Online University Education - Australia

Australia

Highlights

Revenue in the Online University Education market is projected to reach US$4.03bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.98%, resulting in a projected market volume of US$5.69bn by 2028.
In the Online University Education market, the number of users is expected to amount to 715.7k users by 2028.
User penetration will be 1.9% in 2024 and is expected to hit 2.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$7.99k.
In global comparison, most revenue will be generated United States (US$82.30bn in 2024).
With a projected rate of 2.3%, the user penetration in the Online University Education market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online University Education market in Australia has seen significant growth in recent years, driven by changing customer preferences and advancements in technology.

Customer preferences: Customers in Australia are increasingly looking for flexible and convenient options for higher education. Online university education provides the flexibility for students to study at their own pace and from any location, making it an attractive option for working professionals and individuals with other commitments. Additionally, the ability to access a wide range of courses and programs from universities around the world is a key factor driving the demand for online education.

Trends in the market: One of the key trends in the online university education market in Australia is the increasing number of partnerships between universities and online learning platforms. These partnerships allow universities to leverage the expertise and technology of online learning platforms to deliver high-quality online courses. This trend is expected to continue as universities recognize the importance of offering online education options to attract a larger pool of students. Another trend in the market is the growing popularity of Massive Open Online Courses (MOOCs). MOOCs are online courses that are open to anyone and typically do not require any formal qualifications. They provide an affordable and accessible way for individuals to gain new skills and knowledge. The availability of MOOCs from prestigious universities around the world has made online education more accessible and appealing to a wider audience.

Local special circumstances: Australia has a large population of international students, and online university education provides an opportunity for these students to access higher education from their home countries. This is particularly relevant in light of the COVID-19 pandemic, which has restricted international travel and made it difficult for students to study abroad. Online education allows international students to continue their studies and earn a degree from an Australian university without having to physically be in the country.

Underlying macroeconomic factors: The demand for online university education in Australia is also driven by macroeconomic factors such as the increasing cost of traditional higher education and the need for upskilling in a rapidly changing job market. Traditional higher education can be expensive, and many individuals are seeking more affordable alternatives. Online education offers a cost-effective option for individuals to gain new skills and qualifications. Furthermore, the rapid advancement of technology and the increasing digitization of the workforce have created a need for continuous learning and upskilling. Online university education provides a flexible and convenient way for individuals to acquire new knowledge and skills that are in demand in the job market. In conclusion, the Online University Education market in Australia is experiencing significant growth due to changing customer preferences, such as the need for flexibility and convenience, as well as advancements in technology. The increasing number of partnerships between universities and online learning platforms, the popularity of MOOCs, and the accessibility of online education for international students are key trends driving the market. Additionally, macroeconomic factors such as the rising cost of traditional higher education and the need for continuous learning and upskilling in a digital economy contribute to the growth of the online university education market in Australia.

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.