Government Initiatives and Technological Developments are Advancing Online Education
Online learning is considered as one of the main catalysts for personalized education that enables the next-generation of teaching-learning models to bring transformation in the educational ecosystem. This method helps to empower students with a vast horizon of learning content.
With the help of online education system, education providers are now able to provide the higher education such as graduation, post-graduation to the remote areas. Or students can also now continue their education while doing job or some corporate employees also want to re-skill themselves for better career opportunities.
These are the reasons that demand for online education is increasing day-by-day. According to the research report published by The Insight Partners, the global online program management market is predicted to reach at US$ 11,986.4 Million by 2027 with a CAGR of 15.4% from period 2020 to 2027. The major stakeholders in of this market ecosystem are universities and learning institutions, online program management service providers and student/end-user.
Director of a leading online program management firm in the U.S. explained, “Online program management is popular among several institutions owing to the different financial models available such as revenue share, hybrid, and the fee of service. Hybrid online program management provides both a full-service, traditional service, traditional revenue share model and fee-for-service model.”
To reach the rising demands, many companies are providing various need-wise solutions to the education institutes. And these processes in the online program management market are creating competition currently. Some major companies such as 2U Inc., Academic Partnerships, Apollidon, Bisk Education, Inc., and Blackboard Inc. etc. are already active in the market.
Plus, many companies are adopting merger & acquisition strategy to expand their business worldwide and meet the growing demand. For example, in January, John Wiley & Sons, Inc., announced the acquisition of mthree from ECI Partners LLP. mthree is an education services provider that addresses the IT skills gap by finding, training and placing job-ready technology talent in roles with leading corporations worldwide.
On the occasion, Brian Napack, President and CEO of Wiley stated, “Wiley is committed to bridging the gap between education output and industry need. The acquisition of mthree advances Wiley’s leadership in powering the high-demand, high-potential careers that are fueling the global knowledge economy. CEO Alex Headley and his team have built a great company with extremely high customer and client satisfaction -- mthree is putting people in great IT jobs with great companies, and these people are succeeding. We are very pleased to welcome them to the Wiley family.”
Internet and technological advancements have huge potential to improve the quality of education and that’s why these factors play very important role for market’s sustainable development. The user-friendly infrastructure is essential for teachers and students to use the content available on internet.
But many rural areas situated in the developing countries still face issues regarding the connectivity and broadband networks or some people are not able to afford the infrastructure. So, these issues may hold back the market growth. So, considering the situations and market demands, government bodies of different countries must focus on establishing legal and regulatory frameworks. Ultimately it will encourage players to invest in the market to overcome the limitations including consideration of new infrastructure models, establishments of international connectivity in local and national networks, enrichment of content infrastructure and internet facilities.
It has been observed that a large number of campuses around the globe are rapidly adopting various technologies from high-tech classrooms to Wi-Fi enabled campuses. To implement active learning in the curriculum, some universities/colleges/educational institutes are installing technological systems in their system. But many instructors are seen concerned about the impact of internet-enabled devices—laptops and phones—in their classrooms.
Research demonstrates that these devices divide student's attention in class. To overcome the situation, Macmillan Learning's came with a new Focus feature in iClicker. It helps students to manage the distractions that divide their attention while maintaining active learning in class.
"Instructors teach to cultivate learning and spark curiosity in students. With the new Focus setting, we wanted to create an environment that allowed students to self-reflect with insights about how and when they get distracted during class. Our research shows that students like using the focused sessions, and we know it is making a difference for them by their better grades", said Steven Ray, Vice President, Institutional of Macmillan Learning.
However, impact of non-accredited degrees and fraudulent is anticipated to hinder the market in the coming years. But as per the analysis of same report of The Insight Partners, rising acceptance of online education in Sub-Saharan Africa and South Asia is projected to have a positive impact on growth of the market in the future.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.