The landscape of online higher education market is gaining immense growth in Latin America owing to numerous factors including growth of smartphones and internet users, rising government initiatives to promote online learning, covid-19 pandemic and increasing awareness of online higher education amongst others.
Growth of Smart Devices and Internet that Brings More Users Online
According to Absolute Markets Insights report, government bodies in Latin America are increasingly promoting the adoption of online platforms amongst students. Certain bodies are also launching their own Massive Open Online Courses (MOOCs), some of which are provided for free. Subjects such as data science and Artificial Intelligence, along with finance, are in high demand in countries such as Brazil, Argentina and Colombia, amongst others. Furthermore, the growth of smart devices and the internet is playing a prominent role in the adoption of online education courses, since the individuals can access the materials from the comfort of their home. In Brazil alone, studies show that there were around 142 million smartphone users in 2020, and the number is expected to grow considerably in the coming years. Universities have also started providing online courses for students. University of Sao Paulo, for instance, is using Coursera’s MOOCs platforms for reaching the students in Latin America. The availability of online courses at cheaper rates (as compared to on-school training) is helping in the proliferation of online higher education market in Latin America.
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Online higher education programs based on emerging technologies such as Artificial Intelligence, data science, blockchain, cryptocurrency, medical imaging, internet of things (IoT), etc., are becoming increasingly popular in Latin America. Government bodies are largely focussing on these topics as well, since countries such as Brazil and Chile are trying to become heavily digitized in the future, due to which they require a digitally skilled workforce which is capable of tackling national issues. On Udemy, for instance, there are around 350 courses based on Artificial Intelligence alone. Game-based higher education programs as well as micro-learning programs are expected to become popular in the coming years, especially amongst young adults. Game-based learning has several advantages which includes higher retention of information, practical application of the subject, higher interest generation, amongst others. MOOCs and micro-learning providers are increasingly relying on app-based learning, predominantly due to the growth in smartphones amongst individuals. These applications are available on iOS and Android stores. Thus, the online higher education market demand is on the rise in Latin America.
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Technological Advancements is driving the Growth of Online Higher Education Market in Latin America
The advancement in AI technology, blockchain and big data analytics is a boon for the online higher education market. Machine learning models is enabling online education content creators to provide personalized learning materials for the students, and pace the courses based on the student’s learning ability. Furthermore, with the advancement in AI, grading and monitoring assessments and quizzes will also become easier, which in turn is likely to reduce the burden on individuals. The market participants are focussing on providing courses and materials in regional languages, especially Spanish, to encourage more learners. Bi-lingual courses, which support both the regional language and English are being provided. This is enabling the students to learn comprehensively, as translations often help in better understanding of the subject. Companies are also looking to form partnerships with government bodies to provide online education training to government colleges and universities. Thus, these factors are driving the growth of online higher education market in Latin America.
Competitive Landscape:
Some of key players operating in the Latin America online higher education market are Coursera Inc., Ser Educacional, Udemy Inc. and YDUQS Participações S.A, amongst others.
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Latin America Online Higher Education Market
By Offering
- Solutions
- Services
By Learning Type
- Synchronous
- Asynchronous
By Platform
- Web-based
- App-based
By Subject Type
- History, Geography and Political Science
- Science and Technology, and Mathematics
- Human Sciences and Medicine
- Economics and Finance
- Music and Arts
- Software Programming
- Language, Communication and Soft Skills
- Others
By End-User
- Individuals
- Educational Institutes
- Small and Medium Institutes
- Large Institutes
By Country
- Brazil
- Argentina
- Rest of Latin America
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