E-Learning Market Assessment
E-learning involves the use of electronic or digital mediums for educational and/or training purposes. According to a December 2020 Global Newswire report, “the global E-learning Market was estimated at USD 144 Billion in 2019”. It is also expected to be worth 375 Billion USD, growing at a rate of 8% CAGR from 2020 to 2026. E-learning platforms are also expected to continue to utilize cloud capabilities in order to benefit providers and end users. As Internet access has increased worldwide so has the demand for digital services such as e-learning platforms.
Emerging trends that are boosting the global e0learning market include shifts towards mobile learning, microlearning, social learning, and shits towards corporate sponsored massive open online courses. The coronavirus pandemic has also driven demand for digital solutions. Over 1.2 million students are no longer attending brick-and-mortar schools to slow down the spread of the highly contagious virus. In lieu of traditional classrooms, educational institutions have turned to the digital classroom to facilitate learning.
The demand for digital training courses has increased for corporations as well. E-learning provides and accessible solution to training employees that can also save companies and employees time and money. There is also a desire for interactive features in virtual classrooms. Video conferencing technology such as Zoom have seen an increase in demand by the general public because of its virtual conferencing features. Virtual conferencing can allow educators and students to connect more easily. It can also help to boost collaborative efforts in the workplace and working becomes increasingly more digital.
The countries driving the demand in the E-learning market include the U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Singapore, Brazil, Mexico, Argentina, Chile, Colombia, GCC, South Africa. Market demand in North America and the US is largely influenced by an increased demand for accessible digital solutions for traditional education in sectors like healthcare. There has also been in increased desire to hybridize education, integrating digital content into traditional classroom learning. There has also been a large shift to learning management systems (LMS) to facilitate the majority of employee training for businesses in those regions. For markets in Asia and Latin America, demand for digital education solutions has largely been influenced by the rapid growth of higher education in the region as well as digitalizing workplaces and a demand for accessible English language courses. For the Middle East and Africa, demand has been driven by an increase in government sponsored educational programs and initiatives as well as an increased use of mobile devices for learning.
Challenges to the E-learning market include the lack of internet connectivity for large swaths of the public. Poor internet access affects people ability to gain the most out of digital services. Adaptability also poses a challenge, as many workplaces and educational institutions still struggle to update their environment to operate in the digital world. Loss of human connectivity also affects the E-learning market. Solutions to these issues could include hybridizing classrooms as well as increasing global access to high quality internet connection.
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