Online University Education - United Kingdom

United Kingdom

Highlights

Revenue in the Online University Education market is projected to reach US$9.74bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.56%, resulting in a projected market volume of US$13.53bn by 2028.
In the Online University Education market, the number of users is expected to amount to 1.0m users by 2028.
User penetration will be 1.1% in 2024 and is expected to hit 1.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$13.24k.
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 United Kingdom has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing demand for flexible and accessible education options.

Customer preferences: In today's fast-paced and digital world, customers are increasingly seeking convenience and flexibility in their education options. Online university education provides students with the opportunity to access high-quality education from the comfort of their own homes, at their own pace, and according to their own schedules. This flexibility is particularly appealing to working professionals, parents, and individuals who may not have the ability to attend traditional brick-and-mortar universities. Additionally, the advancements in technology have made online learning more interactive and engaging, further enhancing the appeal of online university education.

Trends in the market: One of the key trends in the Online University Education market in United Kingdom is the increasing number of partnerships between online education providers and traditional universities. This collaboration allows online education providers to leverage the reputation and resources of established universities, while traditional universities can expand their reach and offer a wider range of courses and programs. This trend has contributed to the growth of the market by increasing the credibility and recognition of online university degrees. Another trend in the market is the emergence of Massive Open Online Courses (MOOCs). MOOCs are online courses that are open to anyone and can be accessed for free or at a low cost. These courses have gained popularity due to their accessibility and the opportunity for individuals to learn new skills or explore new subjects without committing to a full degree program. Many online education providers in United Kingdom offer MOOCs as a way to attract potential students and showcase their expertise.

Local special circumstances: The United Kingdom has a strong reputation for its higher education system, with many prestigious universities and institutions. However, the cost of attending these universities can be prohibitive for many individuals. Online university education provides a more affordable alternative, making higher education more accessible to a wider range of people. Additionally, the United Kingdom has a large population of international students, who may choose online university education as a way to obtain a UK degree without having to relocate.

Underlying macroeconomic factors: The growth of the Online University Education market in United Kingdom is also influenced by macroeconomic factors. The increasing cost of living and tuition fees, coupled with the uncertain job market, has led many individuals to seek alternative education options that are more affordable and flexible. Additionally, advancements in technology and the widespread availability of high-speed internet have made online learning more accessible and appealing to a larger audience. Overall, the Online University Education market in United Kingdom is experiencing significant growth due to changing customer preferences, the increasing demand for flexible education options, and the affordability and accessibility of online learning. The partnerships between online education providers and traditional universities, the emergence of MOOCs, and the unique circumstances of the United Kingdom's higher education system have all contributed to the development of this 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.