Latin American E-Learning Market Witness the Adoption of SaaS-based LMS Solutions
Arizton’s recent market research report on the Latin America e-learning market identifies Kroton, Telefonica, Pearson, and BlackBoard as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by delivery mode (packaged content, LMS, and others), by learning mode (self-paced and instructor-led), by type (training and testing), by end-user (K-12, higher education, corporates, government, and vocational), and by countries (Brazil, Mexico, Argentina, Chile, Colombia, Peru, Bolivia, Uruguay, and Ecuador).
The Latin American e-learning market is estimated to reach revenues of around $3 billion by 2023, growing at a CAGR of more than 4% during 2018-2023.
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The Latin American e-learning market is divided into four major segments that consist of delivery mode, learning mode, type, end-users, and countries.
LMS segment to grow at the fastest CAGR in the Latin American e-learning market during forecast period
The Latin American e-learning market by delivery mode is segmented into packaged content, LMS, and others.
LMS segmented dominated a portion of the market share in 2017, growing at a CAGR of around 8% during the forecast period.
The introduction of advanced LMS systems enables easy collaboration of content, testing material, and information exchange among peer groups both in the academic and corporate sector in the Latin American e-learning market. Cloud-based and SaaS-based LMS solutions are gaining immense popularity in the Latin American market. These systems offer improved connectivity amongst end-users and allow corporate organizations to plan their employee career developments through these training modules in the market. The increasing adoption of the software by all small, medium and large-scale corporations will boost revenues in the Latin American e-learning market. Some of the SaaS-based applications available in the market include customer relationship management SaaS, enterprise resource planning SaaS, and human resources management SaaS.
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Corporate segment to grow at a considerable CAGR in the Latin American e-learning market during forecast period
The end-user segment in the Latin American e-learning market is classified into K-12, higher education, corporates, government, and vocational. Corporate segment occupied a significant market share in 2017, growing at a CAGR of approximately 9% during the forecast period. The incorporation of personalized learning programs by corporates will improve employee engagement and ensure continuous learning. The use of these modules for e-governance, training workforce, creating backbone connectivity, and opening source resource platforms for job-seekers will boost the revenues in this segment in the Latin American market. The large organizations are looking for training programs and content that covers compliance, IT management, and industry related courses in the Latin American e-learning market. The increasing implementation of cloud-based language learning helps to reduce travel costs, the cost of training per employee, and it also tackles time constraints. Compliance training is one of the major revenue generating area in this segment in the Latin American market. The players are offering cost-effective, efficient, and time-saving solutions to gain a larger Latin American e-learning market share.
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Ecuador to grow at an impressive CAGR in the Latin American e-learning market during forecast period
The Latin American e-learning market by geography is categorized into Brazil, Mexico, Argentina, Chile, Colombia, Peru, Bolivia, Uruguay, and Ecuador. Ecuador is one of the fastest growing regions in Latin America at a CAGR of over 13% during the forecast period. The increasing internet penetration and around 45% of the population below the age of 25 are some of the main factors attributing to the exponential growth of the Ecuadorian region in the Latin American e-learning market. The proliferation of corporate training programs in management and executive-level language proficiency is creating lucrative opportunities for top players in the Latin American e-learning market. The increasing focus on engineering, business administration, environment/energy, science, and design areas will help boost the demand in the Ecuadorian region.
The other prominent players in the Latin American e-learning market are Instructure, D2L, edX, English Attack, Estacio, Coursera, Latitude, Litmos, Open English, Veduca, Skillsoft, Docebo, McGraw-Hill, Aptara, Edmodo, Cengage Learning, Macmillan Education, and Cornerstone OnDemand.
The complete overview of the latest market research report on Latin American e-learning market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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