Smart, Affordable Education is the Crux of the Global Massive Open Online Courses Market: TechNavio Report
“London, 23 July 2014: Prominent nations like the US, India, Brazil, the UK, and Spain are paving the way for a global boom in the Massive Open Online Courses (MOOCs) Market, which is expected to record a CAGR of 56.61 percent from 2013-2018, according to a new TechNavio report.
The independent tech-focused global research firm reports that the expansion of the market is due to rising interest in low-cost, high quality education, which enables aspirants to opt for a platform with reduced higher education expenses in contemporary scenario.
High cost leading students to turn to Online Learning
Extended and wide-reaching internet connectivity, escalating expenses of higher education, and the cumulative demand for highly trained workers have created a perfect storm for MOOCs worldwide, leading to a big increase in their popularity.
“In the US, the cost of a 4-year program from a public college has increased by more than 70 percent since 2000, while the average earnings of full-time workers with a bachelor’s degree has declined by approximately 15 percent over the same period,” says Faisal Ghaus, Vice President of TechNavio.
“Under such circumstances, MOOCs have gained increasing popularity since their inception in 2008.”
Soaring Education Expenses Have Accelerated the Demand for MOOCs
MOOCs provide free online courses for higher education, executive education, and employee development. These courses are provided by well-qualified lecturers from renowned institutes worldwide. Education is an important aspect for employment in today’s world but the rising costs, increasing student loan debts, and declining average pay of graduates have made it difficult for students to receive quality education. As a result, students are opting for MOOCs as these courses are of low cost and provide much better quality of education.
Emerging Trends in the Global MOOCs Market:
- Big Data Tools and Analytics
- Globalization of Quality Education
- Advanced Pedagogy
- Coursera Inc.
- Udacity Inc.
- Udemy Inc.
To shape a definite the scenario for the market in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Massive Open Online Courses Market 2014-2018, please send an e-mail tomedia@TechNavio.com.”