The global U.S. Education Market accrued earnings worth approximately 1.1 (USD Trillion) in 2020 and is predicted to gain revenue of about 2.3 (USD Trillion) by 2028, is set to record a CAGR of nearly 4.5% over the period from 2021 to 2028. South America Online Education Market, By Technology Regions of Technical and Vocational Education market has been segmented into North America, Europe, Asia Pacific, Middle east & Africa and Latin America (along with it's respective countries) and provides the revenue information, current trends at the global, regional as well as country level. Available online from http://unesdoc.unesco.org/images/0022/002252/225258e.pdf, UNESCO points out that concerns have been also raised that enrolment rates can be overstated in education systems in order to meet goals or due to direct links to levels of financing and resources., Source: UNESCO report Measuring Exclusion From Primary Education (2005). Russia, China 6. And once again, we see the pattern that has already been discussed: early-industrialized countries pioneered the expansion of education in the 19th century, but this process became a global phenomenon after the second World War. However, the situation is steadily changing and has shown positive trends in some countries like India where the rural region had 227 million active internet users, 10% more than urban India as of November 2019 as per the Internet and Mobile Association of India. Where has all the education gone?. Hanushek, E. A. As we can see, the countries with the greatest returns to tertiary education (Brazil, Chile and Colombia) are also those where tertiary education is less prevalent among the adult population. Mergers, Acquisitions, Agreements, and Collaborations The causal effect of education on earnings. Calculations from Hanushek, E. A. and Woessmann, L. (2008).The full reference is: Hanushek E A and Woessmann L (2010), Education and Economic Growth. School Resources. Renub Research is a Market Research and Consulting Company. Global education promotes understanding of social justice and human rights and the contribution they make to peace building and conflict resolution. When citing this topic page, please also cite the underlying data sources. Figure-32: Technology Forecast for Rapid e-learning Market (Billion US$), 2022 2027 The global education market will continue to provide programs that are compatible with the needs of today's workforce and industries. The implication is that its not enough to focus on average outcomes to assess challenges in education quality. Figure-39: United States Online Education Market (Billion US$), 2016 2021 By type, the online education market has been segmented into academic, and corporate. Q3. Long standing infrastructure, relentless innovators and ever-feared competitors, technology giants face an uncertain regulatory landscape. The difference lies in the source of information regarding participation: enrollment figures come from official records, while attendance estimates comes from asking households directly. National Bureau of Economic Research, 2013. For 1998 it is estimated that 381 million children were out of school. 9.2. IBM. The visualization presents the relationship between PISA reading outcomes and average education spending per student, splitting the sample of countries by income levels. One of the main hurdles in the online education market is the limited accessibility by the poor people in rural areas owing to the low internet penetration and less smartphone adoption. Figure-58: Asia-Pacific Forecast for Online Education Market (Billion US$), 2022 2027 For better or worse, the industry has leaned into legacy data and practices to support ongoing relationships between schools and . In: Penelope Peterson, Eva Baker, Barry McGaw, (Editors), International Encyclopedia of Education. We will always indicate the original source of the data in our documentation, so you should always check the license of any such third-party data before use and redistribution. Education technology is becoming a global phenomenon, and as distribution and platforms scale internationally, the market is projected to grow at 11% per annum, to $341 billion by 2025. Middle East and Africa Online Education Market, By Vendor Adobe Inc. Lutz, Creso Cuaresma, and Sanderson (2008)27 conclude that better education does not only lead to higher individual income, but also is a necessary (although not always sufficient) precondition for long-term economic growth., The plot, from Hanushek and Woessmann (2010),28 provides a basic representation of the association between test scores and economic growth using data over the period 1960 to 2000. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. 9.2 Learning Management System (LMS) The report covers the market landscape and its growth prospects over the coming . Figure-37: North America Online Education Market (Billion US$), 2016 2021 11.9. Besides, the continued growth of online programs in countries like Canada and the United States, especially for education, seems to be on the horizon during the forecasted years. Others. 3. 9.3 Mobile e-learning We can also see that in the period 1960-2010, education inequality went down every year, for all age groups and in all world regions. A2. Figure-62: India Forecast for Online Education Market (Billion US$), 2022 2027 Virtual classroom 9.5.5.1. Executive Summary, 4.1 Growth Drivers The chart shows the earnings of tertiary-educated workers, by level of tertiary education, relative to the earnings of workers with upper secondary education. Figure-45: United Kingdom Online Education Market (Billion US$), 2016 2021 Regarding social returns, the most common approach is to measure the effect of education on pro-social behaviour (e.g. Similarly, after accounting for literacy proficiency, the percentage of individuals with tertiary education increases by 16 percentage points compared to someone who has upper secondary or post-secondary non-tertiary education.. You can read more about this source of data, including details on the estimation methodology, in our entry on Projections of Future Education. The global online education market is projected to grow at a CAGR of 10.91% during the forecast period. Figure-07: User Type Vocational Training Market (Billion US$), 2016 2021 The first conclusion from this charts is that for both genders, at any given age, individuals with more education receive higher wages. These emerging countries offer great opportunities in the online education market. Get a Sample Copy of the report: https://www.absolutereports.com/enquiry/request-sample/18810768, Market Analysis and Insights: Global Education Market. Less than half of students in Sub-Saharan Africa reach the minimum global threshold of proficiency; and very, very few students achieve advanced skills. Saudi Arabia The time-series chart shows inequality by age group. Blundell, Richard, et al. It is a helpful measure, because it allows aggregation of attainment across education levels. These figures, from The International Institute for Applied Systems Analysis (IIASA), suggest that we should see rates of education increasing as the world develops and by 2050, only five countries are likely to have a rate of no education above 20%: these are Burkina Faso, Ethiopia, Guinea, Mali and Niger. 