The online music education market is projected to grow at a CAGR of 17.83% 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 audio, videos, and other graphics. Convenience with regards to the place, flexibility, and 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.
Market Trends and Covid Impact
The online music and video creation and promotion industry are creating more demand for online music education. However, the high-scale distribution of offline music education is hindering the growth. During the current COVID-19 scenario, online education is being adopted on a wide scale. This step is taken to avoid the transmission of the virus, and hence people are taking quarantine measures and adopting virtual platforms for disseminating education. Hence, the current novel coronavirus situation is projected to affect the demand for online music platforms and solutions in the short run.
The impact of COVID-19 on the online learning mechanism was clearly visible, with the number of students enrolling in digital courses growing rapidly in 2020. Even though music learning currently forms a niche part of the global online education market and is not considered one of the mainstream courses, it too witnessed a rapid uptick in its adoption. A survey conducted by the Royal Philharmonic Orchestra, with a sample size of 2,110 revealed that approximately 38% of the children in the UK started learning a musical instrument during the isolation period at home.
With the advancement of technology and the growing internet penetration, music education is able to reach more students over the world. Video conferencing, instant messaging, file sharing, and digital whiteboarding are some of the mediums used for imparting online music education. Digital music tools such as YouTube, Digital sheet music and apps, and cloud-based systems 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.
The rising online music video creation and promotion industry is another factor that is boosting the online music education market growth. Increasing internet penetration and proliferation of connected devices such as smartphones and tablets have made possible the distribution of music in an instant and immaterial form. The continuous use of social media platforms such as Facebook, Twitter, YouTube, and Instagram to interact with the music industry is further expanding the video creation and promotion solutions for artists with less budget to spend on music labels. Online music streaming platforms are turning to original music production, distribution, and artist management through tie-ups with independent and non-film music artists.
The availability of several platforms where independent and budding music artists can upload their videos for free without the backing of the major record labels or a big budget is also encouraging people to opt for online music classes. For example, local bands can upload their music online on a multitude of platforms including Spotify, and can expose their music to millions of people easily and instantly.
Geographically, the online music education market has been segmented as North America, South America, the Middle East and Africa, Europe, and Asia-Pacific. The North American and European online music education markets are high up in the growth phase. 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. The key factors supplementing the growth in these regions include the early adoption of the technology coupled with the presence of a comparatively large tech-savvy population base in several countries across these regions. The inclination towards e-learning has also propelled the business opportunities for the music education service providers over the forecast period. However, the market in these regions is expected to reach exponential growth, as the growth across these regions is significantly high complementing the market size in these regions.
The Asia Pacific region is at an early stage of the growth phase and is projected to witness the fastest growth throughout the forecast period. The region will see steady growth owing to the huge investment in the online music education industry by China. In addition, the demand for learning western music and obtaining certification is increasing the demand for online music education in this region.
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 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 to 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 better musicians. 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 types 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.
Online Music Education Market Scope:
|Growth Rate||CAGR of 17.83% during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Instrument Type, Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||MusicGurus, Skoove (Learnfield GmbH), Yousician, Oy, Tonara Ltd., imusic-school, TakeLessons, Lessonface Inc., Shanghai Miaoke Information Technology Co., Ltd. (Peilian), Dubspot Online, The Online Academy of Irish Music (OAIM)|
|Customization scope||Free report customization with purchase|
The online music education market has been analyzed through the following segments:
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the online music education market?
A1. The global online music education market is projected to grow at a CAGR of 17.83% during the forecast period.
Q2. Who are the major players in the online music education market?
A2. Prominent key market players in the online music education market include MusicGurus, Skoove (Learnfield GmbH), Yousician, Oy, Tonara Ltd., imusic-school, TakeLessons, Lessonface Inc., among others.
Q3. How is the global online music education market segmented?
A3. The online music education market has been segmented by instrument type, type, and geography.
Q4. What factors are anticipated to drive the online music education market growth?
A4. An inclination towards extra-curricular activities as a career option among youngsters is a positive contributor to the online music education market.
Q5. Which region holds the largest market share in the online music education market?
A5. North America is projected to hold a notable share in the online education market due to the digitalization of the music industry.
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