Rockville, Jan. 19, 2023 (GLOBE NEWSWIRE) -- As per a new report by Fact.MR, a provider of market research and competitive intelligence, the global digital education content market is expected to hit a valuation of US$ 180 billion by 2033, advancing at a high-value 11.6% CAGR from 2023 to 2033
In recent years, the education industry has undergone a paradigm shift from traditional exam-oriented learning to individualized and interactive learning. As digitization continues to permeate the education industry, the most cutting-edge technology and novel and innovative strategies are being employed to offer knowledge and educational content, changing learning and growth into a lifelong process. Looking ahead, digital education is expected to serve a wide range of people across geographies, demographics, and socioeconomic conditions.
People's learning habits have shifted as a result of digital education. The interactive, high-quality, flexible, and collaborative learning offered by online learning platforms are especially driving the expansion of digital learning. Users can now take classes at their leisure, thanks to digital learning. As a result, many educational institutions now provide online learning to their students. Organizations are also using online training programs to train their staff and help them improve their skill sets. Digital education can also help overcome the limitations associated with traditional teaching methods, such as differences in pupils' learning speed.
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Education institutes have implemented digital learning to enhance the effectiveness of many procedures, such as tracking students, lowering operating expenses, and improving safety and security, all while offering information tools for teachers, students, administration staff, and researchers. To improve student outcomes, progressive educational institutions are eager to employ cutting-edge technology to revolutionize the learning environment and combine the physical and virtual worlds.
Key Takeaways from Market Study
- The global digital education content market is valued at US$ 60 billion in 2023.
- The market is set to reach a size of US$ 180 billion by the end of 2033.
- Worldwide demand for digital education content is predicted to expand rapidly at a CAGR of 11.6% during the study period (2023 to 2033).
- The K to 12 segment is estimated to evolve at 7.6% CAGR from 2023 to 2033.
- North America held 47% share of the global digital education content market in 2022.
“Proliferation of connected devices in the education sector, increased use of AI & ML in smart learning, and growing acceptance of e-learning solutions are primary factors driving global digital education content market expansion,” says a Fact.MR analyst.
Key Segments of Digital Education Content Industry Research
By Learning Type :
- Self-paced
- Instructor-led
By End Use :
- K to 12
- Higher Education
By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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Regional Analysis
North America is expected to dominate the global digital education content market during the forecast period. The rapid adoption of new technology and the existence of prominent digital education providers is driving the regional market expansion. Moreover, the United States is projected to make significant contributions to the North American market.
The need for digital education content is rapidly increasing, with companies ranging from early-stage start-ups to publicly listed companies. The market is attracting significant interest, not just from experienced industry professionals but also from general investors, particularly across the two major categories, namely, K to 12 and higher education. Each sector has distinct funding channels, end users, and buyers.
Competitive Landscape
Key players in the digital education content market are pursuing several strategic activities, including collaborations, acquisitions & mergers, and partnerships with other significant market players.
- Udemy collaborated with MultiChoice, Africa's premier entertainment provider, in December 2021 to provide users with access to a variety of high-quality online learning options. MultiChoice customers would then have access to high-quality courses in dozens of languages.
- edX joined with Meta, previously known as Facebook, in October 2021 to help train the next generation of creators, create immersive learning content, and expand access to devices across the metaverse.
- Pluralsight absorbed Next Tech, a provider of cloud-based computing environments, in January 2021. Pluralsight was able to improve its technological skills platform for customers by incorporating hands-on experiences directly into existing content.
Key Companies Profiled
- Adobe Inc
- Articulate Global, Inc
- Allen Interactions Inc
- Aptara, Inc
- City & Guilds
- Cengage Learning Holdings II, Inc
- Discovery Education
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global digital education content market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of learning type (self-paced, instructor-led) and end use (K to 12, higher education), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
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