PALM BEACH, Fla., Feb. 15, 2022 /PRNewswire/ -- The global online education software market has grown significantly during the pandemic and is predicted by many industry watchers to continue to grow exponentially. All segments will reap increased revenues including e-learning and the special education software market. That is exhibited in the following 3 reports. One report from ResearchAndMarkets said that Online Education Market will reach US$ 350 Billion by 2025, globally due to the introduction of flexible learning technologies in the corporate and education sectors, while a report from Statista said that the Global Online e-learning Market is forecasted to grow exponentially, reaching over 370 billion U.S. dollars by 2026. While another report by Report Linker said that the Global Special Education Software Market to Reach $3.5 Billion by 2027. The ResearchAndMarkets report continued: "The advanced artificial intelligence-driven platform is also playing a significant role in the growth of this market globally. Online education provides flexibility for the learner to learn from anywhere, anytime, as most of the online education devices are portable. The corporate learning market is segmented into SMBs and large institutions. SMBs have limited financial resources, so the online learning method is more cost-effective as it allows multiple employees to be trained in a less cost-intensive way." Active Companies in the markets today include Pushfor Investments Inc. (otcpk:PUSOF) /zigman2/quotes/207557184/delayed CA:PUSH 0.00% , Stride, Inc. /zigman2/quotes/205813628/composite LRN -2.68% , Chegg, Inc. /zigman2/quotes/205655041/composite CHGG -3.71% , Laureate Education, Inc. /zigman2/quotes/201028758/composite LAUR -1.23% , Nerdy Inc. /zigman2/quotes/221611481/composite NRDY -0.33% .
"The United States is a leader in the global online education market due to the introduction of e-learning courses and distance learning programs. Several educational institutions are focusing on augmented reality based learning. China is other major market for this market place. It is anticipated that this growth will also continue during the forecasting period. India's online market is expected to grow due to cost-effective education, availability of quality education, government's digital initiatives, smartphone user base, and internet penetration. The United States and China are the top two leading countries in the global online education market due to growing internet penetration, increasing per capita disposable income, and availability of online courses." The report Linker Report added: "Amid the COVID-19 crisis, the global market for Special Education Software estimated at US$2.4 Billion in the year 2020, is projected to reach a revised size of US$3.5 Billion by 2027, growing at a CAGR of 5.4% over the period 2020-2027. The U.S. Market is Estimated at $705.8 Million, While China is Forecast to Grow at 5% CAGR."
Education Revolution, LLC, the creator of the award-winning Socrates Learning Platform - BREAKING NEWS - Learn with Socrates and Tanoshi announce expansion of partnership to new version and new devices - E ducation Revolution, LLC, the creator of the award-winning Socrates Learning Platform, today announced the extension and expansion of their partnership with Tanoshi to make Learn with Socrates available to more kids on their newest devices.
Tanoshi believes every child deserves an equal opportunity to have access to an age-appropriate computer and develop skills that will be essential for future careers. This aligns with the mission of Learn with Socrates, to provide access to an equal education through personalized learning for all children. Together, Tanoshi and Learn with Socrates are providing the tools necessary to ensure all kids are on a path to a brighter tomorrow
As part of the expanded relationship, Learn with Socrates will be available on Tanoshi's newest device, the Tanoshi Scholar as well as future devices released by the company. The Tanoshi Scholar was recently named best laptop for elementary school students by ABC's Good Morning America.
In addition, the companies have expanded their relationship to include the newest release of Learn with Socrates, expected to be released this spring. Learn with Socrates personalizes and gamifies learning across thousands of educational topics. The new version brings a modern look, simplified interface, and new educational categories in multiple languages. Tanoshi customers will receive an extended free trial of the new solution with easy signup right from their devices.
"We are excited to continue our partnership with Education Revolution", stated Lisa Love, Chief Marketing Officer and Co-Founder of Tanoshi. "Our customers love the personal learning feature that Socrates provides, and we know with this new version, kids will be given more opportunities to learn the skills needed for a brighter future."
