Easy availability, accessibility, and affordability of MOOC are estimated to stimulate market demand.
Massive Online Open Course (MOOC) Market Size – USD 5.39 Billion in 2020, Market Growth – CAGR of 35.30%, Market Trends – High demand for MOOC from the corporate sector
The global Massive Online Open Course (MOOC) market is expected to reach USD 59.63 Billion by 2028, according to a new report by Reports and Data. A massive open online course (MOOC) is a kind of online course that provides open access and interactive participation to interested candidates through the internet. MOOCs provide course materials, to the participants, that are generally used in a conventional education setting, such as lectures, study materials, videos, and problem sets. Besides this, MOOCs provide interactive user forums, which are tremendously useful in building a community for students, teaching assistants, and professors.
Easy availability, accessibility, and affordability of MOOC is estimated to stimulate market demand in the forecast period. MOOCs, mainly xMOOCs, offer high quality content from some of the best global universities for free to anyone possessing a computer and an internet connection. This in itself is an astounding value proposition, and hence, MOOCs are an incredibly valuable addition to educational provision.
The high demand for MOOC from the corporate sector is expected to boost market demand. MOOCs have steadily shifted to offering content that is relevant to the world of work with course topics ranging from machine learning and Java programming to communication and leadership. As corporate employees are already using MOOCs to acquire and update professional skills and enhance their career prospects on their own, companies have an unexploited opportunity to harness this kind of learning method in the service of organizational goals.
Key participants include Canvas Networks Inc., edX Inc., Udacity Inc., Coursera Inc., Udemy Inc., Intellipaat, Edureka, Khan Academy, Pluralsight, and FutureLearn, among others.
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Further key findings from the report suggest
- By type, xMOOC contributed to a larger market share in 2020 and is expected to grow at a rate of 34.8% in the forecast period.
- By provider type, private companies dominated the market in 2020 and are expected to grow at a significant rate over the forecast period.
- By subject type, MOOC for engineering and technology occupied 26.9% of the market in 2020.
- Corporates held the largest market share in 2020 due to the increasing acceptance of MOOC for career growth and development.
- The market in the Asia Pacific region is projected to experience the highest growth rate of 35.8% in the forecast period
For the purpose of this report, Reports and Data have segmented the global MOOC market on the basis of type, provider type, subject type, end-users, and region:
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/massive-online-open-course-mooc-market
Type Outlook (Revenue, USD Million; 2020-2028)
Provider Type Outlook (Revenue, USD Million; 2020-2028)
- Private Company
Subject Type Outlook (Revenue, USD Million; 2020-2028)
- Engineering & Technology
- Business Management
- Humanities & Social Sciences
End-Users Outlook (Revenue, USD Million; 2020-2028)
- High School Students
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Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
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