Online education: global and China market
Valued at $198.2 billion in 2022, the global online education market is forecast to reach more than $600 billion by 2030, according to Vantage Market Research.
Despite rapidly expanding opportunities, the global online education market remains largely underserved, concludes Ambow Education Holding Ltd.
Ambow Education is a technology-driven education company operating primarily in the United States. Through the operation of its for-profit colleges and proprietary open-platform dynamic technology, Ambow offers high-quality, individualized and dynamic professional education services and products.
Now, China has a relatively large online education market, which has experienced rapid growth over the past two decades.
With the growth of Internet usage and improvements in online payment systems in China, Skillful Craftsman Education Technology believes that online education represents an attractive market opportunity.
According to Intelligence Research Group, the number of users in China’s online education sector was 298 million users in 2021 and the size of the online education market in China was valued at approximately RMB322 billion ($50.8 billion) in 2021.
The Qianzhan Industrial Research Institute reports that the size of China’s online education market is expected to reach RMB 649.7 billion ($102.5 billion) by 2025.
Online education
Under the influence of the pandemic situation, the process of online vocational education is accelerating, and new supply and demand continue to emerge.
The market for vocational education services in China is fragmented, rapidly evolving and highly competitive, describes Skillful Craftsman Education Technology.
The company believes that the main competitive factors in the markets are as follows:
- Scope and quality of course offerings and services.
- Ability to independently operate the cloud platform that integrates a wide range of online resources.
- Access to experienced faculty through strategic partnerships.
- Ability to align course offerings and services with specific student needs.
