Growing demand for interactive learning experience is encouraging service providers to integrate advanced technologies to propel further growth in the Global Online Course Platform Industry Market
Covid-19 Impact & Market Status
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries. As a result of the outbreak, the global food and beverage industry is one of the major businesses experiencing substantial disruptions such as supply chain disruptions, technology event cancellations, and office closures. With the presence of and the largest raw material suppliers, China is the global industrial powerhouse. The overall market breakdown due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
For many industries around the world, the implications of a pandemic are irreversible and unpredictable. COVID-19 has impacted the education of almost a billion children worldwide, with nearly 120 countries discontinuing face-to-face learning. The majority of higher education is delivered via online course platforms. Meanwhile, practically every country in the world, including Malaysia's higher education ministry, has issued an order to close public schools and universities as an emergency step to curb the spread of the COVID-19 epidemic. Artificial intelligence, for example, has transformed traditional schooling into a modern style of learning. Thus, online course platforms are included in a broader definition of technology-based learning, which includes websites, learning portals, video conferencing, YouTube, mobile apps, and a plethora of other free blended learning websites. Through the internet, online course platforms are currently boosting students' knowledge, as well as academic staff, professional and industrial people's skills. The majority of higher education institutions provide online courses to their students on and off-campus. The Malaysian government is investing heavily in higher education. Malaysian institutions, colleges, and polytechnics are reportedly embracing Massive Open Online Courses, according to news sources (MOOCs). Most instructors and learners are pleased with the switch to online education, which has been made possible by the closure and lockdown of colleges around the world owing to the COVID-19 pandemic. Professors at prestigious colleges have begun to obtain online instructor credentials to provide online instruction to their learners. Faculty members are understanding how to use online learning tools at the same time. Previously, they only used face-to-face instruction as a method of delivery. However, the transition to online learning has prompted concerns about educational quality. Moreover, institutions are transforming their teaching approaches with the use of tacit knowledge, and outstanding foundations such as computers and IT modern equipment receptions are now in high demand. As a result of this unexpected change from face-to-face to online courses, students and lecturers encounter few challenges.
This research report offers a detailed market outlook of the global online course platform industry market depending upon the current economic situation and developments in the application, type, and regional segments. It does a deep analysis of the impact of covid-19 on the market and recovery strategies applied by market players to restore the growth trends and maintain market competitiveness. The in-depth insights documented in the report enable well-informed investment decisions by for the new payers, aspirants, and also the well-established ones in the global online course platform industry market.
Cloud-based Online Course Platform Industry Type to Emerge as the Most Lucrative Segment
Global online course platform industry market is classified into cloud-based and on-premise type segments. Among these, the cloud-based type online course platform industry is poised for substantial market growth in the years ahead. The cloud-based online course platform industry holds the largest share in the year 2020, as the online learning market has observed a huge rise since the pandemic of COVID. The pandemic has led to the shutdown of all schools, colleges, universities, and even all the other educational institutions. Thus, as a result of this, all the students or educational aspirants have almost got dependent on the web-based eLearning courses or solutions. Cloud-based online educational architecture facilitates an enhanced and interactive feature such as quizzes and monologues that challenge the recipient's depth of knowledge and level of utilization by replicating the conventional back and forth that originates with face-to-face training.
Large Enterprises Applications to Ensure Revenue Maximization
Global online course platform industry market is classified as Large Enterprises, and Small and Medium-sized Enterprises (SMEs) type applications. Among these, the Large Enterprises type online course platform industry application segment is poised for substantial market growth in the years ahead. Large enterprises have a better share in the market and have established themselves to serve a huge number of customers. Unlike small businesses, large enterprises often have veracious requirements and an expectation of large-scale deployments. The biggest pro of large enterprises is its extensible platform. Major players have made the transition from basic service into a complete premium platform provider, serving mid-to-large enterprises both directly and through strategic technology partners with a highly scalable portfolio and highly redundant global network. For enterprises, service-level agreements ensure the quality of pricing models reflective of large-scale engagements and a higher level of customer support and professional services. As a result, large players have become trusted providers to the customers, cloud application vendors, and channel partners such as value-added resellers and system integrators. The large market captures coupled with better potential to provide service and a trusted establishment has led the segmental market value over the years.
Backed by Immense Development Potential North America Online Course Platform Industry Market to Sail Ahead
Performance analysis of global online course platform industry market based on regional segmentation states that North America is the most mature market for online course platform industry adoption and investments. The region is likely to garner maximum revenue share of global online course platform industry market in the years ahead, mostly from 2021 to 2027.
This is evident from rapid investments in new digital technologies, shift in user preferences, applications in various industry verticals such as gaming, content creation, Small and Medium-sized Enterprises (SMEs) media, and conference across leading countries in the region such as Canada and United States.
Additionally, technological advancements due to various research and developments initiatives, the presence of tech giants, commercial mergers and partnerships, expansions of the leading companies in regional and global market are improving the growth feasibility of global online course platform industry market in North America.
