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Elearning Market to exceed USD 375 billion in 5 years

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Elearning Market size is set to exceed USD 375 billion by 2026, according to a research report by Global Market Insights.

 

Global Market Insights: E-Learning Market size surpassed USD 200 billion in 2019 and is anticipated to grow at over 8% CAGR between 2020 and 2026. New technologies, such as cloud computing and AI, increasing internet penetration and enhanced network connectivity coupled with the convenience offered by on-demand courses will drive the market growth. 

Mobile learning, microlearning, social learning, and corporate MOOCs are the emerging trends boosting the e-learning market revenue. The increasing demand from various end-user sectors, such as healthcare, to train their employees is propelling the industry demand. The coronavirus (COVID-19) pandemic has further driven the industry demand for e-learning solutions among students and corporates.

According to the World Economic Forum, around 1.2 billion children have been out of classrooms with schools shut down globally due to COVID-19 pandemic. Learning Management Systems are helping classes to connect distantly, communicate efficiently, and stay organized. Large-scale national efforts to leverage technology in support of distance education, remote, and online learning are emerging and evolving rapidly.

  • Virtual classroom technology in the e-learning market is expected to grow at a CAGR of 11% during the same timespan.
  • Content providers segment accounted for around 60% e-learning market share in 2019.

The government sector is using video conferencing and online techniques extensively to reach out to the masses in the wake of the COVID-19 crisis: Department of Health Australia has initiated an online training module for healthcare workers that encompasses the fundamentals of infection, control & prevention of COVID-19; The World Health Organization is providing digital training to healthcare workers and administration related to virus prevention, control & hygiene. 

In 2019, the Europe dominated more than 35% of market revenue share and will witness a steady growth through 2026. The deployment of 5G technology will facilitate seamless training and learning in a digital environment for employees and students. Government organizations are encouraging the use of advanced digital learning techniques to maintain social distancing to curb the virus spread. Corporates operating in the European market are increasing to train both new and existing employees using e-learning.

The full report is available to purchase from Global Market Insights - E-learning Market Size and covers:

Base Year: 2019 Market Size in 2019: USD 200 Billion
Historical Data for: 2015 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 8% 2026 Value Projection: USD 375 Billion
Geographies covered (21): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Singapore, Brazil, Mexico, Argentina, Chile, Colombia, GCC, South Africa
Segments covered: Technology, Provider, Application, and Region
Companies covered (20): Adobe Systems Inc., Allen Interactions Inc., Apollo Education Group, Aptara, Inc., Articulate Global, Inc., CERTPOINT Systems Inc., Cisco Systems, Inc., Citrix Education Inc., City & Guilds Group, Cornerstone OnDemand, Inc., D2L Corporation, Intuition Publishing, Kallidus Ltd., Learning Pool, Meridian Knowledge Solutions, Microsoft Corporation, Oracle Corporation, Saba Software, SAP SE, Skillsoft
Growth Drivers: North America & Europe
  • Increasing demand from healthcare sector
  • Rise in content digitization
  • LMS switching to cloud-based systems
Asia Pacific & Latin America
  • Growth in higher education sectors
  • Corporates upgrading their training programs
  • Growing demand for online English courses
Middle East & Africa (MEA)
  • Rise in government programs and initiatives
  • Rising penetration of internet and mobile learning
Pitfalls & Challenges: Lack of peer to peer interaction
Slow internet connection and poor network
Adaptability Issues