What is the most recent global market size for continued/adult education?
According to Global Industry Analysts, the global market size of e-Learning was estimated to be about $107 billion in 2015 and will grow at a rate of 11.96% CAGR over 10 years, to a market size of $325 billion. Despite an extensive search, we were unable to find or estimate the market size for offline continuous adult education.
According to Eurostat, Adult Learning is described as the participation of adults aged, 25-64 in lifelong learning, where lifelong learning means improving one's skill, competence or knowledge using formal, informal and non-formal methods of learning on a continuous basis. Based on this definition, we have further carried on our research.
According to UNESCO report, out of 126 countries, 75 countries reported an increase in the participation of adults in lifelong learning with the highest increase reported by European countries.
It is also interesting to know that an increased participation is seen in the lower income groups mostly due to government initiatives. The adult education sectors are stronger currently in the developed countries due to both higher aging population, greater opportunities for learning, better technology access and higher spend on education.
According to Forbes, in the USA, the adult learning services market, both online and offline, as of 2016 is about $10 billion. Also, Forbes estimates that about 32 million adults will be the market size estimate, in number of people who could be the new consumers of adult education. In Europe-28, about 10.8% of the population in age group 25-64 participated in adult education. This comes to approximately, 29.84 million adults given that about 55% of the European population of 511 million falls into the age group of 25-64. The Middle East and Asian countries like India and China will be the hot-bed for growth in continuous education due to the growing older population, rising middle-class and expanding learning opportunities.
The e-Learning market continues to grow at a fast pace with an estimated market size of $107 billion in 2015 and is projected to reach $325 billion in 2025 which is a CAGR rate of about 11.96% (calculated using CAGR calculator, with initial value as 2015 figure of $107 billion, final value as $325 billion and number of periods as 10, 2015-2025).
Within the e-Learning market, the self-paced e-learning segment including MOOCs, was estimated to be about $49 billion in 2015 with the highest growth rates registered by countries like India and China.
The estimated market size of MOOCs, as of 2016 was $2 billion and is projected to quadruple and reach $8 billion in market size by 2022. The growth is mainly driven by Video as a preferred medium for learning. North America is the biggest market for MOOC followed by Asia-Pacific and Europe in the decreasing order of market size.
1. The estimated market size of e-learning globally is about $107 billion as of 2015 and is projected to reach $325 billion by 2025.
2. Developed countries are the major markets for adult education dues to access to learning opportunities, access to technology and government spend on education.
3. The MOOCs market globally is estimated to be about $2 billion.