Global Online Music Education Market to Reach $421.9 Million by 2027 – Astute Analytica
CHICAGO, USA, Oct. 4, 2022 /EINPresswire.com/ — Astute Analytica reports that the global online music education market size was US$130.7 million in 2020 and is expected to reach US$421.9 million US dollars by 2027 registering a compound annual growth rate (CAGR) of 18.4% during the forecast period of 2022 to 2027.
Online music education is the process of teaching and learning music through online platforms, including authorized websites, apps, live video conferencing, etc. , and their enhanced service offerings.
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Online music education market, by type of organizer
Schools are the main contributors to online music education, and therefore the main organizer of ownership. Schools held a 39.8% share in 2021, followed by music academies/studios, which recorded a value of US$48.4 million in 2021 and are expected to grow at the highest CAGR of 20.1%.
Online music education, by instrument
The instrument segment is sub-segmented into piano, guitar, banjo, and violin, with piano leading with the highest market share of 38%. As of February 2022, there were nearly 37 million pianists worldwide and approximately 21 million people in the United States playing the piano. The piano segment held a value of US$44.7 million in 2021, while the guitar held second place. In the coming years, the guitar segment is expected to grow at the highest growth rate of 19%, driven by the optimizable performance of guitars suitable for different types of music including remix, pop, etc.
Online music education, by type of session
On the basis of session type, the global online music education market has witnessed excellent growth owing to the huge contribution of the group session segment, which held a share of 79.3% in 2021. music education institutes prefer to give group sessions in order to form a band. students at a time. In the coming years, the solo session is expected to project the highest CAGR of 19.9% due to the growing demand for personalized sessions.
Online music education, by type
Based on Type, the theoretical type segment was leading with the highest market share of 57.1% in 2021, owing to high demand from educational institutions such as schools, universities, etc. . Meanwhile, the music history segment will register a CAGR of 19.2% due to the growing demand to know more about the history of each type or genre of music.
Factors influencing the market
Digitization is gaining prominence in the education sector due to the growing adoption of e-learning solutions. As a result, the global online music education market is expected to grow significantly. Moreover, the adoption of smart and connected devices for education has registered a significant increase after the COVID-19 pandemic. Various organizations have started offering free courses with the aim of helping music enthusiasts acquire adequate knowledge at home. For example, Skoove, one of the prominent leaders in the online music education industry, has created some of its premium content for people. The beginner piano lesson, with nearly 25 songs, has been made free for children. Additionally, the company has started offering Skoove Premium to teachers and educational institutions for free.
With the advent of the internet, learning music is now at your fingertips. People don’t need to travel to distant places to learn music and find the best music teachers online. Various platforms, such as Masterclass, Coursera, Lynda, etc., offer online music education from top professionals. These advantages determine the scope of the overall market.
Data security is one of the major constraints likely to hinder the growth of the online music education market. In addition, sharing data over the Internet increases the risk of cyberattacks.
Opportunities and trends:
Artificial intelligence is gaining vital importance and transforming the global view of the education sector. Music development has become easier through the use of technologies such as AI robots. Intelligent AI robots allow musicians to develop their own albums. Also, various prominent music institutions like Berklee and Juilliard are gradually moving towards online music education implementing MOOCs. For example, in March 2022, Berklee lifted the lid on its independent recording and production major. The college has made a constant effort to help students produce professional quality music anywhere with their personal music production toolkit.
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Market players and recent developments
Some of the major players in the global online music education market include Yousician, Berklee College of Music, Moosiko, Skoove, MusicGurus, Tonara, Lessonface, VIP Peilian, The Juilliard School, Point Blank, AAFT School, Lessonface.com, Musitechnic , Udemy, TrueFire, TakeLessons, Coursera and others. Industry players are increasing their online offerings by recognizing the reach of online music education. For example, MusicGurus, an online learning platform, completed song studies with KT Tunstall in May 2020. The course incorporates tips and tricks and also offers two-hour learning. Additionally, TakeLessons Inc. lifted the veil on its new subscription site in March 2021, designed for beginner, intermediate, and skilled musicians.
By device type
By session type
By type of organizer
By type of learner
Australia and New Zealand
Rest of Asia-Pacific
Middle East and Africa (MEA)
United Arab Emirates
Rest of MEA
Rest of South America
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