Online University Education - ASEAN

ASEAN

Highlights

Revenue in the Online University Education market is projected to reach US$1.02bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.29%, resulting in a projected market volume of US$1.82bn by 2029.
In the Online University Education market, the number of users is expected to amount to 3.1m users by 2029.
User penetration will be 0.4% in 2024 and is expected to hit 0.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$558.80.
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 ASEAN is experiencing significant growth and development, driven by various factors such as changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in ASEAN are increasingly turning to online university education due to its convenience and flexibility. With busy work schedules and personal commitments, many individuals find it difficult to attend traditional brick-and-mortar universities. Online education allows them to pursue higher education at their own pace and from the comfort of their own homes. Additionally, the COVID-19 pandemic has accelerated the adoption of online learning as people seek alternative ways to continue their education while adhering to social distancing measures.

Trends in the market: One of the key trends in the online university education market in ASEAN is the rise of Massive Open Online Courses (MOOCs). MOOCs offer a wide range of courses from reputable universities and institutions, allowing learners to access high-quality education from anywhere in the region. These courses often come with lower costs compared to traditional university programs, making them more accessible to a larger population. Another trend is the increasing collaboration between online education providers and local universities in ASEAN. This partnership allows online education providers to offer accredited degrees and certifications, giving learners the opportunity to obtain recognized qualifications while studying online. This trend not only enhances the credibility of online education but also provides learners with a wider range of options to choose from.

Local special circumstances: ASEAN is a diverse region with different levels of economic development and educational infrastructure. In some countries, there is a shortage of universities or limited access to higher education, especially in remote areas. Online university education can bridge this gap by providing individuals with the opportunity to pursue higher education without the need to relocate or commute long distances. Furthermore, the region's large population of young people, coupled with the increasing demand for skilled professionals, creates a favorable environment for the growth of online education.

Underlying macroeconomic factors: The rapid economic growth in ASEAN countries has resulted in a growing middle class with higher disposable income. As a result, more individuals are willing to invest in their education and seek higher qualifications to enhance their career prospects. Online university education offers a cost-effective alternative to traditional education, making it an attractive option for individuals looking to upgrade their skills or change careers. Additionally, the advancement of technology and internet penetration in ASEAN countries has made online education more accessible. With the increasing availability of high-speed internet and affordable smartphones, more people have the means to access online learning platforms and participate in online courses. In conclusion, the Online University Education market in ASEAN is experiencing growth and development due to changing customer preferences, emerging trends such as MOOCs and partnerships with local universities, local special circumstances such as limited access to traditional education, and underlying macroeconomic factors such as economic growth and technological advancements. These factors are driving the adoption of online education and shaping the future of 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.