Online Education - Norway

Norway

Revenue in the Online Education market is projected to reach US$78.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.73%, resulting in a projected market volume of US$130.60m by 2029.
The Online Learning Platform market has a projected market volume of US$50.11m in 2024.
In global comparison, most revenue will be generated in the United States (US$87.51bn in 2024).
The average revenue per user (ARPU) in the Online Education market is projected to amount to US$82.87 in 2024.
In the Online Education market, the number of users is expected to amount to 1,318.0k users by 2029.
User penetration in the Online Education market will be at 17.2% in 2024.

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Analyst Opinion

The Online Education market in Norway is experiencing significant growth and development.

Customer preferences: Norwegian customers are increasingly turning to online education as a convenient and flexible way to acquire new skills and knowledge. The availability of a wide range of courses and programs from top universities and institutions around the world is a major draw for customers. Additionally, the ability to learn at their own pace and on their own schedule is highly appealing to busy professionals and individuals with other commitments. The convenience of online education allows customers to access high-quality education from the comfort of their own homes, eliminating the need for travel and reducing costs.

Trends in the market: One of the key trends in the Norwegian online education market is the growing popularity of lifelong learning. Customers are recognizing the importance of continuously updating their skills and knowledge in order to stay competitive in the job market. Online education provides an accessible and affordable way for individuals to acquire new skills or enhance existing ones. This trend is particularly evident in industries that are rapidly evolving, such as technology and digital marketing, where professionals need to constantly stay up to date with the latest trends and developments. Another trend in the market is the increasing demand for specialized courses and programs. Customers are seeking out niche topics and specialized skills that are not typically offered in traditional educational institutions. Online education platforms are able to cater to these specific needs by offering a wide range of courses on diverse subjects. This trend is driven by the desire for individuals to differentiate themselves in the job market and stand out from their peers.

Local special circumstances: Norway has a highly educated population with a strong emphasis on lifelong learning. The country has a well-established education system and a culture that values knowledge and personal development. This provides a fertile ground for the growth of the online education market. Additionally, the high level of internet penetration and digital literacy in Norway makes online education easily accessible to the population.

Underlying macroeconomic factors: The Norwegian economy is characterized by a strong focus on innovation and technology. The country has a thriving startup ecosystem and a high demand for skilled professionals in sectors such as technology, engineering, and finance. The online education market in Norway is benefiting from this demand, as individuals seek to acquire the skills and knowledge necessary to succeed in these industries. Furthermore, the COVID-19 pandemic has accelerated the growth of the online education market in Norway. The lockdown measures and social distancing restrictions have forced educational institutions to shift to online learning, leading to an increased acceptance and adoption of online education among students and professionals. This shift is likely to have a long-lasting impact on the market, as individuals and institutions recognize the benefits and convenience of online education. In conclusion, the Online Education market in Norway is experiencing significant growth and development due to customer preferences for convenience and flexibility, as well as the increasing demand for lifelong learning and specialized skills. The local special circumstances, such as the highly educated population and the emphasis on personal development, further contribute to the growth of the market. Additionally, underlying macroeconomic factors, such as the focus on innovation and the impact of the COVID-19 pandemic, are driving the growth of the online education market in Norway.

Methodology

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.