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Digital Education Market Trends, Size, Top Key Players, Industry Analysis, Advance Technology, Future Development & Forecast – 2028

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Digital Education Market Trends, Size, Top Key Players, Industry Analysis, Advance Technology, Future Development & Forecast – 2028

June 06
19:25 2024
Digital Education Market Trends, Size, Top Key Players, Industry Analysis, Advance Technology, Future Development & Forecast - 2028
Coursera (US), edX (US), Pluralsight (US), Udemy (US), Udacity (US), Edureka (India), Alison (Ireland), LinkedIn Learning (US), Jigsaw Academy (India), Iversity (Germany), Miriadax (Spain), Intellipaat (India), FutureLearn (UK), Edmodo (US), SWAYAM (India), Novoed (US).
Digital Education Market by Type (Self-paced Online Education and Instructor-led Online Education), Course Type, End User (Academic Institutions and Enterprises & Public Sector) and Region – Global Forecast to 2028.

The global Digital Education Market size to grow from USD 19.4 billion in 2023 to USD 66.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 28.0% during the forecast period. Increased internet penetration; reduced infrastructure cost and increased scalability using online learning; increased efficiency, greater convenience, and more flexibility; and rising demand for microlearning are key factors for the growth of the Digital Education market.

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By End Users, government and public sector segment to record significant growth during the forecast period

Enterprises are majorly adopting digital education as a part of their employee engagement and development programs. These companies implement digital education platforms for various purposes, such as training and development, professional certification, and professional courses, to develop their employee’s strategic thinking abilities and improve the company’s production and brand value. Digital education courses act as a cost-effective learning platform to enhance employees’ skills and enable organizations to track their employees’ progress. An organization can opt for tailor-made courses which accomplish the company’s objectives. Digital education also provides the necessary flexibility to train employees without compromising productivity. Online learning approaches, such as microlearning and nanodegrees, provide employees with the skills needed without consuming much of their time.

By Type, the Self-paced Online Education segment to exhibit significant growth during the forecast period

Between the Type, the Self-paced Online Education segment courses do not follow a set schedule. Hence, all the learning resources are readily available, allowing end users to absorb and retain information faster than in a classroom setting. Self-paced online courses do not require instructors and students to be available simultaneously during the entire course. Instructors can record videos or provide content that students can learn without the instructor’s involvement. Unlike self-paced digital education courses, instructor-led digital education courses follow a particular set of schedules with a specified time for the availability of learning resources. More and more educational institutes and companies are using self-paced online education to provide their students and employees with constant access to information. This also provides learners with complete control of their progress.

By region, North America to account for the highest market share during the forecast period

North America has an advanced communication infrastructure that helps digital education solution providers offer quality services to their clients. The need to upskill employees and students has prompted universities and educational organizations in the region to deploy digital education platforms and services. In the education sector, owing to the advanced technologies offered by several key vendors present in the region, students are more digitally connected and aware of eLearning and interactive course content. Even teachers and parents are sensing the need to shift from traditional teaching methodologies to modern and advanced teaching methods to improve the learning experience and educational technology. The region is also one of the earliest adopters of 5G technology, which has helped the early adoption of digital education solutions. Countries such as US and Canada are expected to be key revenue contributors in the North American digital education market. North America is home to most crucial market vendors, such as Coursera, edX, Udacity, and Udemy, in the digital education market.

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Unique Features in the Digital Education Market

Artificial intelligence and machine learning can be used by digital platforms to customize learning. To curate content, propose resources, and offer the best learning paths, this entails examining a student’s strengths, limitations, and learning pace. It enables students to move forward at their own speed and concentrate on areas that require development.

Bite-sized learning modules are popular in digital education because they are ideal for hectic schedules and maximize knowledge retention. Convenient and entertaining learning is made possible for students by the availability of brief, targeted lessons in a variety of formats, such as videos, infographics, and interactive tests.

This enhances individualized learning by dynamically changing the course’s content and level of difficulty in response to each student’s performance. In the event that a student encounters difficulties understanding a concept, the platform may offer more practice questions or different explanations.

Virtual reality (VR) and augmented reality (AR) are being used in digital education to develop engaging learning environments. Imagine using AR to dissect a virtual frog or VR to explore historical locations. Through the creation of a more interactive learning environment, these technologies improve student engagement and retention of information.

To make learning more entertaining and engaging, digital learning platforms are progressively introducing game aspects like points, medals, and leaderboards. As students move through the course material, this method gives them a sense of accomplishment and appeals to learners who thrive on competition.

Major Highlights of the Digital Education Market

This rise is attributed to several sources. The increased global adoption of smartphones and the internet has made online learning more accessible than ever.  Furthermore, the need for adaptable and effective learning solutions is fueled by the growing demand for reskilling and upskilling in a labor market that is changing quickly.

Different parameters such as learning style (self-paced vs. instructor-led), course type (STEM, Business Management, etc.), and end-user (individuals, academic institutions, and organizations) are used to segment the market.

Digital education is changing as a result of developments in machine learning and artificial intelligence (AI). Personalized learning, adaptive learning, and automatic feedback mechanisms are made possible by these technologies, which improve the quality of the learning process.

The rise of microlearning is another key highlight. Learners are increasingly opting for bite-sized, focused learning modules that fit into their busy schedules and promote better knowledge retention.

The Asia Pacific region is expected to witness the most significant growth due to a large population base, increasing internet penetration, and a growing emphasis on skill development .

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Top Companies in the Digital Education Market

The key and emerging market players in the Digital Education market include Coursera (US), edX (US), Pluralsight (US), Udemy (US), Udacity (US), Edureka (India), Alison (Ireland), LinkedIn Learning (US), Jigsaw Academy (India), iversity (Germany), Miriadax (Spain), Intellipaat (India), Edmodo (UK), NovoEd (US), XuetangX (China), Linkstreet Learning (India), Khan Academy (US), Kadenze (US), Federica Web Learning (Italy). My Mooc (France), Treehouse (US), Skillshare (US), CreativeLive (US), CXL (US), GO1 (Australia), BYJU’S (India), DataCamp (US), Platzi (US), and Thinkful (US). These players have adopted various strategies to grow in the Digital Education market.

Coursera is a Massive Open Online Course (MOOC) provider that offers digital education solutions for businesses, universities, governments, and individuals. The company offers Certificates, MasterTrack Certificates, and Degrees to individual students and offers custom solutions for organizations. The company delivers courses to millions of users through recorded video lectures, auto-graded and peer-reviewed assignments, and community discussion forums. In September 2020, Coursera partnered with Facebook to launch a new Social Media Marketing Professional Certificate. This would help learners without a college degree or any prior experience to become ready for social media marketing jobs within a few months.

edX is a non-profit online learning platform and digital education provider focused on transforming online and classroom learning through distinct methodologies, game-like educational experiences, and cutting-edge research on open-source platforms. The platform offers a wide variety of courses in science, technology, humanities, and other domains. edX offers programs, such as microbachelors programs, bachelor’s degrees, micromasters programs, master’s degrees, and professional certificates. In September 2021, edX partnered with LinkedIn Learning. The integration of LinkedIn Learning Hub would enable customers of edX for Business to discover the right content in one place, easily access skills insights across content sources, and customize the learner experience with curated learning paths.

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