Industry Analysis & Industry Trends
The Online Education industry has grown rapidly over the past five years. Technological advancements and faster internet have made the online education model a more viable option for learning. With more individuals and businesses recognising the benefits of online education, the use of online learning has soared.
A trend towards upskilling, which became apparent during the global financial crisis, has solidified with an increase in the national unemployment rate over the past five years. Higher unemployment has encouraged those out of work to retrain, and employees to upskill to protect themselves from redundancy. Online education provides greater flexibility and enables full-time workers to engage in further learning... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the growth stage of its industry life cycle. Over the 10 years through 2020-21, the industry's contribution to the economy (industry value added) is expected to grow by a compound annual rate of 5.2%, a strong performance when compared with expected compound annual GDP growth of 2.6% over the same period. This indicates that the industry is growing at a faster pace than the overall economy.
Online education introduces a range of new products to the Education and Training division, which are opening up new markets. From school age to mature age, the convenience of online education has enabled individuals from all walks of life to become a participant of the industry.
Aiding growth is the take-up and advancements of mobile technology... purchase to read more