The increasing use of AI and machine learning will significantly expand the market for massive open online courses. Organizational investments in initiatives for employee engagement and development have increased. Universities and venture capitalists looking to invest in the program are driving the massive open online course (MOOC) market's rapid expansion. Massive open online courses allow students to enroll in any number of courses, usually for no charge. The online course also offers a platform, a discussion board, and customized e-learning options that support self-paced learning.
According to Data Bridge Market Research, the Global Massive Open Online Courses (MOOCS) Market is valued at USD 9,209.55 million in 2022 and will reach USD 84,474.06 million by 2030, growing at a CAGR of 31.92% during the forecast period of 2023 to 2030
“Cost-effectiveness surge market demand"
Providing courses at low or no cost, MOOCs have revolutionized education by lowering the financial barriers that frequently prevent people from accessing high-quality education. Education is now more readily available to people who might not otherwise have the financial resources to enroll in traditional educational programs to its affordability. It gives lifelong learners, students from low-income backgrounds, or people seeking professional development the chance to acquire knowledge and skills without having to bear heavy financial burdens, which can spur market expansion.
What restraints the growth of the global massive open online courses (MOOCS) market?
“Limited interaction and feedback can impede the market growth”
The massive size of these courses can lead to a lack of interaction and feedback. It becomes difficult for instructors to give each student individualized attention and feedback when there are a lot of participants. As they may find it challenging to get their questions answered or receive personalized guidance, learners may have a less engaging and interactive learning experience as a result. Automated feedback systems and peer-to-peer interactions are frequently used to support instructor-led interactions, but they may fall short of meeting the need for individualized support.
Segmentation: Global Massive Open Online Courses (MOOCS) Market
The massive open online courses (MOOCS) market is segmented on the basis of component, subject, customer, objective, program, application and end user.
- On the basis of component, the massive open online courses (MOOCS) market is segmented into platform, services
- On the basis of subjects, the massive open online courses (MOOCS) market is segmented into technology, business management, computer science and programming, engineering, science, sociology and philosophy, humanities, education and training, healthcare and medicine, arts and design, mathematics, foreign language learning, others
- On the basis of customer, the massive open online courses (MOOCS) market is segmented into individual MOOCS, enterprise / corporate MOOCS, MOOCS for small enterprise, MOOCS for medium sized enterprise, MOOCS for large enterprise, MOOCS for educational institutes
- On the basis of objective, the massive open online courses (MOOCS) market is segmented into MOOCS for reskilling and online certification, MOOCS for language and casual learning, MOOCS for supplemental education, MOOCS for higher education, MOOCS for test preparation
- On the program, the massive open online courses (MOOCS) market is segmented into certificate and professional program MOOCS, degree and master programs MOOCS, other MOOC programs
- On the basis of application, the massive open online courses (MOOCS) market is segmented into education, research and study, others
- On the basis of end user, the massive open online courses (MOOCS) market is segmented into students, professionals.
Regional Insights: North America dominates the global massive open online courses (MOOCS) Market
North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the growth of service providers in the United States and Canada has led to an increase in the global market for massive open online courses. As an example, EdX introduced MicroBachelors in 2020, allowing people to explore a scholarly subject.
Asia-Pacific will undergo the highest growth rate during the forecast period owing to China is using digital learning technology to improve education equity, quality, and efficiency due to its large working and studying population. The development of MOOCs in China is also being aided by national government initiatives. For instance, the Smart Education of China initiative and the comprehensive website Chinaooc, which includes all MOOC platforms in mainland China, were both introduced in March of this year by the Chinese Ministry of Education.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-mooc-market
Recent Developments in Global Massive Open Online Courses (MOOCS) Market
- In 2022, The University of California, Riverside Extension (UCRX) and edX, one of the top global online learning platforms from 2U, Inc., have partnered to develop the first Massive Open Online Courses (MOOCs) for UCRX on the edX platform. The courses, which cover well-being, mental health, and world languages, will be free to audit for edX students.
- In 2022, The first two MicroBachelors programs in Statistics Fundamentals and Mathematics, as well as the LSE's first MOOC, were jointly launched by the London School of Economics and Political Science (LSE) and edX, one of the top online learning platforms in the world from 2U, Inc. The LSE is the first university to expand its degree partnership with the 2U and introduce a number of edX micro-credentials, providing students with a flexible, stackable path to pursuing an entirely online undergraduate degree.
The Prominent Key Players Operating in the Global Massive Open Online Courses (MOOCS) Market Include:
- Coursera Inc. (U.S.)
- edX LLC (U.S.)
- Pluralsight LLC. (U.S.)
- Brain4ce Education Solutions Pvt. Ltd (India)
- Alison (Ireland)
- Udacity, Inc. (U.S.)
- Udemy, Inc.(U.S.)
- Miríadax (Spain)
- Jigsaw Academy Education Pvt. Ltd. (India)
- Simplilearn Solutions (U.S.)
- iversity Learning Solutions GmbH (Germany)
- Intellipaat (India)
- Edmodo (U.S.)
- FutureLearn (U.K.)
- LinkedIn (U.S.)
- NovoEd, Inc (U.S.)
- Open2Study (Australia)
- WizIQ (India)
- Skillshare, Inc (U.S.)
- XuetangX (China)
Above are the key players covered in the report, to know about more and exhaustive list of global massive open online courses (MOOCS) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Massive Open Online Courses (MOOCS) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
