In 2019, the global online program management market was valued at approximately US$ 3,916.3 million and is projected to experience a compound annual growth rate (CAGR) of 15.4% from 2020 to 2027, ultimately reaching around US$ 11,986.4 million by 2027.
For institutions of higher education aiming to develop or enhance their online offerings, a critical decision lies in whether to partner with a third-party Online Program Management (OPM) provider or to create and manage these programs internally. The realm of online education is capital-intensive, and the strategies required to attract, support, and retain adult learners significantly differ from those used for traditional students. Institutions often encounter various resource limitations, and the pursuit of online learning entails substantial risks, particularly since program development necessitates significant upfront investment. Collaborations between public and private sectors can alleviate some of these challenges, allowing educational institutions to focus on their primary mission of teaching and learning. Furthermore, strategic alliances between universities and OPMs are essential for launching enhanced online support services, which are crucial for fostering growth in online education. OPMs are increasingly addressing the needs of colleges and universities for greater flexibility and control over their course offerings, while also expanding the range of services they provide, with individual OPMs honing their specific areas of expertise.
The growing integration of technology within the education sector is propelling the adoption of online learning programs. The increasing enrollment in online courses and programs at colleges and universities is a significant driver for leading online program management firms, particularly in North America. Online bachelor?s and master?s degree programs are gaining traction among students, as many large educational institutions transition towards offering high-quality online degree options supported by robust technical assistance. The demand for online program management is surging as more students enroll in these programs.
In the Asia-Pacific (APAC) region, several factors are anticipated to contribute to the growth of online program management, including the presence of rapidly developing countries, heightened technology adoption, a growing number of mobile devices, and the existence of prestigious universities. Other emerging regions, such as the Middle East and Africa (MEA) and South America (SAM), are also expected to experience steady growth, driven by increasing government initiatives aimed at digitalizing the economy and adopting advanced technologies for online learning.
The online program management market is categorized based on business model, education level, and geographical location. In terms of business model, the market is divided into revenue share, hybrid, and fee-for-service models. Regarding education level, the market encompasses undergraduate, postgraduate, professional certifications, and other categories. Geographically, the online program management market is segmented into five regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Key players in the online program management market include established companies such as 2U, Inc., Academic Partnerships, Apollidon, Bisk Education, Inc., Blackboard Inc., Keypath Education, Noodle Partners, Online Education Services (OES), Pearson Education, and Wiley Education Services.
The overall size of the global online program management market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the global online program management market. This research also provides an overview and forecast of the market based on the various segments identified across global regions. Additionally, primary interviews with industry participants and experts are conducted to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the online program management sector.