The Online Music Education Market is anticipated to grow at a CAGR of 16.62% throughout the forecast period

Knowledge Sourcing Intelligence announces the publication of a new report on “Online Music Education Market – Forecasts from 2019 to 2024" to their offering. Online Music Education is an education platform that provides courses such as music history, musicology, among others, through internet access.

The Online Music Education market is estimated to grow at a CAGR of 16.62% between 2018 to 2024.The online music education market is expanding due to the rising internet penetration in the world since 1995 when it was about 0.77% to reach 50% in 2017 (Source: World Bank). The Internet has brought a paradigm shift in the way education is provided.

Studying through visuals and audios has always been considered a fascinating idea by the students across the globe, which is the major reason why the online music education market is burgeoning. Added to this, the availability of varied courses and an inclination towards an individual’s holistic development, is driving people to learn diverse courses in music or other arts. The interactivity these courses offer, at low-cost, is a characteristic feature of this market. There is a drift of focus, especially by parents, towards convenience and flexibility with regards to place and time, respectively, for their child’s education due to less availability of time. 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 out on something. All such factors are the demand boosters of this market. Besides students, professors or teachers also benefit from such courses in terms of more students and hence more earnings.

Geographically, the online music education market Report has been segmented into North America, South America, Europe, the Middle East & Africa, and the Asia-Pacific region. North America is expected to hold a substantial share of the market while the Asia-Pacific region is estimated to grow at a significant CAGR throughout the forecast period. Intensifying competitive environment, with rising incomes of the people in developing countries such as India, is propelling the sales of Online Music Education in such regions. With regard to the type segment, this industry has been divided into Music History, Musicology, Theory and Others. Music History holds a significant share of the online music education market because it provides insights about how music evolved through cultures and has a bearing on more understanding of the music.

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Some of the major players covered as part of the report are, inter-alia, MusicGurus, Skoove, Yousician, Tonara,  iMusic-School, TakeLessons, Inc.,, Inc.

The Online Music Education market has been analyzed through the following segments:

  • By Type

    • Music history
    • Musicology
    • Theory
    • Others
  • By Geography

    • North America

      • USA
      • Canada
    • South America

      • Brazil
      • Others
    • Europe

      • Germany
      • France
      • United Kingdom
      • Others
    • The Middle East and Africa
    • Asia Pacific

      • China
      • Japan
      • India
      • Others