Online Education - Peru

Peru

Revenue in the Online Education market is projected to reach US$128.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.91%, resulting in a projected market volume of US$225.70m by 2029.
The Online Learning Platform market has a projected market volume of US$85.69m 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$40.28 in 2024.
In the Online Education market, the number of users is expected to amount to 4,427.0k users by 2029.
User penetration in the Online Education market will be at 9.2% in 2024.

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Analyst Opinion

The Online Education market in Peru is experiencing significant growth and development due to various factors.

Customer preferences: Peruvian customers are increasingly turning to online education as a convenient and flexible way to acquire new skills and knowledge. With the rapid advancement of technology and the internet, online education platforms offer a wide range of courses and programs that cater to the diverse needs and interests of learners. This allows customers to access high-quality educational content from anywhere and at any time, making it an attractive option for individuals with busy schedules or limited access to traditional educational institutions.

Trends in the market: One of the key trends in the online education market in Peru is the increasing demand for courses and programs in professional development and vocational training. As the job market becomes more competitive, individuals are seeking to enhance their skills and stay relevant in their respective industries. Online education platforms offer a wide range of courses in areas such as digital marketing, business management, and programming, which are in high demand among Peruvian professionals. Another trend in the market is the rise of online language learning. Peru is a multicultural country with a diverse population, and there is a growing demand for language courses, particularly English. Online language learning platforms provide interactive and immersive learning experiences, allowing individuals to learn at their own pace and practice their language skills in real-life scenarios. This trend is driven by the increasing importance of English proficiency in the global job market and the desire to enhance communication skills for personal and professional purposes.

Local special circumstances: Peru has a large population of young people who are digitally savvy and comfortable with technology. This demographic factor contributes to the growth of the online education market, as young Peruvians are more likely to embrace online learning platforms and take advantage of the opportunities they offer. Additionally, the COVID-19 pandemic has accelerated the adoption of online education in Peru, as traditional educational institutions were forced to shift to online learning to ensure the continuity of education during lockdowns and social distancing measures.

Underlying macroeconomic factors: The economic growth and stability in Peru have also played a role in the development of the online education market. As the country's economy expands, more individuals have the means to invest in their education and seek opportunities for personal and professional growth. Online education offers a cost-effective alternative to traditional education, making it accessible to a larger segment of the population. In conclusion, the Online Education market in Peru is experiencing growth and development due to customer preferences for convenience and flexibility, trends in professional development and language learning, local special circumstances such as a young and tech-savvy population, and underlying macroeconomic factors such as economic growth and stability. These factors contribute to the increasing popularity of online education platforms in Peru, offering individuals the opportunity to acquire new skills and knowledge in a convenient and accessible manner.

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.