Online learning has shown significant growth over the last decade, as the internet and education combine to provide people with the opportunity to gain new skills. Since the COVID-19 outbreak, online learning has become more centric in people’s lives. The pandemic has forced schools, universities, and companies to remote working and this booms the usage of online learning. Even before the pandemic, Research and Markets forecasts the online education market as $350 Billion by 2025, so the numbers might be updated after analyzing the growth impacts of COVID-19 on the online learning market.
About the market
There are numerous online learning platforms in the market such as Udemy, Coursera, Lynda, Skillshare, Udacity that serve millions of people. The platforms are getting shaped by different user verticals as well. While Skillshare is mostly for creatives such as giving courses on animation, photography, lifestyle, Coursera is mostly academic with giving access to university courses.
Top tier universities are also democratizing the learning by making courses accessible via online. Stanford University and Harvard University give access to online courses under categories of computer science, engineering, mathematics, business, art, and personal development.
These all show one thing, there’s a huge demand from people to learn online. The reason for this demand and rapid growth of the market with a wide variety of platform options for different groups of people may be the rapid change of the world. At the recent $50 Million round of Udemy, president Darren Shimkus says, “The biggest challenge is for learners is to figure out what skills are emerging, what they can do to compete best in the global market. We’re in a world that’s changing so quickly that skills that were valued just three or four years ago are no longer relevant. People are confused and don’t know what they should be learning.” At this moment, online learning is becoming a huge catalyzer for people and companies to help the adoption of this rapid change in the world.