Online University Education - Belgium

Belgium

Highlights

Revenue in the Online University Education market is projected to reach US$162.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.32%, resulting in a projected market volume of US$265.00m by 2029.
In the Online University Education market, the number of users is expected to amount to 241.7k users by 2029.
User penetration will be 1.3% in 2024 and is expected to hit 2.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$1.08k.
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 Belgium has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of online learning platforms.

Customer preferences: In today's fast-paced world, many individuals are seeking flexible and convenient ways to further their education. Online university education offers the perfect solution, allowing students to study at their own pace and from the comfort of their own homes. This flexibility is particularly appealing to working professionals who want to enhance their skills or pursue higher education while maintaining their careers. Additionally, online education provides access to a wide range of courses and programs that may not be available locally, allowing students to choose from a broader selection of options.

Trends in the market: One of the key trends in the online university education market in Belgium is the increasing adoption of online learning platforms by traditional universities. Many universities have recognized the potential of online education and have started offering online courses and degree programs alongside their traditional offerings. This trend has been driven by the desire to reach a wider audience and provide more flexible learning options to students. Additionally, the COVID-19 pandemic has accelerated the adoption of online learning, as universities were forced to shift to remote teaching and learning. Another trend in the market is the emergence of Massive Open Online Courses (MOOCs). MOOCs are online courses that are open to anyone, anywhere, and typically offer free access to course materials. These courses have gained popularity in Belgium and have attracted a large number of learners who are looking to acquire new skills or explore new subjects. MOOCs have also become a valuable tool for universities to showcase their expertise and attract potential students.

Local special circumstances: Belgium has a well-developed education system and is home to several prestigious universities. However, traditional higher education can be expensive and time-consuming, making online university education an attractive alternative for many individuals. Additionally, Belgium has a highly educated population and a strong focus on lifelong learning, which creates a favorable environment for the growth of the online education market.

Underlying macroeconomic factors: The growth of the online university education market in Belgium is also influenced by macroeconomic factors such as technological advancements and the increasing demand for skilled workers. Technological advancements have made online learning platforms more accessible and user-friendly, allowing for a seamless learning experience. The increasing demand for skilled workers in Belgium's knowledge-based economy has also created a need for continuous learning and upskilling, driving the demand for online university education. In conclusion, the Online University Education market in Belgium is experiencing significant growth due to changing customer preferences, the increasing availability of online learning platforms, and the adoption of online education by traditional universities. The emergence of MOOCs and the favorable local circumstances further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as technological advancements and the demand for skilled workers support 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.