MOOC Market: Summary
The COVID-19 pandemic has changed the dynamics of numerous sectors to a large extent. The novel coronavirus outbreak has prompted an unprecedented shift to online teaching at various institutions around the globe. Thus, taking into consideration the various growth factors, the global MOOC (Massive Open Online Courses) market is expected to display expansive growth across the forecast period of 2020-2030.
Massive open online courses are distant learning courses that can be accessed over the web by a large populace. These courses also provide a certificate of completion at minimal prices after the course is complete.
The global MOOC market report provides a systematic study to the stakeholder on numerous parameters of growth such as competitive scenario, regional assessment, and notable trends. The researchers have closely studied and monitored the COVID-19 impact on the MOOC market and have been inculcated in the report. Furthermore, the report also highlights the pain points so that the stakeholder can design the business strategy accordingly.
For Right Perspective & Competitive Insights on MOOC Market, Request for a Sample
MOOC ((Massive Open Online Course) Market: Competitive Scenario
The MOOC market comprises numerous players that invite considerable competition. The players in the MOOC market are trying to upgrade their services and features to facilitate a seamless experience for the end-user. The government support for the efficient functioning of MOOCs through expanding broadband connectivity across remote and rural regions is also bringing considerable growth opportunities for the MOOC market to magnify its consumer base.
Collaborations and partnerships with renowned organizations are important for the players in the MOOC market to imply quality training and teaching. For instance, IBM and National Skill Development Corporation have joined hands to provide training on emerging technologies such as Blockchain, Artificial Intelligence (AI), and machine learning. Such developments bring extensive growth opportunities.
MOOC Market: Well-Established Participants
- Khan Academy
MOOC Market: Recent Investments
Novel investments are seeping in the MOOC market due to the growing influence of online learning across the globe. Coursera enrolments have recorded a rise of a staggering 640 percent from mid-March to mid-April in 2020 as compared to the same period in 2019. The SARS-CoV-2 outbreak has led a considerable populace to stay-at-home and online courses are gaining substantial traction. This has resulted in generating interest among a plethora of investors. Here are some important developments regarding investments.
- DST Global is in talks with Byju, an Indian online education startup in regards to an investment of $400 mn
- Coursera raised an additional $130 mn investment due to the boost in massive open online courses during the pandemic
- Arkademi recently obtained an undisclosed investment from SOSV, a U.S. based VC firm to revamp its operations
These investments signal the expanding clout of the MOOC market and the potential to generate great growth.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
MOOC Market: Offerings and Features Attracting Tremendous Growth
The players in the MOOC market are offering novel features and forging collaborations with renowned organizations for attracting sales and improving the subscriber count. This factor is eventually inviting growth for the MOOC market.
- Udacity announced free technology courses for a limited time in MOOC format
- Coursera is offering free certificates for 115 courses
- EdX has started MOOC-based degree programs by collaborating with varied renowned universities
MOOC Market: Geographical Assessment
North America may serve as the largest growth contributor during the forecast period of 2020-2030 due to the large-scale presence of a plethora of prominent solution vendors such as Coursera and Skillshare. The influence of the pandemic is also bringing extensive growth opportunities in the region.
Asia Pacific may also evolve as an enormous growth generating-region for the MOOC market. Skillshare recently announced that it had seen 300 percent month-on-month growth in users across India from February to April. The growth accrued due to the popularity of short-term courses in a densely populated country like India may provide good growth opportunities. In addition, the recent changes in education policies may also incur great growth opportunities for the MOOC market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.