United States, Rockville MD, Aug. 10, 2022 (GLOBE NEWSWIRE) — As per Fact.MR’s report, The MOOC market will likely gain a market value of US$ 7.55 Bn in 2022. From 2017 to 2021, the global sales of MOOC exceeded US$ 7.55 Bn by the end of 2021. A massive open online course (MOOC) is a web-based distance learning program designed for the participation of large numbers of geographically dispersed students.
Massive Open Online Courses (MOOCs) are open-access online courses that anyone can enroll for. MOOCs offer anyone an inexpensive and flexible opportunity to learn new skills. The market for MOOCs is primarily determined by a variety of industry factors, as well as the growing importance of online learning around the world.
Digital advancements in online courses over the past decade have boosted the growth of the massive open online course market substantially. Advantages such as lower cost, availability in different languages, availability of demo classes, special attention to every student, open for everyone, and others are fueling the demand for massive open online courses worldwide.
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Key Takeaways from Market Study
- The global sales of MOOC exceeded US$ 7.55 Bn by the end of 2021.
- The sales of MOOC are expected to exceed US$ 152 Bn by registering a CAGR of 35% through the forecast period 2022-2032.
- Asia Pacific is expected to hold more than 40% market share for MOOC courses.
- North America is expected to hold more than 45% market share in the upcoming assessment period.
Impact of COVID-19 on Demand for MOOCs
The outbreak of the COVID-19 pandemic changed the approach of educational systems around the world. Extended periods of lockdown followed by the shutting down of schools, colleges, and other educational institutions impacted the traditional ways in which education was made available through various courses offered by these institutions.
While most markets are struggling to cope with the implications of the COVID-pandemic, the massive open online course market is expected to thrive. The demand for online classes and training modules has risen exponentially amid the COVID-19 crisis, especially as schools and institutions remain shut on government orders to contain the spread of the virus.
The global MOOC market report provides a systematic study to the stakeholders on numerous parameters of growth such as competitive scenario, regional assessment, and notable trends. The researchers have closely studied and monitored the impact of COVID-19 on the MOOC market and have been included in the report. Furthermore, the report also highlights the pain points so that the stakeholder can design the business strategy accordingly.
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MOOC ((Massive Open Online Course) Market: Competitive Scenario
The MOOC market comprises numerous players that invite considerable competition. The players in the MOOC market are trying to upgrade their services and features to facilitate a seamless experience for the end-user. The government support for the efficient functioning of MOOCs through expanding broadband connectivity across remote and rural regions is also bringing considerable growth opportunities for the MOOC market to magnify its consumer base.
Competitive Landscape –
- In October 2021, Alison announced free skill training to learners to meet the US apprenticeship surge. The company is offering 25 courses that focus on providing job offers to learners.
- Miríada X, a regional MOOC provider offers more than 490 courses in Spanish & Portuguese, created by the leading universities in Spanish and Portuguese speaking countries.
Key Segments Covered in the MOOC Industry Report
- Individual MOOCs
- Enterprise / Corporate MOOCs
- MOOCs for Small Enterprise
- MOOCs for Medium Sized Enterprise
- MOOCs for Large Enterprise
- MOOCs for Educational Institutes
- MOOCs for Reskilling and Online Certification
- MOOCs for Language and Casual Learning
- MOOCs for Supplemental Education
- MOOCs for Higher Education
- MOOCs for Test Preparation
- Certificate & Professional Program MOOCs
- Degree & Master Programs MOOCs
- Other MOOC Programs
- Business & Management MOOCs
- Data Science / Programming / Computer Science MOOCs
- Science (Pure) MOOCs
- Social Science MOOCs
- Humanities MOOCs
- Educational & Teaching MOOCs
- Engineering MOOCs
- Health & Medicine MOOCs
- Mathematics MOOCs
- Art & Design MOOCs
- Other MOOCs (Law, Language Etc.)
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