Online Education - Canada

Canada

Highlights

Revenue in the Online Education market is projected to reach US$6.02bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.21%, resulting in a projected market volume of US$8.87bn by 2028.
The Online University Education market has a projected market volume of US$5.46bn in 2024.
In global comparison, most revenue will be generated United States (US$87.51bn in 2024).
The average revenue per user (ARPU) in the Online Education market is projected to amount to US$842.80 in 2024.
In the Online Education market, the number of users is expected to amount to 9.4m users by 2028.
User penetration in the Online Education market will be at 18.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Education market in Canada has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing demand for flexible learning options. Many Canadians are looking for ways to enhance their skills and knowledge without having to commit to traditional classroom-based learning. Online education provides them with the flexibility to learn at their own pace and from the comfort of their own homes. Additionally, the rise of remote work and the need for continuous professional development has also contributed to the popularity of online education in Canada.

Trends in the market: Another trend in the online education market in Canada is the increasing adoption of technology in the education sector. With the advancement of technology, online education platforms have become more interactive and engaging, offering a wide range of multimedia resources such as videos, quizzes, and interactive simulations. This has made online education more appealing to learners of all ages and backgrounds. Furthermore, the COVID-19 pandemic has accelerated the growth of the online education market in Canada. With the closure of schools and universities, many educational institutions had to quickly adapt to online learning platforms to ensure continuity of education. This has led to a surge in demand for online education services and the development of new online learning platforms.

Local special circumstances: Canada's vast geographic size and dispersed population also play a role in the growth of the online education market. In remote areas where access to traditional educational institutions may be limited, online education provides a viable alternative for individuals seeking higher education or professional development opportunities. Additionally, online education allows Canadians to access courses and programs offered by institutions across the country, regardless of their physical location.

Underlying macroeconomic factors: The strong presence of technology companies and startups in Canada has also contributed to the growth of the online education market. These companies are constantly developing new technologies and platforms to enhance the online learning experience, making it more accessible and engaging for learners. Furthermore, the Canadian government has recognized the potential of online education in driving economic growth and innovation. As a result, they have implemented policies and initiatives to support the development of the online education sector, such as funding programs and tax incentives for companies operating in the industry. In conclusion, the Online Education market in Canada is experiencing rapid growth due to the increasing demand for flexible learning options, the adoption of technology in education, the impact of the COVID-19 pandemic, the unique geographic circumstances of the country, and the support from the government and technology companies. This trend is expected to continue as more Canadians recognize the benefits and convenience of online education.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.