The global 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. MOOC is a course with the option of free and open registration and is a publicly shared platform with open-ended groups. MOOCs integrate social networking and accessible online resources facilitated by leading practitioners in their respective fields of study. MOOC builds on the engagement of learners who self-organize their participation according to learning goals, prior knowledge and skills, and common interests. The need of the scalable and economical educational platform to cater to the need of learners across the globe is boosting the growth of the Massive Open Online Course Market at a high CAGR.
In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWeek, , have been referred to for identifying and collecting information for this study. The secondary sources included annual reports; press releases and investor presentations of companies; white papers, certified publications, articles by recognized authors; gold standard and silver standard websites; education and learning technology Research and Development (R&D) organizations; regulatory bodies; and databases.
Various primary sources from both supply and demand sides of the MOOC market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors providing the MOOC platform, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
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MOOC Market Size Estimation
For making market estimates and forecasting the market, and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global MOOC market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:
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With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall Massive Open Online Course Market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
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