"Tanoshi makes devices that kids love and they have been a great partner", stated Brian Rosenberg, Chief Executive Officer of Education Revolution. "The new Tanoshi Scholar is a great learning device for kids to use in schools and at home. We are excited to expand our partnership to the Scholar and their future computers as well as make our newest version available to Tanoshi customers"
The expansion of the partnership is effective immediately with all new Tanoshi Scholars including the Socrates Learning Platform. Pushfor Investments /zigman2/quotes/207557184/delayed CA:PUSH 0.00% (otcpk:PUSOF) (fft:713) has recently acquired an equity stake in Education Revolution, LLC. More information about Learn with Socrates can be found on its website: www.withsocrates.com .
Other recent developments in the educational industry include:
Pushfor Investments Inc. (otcpk:PUSOF) /zigman2/quotes/207557184/delayed CA:PUSH 0.00% recently announced the engagement of Northern Block Inc . (" NBI "). This technology integration brings the latest advances in blockchain, smart contracts, and digital identification to the AFX logistics platform providing unparalleled security and data integrity for drivers and shippers.
The AFX logistics platform integration to NBI's NB Orbits Solution provides next-generation dedicated Blockchain applications. AFX is designed to remove the risk and streamline key 'pain points' of the North American trucking industry by eliminating data redundancy, allowing immediate payment settlements, mitigating fraud, supporting digital identification, and providing end-to-end supply chain visibility.
Stride, Inc. /zigman2/quotes/205813628/composite LRN -2.68% recently the company announced that it is bridging the gap between young talent and innovative hiring companies with the launch of its High School Internship Search Tool and Employer Resource Center. The career development tools will connect high school students to new experiences and will give employers the support and guidance they need to design and implement a robust high school internship program.
According to the 2020 Naviance Pathways Survey, more than 80 percent of high school students want more access to internships, and the 2021 Future of Learning Research survey found 94% of employers believe students learn best by experiencing the real world through opportunities like internships and job shadowing programs. Stride's Internship Search Tool and Employer Resource Center will meet the needs of students looking for professional experience and of employers seeking motivated young talent.
Chegg, Inc. /zigman2/quotes/205655041/composite CHGG -3.71% , the leading student-first connected learning platform, recently reported financial results for the three and twelve months ended December 31, 2021. "During these complicated times, the Chegg team continued to execute extremely well, with Chegg Study Pack take rates outperforming our expectations and retention rates reaching all-time highs, both of which positively impacts subscriptions, ARPU, and margins for Chegg Services," said Dan Rosensweig, CEO & President of Chegg, Inc. "Students depend on Chegg as an important part of their learning journey and the momentum we experienced in the fourth quarter of 2021 is continuing into 2022."
Laureate Education, Inc. /zigman2/quotes/201028758/composite LAUR -1.23% recently announced preliminary financial results for the fourth quarter and year ended December 31, 2021 and guidance for full-year 2022. Based on preliminary information, Laureate expects fourth quarter revenue of approximately $295 to $297 million and Adjusted EBITDA of approximately $57 to $60 million, and, for the year ended December 31, 2021, expects revenue of approximately $1,085 to $1,087 million and Adjusted EBITDA of approximately $250 to $253 million. Total enrollment at year-end 2021 was approximately 388,500 students.
Laureate ended the fourth quarter of 2021 with approximately $325 million of cash and cash equivalents and $154 million in debt outstanding. In addition, $74 million of the Walden sale transaction value was paid into an escrow account, which will be released in full or in part to Laureate in August 2022pursuant to the terms and conditions of the escrow agreement.
Nerdy Inc. /zigman2/quotes/221611481/composite NRDY -0.33% , a leading platform for delivering live online learning, recently announced the company will release its fourth quarter and full year financial results for the period ended Dec. 31, 2021 after the U.S. stock market closes on Monday, Feb. 28, 2022. Following the release, Nerdy management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company's financial and operating results.
Interested parties may listen to the call by dialing 1-844-200-6205 or, for international callers, 1-929-526-1599. The Conference ID is 950584. A live webcast of the call will also be available on Nerdy's investor relations website at https://www.nerdy.com/investors . A replay of the webcast will be available on Nerdy's website for one year following the event and a telephonic replay of the call will be available until March 7, 2022 by dialing 1-866-813-9403 or 44-204-525-0658 and entering passcode 209757.
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