Global MOOC Market Size, Trends & Analysis - Forecasts to 2026 By Component (Platforms [XMOOC, and CMOOC], Services [Consulting, Implementation, and Training and Support]); By Course (Humanities, Computer Science and Programming, Business Management, Science, Health and Medicine, Education and Training, Engineering and Other courses); By User Type (High School, Undergraduate, Postgraduate, and Corporate); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
MOOC Market Insights
The Massive Open Online Course [MOOC] market will experience an unprecedented boom at a CAGR rate of 40.2% in the 2020-2026 duration. A massive open online course is defined as a web-based distance learning program, aimed to target unlimited and geographically dispersed participants. The courses follow traditional course materials such as readings, filmed lectures, and problems along with interactive courses for the participants.
The rising need for a cheaper and broader participants base owing to a wider range of digital learners is escalating the demand of the MOOC market. Furthermore, modernization, easy access, and mobility is creating opportunities to penetrate in bigger audience network. Corporate sectors are adopting these courses to engage their employees and develop programs that are accelerating the demand for MOOC globally. These cost-effective courses help the organization to track their employee's development and improve their exciting skills. This virtual tool can provide 24*7 access to information with self-paced learning at an affordable rate which has attracted millions of learners in the past few years and expected to propel further in the mentioned period. Also, the global attack of coronavirus in the year 2020 has uplifted the participant enrollment in MOOCs in comparison to recent years owing shutdown of schools, colleges, and public & private sectors.
However, digital literacy and relying on content generated by a user creates a disorganized environment for learning. Language and translation have always acted as a major hurdle for the MOOC market growth.
MOOC Market: By Component
Given by component the market can be studied into services and platforms. The service segment is expected to escalate the MOOC market at a larger size within the projected years. The service segment is further segregated into implementation, consulting, and training and support.
MOOC Market: By Course
Based on courses the market is defined into health and medicine, humanities, computer science and programming, education and training, business management, science, and engineering among others. The education and training course is expected to register the highest CAGR between the forecast period. The continuous advancement, professional demand to adapt to the upgraded technology. For adaption education and training courses always helps teachers, professor, educator, and trainer to enhance and introduce their training and teaching skills. The MOOC also provides the modern pedagogical approach to the universities and colleges to uplift their teaching and training skills as required by the learners.
MOOC Market: By User Type
By user type, the market is segregated into undergraduate, high school, postgraduate, and corporate. The corporate segment is continuously dominating the MOOC market. The corporate segment is adopting the MOOC platform to engage its employees and develop the program. The segment has applied the platforms for purposes such as training and development, professional course, and certification to improve their employee's thinking ability and upgrade brand value. These cost-effective courses help the organization to track their employee's development and improve their exciting skills
MOOC Market: By Region
North America being the most progressive region in terms of IT infrastructure and adoption of technology, end up as the largest shareholder of the MOOC market. Awareness of the platform and the presence of various vendors is uplifting the business of the MOOC market. U.S universities are giving options to the student to either enroll in the on-campus course or opt digital mode of learning hence creating demand for the platform in the region.
The Asia Pacific and Europe are other regions immensely adopting the platform and are expected to grow a faster rate in the coming years compared to present scenarios.
MOOC Market Share and Competitor Analysis
The key players operating in the market include Pluralsight, Coursera, Kadenze, Udemy, Xuetangx EDX, Iversity, Udacity, Edmodo, Edureka, Linkedin, Futurelearn, NovoEd, Alison, Federica EU, Intellipaat, Jigsaw Academy, Kadenze, and Miríadax among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, Pluralsight comes up with an advanced enterprise technology skill platform. This technology is used to align skills development strategies with business objectives to improve cloud skill development.
In September 2020, Coursera collaborated with Salesforce, SV Academy, and IBM to launch two entry-level professional certificates to help the workforce of the U.S who does not have a degree from college. These certificates are for these groups and for those who are severely get affected by the pandemic.
Check the Press Release on Global MOOC Market Report
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The Global MOOC Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the MOOC Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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