e Learning Market Size to Grow USD 15,000 Million by 2028 at a CAGR of 6.5%. | Valuates Reports

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09 Jun, 2022, 18:30 IST

BANGALORE, India, June 9, 2022 /PRNewswire/ -- The e-Learning Market is Segmented by Type (Cloud-Based, On-Premise), by Application (Academic, Government, Corporate): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Education Category.

The 2021 global e-learning market revenue is about USD 15,000 Million. The expected CAGR of 2021-2028 is 6.5%.

Major factors driving the growth of the Online Learning Market are:

The COVID-19 outbreak, the ability to access educational information from anywhere, the growing desire for deeper insights into learners' behavior, the demand for immersive learning experiences, and the personalization of learning content are all likely to propel the online learning market forward.

As employee safety concerns have grown, the Corporates have been pushed to establish work-from-home techniques to continue daily operational tasks. This has caused challenges for organizations in terms of training, communication, progress monitoring, and upskilling, resulting in a surge in demand for online learning platforms from both large corporations and small businesses. To satisfy the increased demand, several organizations are concentrating on building personalized learning solutions.

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TRENDS INFLUENCING THE GROWTH OF THE E-LEARNING MARKET

The e-learning market is changing, with more collaborative and inclusive approaches taking hold. Traditional offline learning and eLearning could go hand in side in the post-COVID-19 future, enriching the whole education experience for both young learners and adults. To keep learners interested, the industry is rapidly shifting toward more engaging formats that use modern technology such as AI, AR/VR, and gamification. To ensure an efficient and beneficial learning experience, it is critical to provide students with a pleasant and unique manner to study.

The e-learning market is predicted to grow in response to the growing need for corporate training. Knowledge transmission is at the heart of corporate training. For example, conferences and workshops are vital but expensive parts of the business, and e-learning makes them more economical and efficient employees. E-learning can save money by offering training in a shorter amount of time, which is especially advantageous when staff is spread out over the world. By incorporating learners as participants in the creation of new information that helps an organization grow and progress, corporate education, on the other hand, gives training a new dimension and depth.

The growing demand for Soft Skills Training is expected to drive the e-learning market. Among the most important workplace skills are critical thinking, problem-solving, people management, and creativity. Employers are looking for young professionals who can make difficult decisions and show leadership potential. Students and working professionals are turning to online websites for soft-skill training. This factor is expected to propel the e-learning market forward.

Employee training is becoming increasingly important to government entities around the world. This is also because they are competing with the private sector, which has gone to considerable pains to integrate cutting-edge technologies. In order to compete with private enterprises, government agencies must train their staff. Thus the increasing adoption of online learning by government organizations is expected to drive the growth of the e-learning market.

The need for micro-credentials and lifelong education is likely to drive growth in the e-learning market. These are often low-cost courses that cover a tiny fraction of the subject matter in a short amount of time. These types of micro-credentials could help overseas students save money while learning important skills for new sectors.

Furthermore, the gamification trend is expected to further fuel the e-learning market growth. While gamification can be beneficial for learning on its own, game-based learning dramatically improves the effectiveness of online learning aids. According to research, game-based learning can assist students in strategizing, improving problem-solving skills, and rethinking their previous approaches to a task in order to enhance future ways.

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E-LEARNING MARKET SHARE:

Based on product, Cloud-Based is the largest segment, with a share of over 70%. Cloud-based eLearning has cheaper startup expenses because they do not require the purchase of software. You won't have to spend time or resources installing programs, fixing bugs, or ensuring that software is installed throughout the firm.

Based on application, the largest application is Academic, followed by Corporate, Government, etc. Many educational institutions turned to eLearning providers for help in overcoming many of their issues, as eLearning is easier to operate and regarded as more engaging.

Based on region, Asia-Pacific is predicted to have considerable growth due to an increase in the use of e-learning services and the deployment of cloud-based smart learning solutions.

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TOP COMPANIES IN THE E-LEARNING MARKET

E-Learning key players include Benesse, Justsystem, NetLearning, Oracle, SAP, etc. These top five manufacturers held a share of about 45%.

Other Leading Companies in eLearning Industry

  • Skillsoft
  • Adobe
  • SAI Global
  • Cornerstone
  • NAVEX Global
  • John Wiley and Sons
  • Japan Foundation
  • Infor
  • Articulate
  • Udemy
  • Pearson
  • EDX
  • Atama Plus
  • Smart Education
  • Schoo
  • StreetAcademy
  • CLEAR
  • Surala Net
  • Coursera
  • Udacity
  • Eden
  • Proseeds
  • Paiza
  • Skillshare
  • LinkedIn
  • Pluralsight
  • Uicommons
  • LIGHTWORKS

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