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THE E-LEARNING MARKET IS EXPECTED TO REACH $238 BILLION BY 2024, GROWING AT A CAGR OF 8.5% DURING THE FORECAST PERIOD.
E-Learning Market Size, Share, & Trends Analysis Report By Delivery Mode (Packaged Content, SaaS/LMS, Others), By Learning Mode (Self-paced, Instructor-led), By Type (Training, Testing), By End-user (K-12, Higher Education, Corporates, Government, Vocational), By Geography (Europe, North America, Latin America, Middle East Africa, and APAC) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024.
Browse through the entire Table of Contents, List of Exhibits, & Charts
Continuous learning requirements for students and professionals to enhance core competencies, groom aptitude, and increase talent migration have increased the scope of the global e-learning market. The growing penetration of the internet and smartphones is revolutionizing the market. Further, the evolving cloud infrastructure and low prices of data packs are turned out to be significant drivers for increasing reach. Smartphones are likely to become a main learning medium for professionals as they not only overcome the limitation of time and place but also facilitate better collaboration than static web platforms.
Also, the growth of the corporate online learning industry, which constituted over $40 billion in revenue in 2018, due to increased emphasis on talent enchantment and employee retention, stands a major boost for the e-learning industry.
The introduction of AR and VR in learning and the increasing trend of going mobile and going social is further expected to drive the digital learning market. Vendors are likely to focus on the adoption of m-learning technology, deployment of augmented reality, and the application of cloud hosting infrastructure are the key factors that are expected to accelerate the growth. Also, the growing popularity of blended learning that enhances the efficiency of learners will drive growth.
The global e-learning market size is expected to reach around $238 billion by 2024, growing at a CAGR of more than 8% during the forecast period.
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E-LEARNING MARKET: SEGMENTATION
The research report includes a detailed segmentation of the market by delivery mode, learning mode, type, end-user, and geography.
INSIGHTS BY DELIVERY MODE
Easy accessibility and cost-effectiveness are the key factors responsible for high shares of the packaged content segment. As this mode of content delivery is inexpensive with a wide reach, this mode of learning is highly popular among students and professionals.
However, the learning management system (LMS) segment is growing at a faster CAGR. This mode of learning is becoming widespread, especially among corporates, as they are adopting SaaS-based LMS to train employees for career enhancements.
North America and APAC are the two foremost revenue contributors to the packaged content and learning management system segments, and these two regions are likely to drive the e-learning market during the forecast period.
Other essential learning models such as video-based learning, gamification, and virtual classrooms are increasing their shares slowly due to their high engagement levels and perceived effectiveness.
INSIGHTS BY DELIVERY MODE
The growing awareness among work professionals to enhance skill-based proficiency has immensely contributed to the growth of the self-paced learning mode segment. Another key factor driving the segment is the high preference for continuous learning to scale new career opportunities among people. Learners are increasingly opting for course, which help them to grow aptitude and career prospects. Russia and the UK have emerged as the major consumers of self-paced e-learning in the last decade.
Instructor-led e-learning has witnessed promising growth prospects in the online learning industry globally as this mode of learning offers time and cost-saving opportunities without compromising on efficiency or productivity. North America dominated the e-learning market by learning mode in 2018 and is expected to continue its dominance during the forecast period. However, there are several other factors, which are aiding the growth of the segment, that include:
- Increased capacity and scalability in the learning process
- Increased diversity
- Modular curriculum designs
INSIGHTS BY FUNCTION
Training and testing constitute a crucial aspect of any pedagogy. The training segment captured around three-fourths of the shares in 2018. Training involves interaction with users through courseware or LMS systems. The requirement to train individuals/employees to perform specialized tasks effectively is a significant factor for the growth of the training segment. The governmental-related and academic training market was estimated at $106 billion in 2018. However, in terms of CAGR, testing services are estimated to outgrow training services. Ease-of-use, content accuracy, instructional integrity, user satisfaction, and technological soundness are the factors ensuring the growth of the test services segment.
INSIGHTS BY END-USER
K-12, higher education, corporates, government, and vocational are the major end-user segments. Talent enhancement and employee retention have contributed significantly to the growth of the corporate segment, which dominates the digital learning market globally. However, K-12, higher education, and vocational segments are expected to drive the growth during the forecast period. These segments are involved in learning management solutions that can streamline and deliver the courseware effectively. Further, gamification, blended learning, and m-learning are some of the key trends characterizing vocational learners. There has been a high demand for diverse content from the segment, ranging from language learning to functional subjects such as web development, engineering, sciences, and commerce and finance.
INSIGHTS BY GEOGRAPHY
The maturity of primary and secondary educations systems, corporate learning and training expenditure, federal budgetary allocations to education, literacy rates, and cultural inclinations are likely to increase the popularity of the e-learning market worldwide.
The efficient learning infrastructure and the proliferation of modern learning methods are the foremost reasons for the high share of the North America learning market. However, the APAC region, especially India and Southeast Asia and MEA, represents a huge growth potential for education industry revenue. Nowadays, vendors are focusing on offering learning modules with high engagement levels, customization, and rich content to gain the e-learning market share. The scope of e-learning programs in European education systems is a crucial factor for the growth in Europe. Government agencies and corporates are displaying a keen interest in the adoption of learning programs. The increasing trend to invest in e-learning subscriptions and online courses is expected to generate potential revenue opportunities for e-learning vendors. The launch of several major educational initiatives is expected to increase the share of the training segment in the Europe region during the forecast period. The high involvement of the millennial population in professional and personal learning course is a vital factor of the Latin American e-learning market. The Brazilian region is maturing with the academic segment witnessing gradually stagnation. However, the corporate and vocational E-Learning segments are likely to display substantial growth during the forecast period. Lastly, the MEA region is investing in educational reforms and skill enhancement in its population. The increased investment by government agencies in primary and higher education is a main factor for the learning sector. The popularity of e-learning platforms, especially gamified and SaaS-based ones, is expected to drive the market in the Middle East.
Key Countries Profiled
- South Africa
- South Korea
KEY VENDOR ANALYSIS
The global e-learning market is primarily driven by leading vendors that occupy large market shares. The introduction of several modules of LMS, packaged content, and amplified learning courses will help prominent players to attract a broad customer base from different end-user segments. The launch of freemium offerings with attractive short-term subscription pricing and the increasing investment for product development are offering new opportunities for new entrants in the market. Further, setting the right price to effectively gauge and capture the marginal utility of the potential consumer will be a major strategic challenge for vendors in the global e-learning market in the coming years.
- Apollo Education Group Inc.
- BlackBoard Learn
- Pearson PLC
- The British Council
The E-Learning market research report includes in-depth coverage of the industry with growth rates, revenues & forecasts for the following segments:
By Delivery Mode
- Packaged Content
By Learning Mode
- Higher Education
- North America
- South Korea
- Latin America
- South Africa
KEY QUESTIONS ANSWERED
- WHAT IS THE GLOBAL E-LEARNING MARKET SIZE AND GROWTH FORECAST?
- HOW IS THE DEMAND OF E-LEARNING IN THE KEY COUNTRIES?
- WHAT ARE THE KEY SEGMENTS OF E-LEARNING MARKET AND THEIR GROWTH FORECAST
- AT WHAT CAGR WIL SELF-PACED E-LEARNING MARKET EXPECTED TO GROW?
- WHO ARE THE VENDORS AND THEIR MARKET SHARE
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