7.1.2 Vocational Training Market Drivers The rise in mean years of schooling is consistently observed in both Barro Lee (2010) and Lee & Lee (2016). The size of this market is expected to increase to USD xx.x million by the year 2028, while growing at a Compounded Annual Growth Rate (CAGR) of x.x% Single User License $4200 Fast Moving Consumer Goods & Services Miscellaneous Educational Services Chile Research& Methodology By Country National Bureau of Economic Research. Vocational Training Provider - Global Online Education Market has been done 2 viewpoints: Technology - Global Online Education Market has been done 6 viewpoints: 1. You can read more about this in Delgado, Henderson and Parmeter (2014)31, Hanushek (2013)32 and Pritchett (2001).33. Global Education Apps Market is expected to reach US $ 106.74 Bn by 2027, at a CAGR of 23% during the forecast period. 6.4. [220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of the Global K12 Education Market size & share revenue was valued at . Market Segmentation Regions of Technical and Vocational Education Market. 9.6.5.4. Middle East and Africa It provides a complete analysis of changing market dynamics and opportunities, industry market trends in all business verticals, overall global as well as regional markets. Valero, A., & Van Reenen, J. Others Region - Global Online Education Market has been done 5 viewpoints: 1. Copyright 2022 MarketWatch, Inc. All rights reserved. Figure-51: Italy Online Education Market (Billion US$), 2016 2021 This is mainly the result of cross-country differences, since some nations started expanding education much later than other, and some are still lagging behind. Regional averages are population-weighted. This situation showed the strengths and weaknesses of education systems facing the challenge of digitalization. Indeed, these scatterplots show that despite the broad positive correlation, there is substantial dispersion away from the trend line in other words, there is substantial variation in outcomes that does not seem to be captured by differences in expenditure. The global market for education is $4.4 trillion, and poised to grow significantly over the next five years, according to an analysis by an international investment bank that advises companies on educational technology. Competitive Environment and Analysis This question is motivated by the notion that aggregate education (human capital) generates positive spill-over effects for everyone. For a discussion of evidence supporting this claim, see Hanushek, E. A., (2006). (2013). These estimates correspond to back projections: researchers used educational attainment estimates from the UN for the year 2000, and projected backwards from this single year. volume 2, pp. North America dominates the market and is expected to hold the largest share of the global online education market attributing to the presence of major market players. Figure-93: Alphabet Inc Global Revenue (Million US$), 2016 2021 Even in early-industrialized countries it was only in the 19th and 20th centuries that rates of literacy approached universality. It can be seen that as inequality is falling over time, the level of inequality is higher for older generations than it is for younger generations. The "Education Market" report offers a detailed analysis of the current market situation, as well as gives valuable information regarding the future outlook of the industry. Middle East and Africa Online Education Market, By End-User But correlation does not imply causation: there are many factors that simultaneously affect education spending and outcomes. Gaslighters have two signature moves: Are you being gaslighted at work? 9.5.5. The traditional way of teaching and learning is replaced by the smart education and learning approaches. 11.3. For instance, the OECD Education at a Glance report (1998), which presents estimates for the years 1990 and 1995, suggests discrepancies with the values reported by Tanzi & Schuktnecht (2000) for 1993. As usual, correlation does not imply causation but it does show an important pattern that supports the idea that education is indeed necessary to produce social capital. Visit a quote page and your recently viewed tickers will be displayed here. Regulation will tighten before easing as digital learning becomes mainstream, public-private partnerships gradually accepted and credentials will become more diverse. Figure-06: User Type Forecast for Higher Education Market (Billion US$), 2022 2027 EdTech Venture Capital reached 3x pre-pandemic investment levels in 2021, accelerating startups around the world with over $20B of funding. Copyright 2022 HolonIQ All Rights Reserved. Others The market is divided into the following segments based on geography: Americas APAC EMEA Technavio's report, Global Education Marketing Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. France Global literacy rates have been climbing over the course of the last two centuries, mainly though increasing rates of enrollment in primary education. 6.2 By Provider The most common way to measure the private returns to education, is to study how attainment improves individual labor market outcomes usually by attempting to measure the effect of education on wages. 2. And in almost every country, those with post-secondary non-tertiary education were more likely to trust others than those with primary or lower secondary education. Europe Online Education Market, By Vendor Figure-21: Provider Services Market (Billion US$), 2016 2021 6.4 By Region, 7. For example, Belgium and Canada have roughly similar average outcomes; but Canada has a higher share of students that achieve minimum proficiency, while Belgium has a larger share of students who achieve advanced proficiency. Online education will unfold the concept of connected learning. The research report also covers the Market Size, Price, Sales, Revenue, share, Gross Margin . The interactive map shows literacy rates around the world, using recent estimates published in the CIA Factbook. 