LONDON, March 15, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the self-paced e-learning market highlights technological advancement as a key trend gaining popularity in the self-paced e-learning market. Major players in the self-paced e-learning sector are focusing on technological innovations in order to gain a competitive advantage in the market by providing immersive experiences as well as fun and effective learning. For instance, in July 2022, edX, an online learning platform from 2U Inc., a US-based educational technology company, launched two Spark Augmented Reality (AR) courses with Meta Immersive Learning. These courses offer learners wider access to the tools and education required to build a career in augmented reality. The courses enable professionals to learn fundamental AR design principles and AR creation skills using Meta's Spark AR Studio software.
The global self-paced e-learning market size is expected to grow from $7.61 billion in 2022 to $8.06 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The self-paced e-learning market size is then expected to grow to $10.12 billion in 2027 at a CAGR of 5.9%.
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Per The Business Research Company’s self-paced e-learning market analysis, the expansion of STEM programs is expected to drive future growth in the self-paced e-learning market. STEM programs are broadly defined as science, technology, engineering, and mathematics programs. As self-paced e-learning STEM programs are adopted for ease and convenience, the demand for self-paced e-learning will rise in response to the expansion of STEM programs. For instance, according to the projections by the Bureau of Labor Statistics, a US-based Department of Labor fact-finding agency, STEM occupations are projected to grow by 10.5% from 2020 to 2030, speeder than the average for all occupations. In addition, these STEM occupations pay more, and sometimes even higher than the median annual wage for all jobs of $41, 950. The growth of STEM occupations indicates that there is a high demand for STEM programs and expanding rapidly. Therefore, the expansion of STEM programs will drive the growth of the self-paced e-learning market.
The global self-paced e-learning market is segmented by type into platform, content; by technology into mobile e-learning, learning management system, application simulation tool, rapid e-learning, podcasts, virtual classroom; by end user into skill training, K-12 and higher education; by application into academic, small and medium enterprises, large enterprises, other applications.
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Major players in the self-paced e-learning market are 2U Inc., City And Guilds International Limited, D2L Corporation, Houghton Mifflin Harcourt Company, Instructure Inc., John Wiley & Sons Inc., NIIT Limited, Pearson Plc., Think & Learn Private Limited, Vedantu Innovations Private Limited, Udemy Inc., Totara Learning Solutions Limited, Anthology Inc., Aptara Inc., Berlitz Corp., e-Careers Limited, Encompass Safety Solutions Limited, Learning Technologies Group Plc., Simplilearn Solutions Private Limited, StraighterLine Inc., Allen Interactions Inc., GP Strategies Corporation, Cisco Systems Inc., Pluralsight LLC, Udacity Inc., Amazon.com Inc., Alibaba Group Holding Limited, Baidu Inc., Tencent Holdings Limited, LinkedIn Corporation, and OpenSesame Inc.
North America was the largest region in the self-paced e-learning market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the self-paced e-learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Self-Paced E Learning Global Market Report 2023 –Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides self-paced e-learning market statistics and insights on the self-paced e-learning market size, self-paced e-learning market segments, self-paced e-learning market trends, drivers and restraints, self-paced e-learning industry major competitors’ market positioning, revenues and self-paced e-learning market share.
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