The report ‘Online Learning and Skill Development in the US to 2021 — Market Size and Intelligence’ discusses the current and forecasted market size of the online learning and skill development sector. The sector includes training and courses imparted to experienced as well as budding professionals, entrepreneurs and corporate employees. It includes courses taken directly by learners, as well as through their employers (B2B corporate training).
The report segregates the market size on the basis of various levels of online skill development, such as industries, courses and mode of training. It discusses the forecasted market size and year–wise growth of the space till 2021, along with the various drivers, which will lead to this growth. It further talks about the various trends that are shaping the online skill development space, along with the profiles of major US–based players.
The report does not cover offline courses, as well as online courses for school and university students.
Market size of online learning and skill development in the US is estimated to reach US$XX.XX billion by the end of 2016. While XX.XX % (US$ XX.XX billion) of the market comprises of online training and skill development in Business–to–Business (B2B) space, the Business–to–Consumer (B2C) space accounts for only XX.XX % of the market at an estimated US$ XX.XX billion.
The online learning and skill development in the US is forecasted to grow at a compound annual growth rate (CAGR) of XX.XX %, and reach US$ XX.XX billion by the end of 2021. The growth will be led by various factors such as increase in online corporate training and development as well as attrition, rising higher education costs, and more people using internet enabled devices.
The market is also witnessing several trends such as new online learning and skill development products, collaboration among companies, and increasing investments and acquisitions.
This report has been prepared through the following comprehensive methodology:
Market size of online learning and skill development has been defined as the aggregate of online learning spend by experienced as well as budding professionals, entrepreneurs and corporate employees. For estimating the total market size, whole of the online learning space was segregated into B2B and B2C to calculate the demand for online learning and training. A demand-driven approach has been followed rather than a supply-driven approach as several online skill development providers — such as Udacity and Udemy — also cater to learners from outside the US.
Bases of all the figures and future estimates are taken from the statistics provided by the online learning companies, government, ministries, as well as prominent organizations such as the World Bank, International Monetary Funds, UNESCO Institute of Statistics, World Factbook — CIA etc. The data is further validated through credible analyst reports, white papers by industry organizations, questioners and expert interviews.