Online University Education - Finland

Finland

Highlights

Revenue in the Online University Education market is projected to reach US$9.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.41%, resulting in a projected market volume of US$13.70m by 2029.
In the Online University Education market, the number of users is expected to amount to 114.4k users by 2029.
User penetration will be 1.5% in 2024 and is expected to hit 2.1% by 2029.
The average revenue per user (ARPU) is expected to amount to US$117.60.
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 Finland has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Online University Education market in Finland is the increasing demand for flexible and accessible education options. With the advancement of technology, more and more people are looking for ways to further their education without having to attend traditional brick-and-mortar universities. Online university education provides the flexibility to study from anywhere at any time, making it an attractive option for working professionals, stay-at-home parents, and individuals who live in remote areas. Additionally, online education allows students to learn at their own pace, which is appealing to those who prefer a more self-directed learning approach.

Trends in the market: A key trend in the Online University Education market in Finland is the rise of Massive Open Online Courses (MOOCs). MOOCs are online courses that are open to anyone, anywhere, and typically offer free access to course materials. They have gained popularity in Finland due to their affordability and accessibility. MOOCs provide an opportunity for individuals to explore different subjects and gain new skills without the financial commitment of a traditional degree program. Many universities in Finland are now offering MOOCs as part of their curriculum, allowing students to earn credits towards a degree. Another trend in the Online University Education market in Finland is the integration of technology in the learning process. Online platforms and tools are being used to enhance the learning experience, such as virtual classrooms, interactive videos, and gamification. These technologies make the learning process more engaging and interactive, which can lead to better retention of knowledge.

Local special circumstances: Finland has a highly educated population and a strong emphasis on education. The country is known for its high-quality education system and has a high literacy rate. The government of Finland has recognized the potential of online education and has been supportive of its development. There are initiatives and funding programs in place to promote online education and encourage universities to offer online courses. This support from the government has contributed to the growth of the Online University Education market in Finland.

Underlying macroeconomic factors: The Online University Education market in Finland is also influenced by macroeconomic factors. The country has a strong economy and a high standard of living, which allows individuals to invest in their education. Additionally, the labor market in Finland is highly competitive, and having a higher education degree can give individuals a competitive edge when seeking employment. As a result, there is a strong demand for online university education in Finland as individuals seek to improve their skills and qualifications. In conclusion, the Online University Education market in Finland is experiencing significant growth due to increasing customer preferences for flexible and accessible education options. The rise of MOOCs and the integration of technology in the learning process are key trends in the market. Finland's highly educated population, government support, strong economy, and competitive labor market are all contributing factors to the growth of the Online University Education market in the country.

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.