Global Massive Open Online Courses Market Outlook to 2027
DUBLIN, August 23, 2022 /PRNewswire/ — The “Massive Open Online Courses (MOOC) Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
The global MOOC market is expected to grow at a CAGR of 34.54% during the forecast period to reach US$7,209.889 million by 2027, $903.418 million in 2020.
Massive Open Online Courses, abbreviated as MOOCs, are free and scalable online courses for a large population. MOOCs are gaining popularity among knowledge seekers due to their low cost and lack of eligibility requirements. Moreover, these courses can also help people make the transition in their career by acquiring new qualitative knowledge and expertise and improving their prospects.
MOOCs are segmented into two types based on types: cMOOCs and xMOOCs. Connectivist MOOCs (cMOOCs) accentuate open-access elements such as open licensing, content, structure, and learning goals to enhance resource reuse and remix. Extended MOOCs (xMOOCs) use locked licenses for course content while allowing students free access. Furthermore, the growing trend of digitalization, rapid penetration of smartphones and flexible accessibility of the internet is driving the growth of the massive open online course market.
Growing technological advancements, changing trends, and ease of access are expected to propel the MOOC market over the projected period.
In the last couple of years especially, MOOCs have seen rapid growth due to the emergence of several MOOC platforms like EdX, Udacity, Coursera and many more as they offered free courses from many universities leading. The disadvantages of traditional universities, such as high academic requirements and exorbitant tuition fees, are also fueling the MOOC market. The pandemic has further increased the need for modernized and improved learning platforms like MOOCs.
The statistics taken from the report analyzed by the University of Arizona further consolidate this development. According to the report, the enrollment rate in the United States increased 4.2 times in United Stateswhile India grew seven times faster than the United States, registering a factor of 27.8.
Moreover, according to Class Central, out of the total number of MOOC registrations since their inception, a third of them were seen in 2020, making it the “Year of the MOOC”, with more than 180 million learners around the world, excluding China. Coursera registrations grew 640% in 2020 from mid-March to mid-April. Moreover, from January 2022, more than 900 universities offer free online courses around the world, according to Class Central. Additionally, among multiple courses, business and technology accounted for about 40% of the total.
Amid the pandemic, many MOOC providers have made their offerings free. Coursera, for example, offered free public health courses in 2020, including mental health and wellness, illnesses caused by COVID-19, and career development. According to Udacity senior officials, the platform’s weekly active users increased by 44.8% compared to March 9 to April 6 and the increase in new registrations of 73.3%.
The various strategic developments and initiatives taken by MOOC providers and the government are bound to increase the size of the market.
Insights COVID -19
COVID-19 has had a positive impact on the MOOC market. Mandatory closures and closures of schools and campuses have driven the demand for MOOCs. The negative impact on the economy of several industries has also led to the layoff of several employees. Therefore, many have signed up for free online courses to improve their skills. For example, 35 million and 15 million new users registered in Class Central edX and Future Learn, respectively, compared to 5 million and 1.3 million the previous year.
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market segmentation
4.2. Market factors
4.3. Market constraints
4.4. Market opportunities
4.5. Analysis of the five forces of carriers
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining powers of buyers
4.5.3. The threat of substitutes
4.5.4. The threat of new entrants
4.5.5. Competitive rivalry in the industry
4.6. Life Cycle Assessment – Regional Overview
4.7. Market attractiveness
5. Analysis of the MOOC market, by platform
6. MOOC Market Analysis, By Course
6.4. Social Sciences
7. MOOC Market Analysis, Geography
7.2. North America
7.2.1. UNITED STATES
7.3. South America
7.5. Middle East and Africa
7.5.2. Saudi Arabia
7.6. Asia Pacific
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Market Positioning and Ranking Matrix
8.2. Strategies of key players
8.3. Recent investments and deals
9. COMPANY PROFILES
9.6. Udemy, Inc.
9.7. Novo Ed
For more information about this report visit https://www.researchandmarkets.com/r/92ym6h
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SOURCE Research and Markets