The global online music learning market is expected to witness a steady growth rate of 6.1% during the forecast period. Emerging MOOCs (Massive Open Online Courses) are offering music learning opportunity with remote access. This coupled with low prices compared to traditional learning techniques are strongly propelling the demand for online music learning courses. This is expected to drive the growth of the online music learning market during the forecast period.
The online music learning market study enables industry members to apprehend various characteristics of the growing market. We have evaluated and estimated the market by considering high-tech developments, government initiatives, regional trends, upcoming investments from industry stakeholders. The report on global online music learning market also covers numerous other qualitative aspects of the market such as the impact analysis of drivers, opportunities, challenges and key industry trends. Further, the market study provides an in-depth analysis of the strategic framework of the players in the global online music learning market.
Increasing internet penetration, smartphones and tablets in the emerging economies are boosting the growth of the online music learning market. Thus, to capitalize on the growth opportunity many key players are launching a mobile phone application that enables music learning. For instance, Yousician a mobile app which offers an interactive music provision to learn and play a musical instrument. Yousician presently supports guitar, ukulele, piano, bass and voice lessons/courses. The company offers the application on Windows, iOS, Android and macOS platforms.
Further, key players in the market such as Hub Guitar. are offering freemium services, under which they give away service at no cost to the consumer as a way to establish the foundation for future transactions. By proposing basic-level facilities for free, companies are building relationships with consumers, ultimately offering them advanced/paid services, add ons, usage restrictions, certificates or ad-free user experience for an added cost. Thus, much entry-level and passionate music learner are proffering online music learning, which is boosting the growth of the market during the forecast period.
Based on the geography North America is projected to be the largest market by 2025. The growth is expected as many American students are selecting local online degree courses, as they find it to be more flexibility coupled with increased accessibility as students are less bound by location and time at reduced costs. This is driving the growth of the global online music learning market during the forecast period.
India is projected to grow with the fasted CAGR in the global online music learning market. With government initiatives such as Digital India and increasing smart technology penetration, the country is projected to witness a massive acceptance for online music to enhance their musical skills. Considering this opportunity, the massive population can offer, E-learning course providers such as Udemy, Coursera, and edX are focused on India online music learning market, which is projected to boost the market growth during the forecast period.
The key players in the market are Hub Guitar, Udemy.com, Coursera, Lynda.com, Skillshare, Inc, Guitar Tricks, EdX, FutureLearn, Takelessons, Berklee Online, JamPlay, LLC, TrueFire, Inc. MI Online (MIO) and others. The players in the market are focused on partnership and acquisition as the key strategy that shall enable them to provide their best possible service and products. For instance, in August 2019, Coursera acquired Rhyme, a San Mateo, California-based company that offered in-browser project material for learning software. The purchase is expected to support a new product that Coursera has been testing called as “Coursera Labs,” the product is expected to release tentatively by the end of the year and will enable the company’s associates to provide coursework and project-material completed on a web browser.
Key Segments of the Global Online Music Learning Market
Regional Overview, 2015-2025 (USD Million)
- North America
- South America
- Middle East and Africa