Dallas, Feb. 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global digital education market is expected to grow from USD 7.78 Billion in 2020 to USD 107.25 Billion by 2030, at a CAGR of 30% during the forecast period 2021-2030.
Education is one of the most important sectors in the world that has seen substantial transformations in recent years. Digital Education is the solution for this global scourge of education. It is especially beneficial to underdeveloped countries, which have long struggled with issues of access and affordability. Digital education is defined as an innovative technique of incorporating digital technology and tools into the teaching and learning process and is also known as Technology Enhanced Learning (TEL) or digital learning. The term "digital education" refers to the creative use of technology to exchange ideas and reach a wider audience. The key drivers of the digital education industry include increasing internet penetration, time constraints experienced by aspirants, geographical obstacles in attending physical classes, and the low cost of online instruction. Furthermore, as the demand for high-quality certification grows, more people are turning to digital learning programmes.
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The increasing usage of smartphones, the rise in internet penetration across the globe, engaging teaching methods, availability to global material, and educators' important aspects driving market expansion are all major reasons driving market growth. Personalized learning, effective self-directed learning skills, sharpened critical thinking skills, self-motivation, and expanded learning possibilities are the fundamental qualities of digital education for students and professionals.
Key players operating in the global digital education market are Alison, Coursera, Edmodo, Edureka, edX, Federica EU, FutureLearn, Intellipaat, Iversity, Jigsaw Academy, Kadenze, Khan Academy, LinkedIn, Linkstreet Learning, Miríadax, NovoEd, Pluralsight, Udacity, Udemy and XuetangX among others. To enhance their market position in the global digital education market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• In response to the COVID-19, Coursera announced an initiative in March 2020 to assist universities and colleges in delivering learning online. Through Coursera for Campus, the business has stated that it will provide free access to the course catalogue to all impacted universities around the world. Universities can sign up and give their students access to Coursera's leading university and business partners' more than 3,800 courses and 400 specialties.
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The science, technology, engineering, & mathematics (STEM) segment dominated the market with a market share of around 66% and the market value of around 5.13 billion in 2020.
The course type segment is divided into business management, science, technology, engineering, & mathematics. The science, technology, engineering, & mathematics (STEM) segment dominated the market with a market share of around 66% and the market value of around 5.13 billion in 2020. Computer science, health and medicine, engineering, chemistry, and physics are a few of the scientific and technology subjects available. Computer science and programming are both concerned with the development and testing of algorithm-based computational systems. The growing use of IoT in companies demands the hiring of trained workers who can manage data using a variety of tools, methodologies, and programming languages. Companies have begun to rely on digital education platforms to upskill their employees, which has resulted in a surge in the use of computer science and programming courses in recent years.
The instructor-led online education segment is expected to grow at the fastest CAGR of 32% over the forecast period.
The learning type segment is divided into instructor-led, self-paced. The instructor-led online education segment is expected to grow at the fastest CAGR of 32% over the forecast period. Instructor-led online education involves the delivery of content to students by the instructor, who delivers direct instructions to students, either individually or in groups, at some time during the course. The demand for instructor-led online education is predicted to rise as students become more aware of the benefits of instructor-led education.
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The academic institutions and individuals segment dominated the market, accounting for around 70% of global revenue in 2020.
The end user segment is divided into enterprises, individuals, and academic institutions. In 2020, the academic institutions and individuals segment dominated the market, accounting for around 70% of global revenue.
Regional Segment Analysis of the Digital Education Market
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America region emerged as the largest market for the global digital education market with a market share of around 35.8% and a market value of around 2.79 billion in 2020. North America leads the digital education market, owing to a growing need to improve employee skills and student technicalities, increased scalability through online learning, rising demand for distance education and government initiatives, and increased penetration of handheld devices in this region.
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About the report:
The global digital education market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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