Massive Open Online Course Market: - An Overview
A Massive Open Online Course (MOOC) is an online course aimed at unlimited participation and open access via the web. In addition to traditional course materials, such as filmed lectures, readings, and problem sets, many MOOCs provide interactive courses with user forums or social media discussions to support community interactions among students, professors, and teaching assistants, as well as immediate feedback to quick quizzes and assignments.
As MOOCs developed with time, multiple conceptions of the platform seem to have emerged. Mostly two different types can be differentiated: those that emphasize a connectivity philosophy, and those that resemble more traditional courses.
Impact of COVID-19 Pandemic Outbreak on Massive Open Online Course Market
COVID-19 is here to stay. It has affected all aspects of our lives, and the education sector is no exception.
The current situation has forced a revolution in the education sector, the widespread adoption of digital technology that can not only cater to the current pandemic, but is also important when aiming to provide quality training.
Historically, the market for massive open online course has grown by almost 25%-30% globally in the past 5 years. In 2019, the total value of massive open online course is estimated to be nearly US$ 4 Bn globally.
Due to the COVID-19 outbreak, adoption for massive open online course is estimated to increases by nearly 15%-18% in Q2-Q3 2020, as Big Data, AI and ML tools can have a big role in the development of a technology-driven era of higher education.
Massive Open Online Course Market: - Market Dynamics
Need for Scalable Open Education is driving the growth of Massive Open Online Course Market
Massive Open Online Course did impress with their massive reach and the potential for testing innovations within the educational ecosystem. However, some experts believe that MOOCs are not innovative and implement norms of existing classroom education. However, MOOC refers to all online courses that are open, free and have participant numbers beyond traditional courses.
Therefore, it provides an alternative view on learning at scale that takes a more holistic approach to scalability and includes quantitative aspects of education (delivery at low cost) but also qualitative aspects regarding the complexity of educational processes and instructional design choices which drives the demand for the massive open online course market.
Increasing Requirement for Global Corporate Training
Today more than ever, companies need to maximize their human capital by providing the right skills at the right time for the right people. Embracing the right level of IT training, enablement and engagement can dramatically reduce attrition and safeguard the investment made in hiring.
Innovative and engaging learning solutions today are on-demand, fast to absorb, and available on mobile devices. The employees now demand a personalized, digital learning experience that feels productive and effective for corporate training and development needs.
Lack of Accountability and Accreditation is slowing the Growth of Massive Open Online Course Market
MOOCs reaching the mainstream has to do with accountability. It is difficult in an online environment to assure that cheating isn’t happening.
The risk of cheating goes up when courses become more valuable to learners, either because they result in university credit or because employers use them when making hiring decisions. However, these kinds of incentives are precisely what are required to ensure that MOOCs remain on the scene long term.
To solve the problem of cheating, a variety of technology-based solutions, including remote proctoring by humans, and even using the student’s computer microphone and camera to make random recordings during exams which can be a restraint for the market.
Massive Open Online Course Market: Key Players
Key players in the massive open online course market are focusing on new product launches and product upgradations & partnerships and collaborations with the other players to increased productivity and sustained business growth.
The major players offering massive open online course include
- Federica EU
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global massive open online course market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with massive open online course market attractiveness as per segments. The report on massive open online course market also maps the qualitative impact of various factors on massive open online course market segments and geographies.
Massive Open Online Course Market : Report Highlights:
- A detailed overview of parent market of massive open online course market
- Changing massive open online course market dynamics in the industry
- In-depth segmentation of the massive open online course market
- Historical, current, and projected massive open online course market size by value
- Recent industry trends and developments in massive open online course market
- Competitive landscape of the massive open online course market
- Strategies for key players in massive open online course and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on massive open online course market performance
- Must-have information for massive open online course market players to sustain and enhance their market footprint
Massive Open Online Course Market Segmentation
- Extended Massive Open Online Course (xMOOC)
- Connectivist Massive Open Online Course (cMOOC)
- Training and Support
- Computer Science and Programming
- Business Management
- Health and Medicine
- Education and Training
Market Research Methodology - Perfected through Years of Diligence
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