Analysis of Massive Open Online Course (MOOC) market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The MOOC market will likely gain a market value of US$ 7.55 Bn in 2022. The Market for MOOC is expected to register a CAGR of 35% by accumulating a market value of US$ 152 Bn in the forecast period 2022-2032.
Market Size Value in 2022
US$ 7.55 Bn
Project Market Forecast Value in 2032
US$ 152 Bn
Global Growth Rate (2022-2032)
Market Share of North America
Key Companies Profiled
Riding on enabling factors such as internet and smartphone penetration, a rising learner population and new course additions by MOOC providers, the global MOOC market is expected to change the face of learning, work and career.
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As per Fact.MR’s report, from 2017 to 2021, the global sales of MOOC exceeded US$ 7.55 Bn by the end of 2021.
MOOC service providers are focusing on integration of universities and making them a top strategic priority for learners. This is followed by addition of new courses and degrees to the portfolio of various companies. In addition, MOOC market is riding on the wave of profitability by introducing courses of diverse domains.
Thus, due to the aforementioned reasons, the sales of MOOC are expected to exceed US$ 152 Bn by registering a CAGR of 35% through the forecast period 2022-2032.
Variety of Courses Bolstering Demand for MOOC Market?
MOOC enrolments have also witnessed a high growth trajectory over the past few years, and surpassed 350 million in 2018. Total enrolment to MOOC programs doubled in last four years, and Fact.MR’s conservative forecast indicates close to a billion enrolments by 2032.
In terms of subjects, technical courses reported maximum enrolment, with mathematics, data sciences and engineering topping the list.
In 2019, a total of 11,450 courses have been identified to be provided by various MOOC providers worldwide, up 22% from last year. Increase in the number of courses added to MOOC platforms has been very impressive, reporting a Y-o-Y growth of over 50% between 2014 and 2018.
A slight conservative growth was reported during the assessment period, yet market actors are confident of no significant impact on overall market performance. Moreover, the COVID-19 pandemic has played a crucial role in changing the business spectrum for MOOC market.
Different Degree Programs Providing Learning Opportunities?
Another critical aspect of the global massive open online course (MOOC) market is the kind of programs being offered by vendors. Certificate and professional programs along with degrees and master programs are two essential categories of programs offered in the existing MOOC business model.
MOOC vendors are also exploring and experimenting with programs to attract new enrolments, though a majority of new programs can broadly be incorporated in these two categories.
For MOOC vendors, both these programs are essential as there is an equal contribution from both the segments, and eventually the growth rates for both are also in sync, pushing vendors to prioritize both these programs at the same level of strategy.
Language Based Course Offering Driving Demand for MOOC Market?
A large majority of the MOOC players have similar business models that are targeting the same share of the market pie. The global market is characterized by cMOOC and xMOOC, and companies are offering solutions within these frameworks. The only advantage these companies have is the threshold of collaboration and enrollment, which too is volatile in nature.
Prime differentiating strategy adopted by MOOC providers is course differentiation and language based MOOC offering. Providers are also tying up with regional universities to improve their regional presence.
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Master’s Degree Certification Courses Creating Demand
Asia Pacific is becoming the fastest growing hub for online education. Millennial and Generation Z population from India and China have shown a growing preference towards learning online. Moreover, the presence of Information technology companies in India is influencing people to learn data analytics, machine learning and coding. Owing to these, people are enrolling themselves in online courses.
Furthermore, Master’s degree certification courses have gained immense popularity in the region as most online course providers have global universities providing the best education. Thus, Asia Pacific is expected to hold more than 40% market share for MOOC courses.
Most students from all over the globe have chosen universities present in the U.S. and Canada for pursuing masters in different subjects. In addition, online courses are providing internships despite of students belonging to different geographical locations.
Furthermore, online courses are also providing placements. Due to the facilities provided by online courses, the lines between online and offline learning have blurred.
Moreover, presence of prominent ed-tech companies is accelerating the growth of MOOC market in the region. Thus, North America is expected to hold more than 45% market share in the upcoming assessment period.
Increasing Demand for Management Courses Spearheading Demand
A sharp increase in management courses modelled to captivate corporate customers has also surfaced in the portfolio of key MOOC vendors, thus adding to the share of market revenue contributed by corporate customers. Technology companies are offering courses to job seeking aspirants and preparing employees for workplaces to enhance their thinking capabilities.
Thus, among all customer types, corporates lead the bandwagon, followed by individual customers – which account for one third of market contribution. This had led to enterprise/corporate sector gaining more than 40% market share for MOOC market.
Closure of Schools and Colleges amid the Pandemic Widening Prospects
The continuously changing face of education, learning and teaching methods along with newer pedagogical approaches has upsurged the demand for education and training courses. As the online way of teaching is much different from actual class teaching, educators, professors and teachers have shown a growing inclination towards learning new methods.
Furthermore, the diversity of different subjects that includes topics from architecture to music has paved way for education and teaching courses. Thus, according to Fact.MR, education and teaching courses are expected to hold more than 45% market share for MOOC market.
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As of 2022, the market for MOOC is expected to reach nearly US$ 7.55 Bn
The MOOC industry is expected to surpass a CAGR of 35% from 2022-2032.
The MOOC market is expected to reach nearly US$ 152 Bn by 2032
Availability of multiple courses along with integration with different universities are the key trends driving MOOC sales.
Alison, Coursera Inc, edX Inc, Federica.EU, FutureLearn, Instructure, Intellipaat, Iversity, Jigsaw Academy, Kadenze, LinkedIn Learning, Miriada X, NovoEd, Pluralsight, Simplilearn, Skillshare, Udacity, Udemy, Wiziq and Xuetangx are prominent MOOC market
Enterprise/corporate sector is expected to gain more than 40% market share for MOOC market.
Education and teaching courses are expected to hold more than 45% market share for MOOC market.
The MOOC industry is expected to possess nearly 45% market share throughout North America.
The MOOC industry is expected to possess nearly 40% market share throughout Asia.
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