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Online Education Industry

Delivered August 15, 2019. Contributor: Hillary O.

Goals

The market size, growth, and leading companies in the US online education industry & club industry (such as Soho House), some on-demand classroom & recording studio rental options in NYC & their price, as well as, any available data on the number of people in NYC taking continuing ed/technical bootcamps courses.

Early Findings

  • The US elearning (also known as online education) market was worth over $27 billion in 2016. It is expected to grow by 5% from 2018 to 2022.
  • The self-paced online learning market in the US is estimated to decrease to $15.86 billion in 2021 from $20.85 billion in 2016.
  • One of the factors fueling this market include the fact that youths - particularly millennials - "have developed an appreciation for the ease of access and improved effectiveness new animated, engaging, interactive learning tools provide."
  • The key players in the US online education market include Adobe Systems, McGraw-Hill Education, Blackboard, Lynda.com, Aptara, Edmodo, and PowerSchool Learning.
  • In 2016, there were over "6 million students in the U.S. who enrolled in at least one online course." 
  • Around 77% of US corporations used e learning in 2017 while " 67% of US companies offered learning opportunities via smartphones." 

ON-DEMAND CLASSROOMS FOR RENT

Space 1

  • Peer Space offers a 2,000 sq. ft. private auditorium space in Lower Manhattan, NYC, that can be used as a classroom for $250/hr.  
  • The space has "Powered Versteel Tables, Wi-Fi Two HQ Projection TV’s, Wireless Mics, Bluetooth Wireless Loudspeaker, and Beautiful Columned Space with Privacy Curtains."  
  • The host can be messaged here.

Space 2

  • There is a "open and airy event/classroom space" in Midtown New York that is available for $115/hour at a minimum of 3-hours.
  • The space has WiFi, a projector, tables, whiteboard, a screen, chairs, and flip chairs.  


Proposed next steps:

You need to be the project owner to select a next step.
Market information on the private club industry (such as Soho House) is unavailable on the public domain. There is also no publicly available data on the number of people in NYC taking continuing ed/technical boot camp courses. We propose going ahead with a report on 7-10 statistics on the US private club industry. This could include the total number of US individuals in these clubs, how many clubs there are in the US and in NYC, and so on.
We recommend proceeding with 5-7 additional on-demand classroom rental options & 7-9 on-demand recording studio rental options in NYC. For each, we will provide their price, address/location, amenities, and contact information. ***NOTE: It would help to know any price range, preferred size/number of seatings, and preferred location in NYC for these rental options***