Online Education Market Size, Share, Growth Analysis, By Learning Type(Self-Paced and Instructor-Led), By Component(Laptop, Mobile, PC), By Region - Industry Forecast 2024-2031

Global Online Education Market size was valued at USD 38.72 billion in 2022 and is poised to grow from USD 48.05 billion in 2023 to USD 270.32 billion by 2031, at a CAGR of 24.10% during the forecast period (2024-2031).

Global internet usage is rising, which will support industrial expansion. The burgeoning telecom and bandwidth industries have increased access to reasonably priced internet solutions. In order to satisfy the growing demand, many companies are focusing on offering specialised learning solutions. By 2028, we predict that more than 64% of all sales in the online education/e-learning sector would be made up of hardware. The digitization of education has increased the usage of cutting-edge hardware computing technologies in the educational process, including smartphones. Due to its better interoperability with different software solutions including assessment tools, apps, and games, tablets are predicted to be the device that is utilised in education the most. Nearly 300 million people, according to GSMA Intelligence, made their first internet connection. According to a GSMA report titled "State of the Mobile Internet Connectivity - 2022," 4.3 billion people would have access to mobile internet by the end of 2022, an increase of about 300 million customers/users. The recession, among other causes, caused funding to dry up for startups, which led to workforce reductions at digital education companies, which were the most severely impacted of all startups. One-third of individuals employed in the digital education sector, or approximately 10,000 workers, were let go by Indian startups between July 2022 and March 2023. End consumers are embracing online learning more frequently as a result of the availability of free information, and ed-tech companies see this as a new potential to make money. For instance, since making content freely available, BYJU, one of the most valuable Edtech start-ups in India, has added 7.5 million new users to its platform.