8.2. As we can see, in all OECD countries for which information is available, the higher the level of education, the greater the relative earnings. Governments around the world are nowadays widely perceived to be responsible for ensuring the provision of accessible quality education. The OECDs report Education at a Glance (2015) provides similar descriptive evidence for other social outcomes. Market growth will be fueled by falling operational low-costs, simplified training processes, and flexible and convenient learning solutions. 6.5. Recently, in academics, the institutions like Higher Education, Vocational Training and K-12 Education worldwide have also adapted to online education, a dynamic education landscape generating immense interest among researchers, educators, administrators, policymakers, publishers, and businesses. It gives them more edge for academic institutions if they adopt digital education as one of their offerings. Others Executive Summary Asia Pacific Online Education Market, By Type The Education market report covers market segmentation by geography (North America, Europe, China, Japan, Middle East and Africa, South America, India, South Korea, Southeast Asia and Others). Available online here. 12.3.2 Recent Development A long line of IPO hopefuls are watching a cooler capital markets landscape. 11.2. The global online education market is segmented into various categories such as Application, Course Type, Provider, and Learning Type. The visualization, from the UNESCO report Measuring Exclusion From Primary Education (2005), shows the relationship between these two measures. Indonesia And the case of Colombia is representative of the pattern observed across many developing countries, where primary education enrollment rates grew particularly fast in the second half of the 20th century. Figure-42: Canada Forecast for Online Education Market (Billion US$), 2022 2027 Global Medical Education Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. Average, or mean years of schooling of a population, are typically calculated from data on (i) the distribution of the population by age group and highest level of education attained in a given year; and (ii) the official duration of each level of education. Others And regarding household inputs, the recent experimental evidence suggests that interventions that increase the benefits of attending school (e.g. Jesus Crespo Cuaresma, Samir K.C., and Petra Sauer (2013) Age-Specific Education Inequality, Education Mobility and Income Growth You can read more about this source of data and the underlying methodology in our entry on Education Projections. Under COVID-19 Outbreak, how the Education Industry will develop is also analyzed in detail in Chapter 1.8 of this report. What will be the online education market size by 2027? Figure-28: Technology Forecast for Learning Management System (LMS) Market (Billion US$), 2022 2027 The global ai in education market is segmented on the basis of type, application, and geography. The global online education market is projected to witness a CAGR of 9.23% during the forecast period to reach a total market size of US$319.167 billion in 2025, increasing from US$187.877 billion in 2019. The data produced by third parties and made available by Our World in Data is subject to the license terms from the original third-party authors. Learning Management System (LMS) 3. Market Dynamics Mexico United Nations Educational, Scientific and Cultural Organization. The chart plots trends in public expenditure on education as a share of GDP. Sustainable futures. Our articles and data visualizations rely on work from many different people and organizations. The most common method is to calculate the share of those people who could sign official documents (e.g. In fact, Latin America and Eastern Europe caught up with the group of advanced economies in the 1980s, and the gender gaps in these regions have already been closed almost completely (i.e. The increasingly long tails that we see in the distributions, are the result of cross-country inequalities in education expansion in the long run, we can see that there has been a considerable increase in the dispersion of the years of schooling. 9.5.5.2. The highest level of education that individuals complete is another common measure of educational attainment. Players in the e-learning space to adopt a hybrid channel approach. In addition, the end-users using the online education delivery models like Academic, Over the years, information and communication technologies have kept advancing. the report focuses on global, top 10 regions and top 50 countries market size of education 2016-2021, and development forecast 2022-2028 including industries, major players/suppliers worldwide and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and There are several international standardised tests that try to measure learning outcomes in a systematic way across countries; but these tests are relatively new, and they tend to cover only specific geographical areas and skills. Our entry on Literacy contains further in-depth information on the topic. Coursera UNESCO operationalizes the measurement of literacy as the ability to both read and write a short, simple statement about ones own life. 9.6.5.3. Secondary and tertiary education have also seen drastic growth, with global average years of schooling being much higher now than a hundred years ago. Figure-76: Argentina Forecast for Online Education Market (Billion US$), 2022 2027 6.6. Table-08: Global Forecast for Online Education Market Share by Region (Percent), 2022 2027. It can be deduced that in the next five years, the global education market will continue to evolve and additional programs will be developed for students to address future skill demands and market needs. Virtual Reality for Education Global Market size and growth prospects, 2015 - 2030 3.3. 