Online Education Market: Overview
The online education market may usher in the golden era of growth across the forecast period of 2019-2028 owing to the dynamically changing equations of the mode of education due to the COVID-19 outbreak. The horrendous pandemic brought the world to a standstill and is creating havoc around the globe. All businesses and educational institutions are closed to flatten the curve of the new coronavirus transmission. Even if business organizations and manufacturing units are opening up, educational institutes may not open for a while as children are more vulnerable to the deadly coronavirus.
Online education has emerged as a knight in shining armor in these unprecedented times. Educational institutions across the world are shifting toward online learning to avoid breaking the chain of education while breaking the chain of the transmission. Teachers are instructed to conduct online classes for all students. According to the World Health Organization, over 1.2 billion children are out of the classroom. These numbers highlight the potential of growth for the online education market across the forecast period.
Universities are also embracing online education to conduct lectures for students enrolled in various courses. This factor can add extra stars to the growth of the online education market. As the lockdown measures urge everyone to stay home, many individuals have used this as an opportunity for inculcating new skills that can prove to be a helping hand for career prospects. Thus, this aspect can boost the growth of the online education market.
This upcoming report on the online education market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the market. The segmental study enables an individual to thoroughly understand the different aspects of the online education market systematically.
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Online Education Market: Competitive Analysis and Notable Developments
Various players in the online education market are trying to bridge the gap between the student and teachers with extraordinary technologies like virtual reality and augmented reality (AR). Tie-ups with governments of various countries and states to provide online education for a large student population are also finding their feet for the exceptional growth of the online education market. New players are entering the fray with low-cost e-learning modules that impart high-quality education to compete with the established players.
- Vu2Vu India, a collaboration between Vu2Vu Ireland and LAMHAS Satellite, recently launched Vu2Learn, a Learning Management System (LMS) for imparting online learning in India
- India’s Finance Minister Nirmala Sitharaman recently announced the PM e-Vidya program for promoting online education. Among several initiatives, 12 Swayam Prabha DTH channels will be added to facilitate e-learning for students living in remote areas who lack internet access. She also announced the start of online courses by top 100 universities including IITs and IIMs.
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Online Education Market: Key Trends
The online education market has generated interest across various countries to learn from home. Government support for the online education market is proving to be a blessing in disguise to expand its footprint across the world. In addition, job-oriented professional online education programs may assist the online education market reach the peak of growth during the forecast period.
Online Education Market: Regional Outlook
The online education market is experiencing an upward trend across all regions. Developing economies, which contributed just a fraction of growth to the online education market, may prove to be key contributors. Various initiatives taken by the governments to promote e-learning may prove to be a beneficial factor for the growth of the online education 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.