REMOTE LEARNING MARKET OUTLOOK
The global remote learning market size was estimated at USD 88.33 billion in 2020 and is projected to reach USD 180.19 billion by 2026, growing at a Compound Annual Growth Rate (CAGR) of 12.62% during the forecast period.
The rising adoption of digitalization is surging the growth of the remote learning market across the globe. The rapid increase in internet connectivity in emerging economies, driven by the rising federal budgets, is likely to impact e-learning market growth positively. For instance, vendors like Coursera and Byju’s can offer more customized distance learning courses than other vendors. Their student enrollment is very high compared to other vendors.
Distance education has seen a decent increase in the number of enrolments. The vendors providing distance education have a wide variety of courses to offer and allow the students to have a big pool of options. Vendors like Coursera offer more than 3000 courses that are asynchronous and could be accessed from any place at any time. The players providing such courses have partnered with premium institutes such as Harvard, University of Wisconsin, Aston University, and so on, giving good credibility to the course that the vendor is trying to offer to the students. Hence, the adoption of remote learning is booming the growth of the market.
- In North America, the app-based mode contributes a significant revenue share. The remote learning market in North America is expected to reach USD 65.48 billion by 2026.
- South Korea is among the leading countries globally in terms of new enrolments and the renewal of remote learning solutions.
- The global instructor-based segment will grow at a CAGR of 12.95% during the forecast period.
- The fragmented market is compelling vendors to indulge in innovative teaching and learning methods. The online industry will witness an increased demand for customized e-learning modules.
KEY OPPORTUNITIES IN THE MARKET
- Rise in Online Microlearning: Vendors such as Byju’s offer microlearning lessons, and it only focuses on the K-12 segment and has very high enrollment for students.
- Growing Emphasis on Non-Conventional Education: Emphasis on non-conventional teaching techniques to make it easier for the teachers to deliver the content and engage the student, thereby surging the demand for this product in the online education market.
- Increase in Customized Courses: End-users are more comfortable learning courses customized for them as they can access them anytime and anywhere.
REMOTE LEARNING MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Learning Mode
- Learning Type
MARKET SHARE & SEGMENTS
Self-paced learning helps in improving knowledge retention and memory. The self-paced segment is expected to witness an incremental revenue of USD 32.61 billion from 2020 to 2026. Self-paced remote learning offers flexibility in learning. Self-paced learning can be categorized into fully asynchronous and semi-asynchronous. This concept enables one to embed virtual meetings and integrate on Adobe Connect, Zoom, GoToWebinar, GoToTraining, and Webex for scheduling live events. Self-placed learning creating high opportunities for the players in the e-learning market.
In 2020, the K-12 segment accounted for 48.65% in the global remote learning market share. Remote learning, which was earlier trending in higher education, is gaining traction in K-12 students. Following the success of remote learning in the US, remote learning is gaining popularity in Europe and APAC region. The various start-ups are igniting the growth of the remote learning K-12 education marketplace across the globe.
The increasing adoption of smart devices is fueling the demand for app-based remote learning. App-based remote learning is a lifesaver as they allow kids to utilize their time effectively. These are some vendors like Lynda, Coursera, upGrad, and Byju's who allow choosing specific subjects on their mobile applications as per the students' interest. Enabling the students to select subjects of their own the vendors make sure that app-based remote learning is efficient for all the users. The global app-based virtual learning market to grow at a CAGR of 12.61% during the forecast period.
In 2020, North America contributed the largest remote learning market share. The US and Canada are the region's primary revenue drivers and are expected to grow during the forecast period. The K-12 sub-segment in the end-user segment contributes the largest share in the e-learning market across North America. The most populated region in the country is Central Canada. Recently the ministry has been involved actively in playing its role in K-12 distance education. On the contrary, remote education in Quebec is driven by initiatives from the Ministry of Education in the North American region.
The online learning market vendors are witnessing several mergers and acquisitions over the several years. Several companies, which started focusing on one or two segments such as K12 or secondary education, strengthen their offerings and portfolios by acquiring smaller start-ups active in the distance learning market, on-campus post-secondary education, and corporate or public sector workforce skill training. Vendors must keep a continuous track of the pricing of new entrants. For instance, Blackboard announces its partnership with the Education Development Institute to offer professional learning services for more than 1,300 Pre-K-12 educators at 13 schools in Qatar and all over the Middle East region.
The remote learning market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- North America
- South Korea
- Latin America
- Middle East & Africa