The global Massive Online Open Source (MOOC) market size is expected to grow from USD 3.9 billion in 2018 to USD 20.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 40.1% during the forecast period. Major growth factors for the market include an increasing need for scalable open education, global training, and cost-effective education platforms.
The MOOC market comprises major platform providers, such as Coursera (US), edX (US), Pluralsight (US), Edureka (India), Alison (Ireland), Udacity (US), Udemy (US), Miríadax (Spain), Jigsaw Academy (India), Simplilearn (US), iversity (Germany), Intellipaat (India), Edmodo (US), FutureLearn (UK), LinkedIn (US), NovoEd (US), Open2Study (Australia), WizIQ (India), Skillshare (US), XuetangX (China), Federica (Italy), Linkstreet Learning (India), Khan Academy (US), and Kadenze (Spain).
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The study includes in-depth competitive analysis of key players in the MOOC market with their company profiles, recent developments, and key market strategies. Leading players in the market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations, partnerships, agreements, and collaborations, have been major strategies adopted by the key players from 2016 to 2018, which have helped them innovate on their offerings and broaden their customer base.
Coursera is among the leaders in the MOOC market. The company has a balanced growth strategy in the market, including strategic alliances with the universities, educational institutes, governments, NGOs, and other MOOC platform and service providers diversifying Coursera’s MOOC product portfolio and increasing the company’s market reach. For instance, in May 2018, Coursera partnered with Goldman Sachs Foundation, an investment bank and financial services provider, to help Goldman develop an online business education program, namely, 10,000 Women, for women entrepreneurs.
LinkedIn provides a wide range of MOOC offerings through its platform, Lynda.com, which can be accessed through LinkedIn Learning. The platform offers over 13,000 digital courses and content libraries in languages such as German, French, Spanish, and English. The courses are designed by individual authors and are taught by industry experts under various categories, such as software development, design, web development, and business photography. The company has been expanding the market presence through business expansions, partnerships and agreements, and diversifying its product portfolio through technology acquisitions and new product launches. In October 2018, LinkedIn added more than 100 courses, covering IT security, data science, marketing, and sales on its LinkedIn Learning platform, which were designed by individual authors.
MOOC Market by Component (Platforms (XMOOC and CMOOC), Services), Course (Humanities, Computer Science and Programming, and Business Management), User Type (High School, Undergraduate, Postgraduate, and Corporate) and Region - Global Forecast to 2023
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