7.2.2 SMBs, 8. The previous visualization showed the important progress that countries around the world have made regarding access to education, as measured by enrollment rates. And these results hold after controlling for literacy, gender, age and monthly earnings. Germany Figure-75: Argentina Online Education Market (Billion US$), 2016 2021 8. Table-06: Global Forecast for Online Education Market Share by Technology (Percent), 2022 2027 Industry Trends, Growth, Insight, Impact of COVID-19, Company Analysis, Forecast 2022-2027. Japan Smart Home Market is expected to reach US$ 12.3 Billion by 2026. What will drive the market size of online education market globally? Figure-80: Colombia Forecast for Online Education Market (Billion US$), 2022 2027 Business model evolving in line with shifting customer requirements. Education is a valuable investment, both individually and collectively. The preceding visualization shows that, despite the fact that literacy is today higher than ever, there are still important challenges in many developing countries. 9.2.5.1. Figure-52: Italy Forecast for Online Education Market (Billion US$), 2022 2027 10.2.2 Germany These include both historic estimates and projections. In May 2021, Indian online higher education platform upGrad acquired Impartus, a video-learning solutions provider, for? In this section we begin by providing an overview of education expenditure around the world, and then turn to the question of how expenditure contributes to the production of education. This chart plots GDP per capita (after adjusting for differences in prices across countries and time), against average student test scores (after homogenizing and pooling international and regional student assessments across education levels and subjects). To address this issue, the economics literature has developed different strategies. For instance, Bangladesh experienced an extremely high internet penetration rate from merely 100,000 in 2000 to 94,199,000 in 2020. As we can see, literacy rates grew constantly but rather slowly until the beginning of the twentieth century. This conceptualization highlights that, for any given level of expenditure, the output achieved will depend on the input mix. By Technology, we have covered the market for Online e-learning, Learning Management systems. We can see that in 1870, the distribution was concentrated at the left: most of the people had between 0 and 3 years of education. North America Online Education Market, By Vendor Figure-15: User Type Large Enterprises Market (Billion US$), 2016 2021 According to the study, The Global K12 Education Market was estimated at USD 107 Billion in 2021 and is anticipated to reach around USD 324 Billion by 2030, growing at a CAGR of roughly 20% . The rising internet penetration across the globe will drive the industry growth. Angela W. Browne & Hazel R. Barrett (1991) Female Education in SubSaharan Africa: the key to development?, Comparative Education, 27:3, 275-285, DOI: 10.1080/0305006910270303. Forecast, Number of Active & Penetration Households by Application, Products, Companies Analysis. Australia Smart Home Market will be US$ 4.61 Billion by 2027. South Korea 5. 9.6 Others, 10. Asia Pacific Online Education Market, By Technology A4. Figure-78: Chile Forecast for Online Education Market (Billion US$), 2022 2027 Improving Education Outcomes in Developing Countries: Evidence, Knowledge Gaps, and Policy Implications. Today, public resources still dominate funding for the primary, secondary and post-secondary non-tertiary education levels in these countries. Web3 offers the promise of decentralized access to education and learning, but the focus for now is utilizing blockchain technology to enable tamper-proof verification and ease of credential sharing. Figure-26: Technology Forecast for Online e-learning Market (Billion US$), 2022 2027 Research Methodology As we can see, countries where adults had a higher average education level in 1970, also have more democratic political regimes today (you can read more about political regimes in our entry on Democracy). As S&E capacity has increased globally, the U.S. position has changed despite increases in the absolute amount of S&E activity in the United States. Oracle 12.4.2 Recent Development As we can see, learning outcomes tend to be much higher in richer countries; but differences across countries are very large, even among countries with similar income per capita. Our World in Data is free and accessible for everyone. Global Online Education Market Analysis, by Technology As per Renub Research, the Global Online Education Market will reach US$ 585.48 Billion by 2027. 10.3.5 Singapore Furthermore, despite Cambodias internet penetration being only 40 percent,the government has allocatedabout 54 percent more for online learning (US$ 1.7 Million) as opposed to TV & Radio (US$ 1.1 Million). Education and learning analytics refers to the process of collecting, measuring, and analyzing data regarding . The economics literature has long studied whether the level of education in a country is a determinant of economic growth. 12.1.2 Recent Development Hence, online education. Figure-03: User Type Academic Market (Billion US$), 2016 2021 Here we analyse available evidence of the private (i.e. Market Share - Global Online Education Analysis, 6.1 By User Type We can see that there has been a continuous rightward shift in the successive distributions of schooling across time. 9.6.5.7. The government across the countries have introduced several schemes in favour of online education, especially after the COVID-19 crisis grappled the world. The rate of primary school enrollment is typically measured through administrative data, and is defined as the number of children enrolled in primary school who belong to the age group that officially corresponds to primary schooling, divided by the total population of the same age group. The rapid penetration of mobile phones and tablets, rising technological advancements, and the growing adoption of advanced technologies such as virtual classrooms in the education sector are the major factors driving the growth of the market. Description TABLE OF Contents METHODOLOGY DOWNLOAD PDF [251 Pages Report] The global digital education market is projected to grow at a CAGR of 32.3% during the forecast period to reach USD 46.7 billion by 2026 from an estimated USD 11.5 billion in 2021. A1. Further in-depth information on this topic, including definitions, data sources, historical trends and much more, can be found in our dedicated entry Financing Education. 9.6.5.6. The MarketWatch News Department was not involved in the creation of this content. Industry Trends. 