Online University Education - Americas

Americas

Highlights

Revenue in the Online University Education market is projected to reach US$89.90bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.59%, resulting in a projected market volume of US$148.70bn by 2029.
In the Online University Education market, the number of users is expected to amount to 17.8m users by 2029.
User penetration will be 1.3% in 2024 and is expected to hit 1.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$7.99k.
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.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online University Education market in Americas is experiencing significant growth due to changing customer preferences and the increasing demand for flexible and accessible education.

Customer preferences: Customers in the Americas are increasingly looking for flexible and convenient ways to pursue higher education. Online university education provides the flexibility to study at their own pace and from anywhere, making it an attractive option for working professionals, busy parents, and individuals who cannot attend traditional brick-and-mortar universities. Additionally, online education allows students to access a wide range of courses and programs that may not be available locally, expanding their options and opportunities for career advancement.

Trends in the market: One of the key trends in the Online University Education market in Americas is the rising popularity of Massive Open Online Courses (MOOCs). MOOCs offer free or low-cost online courses from top universities and institutions, allowing individuals to gain knowledge and skills without the need for formal enrollment or accreditation. This trend has democratized education and made it more accessible to a wider audience, leading to increased enrollment in online courses. Another trend in the market is the growing adoption of online degree programs by traditional universities. Many prestigious universities in the Americas are now offering online degree programs, recognizing the demand for flexible education options. This trend has further boosted the credibility and acceptance of online university education, attracting more students to pursue online degrees.

Local special circumstances: The Americas is a geographically diverse region with varying levels of access to education. In some remote or underserved areas, traditional universities may be limited in their reach, making online education a valuable alternative. Online university education allows individuals in these areas to access quality education without the need to relocate or commute long distances.

Underlying macroeconomic factors: The growing demand for online university education in the Americas can be attributed to several underlying macroeconomic factors. The region has a high demand for skilled professionals in various industries, and online education provides a convenient way for individuals to acquire the necessary skills and qualifications. Additionally, the increasing adoption of technology and internet connectivity in the Americas has made online education more accessible to a larger population. Furthermore, the COVID-19 pandemic has accelerated the growth of the Online University Education market in Americas. The closure of traditional educational institutions and the need for social distancing have forced students to turn to online platforms for their education. This has led to a surge in online course enrollment and a greater acceptance of online education as a viable alternative to traditional classroom learning. In conclusion, the Online University Education market in Americas is experiencing significant growth due to changing customer preferences, the rising popularity of MOOCs, the adoption of online degree programs by traditional universities, local special circumstances, and underlying macroeconomic factors. The convenience, flexibility, and accessibility offered by online education have made it an attractive option for individuals seeking higher education in the region.

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.