North America is expected to witness decent growth over the years. In terms of deployment, the cloud segment led the North America online course platform industry market in 2020. The rising popularity of web services due to no hardware configuration and specific operating systems is driving the market growth for the cloud-based online course platform industry in the region. The cloud-based deployment is suitable for enterprises with several tutors, and collaboration and reviews are needed. Also, an organization seeking better flexibility can opt for a cloud-based online course platform industry. This can be updated remotely. Thereby, new features can be accessed easily without changing the tool on the author’s end. The rising investments in North America EdTech startups that are integrating advanced technologies such as AR, VR, and AI in education solutions are boosting the overall trend of digitalization in the education sector. Also, cloud-based solutions boosting the acceptance of the online course platform industry are among the other factors expected to propel the demand for the online course platform industry during the forecast period.
COVID-19 pandemic has created huge opportunities and will be a source of new additional and major opportunities in the coming period, thus furthering the inclusion of Online Course Platform Industry
During the projection period, the service providers segment of the US e-learning market would grow at a significant growth rate. The availability of high-speed internet and the launch of the 5G network in the United States are presenting market players with attractive prospects to implement innovative technology. Verizon Communications Inc. stated in April 2021 that it would launch 5G internet for companies in 21 cities across the United States. This will allow service providers to improve learning by incorporating AR and VR technologies, both of which require a high-speed internet connection to operate well. Immersive technology is helping to improve communication, collaboration, and employee and student engagement. As a result of these advantages, service providers have been motivated to concentrate on adopting these services and assisting universities and businesses in improving the learning experience.
The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the world since then. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States were among the countries with the highest number of positive cases and reported deaths. Due to lockdowns, travel bans, and company closures, the COVID-19 epidemic has impacted economies and businesses in a number of countries.
These are some key factors bringing thumping growth of global online course platform industry market, ensuring market size growth of approximately 3,716.35 USD million by 2027 at a CAGR of 19.77% from 2021 to 2027.
The increasing internet penetration in various regions around the world is a major driver driving market expansion. The growing popularity of cloud-based solutions, together with significant expenditures by leading market players in improving the security and stability of cloud-based education platforms, is driving up end-user adoption. The market's abundance of service and content providers is bringing massive amounts of instructional content online. The use of this technology is being fuelled by lower hosting costs and increasing demand for instructional content, which is boosting the market growth. Artificial intelligence developments and the rapid rise of the Internet of Things (IoT) will contribute to improving the user experience on these online education platforms, boosting the market growth during the projected period. With an expanding number of students enrolled in academic institutions and a constant need to upskill and give industry-relevant training to employees, academic institutions and corporations must devise solutions that allow individuals to learn at any time and from any location. Many educational institutes are mixing face-to-face and online learning at all educational levels due to the growing number of students and the cost efficiency of online education. For example, Berkeley University of California recently teamed with edX to offer a free Data 8 course online, which was previously only available to those who were accepted into the university. New MOOCs and distance learning courses are often offered by colleges and institutions around the world.
Academic Institutions Hold a Significant Market Share. Other elements leading to the expansion of online education by educational institutions are the increased efficacy of animation learning and the flexibility of learning. Students are adopting online education as a result of a lack of qualified staff in numerous institutions and colleges across developing countries. Another important driver for the industry's expansion is government support and funding.
Some learners who do not have dependable access to the technology or internet find it difficult to engage in digital learning; this divide exists throughout countries and between income levels within countries. According to OECD (Organisation for Economic Co-operation and Development) data, while 95% of learners in Norway, Switzerland, and Austria have access to a computer for coursework, only 34% of learners in Indonesia have. In the United States, there is a considerable divide among those from affluent and poor homes: although nearly all rich 15-year-olds indicated they had access to a computer, around 25% of those from underprivileged families did not. While some schools and governments, like those in Australia, New South Wales, have begun donating digital devices to pupils in need, many people are still concerned that the pandemic will exacerbate the digital gap. As a result, the online course platform industry market is experiencing an indirect influence, resulting in market instability. Although, as time passes and people – students, professors, and parents – become more accustomed to online course platforms, internet access for lower-class kids will become more readily available in the future Nevertheless, COVID-19 pandemic has created huge opportunities and will be a source of new additional and major opportunities in the coming period for the global online course platform industry market.
The major players of the global online course platform industry market are Thinkific, Kajabi, Click4Course, LearnWorlds Ltd, Podia Labs, Inc, Pathwright, Digital Chalk, Zoho Corporation Pvt. Ltd., LearnDash, and TalentLMS.
Among all other established and emerging companies and investors. These market players are spread across the world and are aggressive in developing new technologies to lead the market and improve revenue growth. Furthermore, the market players to stay ahead of the competitive landscape are unravelling strategic initiatives like mergers and acquisitions, new product portfolios, and technological innovations.
Online Course Platform Industry Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||3,716.35 USD million|
|Growth Rate||CAGR of 19.77% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Thinkific, Kajabi, Click4Course, LearnWorlds Ltd, Podia Labs, Inc, Pathwright, Digital Chalk, Zoho Corporation Pvt. Ltd., LearnDash, and TalentLMS.|
Key Segments of the Global Online Course Platform Industry Market
Type Overview, 2018-2027 (USD million)
Application Overview, 2018-2027 (USD million)
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Regional Overview, 2018-2027 (USD million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa