Increasing need for scalable open education to the MOOC market
Our analysts expects the global MOOC market size 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. The MOOC market is growing rapidly with an increasing need for scalable and economical open education to help learners access education platforms locally and globally. However, the low completion rate of the courses would limit the growth of the market.
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The postgraduate user type to grow at the highest CAGR during the forecast period
Postgraduate involves learning and studying for academic degrees, academic certificates, academic diplomas, or other qualifications for which a bachelor’s degree is generally required and is part of MOOC. The organization and structure of postgraduate education varies from region to region. The digital aspect of the education has changed the landscape of the education system.
XMOOC platform type to be a larger segment of MOOC in 2018
XMOOC design is used on large MOOC platforms and is based on a format of minimal, asynchronous support, with a subject expert recording content and planning assessments, such as multiple-choice quizzes, programming assignments, or peer-review exercises for the student group to absorb the topic and learn the subject in detail and adjust themselves to the platform format at the time of choosing the platform. The XMOOC approach allows the platform to repeatedly run the same classes throughout the year on a rolling recruitment basis, with the best performing students from the previous group asked to act as community teaching assistants for the upcoming group, thus providing forum moderation, technical support, and limited academic guidance.
MOOC market in Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The high growth of the MOOC market in APAC is attributed to the globalization, rapid economic developments, favorable government policies, and increasing digitalization in the region with the increasing interest of businesses toward technologies, such as BI, big data, and IoT. Rapid modernization and increased penetration of 4G mobile devices have accelerated the adoption of online surfers, ultimately leading to the growth of the MOOC market in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the MOOC market.
The following list provides the breakup of primary respondents’ profiles:
- By Company – Tier 1–22%, Tier 2–30%, and Tier 3–48%
- By Designation – C-Level–30%, Director Level–45%, and Others–25%
- By Region – North America–42%, Europe–26%, APAC–20%, and RoW–12%
The MOOC market comprises major platform providers, such as Coursera (US), edX (US), Pluralsight (US), Edureka (India), Alison (Ireland), Udacity (US), Udemy (US), Mir?adax (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 study includes in-depth competitive analysis of these key players in the MOOC market with their company profiles, recent developments, and key market strategies.
- The MOOC market revenue is primarily classified into revenues from platforms and services. Platform revenue is associated with its types while services’ revenue is associated with associated services.
- The services comprise consulting, implementation and training and support. The market is also segmented on the basis of course, user type, and region.
Key benefits of the report
- The report would help the market leaders/new entrants in the MOOC market with the information on the closest approximations of the revenue numbers for the overall market and the subsegments.
- This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.