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I cant say how large is it, It needs research data for measure it. But I think it is a generous market for advance society.
It's big and getting bigger. In higher education, in the fall2009 semester,5.6 million students were taking online courses. Online enrollments are increasing at21%, compared with a2% growth rate for overall higher-education enrollments. Here's an infographic on the online education industry - and the overall history of change and growth in higher education - from Western Governors University, which is an all-online, accredited, nonprofit university.
It is vast, especially in the developed countries, where there is a high level of internet infrastructure. Un-interrupted power supply and high speed internet facility is essential to encourage the learners for online education.
Western universities are offering short courses and even degree courses online but they are providing a highly sophisticated system to cater the needs of online learners.