9.2.5.2. The data used for this figure comes from the March Current Population Surveys in the US. The 2022 Outlook provides a detailed list of the top performing listed education companies and those which have performed the worst over the last year. Human capital in the long run. Others. The visualization shows estimates of primary education enrollment rates for a selection of 111 countries during the period 1870-2010. Figure 1 in Card, D. (1999). The most recent one is Lee and Lee (2016).35 These estimates rely on a variety of historical sources, and expand existing estimates from previous studies by using a significant number of new census observations. The interactive map shows recent primary school attendance estimates for a selection of (mainly) low and middle income countries in Africa, where the gaps between attendance and enrollment are largest. 4.2 Challenges A long-standing theory in political science stipulates that a countrys level of education attainment is a key determinant of the emergence and sustainability of democratic political institutions, both because it promotes political participation at the individual level, and because it fosters a collective sense of civic duty. individual) and social (i.e. Others Vendor landscape 3.4. The rate of attendance, on the other hand, is typically measured through household survey data, and is defined as the percentage of children in the age group that officially corresponds to primary schooling who are reported as attending primary school. 12.5.3 Revenue, Figure-01: Global Online Education Market (Billion US$), 2016 2021 Higher Education Market Size (2021-2026) The global higher education market size was at $77.41 billion in 2020 and is anticipated to reach $114.69 billion by 2026, with a compound annual growth rate (CAGR) of 9.3% over the course of the predicted period. E-Learning Market size surpassed USD 315 billion in 2021 and is projected to observe 20% CAGR from 2022 to 2028. Average OECD non-tertiary education expenditure by source of funding, Average learning outcomes vs GDP per capita, Child mortality vs. women's average years of schooling, Children in school: administrative vs household survey data, Cumulative drop-out rate to the last grade of lower secondary general education, Electoral democracy today vs. past average years of schooling, Existence of nationally representative learning assessment at the end of primary education, Gender ratios for average years of schooling, Girls of primary school age who are out-of-school, by world region, Gross enrollment ratio in primary education, Gross enrollment ratio in secondary education, Learning outcomes, minimum vs advanced achievement, Number of adults with no education by region, Official entrance age to compulsory education, Out-of-school children of primary school age by world region, Population breakdown by highest level of education achieved for those aged 15 years and older, Public education expenditure as share of GDP, Share of population, 15 years and older, with no education, Share of students achieving advanced learning outcomes, Share of students achieving intermediate learning outcomes, Share of students achieving minimum learning outcomes, Share of the population with a completed post-secondary education, Share of the population with at least some secondary education, Share of the population with no formal education, projections by IIASA, Share of the population with secondary education, but no tertiary education, Share of the world population older than 15 years with at least basic education, The share of children in primary school age who are in school, Total government expenditure on education, The link between expenditure and outcomes, younger generations are progressively better educated than older generations, discussion of global expansion in education expenditure, Measuring Exclusion From Primary Education (2005), Global Data Set on Education Quality (19652015), The Investment Case for Education and Equity (UNICEF 2015), Available evidence specifically on the importance of school inputs, pre-school investment in demand-side inputs leads to large positive impacts on education, Records of the General Conference, tenth session, Paris, 1958: Resolutions, http://unesdoc.unesco.org/images/0022/002252/225258e.pdf, http://www.foreurope.eu/fileadmin/documents/pdf/Workingpapers/WWWforEurope_WPS_no006_MS15.pdf. The Global Education Apps Market share is set to increase by USD 124782.56 million from 2022 to 2027. Figure-22: Provider Forecast for Services Market (Billion US$), 2022 2027 A5. Therefore, it will be experiencing a CAGR of 18.1% during this period. 2. Here we show evidence of this process of education expansion using cross-country estimates of average years of schooling. The global higher education technology market research report highlights leading regions across the world to offer a better understanding of the user. It shows that policies matter and learning outcomes can, and often do improve. 12.5.2 Recent Development Figure-34: Technology Forecast for Virtual classroom Market (Billion US$), 2022 2027 9.6.5.5. Online education is an electronically upheld learning framework, which depends on the internet for cooperation and appropriation of study material among understudies and instructors. By technology, the market is categorized into mobile e-learning, learning management systems, application simulation tools, rapid e-learning, podcasts, and virtual classroom. Malawi is a notable case in point tertiary education is almost completely subsidised by the state, yet household contribute with almost 20% of the costs in primary education. 9.3.3. Introduction Q4. Hence, online education has become more feasible technologically, economically, and operationally. 5. Figure-82: Rest of South America Forecast for Online Education Market (Billion US$), 2022 2027 Furthermore, the report provides insights into the latest industry and market trends and analyzes technologies deployed at a rapid pace at the global level. By Technology, we have covered the market for Online e-learning, Learning Management systems (LMS), Mobile e-learning, Rapid e-learning and Virtual classroom. 7.1.4 Others, 7.2.1 Large Enterprises Card, D. (1999). 7.1. 6.3 By Technology Thus, further reductions in education inequality are still to be expected within developing countries; and if the expansion of global education can be continued, we can speed up this important process of global convergence. Global Smart Learning Device Market: Analysis By Sub Category (Educational Tablets, Educational Smart Watches, Translation Tools, Smart Education Robotics and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027 Nov 11, 2022 | Published by: Daedal Research | USD 2,250 Even at this level, digital spend will only represent 5.5% of the total market. 