MOOC market to tap growth opportunities with the creation of more regional content, finds Frost & Sullivan's Education team
LONDON, June 19, 2017 /PRNewswire/ -- By offering anytime-anywhere access to educational content across devices, massive online open courses (MOOCs) are disrupting the K-12, higher education and continued learning markets. MOOCs support learning pedagogies such as flipped classrooms and blended learning, contributing heavily to the shift in learning trends and closing the gap between higher education and employment preparedness. Educational institutions, meanwhile, can make the most of the opportunities offered by MOOCs by expanding enrolment and marketing their degree programs to a wider audience, beyond international borders.
Global Massive Online Open Courses (MOOCs) Market is part of Frost & Sullivan's Education Growth Partnership Subscription. The study projects that the MOOCs market will grow to $8.5 billion by 2022. The top three vendors in the global market are Coursera, Edx and Udacity.
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"MOOCs are gaining relevance in the K-12 market by focusing on richer test prep and advanced placement courses to help students get credits for college," said Frost & Sullivan Education Research Analyst Deviki Gupta. "With an increase in competition among educational institutions and the saturation of domestic markets, higher education institutions are trying to capture the growing market of online learners by investing in MOOCs."
While the market is preparing for explosive growth, the lack of regional language content, limited opportunities for educators' professional development, and low recognition of the credibility of MOOCs among educators are issues that need to be addressed quickly. More than 70% of MOOCs are offered in English, which alienates learners that do not speak the language. Furthermore, educators are largely resistant to technologies outside of their traditional teaching methods. They also fear being replaced by or substituted with digital learning services such as MOOCs.
"As employers often prefer to hire candidates who have attended a traditional full-time program rather than an online degree program, MOOC vendors have to make concerted efforts to make their courses relevant and credible," noted Gupta. "Considerable progress is already being made in this regard; for instance, LinkedIn recently purchased Lynda.com, taking a huge step toward connecting continued learning with the job market. By allowing employees to display their certifications, nanodegrees and skill set on their professional online profiles, such partnerships give a huge boost to the MOOC market."
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SOURCE Frost & Sullivan