What is the size of eLearning market
The E-learning market size is expected to grow beyond USD 300 Billion according to several research reports and market surveys. The increasing demand for cost-effective training and learning techniques for corporate and academic sectors will drive the eLearning market growth over the coming years. Recent advancements in internet technologies, particularly cloud-based platform has resulted in inflexibility in content storage, accessibility, and processing. The increasing quantity of course content makes it tough for these colleges and institutions to store and handle such a large amount of data in their libraries or stores in physical forms. The electronic medium of content delivery allows these sectors to store and manage their course or business information on online websites or application platforms which can be accessed from anywhere and reduce the overall cost. The rising adoption of cloud-based platforms in the eLearning market is providing these sectors flexibility in content storage, accessibility, and processing.
North America alone will constitute 40% of the market totaling 120 Billion USD by 2025. Emerging technology like AR & VR devices, AI platforms, Big Data, machine learning, and wearable devices will aid in the growth plan and are likely to quickly take over from other conventional methods of imparting learning. The whole e-learning from this perspective can be divided into 3 classifications.
1. Technology – LMS, MOOCs, VR, AR, etc.
2. Provider – Service and Content
3. End-Use- Formal education like k12, university, etc, Corporate and Government.
The content providers operating in the market are witnessing the highest growth due to the increased demand for course materials to train or educate employees or students. These providers are partnering with companies that offer LMS solutions. Software companies are incorporating the content offered by these providers into their solutions to deliver complete training modules to end users. Uno Assignment Help is one such initiative trying to become a niche content provider. They have been providing assisted content for K12 institutions and individuals in many countries.
The corporate sector is also witnessing a very high growth rate high due to the adoption of e-learning technologies. The increased demand for effective training courses for employees is leading to a high demand for e-learning technology as well as content providers’ business. The companies are investing heavily in technology which enables its employees to understand its business policies and their job roles through an interactive medium. Most of the corporate training is convergent towards electronics medium away from the traditional techniques like conferences and workshops. Webinars and online video-serving platform had a significant growth rate in the last couple of years and now poses a mainstream content delivery mechanism.
The adoption of mobile learning technology is witnessing a fast adoption in the e-learning market with the increased penetration of smartphones. Several companies are now developing application-based knowledge platforms which allow smartphone, users, to gain insight into any topic in real-time. Some institutions and universities are developing their own mobile-based applications that allow students to get access to lectures and other study materials. These technologies allow schools to enhance the logical & reasoning skills and IQ of their students.
When we talk about geographies like India the e-learning growth is much higher compared to other nations. More and more Indians are receiving training through e-learning. The academic e-learning market will reportedly register a CAGR of over 10 percent by 2025 compared to a global growth rate of 10%. There remain many challenges in the adoption of e-learning in India nonetheless, the future for e-learning in India seems bright.
The e-learning market is currently propelled by the growing applications and other relevant technology in academic institutes. The academic sector alone comprises 50% of the global share of the e-learning market. The literacy rate is growing rapidly with the extensive use of modern solutions in several universities, schools, and colleges. Education centers are providing a digitized platform for learning and interaction not only to the students but also to anyone who wishes to learn. The new solution around electronic media offers deep and clear insights into academic courses, subjects, and topics. These are the gamuts of e-learning solutions which is expected to rise to above 300 billion USD market by 2025.