The global digital education market size was US$ 11.2 billion in 2021. The global digital education market is forecast to grow to US$ 149 billion by 2030, registering a compound annual growth rate (CAGR) of 28.1% during the forecast period from 2022 to 2030.
Factors Influencing the Market Growth
The prominent technologies, such as Augmented Reality (AR), are expected to change the outlook of the digital education market. AR boosts the real environment by offering advanced services, such as text, sound effects, graphics, and multimedia. As a result, it will fuel the growth of the global digital education market.
The increasing trend of microlearning is forecast to benefit the global digital education market. Microlearning is the e-learning process, mainly in the small segments, to help individuals achieve their goals.
The rising adoption of smartphones and smart devices is forecast to fuel the growth of the market. In addition, rising internet penetration globally is forecast to benefit the global digital education market during the study period.
The advancements in technologies are forecast to fuel the growth of the digital education market. In addition, the introduction of efficient platforms, such as LMS will bolster market growth.
Online education is convenient, cost-effective, and sharpens learning skills. The growing awareness about the benefits of online education will accelerate the growth of the digital education market during the forecast period.
However, lack of social interaction may hamper the growth of the global digital education market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic had a positive impact on the global digital education market. The demand for online platforms increased significantly. Earlier, digital education was only popular among the students pursuing higher class education. However, the sudden onset of the pandemic has raised the necessity to adopt remote methods in order to continue the tasks. As a result, schools, institutions, universities, and other segments adopted digital learning solutions in order to offer online learning to the students without the risk of COVID-19.
Regional Analysis
North America is forecast to hold the highest share in the global digital education market, owing to the increasing penetration of advanced technologies and the growing number of advancements. In addition, rising government initiatives and collaborations between digital education vendors and research specialists are forecast to benefit the regional digital education market during the study period. Furthermore, the increasing number of students pursuing education will escalate the growth of the regional market during the forecast period.
Competitors in the Market
Market Segmentation
The global digital education market segmentation focuses on Components, Services, Learning Type, End-Users, and Region.
By Component:
By Services:
By End Users:
On the basis of Region
