Melbourne, Australia (PRWEB) September 19, 2012
The Online Education industry has grown at a rapid pace. Technological advancements and faster internet speeds have allowed the online model to become a more viable method of learning. With more individuals and businesses recognising the benefits of online education, the uptake of online learning has soared over the past five years. According to IBISWorld industry analyst Ee Jen Lee, “the appeal of higher education has further fuelled growth”.
Up-skilling was a trend that became apparent during the recent economic crisis. While Australia survived relatively unscathed, up-skilling has its permanent place in society today. Also, with more Australians engaged in longer full-time hours of employment, the flexibility offered by online education has enabled more full-time workers to engage in further learning. Besides demand side factors, higher education and further education providers have recognised the growing need for flexibility and have increased the breadth of courses offered through online platforms. For these reasons, the industry is projected to grow an annualised 18.6% through 2012-13. Lee adds, “in 2012-13, the industry is forecast to grow 9.6% to $5.28 billion”. The Online Education industry’s market share concentration is low, and the only major player is Open Universities.
After the initial growth spurt, Online Education industry revenue is projected to grow at a marginally slower rate over the five years through 2017-18. While the demand for paid online courses will continue to grow, student enrolments will grow marginally slower. The market driven demand system in higher education is expected to strip some growth from this industry, as more universities offer additional undergraduate places. However, the arrival of the national broadband network will enable providers to reach more communities in regional areas. Further, there are numerous opportunities globally for providers to tap into a receptive South-East Asian market that already has large exposure to the virtues of an Australian education. While the proliferation of free online courses have been to the delight of students and a growing concern of many education providers, the industry still has time to expand their offerings to stave off a larger threat in the future. For now, as the world-class universities are reluctant to offer formal accreditation for their online courses, Australia's existing education providers can maintain its dominance over the fee-paying market.
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 enrolment 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.
Recognised 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 organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.