According to the new research report published by The Insight Partners, titled “Online Program Management Market - Global Analysis and Forecast to 2027”, the global online program management market is expected to reach US$ 11,986.4 Mn by 2027, registering a CAGR of 15.4% during the forecast period 2020-2027.
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. Online education has become a mainstream activity in a growing number of institutions around the world. Several institutions around the globe address online education in their strategic plans, emphasizing a range of objectives, which include enrollment growth, quality enhancement, and student completion. The online enrollment is a growth engine in various countries, especially in the US higher education. The mainstream of online programs has adopted quality standards for program design, course design, online faculty development, and student results. Further, investments in various tools and techniques in order to offer online educational strategies are predictable to play a significant role in the near future.
For higher education, the institutions which are focusing on developing or expanding their online programs have to make strong decision on, whether to leverage a third-party OPM organization or attempt to build and execute in-house. The online learning is capital intensive, and the culture and processes around supporting, attracting, and retaining the adult learners, differs from those needed for traditional learners. The institutions face a several of resource constraints and further venturing into online learning has considerable risk as the development of the program needs upfront investment. The public-private collaborations have the potential for reducing these complexities and enable schools to concentrate on their core operation of teaching and learning. Additionally, the strategic partnerships of universities and colleges with OPM support to take steps to launch expanded online support services for stimulating online education growth. Online program managers (OPMs), which are behind an increasing number of programs, are responding to universities' and colleges’ desire for more flexibility and control in running the courses. OPM providers also increasing the various services they offer as a sector, while individual OPMs are enhancing specialties.
Further, 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. Thus, 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.
Online Program Management Market - Geographic Breakdown, 2019
The report segments the global online program management market as follows:
Global Online Program Management Market – By Business Model
- Revenue Share
- Hybrid
- Fee for Service
Global Online Program Management Market – By Education Level
- Under Graduate
- Post Graduate
- Professional Certifications
- Others
Global Online Program Management Market – By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America