NEW YORK, Jan. 8, 2021 /PRNewswire/ -- Online education has become a major part life during the pandemic. Millions of students around the world have stayed home and participated in newly developed online curriculums, in lieu of crowded classrooms. Furthermore, the growth in this market has been noticed in many verticals of education such as coding, healthcare, group sessions, and even masterclasses by notable individuals from various fields of expertise. "This year upended everything about how we live and work, and people everywhere turned to online learning to help them meet new challenges. We're perfectly positioned to meet these demands and help drive success for individuals, businesses, and governments," said Gregg Coccari, CEO of Udemy, according to a report by Forbes. Meten EdtechX Education Group Ltd. (NASDAQ: METX), Adtalem Global Education Inc. (NYSE: ATGE), 2U, Inc. (NASDAQ: TWOU), Zoom Video Communications, Inc. (NASDAQ: ZM), New Oriental Education & Technology Group Inc. (NYSE: EDU)
Besides the impacts of the pandemic and the social distancing measures implemented by governments, other factors contributing to the growth of the online education market include the increasing internet penetration, coupled with mounting use of mobile devices in emerging economies such as China, India, Malaysia and South Korea. Emerging markets such as these are expected to play a major role in the future development of this new approach to education. And, according to data provided by Valuates Reports, the academic e-learning market size was valued at USD 103.8 Billion in 2019 and is expected to grow CAGR 11.23% by 2025.
Meten EdtechX Education Group Ltd. (NASDAQ: METX) announced breaking news last week that, "its overseas training services was accredited as the "2020-2021 Most Famous Brand in the International Education Industry" by the Overseas Education Research Center of the China Education Think Tank Alliance, the Development Research Committee of Overseas Education Institutions (DRCOOT) and the National Academic Alliance of International Education Teachers (NAAIET) on Dec 16, 2020.
Overseas training services is a test-oriented ELT product launched by the Company that is mainly designed for students who plan to take international standardized tests, including, but not limited to, IELTS, TOEFL, SAT and ACT. Through intelligent analysis and evaluation system, overseas training services provides systematic teaching, training and comprehensive learning tracking service to students which stimulates students' learning motivation, cultivates students' 5 major habits of studying abroad, and helps students to achieve a solid academic improvement.
In addition to international standard test preparation, overseas training services team also provides overseas study application services for students going to the United Kingdom, the United States, Australia, Canada, and Hong Kong, including providing students with school selection, overseas study and living, and add on value for soft strength.
The Company will optimize and upgrade its current overseas training services to increase the diversity of its services, including, but not limited to, upgrading the products for middle school students, launching career and internship planning services and providing career consulting services which may enable students to overcome difficulties in improving scores, choosing majors and continuing to obtain higher education.
Assuming no resurgence of the COVID-19 pandemic in China, and taking into account recent positive developments relating to COVID-19 vaccines and the continuous recovery of China's economy, the Company expects student enrollment of overseas study application services will gradually return to pre-pandemic levels in the second and the third quarter of 2021. It also targets the gross billing of overseas study application services to reach approximately RMB10 million in 2021, representing about 100% increase compared with 2020."
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Adtalem Global Education Inc. (NYSE: ATGE) reported back in November its financial results for its fiscal 2021 first quarter ended September 30th, 2020. Revenue of USD 268.2 Million increased 5.4% compared to the prior year. "We delivered robust revenue and earnings per share growth, supported by significant enrollment increases across Medical and Healthcare, a steady return to clinicals and solid performance in Financial Services," said Lisa Wardell, chairman and CEO of Adtalem. "This strong outcome is the result of ongoing strategic investments, continued operational execution and expanded offerings across both verticals. Our strategic investments, along with increased demand, drove double-digit enrollment growth within Chamberlain University and solid single-digit enrollment growth across our medical and veterinary schools. We were also encouraged by solid revenue growth and significant operating income growth in the Financial Services vertical. This momentum throughout Adtalem positions us well for the remainder of the year."
2U, Inc. (NASDAQ: TWOU) announced last month an expanded portfolio of 10 new professional online short courses in Health and Wellness, Leadership and Management, Digital Transformation in Healthcare, and Innovation and Research developed by the Stanford Center for Health Education (SCHE). These courses will be available to global learners through GetSmarter, 2U's short course brand. "Health and wellness has never been more relevant to families, organizations, and society as a whole," said Andrew Hermalyn, President of Global Partnerships at 2U. "We're excited to expand our agreement with Stanford Center for Health Education and offer a broader portfolio of online short courses covering timely and important topics in healthcare."
Zoom Video Communications, Inc. (NASDAQ: ZM) announced back in October its new end-to-end encryption (E2EE) is now available to users globally, free and paid, for meetings with up to 200 participants. This feature is available immediately as a technical preview, meaning that the company is proactively soliciting feedback from users for the next 30 days. E2EE is available on Zoom desktop client version 5.4.0 for Mac and PC, the Zoom Android app, and Zoom Rooms, with the Zoom iOS app pending Apple App Store approval. "We're very proud to bring Zoom's new end-to-end encryption to Zoom users globally today," said Zoom CISO Jason Lee. "This has been a highly requested feature from our customers, and we're excited to make this a reality. Kudos to our encryption team who joined us from Keybase in May and developed this impressive security feature within just six months."
New Oriental Education & Technology Group Inc. (NYSE: EDU) a provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of language training and test preparation, primary and secondary school education, online education, content development and distribution, overseas study consulting services, pre-school education and study tour. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.
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