What is Massive Open Online Course?
Massive Open Online Courses (MOOC) represents a distance-based approach to e-Learning wherein many students may participate in a highly collaborative & interactive fashion. Course contents are distributed with the help of web platform under a per-course or subscription model. The unique feature of MOOC is mass participation, social collaborations, interactive forums, & open-ended outcomes. There are a few key market factors to consider with MOOC including low cost certification, leveraging various technologies, costs reduction for corporate training, which will drive the growth of the market.
The market study is broken down by Type (Humanities courses, Computer Science and Programming courses and Business Management courses) and major geographies with country level break-up. According to AMA, the Global Massive Open Online Course market is expected to see growth rate of 40.23% and may see market size of USD20.8 Billion by 2026.
The players in the MOOC market have embraced different growth strategies to expand their global presence and market shares. New product launches and up-gradations, partnerships, agreements, and collaborations, have been major growth strategies adopted by the leading players in recent years, which helped them innovate on their offerings and broaden their customer base. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Massive Open Online Course market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Coursera (United States), edX (United States), Pluralsight (United States), Edureka (India), Alison (Ireland), Udacity (United States), Udemy (United States), Miríadax (Spain), Jigsaw Academy (India), Simplilearn (United States) and iversity (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Intellipaat (India), Edmodo (United States), FutureLearn (United Kingdom), LinkedIn (United States), NovoEd (United States), Open2Study (Australia), WizIQ (India) and Skillshare (United States).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Massive Open Online Course market by Type, Application and Region.
On the basis of geography, the market of Massive Open Online Course has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. XMOOC will boost the Massive Open Online Course market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Colleges will boost the Massive Open Online Course market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market players are investing lots of money in R&D sector to generate latest versions of their products for example, in October 2018, edX introduced 9 new Master’s degree programs from top global institutions in highly in-demand subjects, such as data science, cybersecurity, computer science, analytics, and supply chain management. The enhanced version of the MicroMasters Program can be stacked into a fully online Master’s degree program, thus strengthening the Master’s degree application.
Market Trend
- Technological advancement in MOOC products
- Inclination towards online courses due to unemployment
Market Drivers
- Growing Demand for Open Education
- Increasing necessity of Cost-Effective Education Platforms
Opportunities
- Global Training institutes are increasing rapidly
- Growing mobility and ease of use
Restraints
- Course Completion Rate is comparatively Low
Challenges
- Lack of Personalized Guidance
- Inefficiency in tracking and validating process
Key Target Audience
System manufacturer, Sub-component manufacturer, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.