SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- The global digital education market size is expected to reach USD 77.23 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 30.5% from 2021 to 2028. The education industry has witnessed a paradigm shift from conventional exam-oriented learning to personalized and interactive learning in recent years. As digitization continues to penetrate the education industry, the latest technologies and new and creative techniques are being used to deliver knowledge and educational content, thereby transforming learning and development into a lifelong process. Looking forward to the future, digital education is predicted to benefit several beneficiaries across various geographies, demographics, ages, and socioeconomic conditions.
Key Insights & Findings:
Digital technology can improve access to education. Learners are increasingly shifting toward eBooks that can be accessed online from anywhere across the globe. Digital content is comparatively easy to generate than printed content, which tends to incur higher production costs
Digital books are available in different languages and can be easily translated and retrieved by a wider user base. Moreover, learners, especially with physical disabilities, can listen to the educational content in an audio format to improve their vocabulary and encourage better interpretive reading
Enhancing student engagement is emerging as a prime concern for educators. Hence, market players are responding to such concerns by introducing advanced interactive whiteboards and are shifting from projector-based displays to touch screen displays. Such initiatives are encouraging active learning and developing critical readiness skills into the learners
To gain a competitive edge in the market, players have started adopting the client base expansion strategy by raising funds for the development of their platform. For instance, in November 2020, Udacity, Inc. raised USD 75 million in the form of a debt facility. The company will be using the funding amount to invest in its online course platform to attract more business customers
Digital education has changed the way people are pursuing learning. The interactive, flexible, high-quality, and collaborative learning facilitated by online learning platforms is particularly stimulating the growth of digital learning. Digital learning also provides users with the flexibility to take courses at their convenience. Hence, several institutions are offering online learning to their students. Corporates are also adopting online training modules for training their employees and helping them in upgrading their skill sets. Digital learning can also help overcome the barriers associated with the conventional teaching approach, such as the difference in the pace of learning of different students.
Education institutes have adopted digital learning to improve the efficiency of various processes, such as tracking students, reducing operational costs, and enhancing safety and security while providing information tools for teachers, administration staff, students, and researchers. Progressive educational institutions are looking forward to adopting the latest technology to transform the learning environment and merge the physical and virtual world to derive better student outcomes. The global market is a rapidly growing sector with companies spanning from early-stage start-ups to publicly traded organizations. The market is gaining a lot of attention from seasoned industry participants and generalist investors, primarily across the three main categories, i.e., K-12, higher education, and corporate learning. Each sector is unique and has different funding mechanisms, end users, and buyers.
Grand View Research has segmented the global digital education market based on course type, learning type, end-user, and region:
Digital Education Course Type Outlook (Revenue, USD Million, 2017 - 2028)
Science, Technology, Engineering, and Mathematics (STEM)
Digital Education Learning Type Outlook (Revenue, USD Million, 2017 - 2028)
Digital Education End-user Outlook (Revenue, USD Million, 2017 - 2028)
Academic Institutions & Individuals
Digital Education Regional Outlook (Revenue, USD Million, 2017 - 2028)
Middle East and Africa
List of Key Players of Digital Education Market
Brain4ce Education Solutions Pvt. Ltd. (Edureka)
Check out more studies related to education technology, by Grand View Research:
Smart Education And Learning Market – The global smart education and learning market size was valued at USD 182.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 17.9% from 2020 to 2027.
Education Technology Market – The global education technology market size was valued at USD 89.49 billion in 2020 and is expected to witness a compound annual growth rate (CAGR) of 19.9% from 2021 to 2028.
Education & Learning Analytics Market – Global education and learning analytics market size was valued at USD 17.01 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 17.4% from 2019 to 2025. The increased awareness about the potential of learning analytics in improving or changing a learning system in response to student performance.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.