The massive open online course market is projected to capture a valuation of USD 10 billion in 2023 and is rising to USD 48.4 billion by 2033. The market is predicted at a CAGR of 16.2% during the forecast period. The following factors are driving market size:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 16.2% |
| Market Valuation (2023) | USD 10 billion |
| Market Valuation (2033) | USD 48.4 billion |
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The massive open online course is significantly growing which in turn surging the market share. Apart from that, the market faced various limiting factors that may decline the market growth. A few declining factors are the lack of laptops and personal computers in rural and underdeveloped areas are restraining the market growth.
The lack of internet and network connection in the villages is declining the market growth. Moreover, the availability of fewer resources by online institutions also lacks market size. Recently, a report by Brookings stated that the performance of students goes worst in online classes due to a lack of concentration and discipline. These few factors are faced challenges in the global market.
Rising demand for massive open online course is expected to boom the market growth due to its online presence. The growing demand for online courses, highly developed infrastructure and the Internet of Things are expected to drive market opportunities. The prominent vendors are focused to provide the relevant topic courses as per students' requirements.
These vendors provide monthly, quarterly and yearly courses on certain discounts, attracting consumers' attention is expanding market growth. According to the International Statistics report, North America's MOOC sector has grown to 30% in the last 10 years, contributing significant growth
According to Future Market Insights, the global massive open online course market is predicted at a healthy 16.2% CAGR during the forecast period. Historically, the market registered a CAGR of 11.1% between 2017 and 2022.
During the COVID-19 crisis, the adoption of massive open online course changed the teaching methods from switching offline to online. The students and teachers connected through various educational tools to teach, guide and clear students' doubts. From online teaching to giving online exams, the students took advantage of a digital presence that increased the all over market growth.
Digitization plays a significant role in making massive open online courses more efficient, effective and smooth. In June 2019, G20 Summit in Japan discussed digitization, its improvement and its outcomes. Around 100's organizations build advanced, secure open digital initiatives that play a significant role in market expansion.
Short Term (2023 to 2026): Growing digitization and easy-to-get study resources are increasing the demand for massive open online course.
Medium Term (2026 to 2029): The availability of study infrastructure, such as laptops and personal computer, are driving the market expansion.
Long Term (2029 to 2033): Increasing Internet of Things, discounts on educational tools and governments supports are boosting the market opportunities.
The market is estimated to reach USD 48.4 billion during the forecast period. Historically, the market stood at USD 9.1 billion from 2017 to 2022.
| Segments | Component |
|---|---|
| Top Category | MOOC Platform |
| Historic CAGR | 11% |
| Forecast CAGR | 16.1% |
| Segments | End Use |
|---|---|
| Top Category | Post Graduates |
| Historic CAGR | 10.8% |
| Forecast CAGR | 15.6% |
Based on components, MOOC platform is likely to lead the global market by capturing a CAGR of 16.1% during the forecast period. Increasing demand for MOOC platform by students due to effective learning solutions is driving market expansion. Various MOOC platforms provide practical lessons, short courses, and quizzes to improve students learning consequently increasing the adoption of MOOC platform.
Popular MOOC platforms such as Udemy, Digital Garage, FutureLearn and Edx are driving the market opportunities. The growing demand for real-time quizzes, learning solutions, and instant test results are advancing the market growth. The MOOC platform secured a CAGR of 11% in the historical period between 2017 and 2022.
Based on end use, postgraduates dominate the global market by capturing a CAGR of 15.6% during the forecast period. The surging demand for postgraduate courses, including art, science, commerce and computer, is flourishing in the market growth. The rising postgraduate students around the globe is expanding the market size.
