The global massive open online courses market size will witness notable growth on the back of the rising adoption of machine learning and AI. Organizations have upped investments in employee development and engagement programs. The massive open online courses (MOOC) industry is expanding robustly, driven by venture capitalists and universities seeking to inject funds into the course.
Massive open online courses leverage participants unrestricted and mostly free access to a course of their choice. The online course also offers a platform and interactive forum with custom e-learning modes encouraging self-paced learning. The materials are generally developed through collaboration and online discussions among learners taking the course globally. Teaching comprises videos, lectures, reading materials, and responses on the interactive forum. The rising expansion of the online master’s degree and bachelor’s programs for individuals seeking to complete or boost their education will augur well for the industry growth.
Junior High School; Post Graduate; Corporate; Under Graduate; High School
Business Management; Computer Science & Programming; Science; Sociology & Philosophy; Humanities; Education & Training; Healthcare & Medicine; Others
North America; Europe; Asia Pacific; Latin America; MEA
An uptick in the number of universities offering free online courses has encouraged individuals to seek MOOC platforms. For instance, in January 2022, Class Central noted that more than 900 universities globally have rolled out free online courses. Moreover, the COVID-19 pandemic prompted students to sign up for MOOCs. According to Class Central’s 2021 report, 60 million new learners signed up for at least one MOOC in 2020. Besides, around 220 million learners signed up for MOOCs (barring China) in 2021.
In terms of component, the MOOC platform segment will gain considerable traction with a rising footfall of xMOOCs and cMOOC. Prominently, xMOOCs tend to bank on video resources and offer automated assessments, including uniquely designed platform software providing facilities for streaming and storing digital materials on-demand. Furthermore, cMOOCs have gained immense popularity owing to increased interactivity.
Industry participants expect individuals at the corporate level to inject funds into massive open online courses across the U.S., the U.K., India, and Brazil, among others. Robust implementation of MOOC platforms for professional certification, training, and development to boost the company’s brand value will propel providers to emphasize corporate students.
Business management courses have become trendier for individuals seeking jobs in corporate finance, logistics, cost management techniques, and logistics. The growing prominence of entrepreneurship, marketing, strategy, and leadership will encourage students to prioritize business management courses. With MOOCs becoming part of the education system across North America and the Asia Pacific. Class Central claimed that business and technology accounted for 40% of all the courses in 2021.
North America could remain dominant in the global massive open online courses market following the rising footfall of service providers across the U.S. and Canada. To illustrate, in January 2020, EdX introduced MicroBachelors which enables individuals to explore an academic topic. It is worth mentioning that 2U acquired EdX for around USD 800 million in 2021. North America will continue to witness traction for advanced technologies, such as AI, data analytics, and machine learning.
Industry players envisage Asia Pacific to emerge as a favorable investment hub for MOOC providers. In March 2022, the Ministry of Education of China reportedly introduced the Smart Education of China initiative and rolled out Chinaooc website with MOOC platforms. Besides, in April 2022, the All India Council for Technical Education (AICTE) announced the development of MOOCs for SWAYAM on emerging technologies, such as blockchain, AI, nanotechnology, data analytics, mixed reality, quantum computing, innovation sustainable development, and Indian Knowledge systems, among others. The Asia Pacific is poised to provide promising opportunities as mobile-based and web-based interactive e-content gains traction across the region.
Leading companies could expand their offerings to bolster their market penetration across untapped areas. Specifically, in January 2022, Coursera joined hands with National Institute for Lifelong Education (NILE) and K-MOOC to introduce upskilling programs for 200,000 learners in South Korea. In January 2021, FutureLearn rolled out subscription-based ExpertTracks akin to Coursera’s Specializations.
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