Global Digital Education Market Size Surges, Reflecting the Rapid Evolution of Online Learning Platforms
Digital Education market thrives on increased internet penetration, demand for personalized learning, reshaping global education dynamics.
PORTLAND, OREGON, UNITED STATES, November 13, 2023 /EINPresswire.com/ -- The digital education market was valued at $12.5 billion in 2021, and is estimated to reach $125.3 billion by 2031, growing at a CAGR of 26% from 2022 to 2031.
Digital education is a technique or method of learning that involves technology and digital devices. This is a new and broad technical sphere, which is expected to help any student attain knowledge and gain information from any corner across the country. It is believed that digital education is the future of education and learning. In addition, technology has a significant impact on the way students learn and the way teachers conduct lessons.
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As educational technology becomes more sophisticated, more accessible, and more engaging, schools and parents are better equipped to adapt to the new trends of digital education. Technology has impacted education by introducing new learning methods, such as adaptive learning, flipped classroom models, and massive open online courses (MOOCs).
Digital Education Market Chart
Rise in the adoption of advanced technologies in digital learning, increase in penetration of smartphones, and internet penetration positively impacts the growth of the market. In addition, surge in use of AI and machine learning in digital education boosts the growth of the market across the globe. However, factors such as lack of social interactions in the digital education and high cost of implementation limit the growth of the market. On the contrary, emergence of several trends, such as micro learning, gamification, adoptive learning, and mobile learning are expected to offer remunerative opportunities for the expansion of the market during the forecast period.
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Depending on learning type, the self-paced online education segment holds the largest digital education market share as it can be done across different platforms, websites, PCs, and mobile apps. However, instructor-led online education segment is expected to witness growth at the highest rate during the forecast period due to real time doubt clarification and two-way interactions.
Region wise, the digital education market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to the availability of high-speed internet and the advent of the 5G network. In addition, 5G network enables service providers to improve learning through the incorporation of AR & VR technologies that require high-speed internet connection for effective operation. However, Asia-Pacific is expected to witness significant growth during the forecast period, due to the growing internet penetration and adoption of digital learning by various institutes across the region.
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The key players that operate in the digital education market analysis are Alison, Brain4ce Education Solutions Pvt. Ltd., BYJU'S, Coursera Inc., DataCamp, Inc., Edmodo, edX LLC., Intellipaat Software Solutions Pvt. Ltd., iversity learning solutions GmbH, Jigsaw Academy Education Pvt. Ltd., LinkedIn Corporation, MiriadaX, NovoEd, Pluralsight LLC., Udacity, Inc., Udemy, Inc., and XuetangX. These players have adopted various strategies to increase their market penetration and strengthen their position in the digital education industry.
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