According to Stratistics MRC, the “Global Distance Learning Market” is accounted for $90.37 billion in 2018 and is expected to reach $227.45 billion by 2027 growing at a CAGR of 10.8% during the forecast period. Some of the key factors propelling the market growth include technological advancements in the education sector, increase in the number of distance learning enrolments, increasing acceptance of non-conventional credentials, and easy accessibility, flexibility in terms of time and location. However, lesser instructor-student interaction and lack of guidance are the restraining factors for the growth of the market.
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Distance education refers to the teaching mode using the Internet, TV, and other communication media. Distance learning is also called e-learning, distance education, and online learning, the form of education in which the main elements include physical separation of teachers and students during instruction and the utilization of various technologies to facilitate student-teacher and student-student communication. The distance learning has focused traditionally on non-traditional students, including military personnel, full-time workers, and individuals, nonresidents, or in remote regions that are unable to attend classroom lectures. With the development of Internet technology and the increasing popularity of senior executive education in emerging markets and advanced economies, distance learning courses have become the most popular choice for students seeking advanced learning and flexible degree format.
Opportunity: Technological advancements in the education sector would provide ample opportunities for market growth.
Due to technological advances, a great deal of hope and excitement has been generated for the use of distance learning in the field of education. The major advancements in the education sector such as e-learning, m-learning, and blended learning have led to an increase in the number of distance learning enrollments thus providing opportunities for the distance learning market. The growing advancement in technology in the field of education has introduced a variety of new techniques for educators and learners to enhance knowledge. The technological advancements majorly in ICT allow teachers to employ various strategies that could actively engage student's interest. Educational technologies more likely the information and communication technology are replacing direct teacher-student interaction. Growing advancements in telecommunications and computer capabilities have made the development of learning modules possible. This includes elements such as video transmission, internet, World Wide Web, e-mail, thus creating opportunities for the growth of distance learning market.
Driver: The increased demand for distance learning in higher education institutions is driving market growth.
This increasing number of distance learning enrolments for higher education will fuel the growth of the market during the forecast period. Distance learning programs have emerged as the most popular option for students who are pursuing advanced studies and seek flexible formats for degree programs. The growing use of bite-sized learning modules and short-term learning activities with a growing emphasis on personalization and adaptive learning will drive the growth of the market in the long run. With increasing digital literacy and increasing smartphone penetration, online micro-learning has emerged as a popular methodology in the distance learning market.
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Distance-learning also offers concise and relevant content while helping to address the knowledge gaps among the students. Moreover, universities and colleges are targeting a broader target audience by providing short-term certification programs in conjunction with their traditional degree programs. Hence, with the increasing number of higher education institutions adopting distance learning along with their existing curriculum, the global distance learning market is anticipated to witness surging growth.
North America region is anticipated to hold considerable market share during the forecast period:
By geography, the growth of the distance in North America can be attributed to several factors such as the increasing enrolments in distance learning degrees, and the advantages of distance learning such as easy accessibility, flexibility, and affordability.
Some of the key players in distance learning market include Avagmah, DLP India, Edureka, EMERITUS Institute of Management, University of Delhi, UpGrad, EduKart, Indira Gandhi, National Open University (IGNOU), Hughes Global Education, Sikkim Manipal University, TalentEdge, University18, Arizona State University, SchoolGuru, Symbiosis Centre for Distance Learning (SCDL), University of Exeter, Aston University, University of Missouri System, and University of Wisconsin System.
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Edureka: In July 2017, Edureka has taken a vital step forward in reaffirming its commitment to technology up-skilling, by announcing the launch of its new Masters Program. The new program enables global learners to acquire future-proof skills through a repertoire of online courses, hand-picked by industry professionals and aimed at unlocking lucrative technology careers.
EduKart: In January 2016, EduKart has partnered with Ola. EduKart will provide end-to-end assistance, guidance and also facilitate admissions for drivers and their family members at leading partner colleges. As part of the program, EduKart will also assist in availing scholarship and discounts on fees to family members of Ola drivers.
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