Online Learning Software and Platform Market Size to Grow USD 19090 Million by 2029 at a CAGR of 15.7% | Valuates Reports
BANGALORE, India, Nov. 10, 2023 /PRNewswire/ -- Online Learning Software and Platform Market is Segmented by Type (Cloud, On Premises, Mobile), by Application (K 12, Vocational Training, Higher Education): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Online Learning.
The global Online Learning Software and Platform Market is projected to grow from USD 7959.5 Million in 2023 to USD 19090 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period.
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Major Factors Driving the Growth of Online Learning Software and Platform Market:
A number of factors, including the growing demand for e-learning, customised and adaptive learning solutions, the expansion of lifelong learning, accessibility and convenience, cost-effective options, corporate training needs, technological advancements, and government support, are driving the market for online learning software and platforms. It is anticipated that the future of education and workforce development will be significantly influenced by the ongoing development of online learning platforms.
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TRENDS INFLUENCING THE GROWTH OF ONLINE LEARNING SOFTWARE AND PLATFORM MARKET:
The market for online learning platforms and software is mostly driven by the increasing need for e-learning solutions. Digital learning is gradually replacing or supplementing traditional educational approaches, particularly with the advent of remote and hybrid learning. Online learning platforms are being used by people, organisations, and educational institutions to provide access to a vast array of instructional information.
Personalised and adaptive learning capabilities are becoming more and more common in online learning platforms. These technologies maximise engagement and knowledge retention by customising educational content for each student using data analytics and artificial intelligence. This personalization makes studying more enjoyable overall and motivates students to utilise these platforms frequently.
In the contemporary workforce, lifelong learning has also gained importance. Professionals may stay competitive in their careers by obtaining new skills and certifications through online learning platforms. The abundance of options for learning, ranging from quick micro-courses to entire degrees, draws students who want to continuously improve their skills throughout their employment.
Online learning environments provide ease and accessibility to students all around the world. They remove barriers related to geography, enabling those living in isolated or underprivileged locations to attend education. With the ability to access course materials, work with classmates, and finish tasks at their own speed, education has become more flexible and accommodating of different schedules.
Comparing online learning to traditional schooling, it is frequently more affordable. Students can save money on transportation, lodging, and printed textbooks, while schools can save money on infrastructure. Online learning platforms are becoming more and more popular in formal education and business training due to their cost-effectiveness.
Online learning platforms are becoming a more popular choice among corporations for staff development and training. These platforms are being used by businesses to provide training on a variety of subjects, such as leadership, technical skills, compliance, and soft skills. Software for online learning enables businesses to effectively upskill their personnel.
In an effort to increase access to education, several governments are funding projects and infrastructure related to online learning. Among these initiatives are internet connectivity, online course subsidies, and startup funding for educational technology. The market for online learning platforms and software is expanding due in large part to government funding, especially in developing nations.
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ONLINE LEARNING SOFTWARE AND PLATFORM MARKET SHARE ANALYSIS:
Major participants in the global online learning software and platform market, making up around 20% of the market, are Udemy, Coursera, Linkedin Learning, Udacity, McGraw-Hill, and others. With a market share of more than 38%, the Americas is the largest.
Products may be categorised into three categories: mobile, on-premises, and cloud. With a share of over 60%, cloud computing is the largest category.
It is extensively utilised in K–12, higher education, career training, and other fields. With nearly 48% of all applications, higher education is the most common.
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Key Players:
- Udemy
- Wileyplus
- Epignosis TalentLMS
- Tovuti
- Thinkific
- McGraw-Hill
- 360Learning
- Kajabi
- Skillshare
- LearnWorlds
- Pluralsight
- EdX
- Coursera
- Codecademy
- Future Learn
- Moodle
- LinkedIn Learning
- Masterclass
- UDACITY
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SIMILAR REPORTS
- Online Learning Software Market
- Smart Learning Software Market
- Children's English Online Learning Market
- Online Language Learning Software For Children Market
- The Learning Experience Platform (LEP) Software market is projected to reach US$ 1544.1 million in 2029, increasing from US$ 889 million in 2022, with the CAGR of 8.2% during the period of 2023 to 2029.
- Learning Management System (LMS) Software market is projected to reach US$ 2394.4 million in 2029, increasing from US$ 1415 million in 2022, with the CAGR of 7.8% during the period of 2023 to 2029.
- Online Learning Management System Market
- Language Learning Development Software Market
- Enterprise Online Learning Platform Market
- Training Management System Software market is projected to reach US$ 788.9 million in 2029, increasing from US$ 465 million in 2022, with the CAGR of 7.8% during the period of 2023 to 2029.
- The global corporate learning management system (LMS) market size is projected to reach USD 9296 Million by 2026, from USD 2136.9 million in 2019, at a CAGR of 22.8% during 2021-2027.
- Higher Education Learning Management Software Market
- Online Recruiting Software market is projected to reach US$ 4887.5 million in 2029, increasing from US$ 2529 million in 2022, with a CAGR of 9.9% during the period of 2023 to 2029.
- Online Proctoring Software and Platforms Market
- Online Community Management Software market is projected to reach US$ 1218.7 million in 2029, increasing from US$ 844 million in 2022, with a CAGR of 5.3% during the period of 2023 to 2029.
- Smart Education and Learning market size is projected to reach USD 730500 Million by 2027, from USD 281680 Million in 2020, at a CAGR of 14.1% during 2021-2027.
- Academic E-Learning market size was USD 5.67 Billion, with a CAGR of 12.4% during 2022-2028.
- Corporate E-Learning market size was valued at USD 22.5 Billion in 2021 and is forecast to reach size of USD 44.6 Billion by 2028 with a CAGR of 10.5% during the forecast period 2022-2028.
- Online Tutoring market size is projected to reach USD 278 Billion by 2026, from USD 150 Billion in 2020, at a CAGR of 10.82% during 2021-2027.
- K12 Tutoring market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
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