Sarasota, FL -- (SBWire) -- 03/21/2019 --Zion Market Research has published a new report titled "Massive Open Online Course Market by Component (Platform and Services), by Course (Humanities, Computer Science and Programming, Business Management, Science, Health and Medicine, Education and Training, Engineering, and Others), and by User Type (High School, Undergraduate, Postgraduate, and Corporate) Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025''. According to the report, the global massive open online course market was valued at around USD 3.61 billion in 2018 and is expected to reach approximately USD 25.33 billion by 2025, at a CAGR of slightly above 32.09% between 2019 and 2025.
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A massive open online course is a platform that enables users to learn various courses online without any limit on attendance. MOOC is a course that comprises an option of open and free registration with the publicly shared syllabus and flexible outcomes.
The global massive open online course market is primarily driven by growing internet usage and rising adoption of advanced technologies, such as machine learning and artificial intelligence. Additionally, the major IT players, such as Microsoft, offer online courses to understand artificial intelligence through edX to their users. In addition, the growing demand for video-based courses in the corporate sector is also expected to contribute toward the global massive open online course market in the future. The corporate education providers, such as SkillSoft, Udemy, Grovo, BigThink, and Lynda (LinkedIn), focus on offering technical education through excellent content. Contrarily, the lower completion rate of these courses may hamper the massive open online course market over the estimated timeframe. Nonetheless, the growing number of subjects covered by these courses is expected to open new opportunities for the global massive open online course market.
The global massive open online course market is segmented on the basis of component, course, and user type. Based on the component, the market is categorized into platform and services. The platform segment is further classified into XMOOC and CMOOC. The services segment is divided into consulting, implementation, and training and support. The services segment is estimated to grow significantly over the projected time period, owing to its rising adoption in universities and corporates.
Based on course, the massive open online course market is classified into humanities, computer science and programming, business management, science, health and medicine, education and training, engineering, and others. The education and training segment is expected to show the highest CAGR over the projected time period, owing to the increasing adoption of advanced technologies, such as machine learning and AI.
Major user types of this global market include high school, undergraduate, postgraduate, and corporate. The corporate segment is expected to dominate the market over the forecast time period, owing to the high MOOC adoption as a part of development programs and employee engagement activities by corporates.
By region, North America held the largest share of the global massive open online course market in 2018 and is expected to dominate over the forecast period as well. This regional growth can be due to the presence of a large number of solution vendors in the U.S. and Canada. In addition, many universities in the U.S. allow massive open online courses to contribute toward the completion of the final degree, which is also contributing to the region's market growth. The European massive open online course market is estimated to witness significant growth over the forecast timeframe, due to the initiatives taken by the European Association of Distance Teaching Universities for increasing student awareness and partnering with leading universities to promote MOOC. Asia Pacific is expected to be the fastest growing region in the global massive open online course market, owing to a large number of universities and colleges supporting MOOC courses.
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Some key participants operating in the global massive open online course market are Pluralsight, Coursera, EDX, Iversity, Udacity, Linkedin, Futurelearn, Novoed, Udemy, Xuetangx, Alison, Edmodo, Edureka, Federica EU, and Intellipaat, among others.
The report segments the massive open online course market as follows:
Massive Open Online Course Market: Component Analysis
Platform
XMOOC
CMOOC
Services
Consulting
Implementation
Training and Support
Massive Open Online Course Market: Course Analysis
Humanities
Computer Science and Programming
Business Management
Science
Health and Medicine
Education and Training
Engineering
Others
Massive Open Online Course Market: User Type Analysis
High School
Undergraduate
Postgraduate
Corporate
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Massive Open Online Course Market: Regional Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Global Massive Open Online Course Market Is Anticipated to Reach Around USD 25.33 Billion by 2025
Global massive open online course market expected to reach approximately USD 25.33 billion by 2025, at a CAGR of slightly above 32.09% between 2019 and 2025. The global massive open online course market is primarily driven by growing internet usage and rising adoption of advanced technologies, such as machine learning and artificial intelligence.