Online Program Management Market Outlook to 2027 - 2U, Academic Partnerships, Apollidon, Bisk Education

The online program management market was valued at US$ 3,916.3 Mn in 2019 and is expected to grow at a CAGR of 15.4% from 2020to 2027 to reach US$11,986.4 Mn by 2027.

Online program management (OPM) comprises supporting students, processing registrations, conducting market research and analytics, and offers the latest marketing technology infrastructure. The team involved with online program management includes digital marketing experts, data analysts, education technologists, web developers, and student support specialists to create an effortless process for students. Online degrees are now common, provided by several colleges and universities, every year, students at all institutions enroll for online courses. The online program management market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition, both from start-ups as well as the leading established companies in the globe. Several companies in the value chain are acquiring other players in the market to maintain their position in the market and provide efficient services to its customers. Major companies of online program management providers are based in North America and mainly the US. However, the market is penetrating at a high growth rate in the APAC region.

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Impact of COVID-19 on Online Program Management Market

The corona virus has affected education system, globally. This has led to the closures of many universities and schools. This has adversely impacted the operations of schools and colleges. In response to the closures of schools and universities due to COVID-19, UNESCO has recommended to use open educational application and online distance learning programs to teach remotely. This makes a huge opportunity for online program management service providers. However, the lack of internet connectivity and supporting infrastructure remains a challenge.

Online program management (OPM) comprises supporting students, processing registrations, conducting market research and analytics, and offers the latest marketing technology infrastructure. The team involved with online program management includes digital marketing experts, data analysts, education technologists, web developers, and student support specialists to create an effortless process for students. Online degrees are now common, provided by several colleges and universities, every year, students at all institutions enroll for online courses. Online education has become a mainstream activity in a growing number of institutions around the world. Several institutions around the globe address online education in their strategic plans, emphasizing a range of objectives, which include enrollment growth, quality enhancement, and student completion. The online enrollment is a growth engine in various countries, especially in the US higher education. The mainstream of online programs has adopted quality standards for program design, course design, online faculty development, and student results. Further, investments in various tools and techniques in order to offer online educational strategies are predictable to play a significant role in the near future.  

For higher education, the institutions which are focusing on developing or expanding their online programs have to make strong decision on, whether to leverage a third-party OPM organization or attempt to build and execute in-house. The online learning is capital intensive, and the culture and processes around supporting, attracting, and retaining the adult learners, differs from those needed for traditional learners. The institutions face a several of resource constraints and further venturing into online learning has considerable risk as the development of the program needs upfront investment. The public-private collaborations have the potential for reducing these complexities and enable schools to concentrate on their core operation of teaching and learning. Additionally, the strategic partnerships of universities and colleges with OPM support to take steps to launch expanded online support services for stimulating online education growth. Online program managers (OPMs), which are behind an increasing number of programs, are responding to universities' and colleges’ desire for more flexibility and control in running the courses. OPM providers also increasing the various services they offer as a sector, while individual OPMs are enhancing specialties.

Further, the OPM partners help the institutes in leveraging their deep strategic insight, analytics, data, and vast resources to expect change and take benefit of new opportunities. Also, these players support to plan for demographic change through designing high-demand programs that register students across traditional geographic boundaries. Thus, the rising focus of institutes to collaborate with OPM provides to control risks associated with the online programs is propelling the growth of OPM market.   

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