Key regions: United States, China, Asia, Japan, Germany
The Online Education market in BRICS is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the BRICS countries are shifting towards online education due to several reasons. Firstly, the convenience and flexibility offered by online education platforms allow individuals to learn at their own pace and schedule. This is particularly appealing to working professionals and individuals with busy lifestyles. Secondly, the wide range of courses and programs available online cater to diverse interests and educational needs. From language learning to professional certifications, online education platforms offer a plethora of options. Finally, the increasing adoption of technology and digital devices in the BRICS countries has made online education more accessible to a larger population. Trends in the market further support the growth of online education in BRICS. One key trend is the rising demand for upskilling and reskilling. As the job market becomes more competitive and industries evolve, individuals are seeking opportunities to acquire new skills and stay relevant. Online education provides a convenient and cost-effective way to acquire these skills, making it an attractive option for many. Additionally, the COVID-19 pandemic has accelerated the adoption of online education as traditional educational institutions shifted to remote learning. This shift has not only increased awareness and acceptance of online education but also highlighted its advantages in terms of safety and continuity of learning. Local special circumstances also contribute to the growth of the online education market in BRICS. In countries like Brazil and India, where access to quality education is a challenge in certain regions, online education bridges the gap by providing access to high-quality courses and programs. Furthermore, the large population in these countries presents a significant market opportunity for online education providers. In Russia and China, the government's focus on promoting digital literacy and lifelong learning has created a favorable environment for online education to thrive. Underlying macroeconomic factors also play a role in the development of the online education market in BRICS. Rapid urbanization, increasing disposable incomes, and a growing middle class contribute to the demand for online education. As more individuals move to urban areas and experience improved living standards, they are more likely to invest in their education and seek opportunities for personal and professional growth. Additionally, the BRICS countries are witnessing a digital transformation across industries, which further drives the demand for digital skills and online education. In conclusion, the Online Education market in BRICS is witnessing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience and flexibility of online education, coupled with the increasing demand for upskilling and reskilling, are driving the adoption of online education platforms in the BRICS countries. The favorable market conditions, such as increasing digital literacy and government support, further contribute to the growth of the online education market in BRICS.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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