Market Research Report
Digital Education Content
|Digital Education Content|
Published: July 1, 2022
Global Industry Analysts, Inc.
Content info: 262 Pages
Delivery time: 1-2 business days
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Global Digital Education Content Market to Reach $108 Billion by 2026
Digital learning has witnessed steady growth over the past decade, with the advent of the global COVID-19 pandemic providing a major fillip to the industry. COVID-19 along with a number of socioeconomic factors like increasing cost of higher education, lifestyles of modern learners and equitable access to education is poised to help digital learning in garnering considerable attention in the coming years. The education industry is leveraging advanced technology related to online learning for democratizing education, motivating learners and optimizing outcomes. The industry is also being transformed by increasing collaborations among e-learning companies, universities, colleges and governments to promote the idea of online education. Accessibility for online education becomes extremely imperative during the covid-19 pandemic crisis. In the evolving educational environment, several institutions are already using this education mode, while new technologies are being embraced and the requirement for institutions in prioritizing accessibility is becoming critical. Online education technology (EdTech) firms such as India`s BYJU`s have witnessed a surge in usage while companies such as Tencent, ByteDance and Alibaba in China and Lark in Singapore rolled out a range of educational delivery platforms. Local governments across the US have initiated partnerships with schools to deliver educational broadcasts while the BBC in the UK has initiated a similar campaign.
Amid the COVID-19 crisis, the global market for Digital Education Content estimated at US$70.9 Billion in the year 2022, is projected to reach a revised size of US$108 Billion by 2026, growing at a CAGR of 11.1% over the analysis period. K-12, one of the segments analyzed in the report, is projected to record 12.6% CAGR and reach US$61.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Higher Education segment is readjusted to a revised 9.8% CAGR for the next 7-year period. A large number of students in the US and other nations had been already participating in digital learning from K-12 virtual or online education. COVID-19 has considerably accelerated the transition and is expected to pave way for increasing reliance on virtual K-12 schooling in the coming years. The transition of higher education institutions toward the digital platform can be credited to several benefits, especially convenience and flexibility, which are expected to drive a large number of students to prefer online learning over the conventional classroom option.
The U.S. Market is Estimated at $27 Billion in 2022, While China is Forecast to Reach $19 Billion by 2026
The Digital Education Content market in the U.S. is estimated at US$27 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$19 Billion by the year 2026 trailing a CAGR of 13.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.1% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR. The e-learning market in developing regions is evolving into a dynamic growth sector as public universities, governments and local providers push into the market. There are several factors driving eLearning market in developing countries, for instance eLearning helps to decrease infrastructure costs and reduce expenditures e.g., cost on classroom space along with textbook purchase or rental leading to lesser education costs for people in developing nations. Increased adoption of cloud-based solutions is also expected to further create growth opportunities for eLearning in developing regions. The benefits of just-in-time training and promising ROI is expected to increase adoption of eLearning in corporate training in countries such as China, India and Brazil. In Middle Eastern countries, eLearning has witnessed growth due to government initiatives combines with efforts by private corporations and schools.
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