LONDON--(BUSINESS WIRE)--According to Technavio Research Report “Global Distance Learning Market by type (traditional distance learning and online distance learning) and geography (North America, Europe, APAC, MEA, and South America) is expected to grow by USD 90.37 billion, at a CAGR of 9% from 2019-2023”.
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Growing popularity of online microlearning to boost market growth
With rising digital literacy and increasing smartphone penetration, online microlearning has emerged as a popular methodology in the distance learning market. The increased use of bite-sized learning modules and short-term learning activities with a growing emphasis on personalization and adaptive learning will drive the market in the long run. Microlearning also offers concise and relevant content while helping to address the knowledge gaps among the students. Furthermore, colleges and universities are targeting a broader target audience by providing short-term certification programs in conjunction with their traditional degree programs. Therefore, with the growing number of higher education institutions adopting microlearning with their existing curriculum, the global distance learning market is anticipated to witness surging growth during the next few years.
Traditional distance learning will garner the highest share
Traditional distance learning is expected to garner the highest share of the market due to the growing popularity of executive education in emerging as well as advanced economies. Educational institutions in advanced and emerging economies are increasingly offering distance learning degrees along with the conventional courses. Distance education is also gaining traction among students owing to advantages such as easy accessibility, flexibility in terms of time and location, and affordability. Also, traditional distance learning is also cost-effective as compared to conventional regular degrees involving on-campus housing and boarding costs.
“The traditional distance learning market held the highest share during 2018 due to the increased enrolments from unconventional students, including working professionals. Furthermore, supportive government initiatives in both emerging and advanced economies will eventually increase the credibility of distance learning degrees in the forthcoming years,” says a senior research analyst at Technavio
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Distance learning to witness fastest adoption in the APAC region.
APAC will witness the fastest distance learning market growth in the forthcoming years. Factors including the growing internet penetration and increased number of distance online degree offerings in higher education institutions are positively impacting the distance learning market in the region. Some of the key markets for distance learning in the APAC region include India, China, Australia, and South Korea. The cost-effectiveness and flexibility of online degrees will further encourage students to enroll for the online distance learning degrees during the forecast period. Therefore, the rising number of smartphone users, coupled with increasing internet penetration, will boost the growth of the online distance education market in APAC in the upcoming years.
Few Major Players for the Distance Learning Market are:
- Arizona State University
- Aston University
- University of Exeter
- University of Missouri System
- University of Wisconsin System
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