The online music education market is projected to grow at a CAGR of 18.68% during the forecast period. Internet penetration in the world has been on a constant rise since 1995 when it was about 0.77% to reach about 50% in 2017 (source: World Bank). With it, massive transformations occurred in the education sector. From educational videos on YouTube or similar applications to online courses, learning has become a fun activity. The interactivity these courses can generate is a distinguishing factor of online courses from their conventional counterparts. Content has become concise and expressive simultaneously with the use of audios, videos, and other graphics. Convenience with regards to place and flexibility with regards to time are added advantages of studying online. A wide range of courses is available from academics, employment or leisure perspective. Additionally, savings, in terms of cost and time, is also a demand booster of this industry. If a comparison is built with the old learning methods, children find learning online less intimidating and advantageous as they can ask questions without any fear and review lectures at any time if they miss something.
Online education business will add to the GDP of the nations by making people more skillful in their jobs. People who are employed can get quality education from leading professionals and highly qualified professors from renowned universities without even attending B-schools. Besides students, teachers can also teach and earn at their convenience while building their skills. Faculty shortage problem can be overcome if teachers contribute to such education platforms. Education is the most repaying sector where the return on investment is too high for the economy.
With the advancement of technology and growth of internet penetration, music education is able to reach more students over the world. Video conferencing, instant messaging, file sharing and digital whiteboarding are the medium for online music education market. Digital music tools like YouTube, Digital sheet music and apps and cloud-based system are transforming the music education industry from the traditional music learning process. Music TV shows and music festivals have a positive contribution to the market. The online music and video creation and promotion industry are creating more demand for online music education. The high scale distribution of offline music education is expected to hinder the growth.
One such online course which is gaining traction recently is Music Education. Learning nitty-gritty of music online is an appealing way of enhancing career. Video conferencing, digital whiteboarding, instant query redressal mechanism, and file sharing are various tools used by the online music education industry. An inclination towards extra-curricular activities as a career option among youngsters is a positive contributor to this market. Music shows and festivals, and online music and video creation appeal to large audiences driving more people to pick up subjects under Music. Certain online course websites also provide 7 to 14 days of free trial with an option to choose your teacher.
“The education system is evolving at a very fast pace”, online education platform upgrades co-founder and MD Mayank Kumar said. "With industries directly connecting with e-learning institutions like ours, the content has never been so up-to-date. All this put together makes e-learning platforms complete, and students and working professionals future-ready, in a matter of months," he said.
Zaurus Master, the CEO, Shine Learning.com, said, "In the current scenario, professionals will be required to re-skill themselves every 3-4 years to remain relevant in their evolving job roles," which boosts the demand for online certification courses from top global educational service providers.
With regards to the type segment, Music History holds a significant share of the online music education market. Music has remained an indispensable part of the humankind since it is invented. Every culture, varying with time or regions, has its history of music. A culture’s music is a reflection of its socio-economic life and music history tends to provide more information about those cultures.
Several studies have indicated a relationship between studying music as a subject and intelligence. People with at least a music elective tend to perform in other courses too. Among the liberal arts students, music history is a subject needed to be studied for advanced knowledge. People passionate about music aim to develop thorough well-rounded information about music from the past to the present to be able to connect the dots and values that have shaped that music. The same words never mean the same thing for different people and this difference arises because of the way music evolved in different cultures. Hence, people find it relevant to invest time in learning music history to be able to express their thoughts with suitable words and become a better musician. Communicating about music is also a skill that students learn in Music History classes.
With the competitive environment becoming a commonality in every stream, accumulating holistic know-how of the subject is driving the demand for new kinds of courses such as Music History or Musicology. Since a very insignificant number of professors teach such subjects, the demand for online music education courses is on the rise.
Geographically, the online music education market has been segmented as North America, South America, Middle East and Africa, Europe and Asia-Pacific. North America is projected to hold a noticeable market share in the online education market during the forecast period due to the digitalization of the music industry. Again, the Asia-Pacific region will see a steady growth owing to huge investment in online music education industry by China. In addition, the demand for learning western music and obtaining certification is increasing demand for online music education in this region.
The online music education market has been analyzed through the following segments: