E-learning market size
The increase in distance learning during the pandemic and the demand for low-cost and convenient learning systems are positively impacting the growth of the online learning market.
PORTLAND, OR, August 27, 2024 /EINPresswire.com/ — According to Allied Market Research's latest report, “E-Learning Market by Provider, Deployment Model, Courses, and End-User: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global e-learning market was valued at $197 billion in 2020 and is projected to reach $840.11 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.5% from 2021 to 2030.
E-learning is a form of education in which instruction is delivered through digital platforms such as pre-recorded videos and e-books. This method allows students and professionals alike to learn at their own convenience and pace. A key feature of modern e-learning platforms is the integration of artificial intelligence (AI) technologies that can convert spoken language into subtitles and transcripts. This functionality improves accessibility by allowing people, especially those with hearing impairments, to better understand the content.
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Several factors are contributing to the growth of the e-learning market, including the increasing adoption of advanced e-learning technologies and the rise of cloud-based e-learning platforms. Moreover, the increasing use of AI and machine learning within these systems is further fueling the market growth. Despite these advancements, the market faces challenges; the lack of face-to-face interaction and practical, hands-on experience in e-learning environments is preventing it from reaching its full potential.
However, emerging trends such as microlearning, gamification, adaptive learning, and mobile learning provide new opportunities for growth. These innovations are expected to drive market expansion during the forecast period.
In terms of providers, the content segment dominated the global e-learning market in 2020, accounting for around 75% of the total market share. This large proportion can be attributed to the increasing digitization efforts in both the public and private sectors, as well as the growing adoption of online instruction platforms and digital content delivery methods within various business organizations. On the other hand, the services segment is projected to achieve the highest compound annual growth rate (CAGR) of 17.5% during the forecast period. This rapid growth is driven by the ongoing transition from analog systems to digital methods of information exchange in many countries, driving the demand for e-learning services.
In terms of deployment mode, the cloud segment held the largest share in 2020, accounting for over 60% of the global e-learning market. Cloud is popular as it allows educators to store and distribute a wide range of e-learning materials in various formats, including videos, text documents, presentations, quizzes, and surveys. Moreover, as more institutions and organizations realize the benefits of cloud-based e-learning platforms, the cloud segment is expected to manifest the highest CAGR of 16.6% between 2021 and 2030.
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In terms of regional dominance, North America is expected to lead the e-learning market in 2020 and maintain its position throughout the forecast period. This leadership is driven by various factors such as economic development in the region and increasing penetration of new industries. The presence of a large number of e-learning solution providers in countries such as the United States and Canada also provides lucrative opportunities for the market. On the other hand, Asia Pacific is expected to witness significant growth, driven by the widespread adoption of e-learning solutions by small and medium-sized enterprises (SMEs) in countries such as China, India, and Singapore. These organizations are increasingly leveraging e-learning to streamline their operations and effectively manage their employees.
The COVID-19 pandemic has had a positive impact on the growth of the e-learning market. In response to the lockdown, governments around the world implemented policies to promote digital learning. E-learning quickly became a key component of education, and online assessment became a crucial part of the learning process. During the pandemic, companies and employees turned to online methods to more accurately assess knowledge, skills, and abilities. Many organizations also partnered with e-learning platforms to enhance employee skill development. For example, in July 2020, Google collaborated with the Central Board of Secondary Education (CBSE) in India to digitize classrooms. Through this partnership, Google is working with CBSE's Skill Education and Training Initiative to provide blended learning tools that combine traditional classroom teaching with online methods to one million teachers in 22,000 schools across India. Such collaborations have contributed to the growth of the e-learning market during the pandemic.
Key findings from the survey include:
1. In 2020, content providers held the largest market share in the e-learning industry.
2. North America generated the highest revenue in 2020.
3. Cloud deployment model led in terms of revenue in 2020.
Some of the prominent players in the e-learning market are Adobe, Aptara Inc., Articulate Global LLC, CERTPOINT, Cisco Systems Inc., Citrix Systems Inc., D2L Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, etc. These companies have adopted various strategies to strengthen their market presence and increase their influence within the e-learning industry.
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