Online Education industry revenue continues to grow as it reaches new markets
Melbourne, Australia (PRWEB) May 21, 2012
The Online Education industry in Australia is growing at a rapid pace. Technological advancements and faster internet speeds have allowed the online model to become a more viable method of learning, and more individuals and businesses are beginning to recognize the benefits of online education. The industry will grow by an estimated 19.7% per annum over the five years through 2011-12 to reach $4.68 billion. Supporting this growth is the uptake of broadband internet services, technological developments, growing cultural acceptance of education delivered via the internet and a new approach to distance education. According to IBISWorld industry analyst Ee Jen Lee, “This is being led by several course providers that are catering to a non-traditional student market”. These providers include Kaplan Professional, SEEK Learning and Open Universities Australia (the industry’s major player). The industry remains highly fragmented with many small providers. Market share concentration is therefore considered to be low. The entrance of new players to the industry will also prevent market concentration from increasing dramatically over the next five years.
Online courses are principally being developed by existing education providers who are making a shift to blended learning. There is a strong market for courses that can be undertaken in addition to full-time or part-time employment, or scheduled around other commitments. Lee adds, “This has been a significant factor driving applications for enrollment in courses offered by the Online Education industry”. The economic downturn in 2009 benefited the Online Education industry, with more people enrolling in education to upgrade their qualifications in a weaker job market.
However, demand for online courses is expected to remain strong as the job market improves, as many of those students entering or rejoining the workforce will be able to continue studying while working. An emphasis on lifelong learning and an expansion of online courses will support strong Online Education industry revenue growth over the next five years. Technology continues to develop at a rapid pace and this will influence the future of online education. Growth will be supported by the continued uptake of high-speed internet services, growing acceptance of online education, government financial support of students and efforts to expand access to non-traditional students. The trend for re-skilling and lifelong learning will support continued growth in flexible methods of study, including online education.
For more information, visit IBISWorld’s Online Education report in Australia industry page.
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IBISWorld industry Report Key Topics
The industry includes education institutions that deliver online education to students. To be considered as being online, over 80% of the course or unit content has to be delivered online. For example, students could be located off-campus for the duration of their enrollment and successfully complete a unit of study. Online education includes study at all levels of education.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.