The global digital education market size is expected to reach USD 73.70 billion by 2028 according to a new study by Polaris Market Research. The report “Digital Education Market Share, Size, Trends, Industry Analysis Report, By Course (Science, Technology, Engineering, and Mathematics [STEM], Business Management, Others), By Learning (Self-Paced, Instructor-led), By End-Use (Academic Institutions & Individuals, Enterprises), By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is emerging owing to the factors such as the proliferation of smartphones coupled with the rising internet penetration across the globe. In addition, increasing educational policies & initiatives by the governments, less infrastructural expenses, and advanced techniques & patterns for learning also contribute to the market development. Growth is linked with technological development such as AI and machine learning in online schooling, which, in turn, impel industry growth over the foreseen period.
Based on end-user, the academic institution segment is spotted with the highest shares in the global industry. The academic institution plays a major role in the schooling sector for offering lessons by the expertise professionals. Therefore, this pandemic's wake boosts the demand for online schooling, which further leads to segment dominance globally. While the enterprise segment is expected to increase at a vigorous rate owing to the rising penetration of the online medium along with the growing needs of consumers. In addition, the widespread of the COVID-19 also fuels the segment growth for fulfilling customer demands and adapting to the new environmental operations thus, it thrives on the enterprise demand.
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The increasing adoption of digital solutions across industry is leading to the reformation and up-gradation of the teaching system. Online schooling is paving the way for the modernized education environment by offering flexibility and convenient method of learning. As a result, the establishment and digitalization of EdTech startups are fostering the adoption of online schooling platforms around the world. The availability of several digital schooling techniques such as digital textbooks, e-notes, e-lectures, online exams, courses, etc., also acts as a catalyzing factor for the global market growth.
Major participants such as, Brain4ce Education Solutions, Alison Coursera Inc., Edureka, edX Inc., FutureLearn, Edmodo, Intellipaat, Iversity, Jigsaw Academy, Kadenze, Khan Academy, LinkedIn, Linkstreet Learning, NovoEd, Pluralsight LLC, Udacity, Inc., Udemy, Inc, XuetangX are some of the key players operating in the global industry.
There are numerous market competitors launching and planning several market strategies or policies for intensifying their business operations worldwide. For instance, in February 2021, UNICEF and the Ministry of Education and Science introduced their online teaching learning platform named “shkollat.org” for 345,000 students by collaborating with Cambridge University and Microsoft. This platform consists of educational & research models and digital platforms, including overall capabilities and functionalities in both online and offline measures.
Polaris Market Research has segmented the digital education market report on the basis of course, learning, end-use and region:
Digital Education, Course Type Outlook (Revenue - USD Million, 2016 - 2028)
Digital Education, Learning Type Outlook (Revenue - USD Million, 2016 - 2028)
Digital Education, End-Use Outlook (Revenue - USD Million, 2016 - 2028)
Digital Education, Regional Outlook (Revenue - USD Million, 2016 - 2028)