The Massive Open Online Course (MOOC) Market was valued at USD 5.16?billion in 2019?and is expected to reach USD 21.14 billion by 2025, at a CAGR of 29% over the forecast period 2020?- 2025.?Advances in information and communication technologies are prompting the educators and learners to move past the constraints of time, space, and environment. While a traditional classroom education is well-known, learning systems outside the classroom, especially those enhanced through technology, are still being discussed.
- Massive Open Online Courses (MOOCs) represent the final stage of current technological innovations in distance education, as these offer open educational resources to students all around the world. MOOCs are designed to be scalable to large online masses with free participation and without any formal requirements, and provide millions of individuals, around the world, the opportunity to learn through hundreds of public and private universities or organizations worldwide.
- Some of the major reasons behind MOOCs losing popularity are questionable course quality, high dropout rate, unavailable course credits, ineffective assessments, complex copyright, and limited hardware.
- With the required amount of financial resources at their counters, MOOCs companies are expected to reform and develop more apprenticeship-inclined course materials that can be used in a more blended online format, rather than fully online formats.
Scope of the Report
MOOC or Massive Open Online Courses are online educational courses that can be accessed by the unlimited number of students. These are provided by private companies, non-profit organizations, government institutions and universities across the world. Use of learning analytics for the identification of student progress/failure is expected to gain importance over the forecast period.
Key Market Trends
xMOOC Type is Expected to Hold a Significant Market Share
- xMOOCs have their background in the evolution of open courseware and open educational resources. xMOOCs are generally offered by universities, in collaboration with a commercial organization or a company whose aim is to gain profit.
- xMOOCs are online versions of traditional learning formats (for instance, lecture, instruction, discussion, among others) on proprietary specialist software platforms owned by independent firms. They attribute legitimate and monetary relationships between universities that create content, and technology providers, where X indicates the MOOCs that are content-based and follow a more behaviorist approach.
- X emphasizes a more traditional learning approach through video presentations and short quizzes and testing, and focus on knowledge duplication. xMOOCs are associated mostly with the three largest platform providers: edX, Udacity, and Coursera.
North America Currently Holds the Largest Market Share
- The presence of the infrastructure to support high adoption has helped the market in the North America Region. For instance, in the United States, for a specific course at Georgia Tech and MIT, students were given a choice. They could either enroll in the traditional on-campus course or sign up for a parallel version of the class that would be entirely online. According to the US News World Report rankings, around 22 of the top 25 US universities are now offering courses online, for free.
- Various universities in the US allow MOOCs to contribute toward the completion of the final degree, which is also contributing to the region’s market growth. Some of the renowned universities, such as the UC San Diego, the Arizona University, and the University of Pennsylvania, offer video games as the online learning platform with a multiplayer game interface to support teamwork skills that include shared and communication strategy. Other universities, such as the University of Illinois and Georgia Tech, have announced additional courses with the existing online degree courses.
The MOOC market is moderately competitive and consists of a few major players. In terms of market share, some of the major players currently dominate the market. However, with the growth in the innovative educational platform, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- April 2019 - Udemy announced the launch of its corporate learning product, Udemy for Business, in Spain. In addition to a fully localized product experience, a new collection of courses in Spanish is designed to enable teams and companies to drive more impactful learning through a curated selection of the top technical and business skills.
- November 2017 - GE and Microsoft Corp. agreed to provide free opportunities for Massachusetts residents to take online courses in technologies, such as supply chain management, cybersecurity, cloud computing, or artificial intelligence, through a partnership with edX.org. Besides from considering the top candidates for full-time job opportunities with GE was willing to provide 100 Massachusetts residents with a certificate in an online course offered on edX.org
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