retain information faster than in a classroom setting. Self-paced online courses do not require instructors and students to be available simultaneously during the entire course. Instructors can record videos or provide content that students can learn without the instructor’s involvement. Unlike self-paced digital education courses, instructor-led digital education courses follow a particular set of schedules with a specified time for the availability of learning resources. More and more educational institutes and companies are using self-paced online education to provide their students and employees with constant access to information. This also provides learners with complete control of their progress.
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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.
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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