London, UK, March 02, 2022 (GLOBE NEWSWIRE) -- According to Brandessence market research, the E-learning market size reached USD 309.25 Billion in 2021. The E-learning market size is likely to grow at 23.7% CAGR during 2021-2028 to reach USD 1370.56 Billion by 2028 end.
Market Drivers: Doing a further e-learning market drivers analysis in the pandemic, however, can give us a real picture of how the pandemic has aided the growth of the e-learning market in the last few years. This has been primarily aided due to an implementation of a lot of campaigns which enhance the skills of the students. A lot of these have been done by the governments of a lot of countries and a lot of significant companies all over the world. The COVID pandemic has made the industry prosper as there is a sudden increase in the investment by companies in the technologies that assess skills; these are used for the better understanding of their employees on an emotional level and also taking into account their cultural backgrounds. Further, for the sustenance in a market which is turning increasingly competitive, the EdTech startups have been shifting to the digitalization of procedures for providing a lot of their educational and training services online for the comparison of the skill levels and making sure they choose right options and the offers of doing their assessment processes over the online platform. One of the long-term impacts on the economies and lives of people and economies by an increase in the demand for an e-learning eco-system. There is a rise in skilled labor demand and growth by the efforts of government and the worker betterment which is positively impacting the market growth.
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Scopes of E-learning Market
The e-learning forecast report 2022 states that the COVID pandemic rise has further boosted the need for the schools and colleges as well as the other institutes to be online as most of the conventional schools have closed down in order to avoid a spread of the coronavirus pandemic. The growth of many platforms for e-learning has been phenomenal as the institutes are now going on to adopt the delivery of training and education for the individuals during the lockdowns which have been enforced due to the pandemic. A platform known as BYJU’s in India has been investing in technology and online tutoring and has seen a growth which has seen the company double the number of students who use the product. A lot of the students who have been living in the accommodations and hostels had now gone back to their home which left them with learning platforms to be the only resort. Online education market trends have grown significantly due to this.
The use of AI and machine learning has grown among e-learning platforms as it allows customized content based on each student's existing knowledge and provides a one-size-fits-all approach. In addition, by leveraging AI and ML, it becomes possible to quickly analyze huge amounts of data, as well as identify patterns & trends to continuously optimize and improve learning experiences. Moreover, it helps make the course creation process much simpler, faster, and more agile without having to sacrifice quality. For example, automatic translation and localization feature have enhanced the e-learning development process by offering more speed and efficiency. Furthermore, it is now possible to develop multi-language content for global companies that face the challenge of creating useful content for branches in multiple countries, or for the increasingly common situation of companies working with remote teams that speak different languages. Thus, growth in number of such developments is expected to provide lucrative opportunity for the global market.
Key Companies Analysis:
Adobe, Articulate Global, Aptara Inc., CERTPOINT LLC, Citrix Systems, Cisco Systems Inc., Microsoft Corporation, D2L Corporation, SAP SE and Oracle Corporation are some of the major players in the global market. For penetrating the market, these firms have been adopting strategies such as merger and acquisition and also innovating in technology to grow their market share in the e-learning market size. With the market growing, we can expect a lot more companies to join the fray.
Also Focusing on:
- Apollo Education Group
- Allen Interactions, Inc.
- ILT Solutions
- Blackboard Inc.
- GP Strategies Corp.
- Instructure Inc.
- Coursepath
- NIIT Ltd.
- Pearson Plc
- Skillsoft Corp.
- Thomson Reuters Corp.
- Cornerstone
- Meridian Knowledge Solutions
- NetDimensions.
- Learning Pool
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E-Learning Market Segmentation:
The segmentation of the global market has been done on the basis of deployment where the cloud segment has been touted to grow the fastest in the coming years due to the interest in e-learning and the increase in services and interest in technology. Further it is providing better learning solution maintenance and continuous facilitation of learning. In terms of region, the e-learning market scope has seen a dominance in the North American region and has been also expected to see a major growth in the coming years. This is due to the rise in competition in the North American companies. The Asia Pacific region has been said to see a major growth in the coming years.
By Type:
- Fixed E-Learning
- Adaptive E-Learning
- Linear E-Learning
- Computer Managed Learning (CML)
- Computer-Assisted Instruction (CAI)
- Synchronous Online Learning
- Asynchronous Online Learning
- Interactive Online Learning
- Others
By Technology:
- Online E-Learning
- Learning Management System (LMS)
- Mobile E-Learning
- Rapid E-Learning
- Virtual Classroom
By Provider:
- Service
- Content
By Application:
- Higher Education
- Corporate
- K-12
- Vocational Training
Market Trends:
The global e-learning market has been one which has grown significantly in the recent past and has been expected to show further growth in the coming few years. The e-Learning model is a mode of learning which involves the imparting of knowledge on various subjects to the students done through any electronic mode. This includes modes such as audio, video, AR/VR, e-books and the electronic mode. The process of e-learning has much more benefits for the students in comparison to the conventional form of learnings. These include lower education costs and focus on specialized learning courses. This has also become a big part of a lot of the organizations as it is enhancing the employee performances. The companies such as IBM are now learning that the employee productivity can almost be doubled when the employees are given the opportunity to learn as per their needs in the e-learning portals at their convenience.
During the pandemic, a key growth positive in the e-learning market trends has been the remote learning process and how people who were now staying indoors and doing their education remotely have impacted the growth of the global market. Furthermore, there has been a surge in the usage of machine learning and AI which has boosted the growth system of the market all over the world. There are factors, however, like the dearth of face-to-face learning which people are conventionally used to and a lack of self-motivation among the students which has been a real drawback of the global market growth.
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Reginal Analysis:
North America is expected to dominate the e-learning market with the highest market share in the forecast period. Moreover, heavy investments in R&D initiatives, technological expansions, and the presence of major players present in the region, this factor will propel the growth of the market in North America. According to UNESCO, global spending on R&D has reached a record high of almost USD 1.7 trillion and about 10 countries account for 80% of spending on R&D.
On Special Requirement E-learning Market Report is also available for below Regions and Country:
North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Switzerland
- Belgium
- Rest of Europe
Asia-Pacific
- South Korea
- Japan
- China
- India
- Australia
- Philippines
- Singapore
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Colombia
- Brazil
- Argentina
- Peru
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
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