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(Wireless-NewsWire.Com, May 12, 2017 ) Publisher€™s market research analysts predict the global MOOC market to grow at a CAGR of over 46% from 2015 to 2019. This research report considers revenues generated through platform licensing, course certifications, examinations, tutoring, and other personalized student services.
Among the various e-learning methodologies, learning through MOOCs is gaining momentum across the globe because of its ability to offer education irrespective of geographical boundaries and different time frames. Continuous innovation in e-learning tools, flexible delivery methods, and the availability of a variety of online courses offered by the various vendors in the market have significantly increased the dependency of individuals as well as corporates on MOOC tools.
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Origin of the MOOCs concept and its rapid adoption
The concept of MOOCs was brought about to engage participants in learning by getting linked to a series of computers and listening to and discussing topics. The MOOC concept was first developed in 2008 by Dave Cormier to give life to Siemens and Downes' concept of €˜Connectivism and Connective Knowledge€™ by providing free online courses with no credits to be gained. This structure is known as the cMOOC.
Many organizations are adopting MOOCs to offer employees online training, reduce costs, and increase employee productivity. Also, factors such as continuous innovation in terms of cutting edge delivery methods using smart devices contributes to the growth of this market. Thanks to these encouraging developments, the global MOOCs market is predicted to experience substantial growth in emerging economies over the next four years.
MOOCs market segmentation by end-user
Education sector
Corporate sector
The use of MOOCs has emerged as an essential catalyst for the development of progressive programs for both K-12. MOOCs are also considered a boon to the higher education students as it boosts participating students profile in the job market. A recipient of a certificate of a relevant course taught by world-class professors offers an edge over the other profiles.
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Geographical segmentation of the global MOOCs market
APAC
Americas
EMEA
In 2014, the US emerged as the highest revenue contributor to the market in the Americas, followed by Brazil. The launch of Veduca Edtech in Brazil attracted more than 10,000 students in the first two weeks, indicating high demand for MOOC technology in the region.
Leading vendor analysis of the global MOOCs market
Coursera
edX
Udacity
Udemy
To overcome the lack of faculty support, MOOCs providers such as Coursera are introducing advanced delivery systems that cater to students by making questions appear in a forum where other students can discuss and answer.
In the future, vendors are expected to introduce virtual labs, for instance, in electronics and circuits course, a learner can build circuits and tests its effectiveness online, without practically working in the lab.
Other prominent market vendors include Khan Academy, Codecademy, StraighterLine, Apple, Iversity, NovoEd, and MOOC2Degree.
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