9.6. Sustaining Literacy in Africa: Developing a Literate Environment. The visualization, from Card (1999)20, attempts to pin down the relationship between education and earnings, by comparing wages across education levels, genders and age groups. Although the rapidly spreading coronavirus harshly affected all businesses, the online education system surprisingly showed lucrative growth opportunities amid the threatening pandemic. At what growth rate will the market be projected to grow by the forecast 2028? The graph, from Lee and Lee (2016)7, plots the distribution of the number of years of schooling across the entire adult population, for selected years. The online education market is evaluated at US$220.837 billion for the year 2020 and is projected to grow at a CAGR of 10.91% to reach US$455.990 billion in 2027. It was only until the Middle Ages that book production started growing and literacy among the general population slowly started becoming important in the Western World.3. Over the years, the ubiquity of information technology has been influencing almost all aspects of human lives: the way we work, communicate with others, process data into information, analyse and share information, entertain ourselves, and enjoy tourism. Recent Development Below we provide more detailed evidence of how education inequality has been going down since 1950. The visualizations and research discussed hereare also discussed in other, more specific data entries. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Market Definition (2016). Global Educatio Share Price, Global Educatio Stock Price, Global Education Ltd. Stock/Share prices, Global Education Ltd. Live BSE/NSE, F&O Quote of Global Education Ltd. with Historic price . Post COVID, we expect to see significant growth in early childhood and workforce segments, deflation in higher education and K12 growth driven by emerging markets. 2. 9.2.5. Vendor Competitiveness Matrix The significant drivers for online education in Asia-Pacific include phenomenal growth in Internet and smartphone penetration; digital-friendly government policies; and escalating demand by working professionals and job-seekers for continuing education Further, the development of online education enrolments in the North American region has increased year on year irrespective of an expanding or shrinking economy and rising or declining overall college enrolments. Global Online Education Market Analysis, by Type Online at the authors site here. The global higher education market is expected to exhibit a CAGR of 20.37% during 2022-2027. 8.3. In addition, we are seeing the rise of entire trade associations dedicated to . Instructure Inc., provides a detailed analysis of Online Education Industry. Moreover, these estimates suggest that the incremental benefit from additional education grows with experience: the differences in wages between people with varying degrees of education become larger as they advance in their careers. 9.3.4. 11.6 Threat of Substitutes, 12.1.1 Overview Byju's Further details on regional classifications are available in the source paper. You can read more about the expansion of education systems around the world in our entry on Financing Education. Table-05: Global Online Education Market Share by Technology (Percent), 2016 2021 For earlier periods, historians have to reconstruct data from other sources. 3. This Global Online Higher Education market report brings data for the estimated year 2020 and forecasted till 2026 in terms of both, value (US$ MN) and volume (MT). The market is anticipated to register a CAGR of 30.5% from 2021 . Increasing penetration of internet in many regions across the globe is a major factor driving the market growth. Detailed analysis about market status (2015-2020), enterprise competition pattern, advantages and disadvantages of enterprise products, industry development trends (2020-2025), regional industrial layout characteristics and macroeconomic policies, industrial policy has also been included. Adobe Figure-83: Middle East & Africa Online Education Market (Billion US$), 2016 2021 Emerging Players and Market Lucrativeness Thesame data is also then published by the World Bank (World Bank EdStats and World Development Indicators) and Gapminder. Figure-64: Japan Forecast for Online Education Market (Billion US$), 2022 2027 Im a successful single mother who reconnected with my college sweetheart. At a cross-sectional level, expenditure on education correlates positively with both quantity and quality measures; and not surprisingly, the quality and quantity measures also correlate positively with each-other. The global education technology market size was valued at USD 106.46 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030. The global K-12. Handbook of the Economics of Education, 2. 9.5.2. The OECD provides country-specific figures. As we can see, low attendance rates are an important problem in sub-Saharan Africa more so than enrollment figures suggest. Revenue, 1. Research Data Declining facilitating costs and the developing requirement for educational content is further propelling the growth of the market. collective) returns to education. What will be the market value in the future? Pearson Figure-65: South Korea Online Education Market (Billion US$), 2016 2021 Oxford: Elsevier. You can check country by country trends over time in this line chart. E-learning or online education is transforming the way we approach teaching and learning. Oops! The breakdown by age gives us a view into the future: as the inequality is lower among todays younger generations, we can expect the decline of inequality to continue in the future. Roughly speaking, you can think of this graph as a smooth histogram: if all people in the world were ranked by years of education, this chart would approximately tell us, for any number of years in the horizontal axis, the proportion of the world population that achieved those years.8. Data on expenditure corresponds to 2010 total government education expenditure across all levels, as a share of GDP (source: World Bank Education Statistics). Academic This can be seen across all quantity measures. These companies deliberately focus on developing innovative learning & education solutions that help gain a competitive position in the global market. E-learning or online education is transforming the way we approach teaching and learning. 