New York, March 02, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Digital Education Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by End User (Individual Learners and Academic Institutions, Enterprises and Government Organizations); Learning Type (Self-Paced Online Education, Instructor-Led Online Education); Course Type (Science and Technology Courses, Entrepreneurship and Business Management Courses, Others) and Geography”, the global digital education market size was valued USD 11.62 billion in 2021 and is expected to reach USD 54.95 billion by 2028 and registering at a CAGR of 26.1% between 2022 and 2028.
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Global Digital Education Market – Report Scope:
| Market Size Value in | USD 11.62 Billion in 2021 |
| Market Size Value by | USD 54.95 Billion by 2028 |
| Growth rate | CAGR of 26.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Course Type, Learning Type, End User, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Digital Education Market: Competitive Landscape
Intellipaat Software Solutions Pvt. Ltd.; Coursera, Inc.; Udemy, Inc.; edX, Inc.; and Kadenze, Inc. are among the key digital education market players profiled during the study. Several other major market players were studied and analyzed during this research study to get a holistic view of the digital education market and its ecosystem.
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Global Digital Education Market – Growth Dynamics:
The adoption of machine learning (ML), artificial intelligence (AI), and big data is fueling the growth of the digital education market. Enterprises are increasingly deploying AR- and VR-based training modules for their employees, which provide hands-on training on certain aspects of their jobs while avoiding potential risks. These factors are also contributing to the strong growth of the digital education market.
Insufficient infrastructure in developing countries is a limiting factor for the digital education market, as it results in unstable internet connectivity, low bandwidth, and frequent power outages, impeding market growth. However, many countries are prioritizing infrastructure development, and efforts to create a digital economy are helping to mitigate these obstacles. Consequently, the impact of these constraints on market growth is predicted to diminish by the end of the forecast period.
Global Digital Education Market – Industry Overview:
Digital education, also known as technology-enhanced learning (TEL), e-learning, and digital learning, refers to the integration of modern technologies and digital tools in the learning and teaching process. The digital education market is primarily driven by the increasing penetration of the internet. The widespread availability of the internet, along with the growing number of smartphone and tablet users, has transformed the digital education landscape. Academic institutions and businesses are increasingly adopting digital modes for knowledge delivery, enabling learners to access learning materials at their preferred time. Digital education provides new ways of learning through adaptive and blended approaches. Adaptive learning enables learners to learn at their own pace, while blended learning offers a combination of methods, such as classroom instruction and one-on-one education. The widespread use of the internet has facilitated these trends and the adoption of digital education technologies. Furthermore, the integration of augmented reality (AR) and virtual reality (VR) is introducing new dimensions to digital education.
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Global Digital Education Market – Segmentation:
The digital education market is categorized by course type into science and technology courses, entrepreneurship and business management courses, and others. Science and technology courses are in high demand and often require a blended approach due to their complexity. The use of AR and VR can enhance the understanding of the subject matter and provide practical knowledge virtually, even without the physical presence of the subject matter. For example, a student can disassemble a motor virtually with the use of 3D renditions, regardless of their location. These benefits and the integration of technology are driving the growth of the digital education market. Entrepreneurship and business management courses also have good demand as digital education allows users to pursue higher education while maintaining their daily jobs. The combination of these factors supports the growth of the digital education market.
The digital education market is categorized by learning type into two segments: self-paced online education and instructor-led online education. Self-paced online education is the preferred choice for both academic institutions and corporates as it provides the learner with the flexibility to access and learn at their own pace and convenience. On the other hand, instructor-led online education is a suitable option for several academic institutions that require interaction between the teacher and student. This mode of education simulates a classroom environment to some extent, allowing the learner to clarify doubts in real-time and gather knowledge from the queries raised by other students in the class. These factors are driving the growth of the digital education market in this segment.
The digital education market is divided into two segments based on end user, namely individual learners & academic institutions; and enterprises & government organizations. The individual learners & academic institutions segment had a larger market share in 2021. However, the digital education market for the enterprises & government organizations segment is projected to grow at a higher rate during the forecast period. Enterprises are increasingly adopting digital education to provide their employees with job-related training and higher education courses such as master’s in business administration (MBA) and Python crash course due to the many advantages it offers. Demand from both segments is expected to drive the global digital education market growth during the forecast period.
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