MOOC Market Size

Massive Open Online Course (MOOC) Market Analysis

The MOOC Market size is estimated at USD 22.80 billion in 2024, and is expected to reach USD 119.17 billion by 2029, growing at a CAGR of 39.20% during the forecast period (2024-2029).

The growing trend of digitalization, increasing penetration of smartphones, and the flexible accessibility of the internet, coupled with growing demand for cost-effective education platforms, are fostering the growth of the massive open online course market.

• The advancements in information and communication technologies are forcing educators and learners to move past time, space, and environmental constraints. While traditional classroom education has been a well-known learning system, education outside the classrooms, especially the one enhanced through technologies such as massive open online courses (MOOCs), has gained significant growth over the past few years.
• MOOCs are gaining significant traction among knowledge seekers owing to their low cost and lack of eligibility requirements. Additionally, these courses can support people in transitioning their careers by acquiring new qualitative knowledge and expertise and enhancing their prospects. Such factors are further expected to drive the market in the coming years.
• Moreover, the shift toward digital learning has accelerated the growth of the massive open online course market. Students all over the world are now used to online ways of learning, which has made them less resistant and increased the demand for the MOOC market.
• Further, governments across countries are urging universities and schools to adopt and promote Massive Open Online Courses (MOOCs) in order to provide maximum benefits to the students; this, in turn, would drive the demand for MOOCs.
• In June of this year, for example, the University Grants Commission (UGC) asked all universities to let students transfer credit for courses they took on the Study Webs of Active Learning for Young Aspiring Minds (SWAYAM) platform to their academic records.The UGC also asked universities to work together to adopt and promote Massive Open Online Courses (MOOCs) through the SWAYAM platform so that students could get the most out of them.

The COVID-19 outbreak and lockdown in many countries surged the demand for MOOCs, with students worldwide adopting digital learning platforms. The massive open online courses have also significantly increased enrolment since the pandemic. For instance, the enrolment in Coursera, an online platform offering MOOCs, skyrocketed by around 640% from mid-March to mid-April compared to the same period in the previous year, growing from around 1.6 million to 10.3 million. Moreover, the enrolment at Udemy, which is another MOOC provider, grew by more than 400% between February and March.