In 2018, according to European Commission, between 17.5 million educational students, around 40% of students studying for master’s degrees, are expected to boost by 2033. The postgraduates’ category secured a CAGR of 10.8% in the historical period between 2017 and 2022.
| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 10.7% |
| CAGR (2023 to 2023) | 16% |
| Valuation (2023 to 2033) | USD 15.9 billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 9.7% |
| CAGR (2023 to 2023) | 15.2% |
| Valuation (2023 to 2033) | USD 1.9 billion |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 10.3% |
| CAGR (2023 to 2023) | 15.5% |
| Valuation (2023 to 2033) | USD 3.3 billion |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 9.2% |
| CAGR (2023 to 2023) | 14.6% |
| Valuation (2023 to 2033) | USD 2.6 billion |
| Country | South Korea |
|---|---|
| CAGR (2017 to 2022) | 7.8% |
| CAGR (2023 to 2023) | 13.8% |
| Valuation (2023 to 2033) | USD 1.5 billion |
The United States is leading the global market by occupying a CAGR of 16% with a valuation of USD 15.9 billion during the forecast period. The increasing online courses, post & undergraduate, and professional courses propel the United States' massive open online course market. Rising government initiatives to expand the level of education and launching of new programs are flourishing in the United States market.
Popular universities such as Arizona University, UC San Diego and the University of Pennsylvania provides online learning platform through video games. Other universities provide additional courses, and online degrees are contributing to drive the market growth. In the historical period, the United States secured a CAGR of 10.7% between 2017 and 2022.
China is one of the leading countries in Asia Pacific market. China is capturing a CAGR of 15.5% with a valuation of USD 3.3 billion during the forecast period. Increase in the requirements for corporate and online courses are expanding China’s massive open online course market. The growing Internet of Things and online education tools further increase market opportunities.
Increasing advanced technologies in online courses, including Artificial Intelligence and machine learning, are driving market growth in China. Rising IT players and key marketers are innovating new and easy-to-learn skills are growing market size. In the historical period, China secured a CAGR of 10.3% between 2017 and 2022.
The United Kingdom is securing a CAGR of 15.2% with a valuation of USD 1.9 billion during the forecast period. The European Association of Distant Learning Universities is taking initiatives to promote better online courses with research agenda in Europe. Increasing the adoption of massive open online course by several colleges in the United States is creating professional courses awareness.
Imperial College London has started online professional degree courses based on degree games. The education providers such as Udemy, Lynda, SkillSoft and BigThink focus on providing technical education with superior content. Increasing new subject courses are expected to bring market opportunities in the United Kingdom market. In the historical period, the United Kingdom massive open online course market secured a CAGR of 9.7% between 2017 and 2022.
Japan is securing a CAGR of 14.6% with a valuation of USD 2.6 billion during the forecast period. The rising colleges and educational centers is propelling the market size. Emerging economies, student population and better educational infrastructure, are booming Japan's massive open online course market.
Japan is rising the education level through digital technologies to provide quality courses to students. The government initiatives have several plans to provide smart education and unique methods to explain certain doubts related to subjects among students. An increase in online learners and learning resources such as smartphones and laptops are boosting the market size. In the historical period, Japan secured a CAGR of 9.2% between 2017 and 2022.
The prominent players are playing a crucial role by taking efforts in the market growth. These players focus on providing better resources related to the subjects to students. The players also aim at advancing the learning skills among the students by providing them with unique learning skills through digitization, such as explaining topics through video and graphics.
The market players are making various strategies to acquire maximum output. Their marketing tactics include mergers, partnerships, acquisitions, agreements, and collaborations.
Recent Developments in the Market are:
In 2020, an online education institute, Udacity, launched a new extension tool for several topics, including self-driving, HTTP, iOS courses and the web server. The company further focuses on providing special democratizing education.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa, others |
| Key Segments Covered |
Component, Course, End User, Region |
| Key Companies Profiled |
EDX; Udacity; Futurelearn; Edureka; Intellipaat; Iversity; LinkedIn; Pluralsight; Udemy; Xuetangx; Novoed; Alison; EdTech |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global industry is expected to reach a valuation of USD 10 billion in 2023.
EDX, Udacity and Futurelearn are the leading the global industry players.
The global massive open online course industry is likely to reach a valuation of USD 48.4 billion by 2033.
Rising popularity of digital advancements will drive industry sales.
The MOOC platform segment to remain preferred component through 2033.
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Massive Open Online Course Market
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