Online University Education - Greece

Greece

Highlights

Revenue in the Online University Education market is projected to reach US$102.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.34%, resulting in a projected market volume of US$151.20m by 2028.
In the Online University Education market, the number of users is expected to amount to 166.3k users by 2028.
User penetration will be 1.1% in 2024 and is expected to hit 1.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$870.10.
In global comparison, most revenue will be generated United States (US$82.30bn in 2024).
With a projected rate of 2.3%, the user penetration in the Online University Education market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online University Education market in Greece has been experiencing significant growth in recent years.

Customer preferences: Customers in Greece are increasingly turning to online education as a flexible and convenient way to further their education. The ability to study from anywhere at any time is particularly appealing to individuals who are working or have other commitments. Additionally, online courses often offer a wider range of subjects and specializations than traditional universities, allowing students to tailor their education to their specific interests and career goals.

Trends in the market: One of the key trends in the Online University Education market in Greece is the increasing popularity of Massive Open Online Courses (MOOCs). These courses are typically offered by prestigious universities and are available to anyone with an internet connection. MOOCs provide a cost-effective way for individuals to gain knowledge and skills in a wide range of subjects. They are particularly attractive to individuals who are looking to upskill or reskill in order to improve their job prospects. Another trend in the market is the emergence of online degree programs offered by traditional universities. These programs provide students with the opportunity to earn a degree entirely online, without the need to attend physical classes. This flexibility is especially appealing to individuals who are unable to relocate or commit to full-time, on-campus study.

Local special circumstances: The economic crisis in Greece has had a significant impact on the higher education sector. Many individuals are unable to afford the high tuition fees associated with traditional universities and are turning to online education as a more affordable alternative. Additionally, the high levels of unemployment in Greece have created a demand for online education as individuals seek to improve their job prospects.

Underlying macroeconomic factors: The economic crisis in Greece has resulted in budget cuts to the education sector, leading to a decrease in the number of available places at traditional universities. This has created a demand for online education as individuals are unable to secure a place at a physical university. Additionally, the high levels of unemployment in Greece have led to a greater emphasis on skills development and lifelong learning, further driving the demand for online education. In conclusion, the Online University Education market in Greece is experiencing growth due to customer preferences for flexibility and convenience, as well as the need for affordable education options in light of the economic crisis. The emergence of MOOCs and online degree programs, along with the underlying macroeconomic factors, are driving the development of the market.

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.