Selbyville, Delaware, Sept. 13, 2023 (GLOBE NEWSWIRE) --
The digital education market valuation is expected to reach USD 210 billion by 2032, as reported in a research study by Global Market Insights Inc.
The report cites that the evolving technological landscape of the e-learning space will stimulate market growth over the next ten years. The ongoing development of educational technology, including virtual reality, augmented reality, artificial intelligence, and interactive content, continues to enhance the digital learning experience.
For instance, in August 2023, Google introduced context-aware access enhancements to improve digital learning safety. These improvements empower administrators to manage app access within organizations more effectively. The updates encompass features like the introduction of the Service Data Addendum for Google Workspace for Education and data processor mode for ChromeOS. These measures aim to bolster security and control over app usage in educational settings, promoting safer digital learning environments. These advancements make learning more engaging, interactive, and effective, attracting more users to digital education platforms, thus strengthening the industry outlook.
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The digital education market from the Instructor-led Online Education segment is anticipated to gain tremendous popularity through 2032, owing to its flexibility and effectiveness. With the convenience of remote learning, students can access high-quality education from anywhere, eliminating geographical constraints. Live interactions with instructors foster engagement and allow for real-time feedback, replicating the classroom experience. Platforms like Zoom and Microsoft Teams have played a pivotal role in making virtual classrooms more accessible. The COVID-19 pandemic accelerated this trend, forcing educational institutions worldwide to adopt online instruction. As a result, instructor-led online education is now a preferred choice for lifelong learners, working professionals, and traditional students seeking a blended learning experience.
The digital education market share from the business management segment will expand at a significant CAGR between 2023 and 2032. Digital education is increasingly favored for business management courses due to its convenience and adaptability. Professionals seeking to advance their careers can access high-quality management training without the need for physical attendance, accommodating their busy schedules. Universities and institutions are offering prestigious online MBA programs, such as Harvard Business School's Online Core program, demonstrating the credibility and effectiveness of digital education. The COVID-19 pandemic has further accelerated this shift, making online business management courses an attractive choice for those looking to enhance their skills and credentials in a rapidly evolving business landscape.
Asia Pacific digital education market will exceed USD 59 billion by 2032. Increased internet penetration, smartphone accessibility, and a growing middle-class population have expanded the potential student base. The COVID-19 pandemic accelerated the adoption of online learning across the region, making it a necessity for continuity in education. In September 2023, Adobe teamed up with India's Union Education Ministry to offer Adobe Express-based curriculum and training to schools in the country.
The initiative, announced by Union Education Minister Dharmendra Pradhan during the G-20 Leaders' Summit in India, aims to impact 2 crore students and 5 lakh educators by 2027. In an era of digitization and innovation, this collaboration is set to establish a new educational standard, fostering creativity and skill development among students. Platforms like Byju's and Vedantu in India and VIPKID in China have seen substantial growth, demonstrating the rising demand for digital education in the Asia Pacific, where quality education and skill development are highly valued, propelling regional market revenue.
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Some of the leading companies operating in the digital education market include Udemy Inc., Miriadax, Datacamp Inc., Coursera Inc., Alison, Iversity Learning Solutions GmbH, Xuetangx, Pluralsight LLC, Novoed, Intellipaat, Unext, Edx Inc., Udacity, Inc., and BYJU's. These firms are committed to implementing innovative approaches to enhance their market reach and solidify their market standing. They are also prioritizing strategic partnerships and engaging in mergers and acquisitions to extend their influence into new geographical markets.
For instance, in April 2023, Coursera announced new VR-enabled educational experiences from Duke University, Peking University, and the University of Washington, which use the potential of virtual reality to make learning more engaging. In addition, Meta has introduced a new AR Professional Certificate and Specialization to assist learners in developing job-relevant AR abilities.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Digital education market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Learning type trends
2.5 Course type trends
2.6 End-user trends
Chapter 3 Digital Education Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Course type & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Growing internet penetration across the globe
3.10.1.2 Rise in demand for personalized learning
3.10.1.3 Rising investments in educational technologies
3.10.1.4 Increasing demand for micro and adaptive learning
3.10.2 Industry pitfalls & challenges
3.10.2.1 Increasing health concerns due to increase in screen-time
3.10.2.2 Security and privacy concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
