Massive Open Online Course (MOOC) Market Revenues to expand $20.8 billion by 2023
According to a new market research report "MOOC
Market by Component (Platforms (XMOOC and CMOOC), Services),
Course (Humanities, Computer Science and Programming, and Business Management),
User Type (High School, Undergraduate, Postgraduate, and Corporate) and Region
- Global Forecast to 2023", is
expected to grow from USD 3.9 billion in 2018 to USD 20.8 billion by 2023, at a
Compound Annual Growth Rate (CAGR) of 40.1% during the forecast period. Key
growth factors for the market include an increasing need for scalable open
education, global training, and cost-effective education platforms.
Browse and in-depth TOC on “MOOC Market”
67 - Tables
29 - Figures
145 - Pages
Corporates
segment to hold the largest market share in 2018 during the forecast period
Corporates
are increasingly adopting the MOOC as a part of their employee engagement and
development programs. They implement MOOC platforms for various purposes, such
as training and development, professional certification, and professional
courses, for developing their employees’ strategical thinking abilities and
improving the production and brand value of the company. The MOOC acts as a
cost-effective learning platform to enhance the skill sets of the employees and
enables organizations to track their employees progress. An organization can
also opt for tailor-made courses, which can help the organization to meet its
objectives.
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XMOOC platform to dominate the market
owing to high quality content from universities and supportive initiatives by
governments
A majority
of MOOC providers are adopting the XMOOC platform over the other existing
platforms, due to the various learning alternatives being offered by the
platform. These alternatives can be a time-flexible learning path, enabling
learners to access learning resources whenever required, or a pre-defined
structure with a specific time-bound learning and assessment path, or a
combination of both. XMOOC would probably tend to have a greater impact on MOOC
due to its other features, such as capstone projects, real- world simulation
environment, and high-quality content provided by the leading partnering
universities, courses provided at a very affordable cost and consistent
financial support for the development. The users are also encouraged to adopt
the XMOOC platform at a higher growth rate due to the rise in the college
costs, followed by the shrinking value of the undergraduate degrees.
Education and training segment to
grow at the highest CAGR during the forecast period
Education
and training facilitates learners with knowledge, values, beliefs, habits, and
skills and helps them implement the same in various enterprises. In the era of
continuous advancements where professional upfront demands adaptation to
innovative technologies, education and training courses help teachers,
educators, professors, and trainers to enhance their teaching or training
skills. The MOOC courses also equip the faculty and teaching staff of universities
and colleges to understand the modern pedagogical approaches required by the
learners. Several companies have formed partnerships with MOOC vendors to equip
people with knowledge about, how to implement required skills for competences
in particular occupations or more broadly in the labour industry.
North America to hold the largest
market size in the MOOC market during the forecast period
North
America is expected to hold the largest market size in the MOOC market by
region during the forecast period. It is the most advanced region in terms of
technology adoption and IT infrastructure. The large presence of key MOOC
vendors and the widespread awareness about such platforms would help North
America to continue to hold the largest market size during the forecast period.
The MOOC
market comprises major solution providers, such as Coursera (US), edX (US),
Pluralsight (US), Edureka (India), Alison (Ireland), Udacity (US), Udemy (US),
Miríadax (Spain), Jigsaw Academy (India), Simplilearn (US), iversity (Germany),
Intellipaat (India), Edmodo (US), FutureLearn (UK), LinkedIn (US), NovoEd (US),
Open2Study (Australia), WizIQ (India), Skillshare (US), XuetangX (China),
Federica (Italy), Linkstreet Learning (India), Khan Academy (US), and Kadenze
(Spain). The report provides in-depth competitive analysis of these key players
in the global MOOC market with their company profiles, recent developments, and
key market strategies.
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