9.4.5. 3. As we can see, there is a strong positive relationship. 4.3.2. Show More Executives China 10.4.2 Argentina Threat of New Entrants Virtual Classroom Here we go further and explore changes across the entire global distribution of years of schooling. 10.4.5 Rest of South America, 11.1 Overview This reflects the fact that many children who are officially enrolled, do not regularly attend school. 3.1. And the rate of growth really climbed after the middle of the 20th century, when the expansion of basic education became a global priority. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. Demography, education, and democracy: Global trends and the case of Iran. The visualization shows the percentage of total education expenditures contributed directly by households in 15 high income countries and 15 low/middle income countries (most recent data available on 2014). 9.3.5.3. Region - Global Online Education Market, 10.1.1 United States Figure-19: User Type Government Market (Billion US$), 2016 2021 You find more research, data visualisations, and detailed lists of data sources in the more specific entries: See the Wikipedia entry on compulsory education for a table of the ages of compulsory schooling around the world. According to Holon Q, the global education market size is expected to reach $10 trillion by 2030 and is growing at a compound annual growth rate (CAGR) of 4.5% each year. While the earliest forms of written communication date back to about 3,500-3,000 BCE, literacy remained for centuries a very restricted technology closely associated with the exercise of power. 11. Figure-61: India Online Education Market (Billion US$), 2016 2021 Global " Education Market " 2022 research report covers market size, share, emerging trends, and the key players of the industry including company profile, product specifications, production. In the previous interactive visualisation we showed how the average number of years spent in school has been going up constantly across the world. $48.7 Billion. The estimates discussed in this section come from The International Institute for Applied Systems Analysis (IIASA). The Global Smart Education Market was valued at USD 372.05 Billion in the year 2019. Lutz, W., Crespo Cuaresma, J., & AbbasiShavazi, M. J. Figure-23: Provider Content Market (Billion US$), 2016 2021 Figure-60: China Forecast for Online Education Market (Billion US$), 2022 2027 While in the last decade the share of public funding for these levels of education has decreased slightly, the broad pattern is remarkably stable. Middle East and Africa Online Education Market, By Technology Bargaining Power of Buyers Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. A report from Grand View Research said that the global digital education market size is expected to reach USD 77.23 billion by 2028. 4.1. Table-07: Global Online Education Market Share by Region (Percent), 2016 2021 One possible approach to learn from all these overlapping but disparate international and regional tests, is to put them on a consistent scale, and then pool them together across skills to maximize coverage across years and countries. The presence of free content is driving the end-users towards the adoption of online learning and ed-tech companies look at this as another opportunity to exploit. The marks show averages for each corresponding group, and the smooth lines show the predictions made by a simple econometric model explaining wages by education and experience. Figure-86: Coursera Forecast for Global Revenue (Billion US$), 2022 2027 10.4.4 Colombia Taiwan I make $80,000 and have $220,000 in student debt. Global Online Education Market Analysis, by End-User As usual, you can add countries, or switch to the map view, by selecting the corresponding options at the top of the chart. 6. w22501). The other main source on this topic are the estimates from the International Institute for Applied Systems Analysis (IIASA) and the Vienna Institute of Demography (VID). Figure-02: Global Forecast for Online Education Market (Billion US$), 2022 2027 Geographically, the regional consumption and value analysis by types, applications, and countries are included in the report. The online education market is evaluated at US$220.837 billion for the year 2020 and is projected to grow at a CAGR of 10.91% to reach US$455.990 billion in 2027. Handbook of labor economics, 3, 1801-1863. Here we focus on enrollment and attendance rates specifically at the primary level. All Rights Reserved, Type, Technology, Vendor, End-User, And Geography, North America, South America, Europe, Middle East and Africa, Asia Pacific. 9.3.5.1. United States e-learning Market Size was US$ 59.52 Billion in 2021. As pointed out, those figures were difficult to interpret causally, because they failed to account for important underlying differences in things like hours worked, experience profiles, etc. For 1998 it is estimated that 381 million children were out of school. B. PM eVidya, a unique and innovative venture by the Ministry of Education, Government of India was introduced in May 2020 to facilitate multi-mode access to online education contents of various types among students and teachers. As per Maximize Market research, a global business research and consultancy firm, the total global market for Education Apps Market dynamics, structure by analyzing the market segments and projects the Market size. The expanding telecom & broadband sector has increased the accessibility to economical internet connectivity plans. To the extent that the authors do not specify which sources were prioritised for each year/country, it is not possible for us to reliably extend the time series with newer data. The visualization presents OECD-average expenditure on education institutions by source of funds.13. The report scope of Education market provides crucial insights into the important segments and sub-segments along with in-depth analysis on the key individual factors influencing its growth rate. Join 80,000+ free weekly newsletter subscribers. Other studies using different data have found similar results (see, for instance, Blundell et al. This reflects the fact that there has been a continuous increase in average years of schooling worldwide: as the share of the uneducated population fell over time, the concentration at the lower level became less pronounced. Now we turn to quality measures of education. Hence, online education has become more feasible technologically, economically, and operationally. Meanwhile, the world is looking for mechanisms to scale education, without creating monolithic entities which often struggle to meet hyperlocal contexts. The growing internet penetration even in the emerging economies and flexibility of availing educational information at any place and any time is further pointing to the growth of the market. Asia-Pacific and North America have the promising Online Education Market: We have segmented the Global Online Education Industry based on North America, Europe, Asia-Pacific's, South America and Middle East & Africa. Figure-41: Canada Online Education Market (Billion US$), 2016 2021 Global "Education Technology And Smart Classroom Market " 2022 Reports give a Key study on the industry status of the Education Technology And Smart Classroom Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. Virtual Reality for Education Global Market Value Chain Analysis 3.3.1. 