The Online University Education market in BRICS is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences for online education have been shifting towards flexible and accessible learning options. With the increasing demand for higher education and the need for upskilling, students and working professionals are opting for online university programs to acquire new skills and knowledge. Online education allows individuals to study at their own pace, from anywhere in the world, and provides them with the flexibility to balance their education with other commitments. This convenience and flexibility are driving the growth of the online university education market in BRICS. Trends in the market are also contributing to its development. The adoption of technology in education has paved the way for online learning platforms and tools, making it easier for universities to offer online programs. The use of multimedia, interactive content, and virtual classrooms enhances the learning experience, making it more engaging and effective. Additionally, the increasing availability of Massive Open Online Courses (MOOCs) and other online learning platforms has expanded the options for students, allowing them to choose from a wide range of courses and programs. Local special circumstances in BRICS countries further contribute to the growth of the online university education market. In countries like Brazil, Russia, India, China, and South Africa, there is a significant demand for higher education due to population growth and the need for skilled professionals. However, traditional universities in these countries often face capacity constraints and lack the infrastructure to accommodate all students. Online education provides a viable solution to this challenge by expanding access to higher education and reaching a larger number of students. Underlying macroeconomic factors also play a role in the development of the online university education market in BRICS. Economic growth and rising disposable incomes in these countries have led to an increase in the demand for education and skill development. Online education offers a cost-effective alternative to traditional university programs, making it more accessible to a wider range of individuals. Additionally, the rapid advancement of technology and internet connectivity in BRICS countries has created a favorable environment for online education to thrive. In conclusion, the Online University Education market in BRICS is growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for flexible and accessible learning options, the adoption of technology in education, the need to expand access to higher education, and favorable macroeconomic conditions are driving the development of the market. As a result, the online university education market in BRICS is expected to continue its growth trajectory in the coming years.
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.
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