Online program management (OPM) comprises supporting students, processing registrations, conducting market research and analytics, and offers the latest marketing technology infrastructure. The team involved with online program management includes digital marketing experts, data analysts, education technologists, web developers, and student support specialists to create an effortless process for students. Online degrees are now common, provided by several colleges and universities, every year, students at all institutions enroll for online courses. The online program management market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition, both from start-ups as well as the leading established companies in the globe. Several companies in the value chain are acquiring other players in the market to maintain their position in the market and provide efficient services to its customers. Major companies of online program management providers are based in North America and mainly the US. However, the market is penetrating at a high growth rate in the APAC region.
Various companies in the North America offer online program management solutions to higher education institutes and universities, and these solutions are broadly accepted in the education sector. The increase in the demand for e-learning and growing emphasis on effective learning trigger the growth of the education market in the region. The rising initiatives by governments such as Department's federal student aid programs and increasing trend of leveraging technological advancements for developing innovative online program management solutions by the private and the public institutes drive the growth of the online program management market.
Online learning is becoming an essential part of the educational landscape. The online program enrollments are increasingly driven by the rising number of students who are looking for flexible formats for certificates, courses, and degree programs to support career placement as well as to pursue advanced studies. Students who enrolled in on-campus programs are also focusing on registering for the hybrid to fully online courses during their enrollment. Online bachelor’s degrees are booming among students as many prestigious and large institutions are shifting toward various online degree programs owing to the high-quality technical assistance in the learning experience. Further, the graduate students in today’s time are actively focusing on pursuing virtual courses for their higher studies. For instance, distance learning for the MBA course is gaining popularity with sturdy growth in online MBA courses year-on-year. Registration for these kinds of programs is increasing among public and non-profit universities as the demand for virtual programs is increasing, which is anticipated to bolster the growth of the online program management market. Moreover, the rising need for career-related skills development and life-long learning is playing an essential role in propelling the growth of online programs. For online program providers, the certificate course purchasers cover a large segment as numerous students opt online courses for improving their skillset knowledge, and these courses are associated with industry standards. By receiving certifications associated with their field, professionals are now enhancing their value to the company as well as their position. This ambitious choice is further expected to keep them updated with the technology, industry trends, and many other topic areas that are constantly evolving around the world. By remaining relevant and educated via opting different and suitable courses provide the best chance to advance the individual career in the present scenario. For instance, the growing popularity of data analytics amongst the students, many online educational portals, and colleges have designed a series of courses on data analytics and data market research. Thus, the rising demand for both online degrees as well as professional courses is boosting the growth of the online program management market.
In business model segment, revenue share captured the largest share in the global online program management market. Revenue share is a long-term, institution-wide, partnership model that requires limited investment from institutions for the execution and sustenance of the project. In this model, financial risk is limited for the partner institution as OPM providers provide the majority of investment capital.
The online program management market, by application, is segmented in to under graduate, post graduate, professional certifications, and others. The post graduate segment captured dominating share in the global online program management market.
The corona virus has affected education system, globally. This has led to the closures of many universities and schools. This has adversely impacted the operations of schools and colleges. In response to the closures of schools and universities due to COVID-19, UNESCO has recommended to use open educational application and online distance learning programs to teach remotely. This makes a huge opportunity for online program management service providers. However, the lack of internet connectivity and supporting infrastructure remains a challenge.
Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in North America. Few of the recent acquisitions are listed below;
2018:Wiley acquired The Learning House, Inc. This has extended companies provide online program management services including graduate and undergraduate programs, short courses, boot camps, and other for international students, professional development services for teachers, and others.
2017:2U acquired Get Educated International Proprietary Limited. The company acquired Get Educated International Proprietary Limited. As a result, the company now manages its operations through two reportable segments.
The regional trends and factors influencing the Online Program Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Online Program Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3.92 Billion |
| Market Size by 2027 | US$ 11.99 Billion |
| Global CAGR (2019 - 2027) | 15.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Business Model
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Online Program Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Online Program Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Online Program Management Market
The revenue share is the leading business model in the market. The revenue share model is attractive owing to low capital investment requirements, and broad resources and technological expertise availability, for planning, designing, and launching online higher education programs. This model provides an adequate amount of consulting; infrastructure support, marketing resources, and student support services, as well as accelerates recruitments worldwide.
The OPM partners help the institutes in leveraging their deep strategic insight, analytics, data, and vast resources to expect change and take benefit of new opportunities. Also, these players support to plan for demographic change through designing high-demand programs that register students across traditional geographic boundaries. The rising focus of institutes to collaborate with OPM provides to control risks associated with the online programs is propelling the growth of OPM market.
The North America region led the online program management market in 2019. The rising initiatives by governments such as Department's federal student aid programs and increasing trend of leveraging technological advancements for developing innovative online program management solutions by the private and the public institutes drive the growth of the online program management market in the region. The presence of various renowned educational institutes, such as Harvard University, Stanford University, University of Toronto, University of British Columbia, and the National Autonomous University of Mexico, is also contributing to the market growth.