DUBLIN--(BUSINESS WIRE)--The "Global Online Music Education Market, By Instrument Type, Session Type, Organizer Type, Learning Type - Forecast till 2027" report has been added to ResearchAndMarkets.com's offering.
The global online music education market held a market size of USD 130.74 Million in 2020 and is expected to reach USD 421.92 Million by 2027. The online music education market is anticipated to grow at a CAGR of 18.4% over the forecast period.
Online music education is a recent technology in the music education industry. It utilizes online platform computers and the internet to teach, guide and train students. Online music education increases interactivity through usage of videos, audios, and graphics. Also, children find learning online to be less daunting and beneficial since they may ask questions without fear of being judged and can re-read & re-visit lectures at any moment via recorded videos and audios.
Online music education also allows learners to get trained by highly trained professionals in the industry from any remote location. Teachers can also keep track of their students' data, their schedules, and other related videos and clips for training purposes, using this platform. Increased usage of mobile devices, and growth in digitization across the globe has resulted in increased demand for online music education to a great extent in the past few years. The trend of online education and training is here to stay in the forthcoming years.
Growth Influencers
Continuous growth in the number of internet users across the globe is driving the demand for online music education
One of the most important factors fuelling the growth of online music education market, is growth in the number of internet users. This has resulted in increased demand for online trainings. Increasing use of technologies such as digitization, artificial intelligence has further promoted to the growth in the usage of online music education to a great extent.
Covid-19 resulting in lockdown across the globe
The growing number of coronavirus cases across the globe has resulted in complete lockdown in various countries across the globe. The music industry is hugely affected by Covid-19 as it has affected other industries. In this scenario, online music education gives teachers the convenieince of place and time. Music professionals can train their students in any remote location, at any given time. These advantages offered by online music education have resulted in increased demand, which is expected to grow during the forecast period.
Lack of awareness regarding availability of online music education is restraining the market growth
Lack of awareness regarding the existence and usage of online music education in the developing countries is one the most important factors retraining the growth of the market. Also, the trend of online training has just arrived in developing countries like India. There is a lack of knowledge among parents and students regarding benefits the online platform can fetch for students, in turn creating a hindrance in the market growth.
Segments Overview
The global online music education market is segmented by instrument type, type, session type, organizer type, learner type.
By Instrument Type
- Piano
- Guitar
- Banjo
- Violin
- Others
The piano segment held the largest share of 34% in 2020. The segment is expected to continue this dominance during the forecast period. The guitar segment is also expected to grow at a highest rate i.e., CAGR of 19.2% during the forecast period.
By Type
- Music History
- Musicology
- Theory
- Others
The theory segment held the largest share of around 59% in 2020. The segment is expected to continue this dominance during the forecast period. The music history segment is also expected to grow at a highest rate, during the forecast period.
By Session Type
- Solo
- Group
Based on session type, solo segment is forecasted to grow at a highest rate during the forecast period.
By Organizer Type
- Schools
- Music studios/academy
- Professionals
Based on organizer type, schools' segment is estimated to dominate the online market education market, with a share of more than 39% in 2020. Whereas, music studio/ academy segment is projected to grow at the highest rate of 20.1% during the forecast period, and is projected to surpass the school segment in terms of market share, by the year 2023.
By Learner Type
- Beginners
- Hobbyists
- Professional Musicians
The learner type segment was dominated by hobbyists sub-segment, with the largest share in 2020, and is expected to continue this dominance during the forecast period.
Companies Mentioned
- Berklee College of Music
- The Juilliard School
- Lessonface.com
- Moosiko
- MusicGurus
- AAFT School
- VIP Peilian
- Skoove
- TakeLessons
- Berklee College of Music
- Point Blank
- Tonara
- Yousician
- TakeLessons
For more information about this report visit https://www.researchandmarkets.com/r/dzqf4z
