4 Major Global Online Education Market Trends to Watch
New educational vogues: Industries worldwide have upgraded themselves by investing in advanced technology and Education, and there is no exception. According to the latest market research report by CMI, a few of the growing educational sectors will be influenced by online learning and Educational technology, and the demand for digital upskilling is rising in the economy.
When looking for K-12 education choices, many families look beyond the old traditional public schools and look for more modern online Education, homeschooling, or charter schools. This trend came into action more when the COVID-19 pandemic hit, but alternate education models may continue to become more mainstream in the future.
- Proceeding of E-Learning
E-learning is currently the emerging educational trend in 2023. We all know that online classes have become a reality during the COVID-19 pandemic, but even now, e-learning remains more prominent. Currently, the global e-learning market is still on the verge of expanding. The market was worth an estimated $281 billion in 2022 and will reach $848.1 billion by 2030, rising at a reduced annual growth rate (CAGR) of 17.53%. As the demand for online Education grows, the market becomes more competitive.
- 2. Rise in wants for Edtech Tools
In addition, with the growth of e-learning, educational technology has expanded significantly. The online educational market wants to increase CAGR by 23% from 2022 to 2026. Different ranges of educational tools will be placed to upgrade classroom-level Education, including tablets, interactive whiteboards, software-based assessment tools, game-based learning tools, and virtual reality headsets. However, technology is a problem for teachers who are not used to it and can be a primary victim of a violation of data privacy and cyber fraud, which will affect long-term market growth.
- Importance of Digital Upskilling
The rise in demand for digital upskilling is an important shift in the education market. Recruitment for skilled employees is rapidly increasing with the pace of technological change. The need for practical learning experiences, such as coding boot camps, specialized training programs, and certification courses focusing on high-tech skills, can be acquired in months and will increase rapidly.
- Engrossment in Education Alternatives
The U.S. is among those countries that have seen an increase in charter schools, virtual schools, and homeschooling. Virtual schools also became more prominent during the pandemic, have played a significant role in the education system, and are continuing to do so even when COVID-19 is no longer the key factor driving societal changes. Many education alternatives will continue to gain wider acceptance soon. Homeschooling has remained at remarkably high pre-pandemic levels and has only dropped 17% in the 2021-2022 academic year. The backlash which it faces is the lower percentage of admissions in public schools.
Parents are not entirely happy with public schools, contributing to falling in public school enrollment. Parents’ dissatisfaction is for many reasons, including falling test scores, too many exams, favoritism, behavior, and attitude issues that negatively affect learning—safety fears, concerns about mental health and emotional well-being, and other essential factors.
Future manias in Education
Educational trends play an important role in shaping the industry’s bright future. As the industry continues to evolve, educators and businesses must stay updated with the recent developments to remain competitive and offer the best learning experiences to students.