The online learning market is likely to witness an absolute growth of about 110% by 2026.
The e-learning market is expected to grow at a CAGR of over 13% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global e-learning market would realize an absolute growth of around 110% in terms of revenue in the period between 2020-2026.
2. Self-paced learning mode accounted for majority share of the global market in 2020 and is expected to grow with a 14% CAGR during the forecast period.
3. In terms of delivery mode, packaged content dominates the global e-learning market in 2020. However, LMS is witnessing higher growth rate with an CAGR of over 15% during the forecast period.
4. Training segment dominated the market with around 72% share in 2020 and is expected to add over USD 138 billion during the forecast period.
5. Corporate e-learning segment dominated the market with a share of over 30% in 2020 and is expected to grow at a CAGR of over 15% during 2020-2026.
6. North America is largest market under the global e-learning market with an expected incremental revenue of over USD 62 billion with an absolute growth of around 76% between 2020-2026.
7. The US is the largest in the self-paced segment with a potential to radically influence the prospects of the global e-learning market.
8. APAC is the second largest market for e-learning, in which China accounts for the major share of around 32% in 2020.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by delivery mode, learning mode, function type, end-user, and geography
• Competitive Landscape – 9 key vendors and 47 other vendors
E-learning Market – Segmentation
• The packaged content segment occupied around 58% of the e-learning market share in 2020. Private institutional interest toward gamification is on the rise as the vendors are trying to improve the competitive edge of their pedagogy over the conventional methods. The demand for e-learning as a packaged content increases, mainly due to the desire to acquire skills amongst corporates.
• The self-paced segment is expected to maintain its dominance, witnessing an incremental growth of over USD 139 billion during the forecast period. Europe, Russia, and the UK have emerged as the major consumers of self-paced e-learning modes over the last decade.
• The training segment is projected to witness an absolute growth of approximately 104% by 2026. Computer-based training is a new-age learning method that uses special training programs designed for different tasks. Web-based training is a subset of computer-based training and is made available on the internet through web technologies.
E-learning Market by Delivery Mode
• Packaged Content
E-learning Market by Learning Mode
E-learning Market by Function Type
E-learning Market by End-user
• Higher Education
E-learning Market – Dynamics
Development in mobile applications is becoming the core strategy of majority of businesses where older education models are being replaced with revolutionary e-learning applications that have changed the process of learning. To overcome various problems faced by students from different demographics and geographical backgrounds, several features have been introduced in mobile applications to offer ease and convenience. With the help of mobile phones, learning has now become more interactive. The emergence of smartphones in the late 20th century has essentially changed the learning scenario. Smartphones are often cited as a new gateway for the growth of language learning products. These devices enable segment-wise streaming and allow the consumption of content as per the dynamic requirements of users. Mobiles applications pose a serious challenge to web platforms on account of their inherent flexibility in terms of content creation and consumption. E-learning content creators are now able to add bite-sized lessons and deploy learning modules in sprints easily in order to match the user’s daily routine.
Key Drivers and Trends fueling Market Growth:
• Growth of Blended Learning
• Increasing Use of VR & AR Applications
• Increasing Demand for Internet-enabled Devices
• Growing Need for Strong Workforce Skills
E-learning Market – Geography
North America, that includes key countries such as the US and Canada, is a key geography as it hosts the most advanced and largest economies of the world. The US and Canada, despite hosting several technological innovations, are set to grapple with massive investments required to maintain and upgrade the existing technological infrastructure setup. The demand for e-learning from the institutional segment in the region is driven by high awareness of their advantages over conventional offline learning models, better technological infrastructure, and extensive reach of innovative learning and training solutions. The same is further reinforced by technology-leveraged industries that warrant an advanced degree of language proficiency, functional, and vocational expertise, and soft skills. The high demand for e-learning solutions in the US mainly influences the market growth in North America.
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E-learning Market by Geography
• North America
• South Korea
• South Korea
• Latin America
• Middle East & Africa
• South Africa
• Apollo Education Group
• British Council
Other Prominent Vendors
• GP Strategies
• Thomson Reuters
• McGraw Hill
• Macmillan Education
• Cogna Educacao
• SAP Litmos
• Open Education
• LinkedIn (Microsoft)
• Think & Learn (BYJU’S)
• L2P (Learn 2 Play)
• Bright Little Labs
• Aula Education
• WhiteHat Security
• Age of Learning
• Elearn Australia
• Tracxn Technologies
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Source: EIN Presswire