European region’s growing emphasis on infrastructure, network, and connectivity is expected to improve digital education market.
NEWARK, UNITED STATES, April 22, 2022 /EINPresswire.com/ — The global digital education market is expected to grow from USD 7.78 Billion in 2020 to USD 107.25 Billion by 2030, at a CAGR of 30% during the forecast period 2021-2030. The increasing usage of smartphones, the rise in internet penetration across the globe, engaging teaching methods, availability to global material, and educators’ important aspects driving market expansion are all major reasons driving market growth. Personalized learning, effective self-directed learning skills, sharpened critical thinking skills, self-motivation, and expanded learning possibilities are the fundamental qualities of digital education for students and professionals.
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The science, technology, engineering, & mathematics (STEM) segment dominated the market with a market value of around 5.13 billion in 2020.
The course type segment is divided into business management, science, technology, engineering, & mathematics. The science, technology, engineering, & mathematics (STEM) segment dominated the market with a market value of around 5.13 billion in 2020. STEM graduates are in high demand in a variety of sectors. STEM content helps students in developing a natural desire to understand and explore the world around them, as well as improving scientific reasoning, improving understanding of the engineering design process, and using mathematics and critical thinking. As technology evolves, incorporating it into the classroom and multimedia materials makes it easier for students to understand complicated STEM concepts.
The instructor-led online education segment is expected to grow at the fastest CAGR of 32% over the forecast period.
The learning type segment is divided into instructor-led, self-paced. The instructor-led online education segment is expected to grow at the fastest CAGR of 32% over the forecast period. Instructor-led online education involves the delivery of content to students by the instructor, who delivers direct instructions to students, either individually or in groups, at some time during the course. This segment includes all courses that involve some type of instructor-led component for the purposes of this study. Many students, particularly in skill-based courses, prefer instructor-led online education. Though instructor-led online education is more expensive than self-paced online education, it is still less expensive than finding and interacting with a teacher in person. The demand for instructor-led online education is predicted to rise as students become more aware of the benefits of instructor-led education.
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The academic institutions and individuals segment dominated the market, accounting for around 5.45 billion of global revenue.
The end user segment is divided into enterprises, individuals, and academic institutions. The academic institutions and individuals segment dominated the market, accounting for around 5.45 billion of global revenue. If they include digital education as one of their services, it gives them an advantage over other academic institutions. The restrictions enforced during the epidemic impacted institutes that were only working offline; those who saw this as an opportunity and began offering online services will naturally rise over the rest.
Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region emerged as the largest market for the global digital education market with a 2.79 billion of the market revenue in 2020. North America leads the digital education market, owing to a growing need to improve employee skills and student technicalities, increased scalability through online learning, rising demand for distance education and government initiatives, and increased penetration of handheld devices in this region.
The major players of market include Alison, Coursera, Edmodo, Edureka, edX, Federica EU, FutureLearn, Intellipaat, Iversity, Jigsaw Academy, Kadenze, Khan Academy, LinkedIn, Linkstreet Learning, Miríadax, NovoEd, Pluralsight, Udacity, Udemy and XuetangX among others.
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