9.4. The current market is quantitatively analyzed from 2020 to 2027 to highlight the global medical education market growth scenario. Figure-90: Byju's Forecast for Global Revenue (Million US$), 2022 2027 11.5. Global AI in Education Market Online e-learning 2. In Niger, Chad and Liberia, estimates suggest that less than half of the school-aged children attend primary school. Figure-85: Coursera Global Revenue (Billion US$), 2016 2021 In Burkina Faso, Niger and South Sudan the African countries at the bottom of the rank literacy rates are still below 30%. 9.4.5.1. Figure-73: Brazil Online Education Market (Billion US$), 2016 2021 Q5. In fact, while the ambition of universal literacy in Europe was a fundamental reform born from the Enlightment, it took centuries for it to happen. In this entry we begin by providing an overview of long run changes in education outcomes and outputs across the world, focusing both on quantity and quality measures of education attainment; and then provide an analysis of available evidence on the determinants and consequences of education. 8.1. There are two important sources of long-run cross-country data on education attainment. United States Worldwide Online Education Industry is expected to grow with a. Gamification concepts to enhance user engagement. 2.2. The visualization shows the recent evolution of inequality in educational attainment, through a series of graphs plotting changes in the Gini coefficient of the distribution of years of schooling across different world regions. India You can compare achievement above minimum, intermediate, and advanced benchmarks, country by country and over time, in these three line charts: The most common way to gauge differences in the way countries produce education, is to analyze data on expenditure. Call us onUSA: +1-678-302-0700 INDIA: +91-120-421-9822. Their global reach affords significant influence, but as trust declines with mega-brands and as new players enter the fray, giants are having to rethink their strategies. School enrollment and attendance are two important measures of educational attainment. Which are the key companies operating in the e-learning landscape? 4.3 Opportunities, 6. Rapid E-learning Bargaining Power of Suppliers Figure-67: Singapore Online Education Market (Billion US$), 2016 2021 10. New models, new capital and new players will enter the education market and the post- secondary landscape will gradually re-shape. The US and the EU hold a combined 70% share of the global e-learning market. Moreover, emphasis on inorganic growth strategies such as strategic collaborations and mergers & acquisition activities with technology partners is further expected to expand their solutions and enable them to remain competitive in the online education market worldwide. 6.7. North America Online Education Market, By End-User The comprehensive research study delivers information on current figures, projections, market shares and forecasts for years 2022-2029. Figure-70: Australia Forecast for Online Education Market (Billion US$), 2022 2027 11.6. 245-252. An important body of literature stipulates that womens education leads to lower child mortality because it contributes towards healthier habits and choices, including child spacing (see Brown and Barrett 1991 for a more detailed conceptualization of the mechanisms).25. It is the result of increased appreciation of the benefits of education to the individual and society, as well as and increased government provision. NEW YORK, Dec. 9, 2022 /PRNewswire/ -- The global K-12 blended e-learning market has been categorized as a part of the global education services market. The main source of data on international education expenditure is UNESCOs Institute for Statistics (UIS). Forecast By Application, Products, Active Household Numbers, Penetration rate, Company Analysis. Russia Online Education Market will be USD 2.01 Billion by 2026. Policy experiments have also shown that pre-school investment in demand-side inputs leads to large positive impacts on education and other important outcomes later in life. The experience of some countries, such as South Korea, shows how remarkably quickly educational attainment can increase. Literacy is a key skill and a key measure of a populations education. HolonIQs global market data and analysis through the year powers our Annual Outlook for education, and is available exclusively for HolonIQ customers. The global higher education market size is predicted to reach over USD 63 billion by 2028. Figure-77: Chile Online Education Market (Billion US$), 2016 2021 Which are the major countries covered in the report? 10.3.3 Japan Online at the authors site here. Developing interest to decrease the expense of instruction, expanding government drives supporting online schooling, and expanding infiltration of cell phones and the internet are the variables adding to the growth of the online education market. Figure-57: Asia-Pacific Online Education Market (Billion US$), 2016 2021 To emphasize the points above, here we see a map which shows the evolution of mean years of schooling across the globe, using a related, but different source. Europe Online Education Market, By End-User Worldwide Online Education Industry is expected to grow with a double-digit CAGR of 13.8% during 2021 -2027. 9.6.5.8. Industry Value Chain Analysis The countries in this chart are ordered in ascending order of relative earnings. Available online here. The environment that children are exposed to early in life, plays a crucial role in shaping their abilities, behavior and talents. 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