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eLearning Market size worth $1 Tn by 2028
- Published Date: April 29, 2022
eLearning Market size is set to cross USD 1 trillion by 2028, according to a new research report by Global Market Insights Inc.
The rising content digitization of educational courses will drive the e-learning demand. Players are converting information & data into digital formats to increase the accessibility of learning programs to a large set of individuals in the world. Digitization has supported companies in catering to students studying in different fields including business & management, healthcare, fashion, creative arts & media, computer science, politics, and literature. This has helped students in saving time & money and enabled the accessibility of courses from anywhere. The content digitization will further boost with rising demand from the corporate sector for online training programs.
The coronavirus pandemic has positively influenced the eLearning market growth in 2020. The rapid spread of the virus led to the imposition of lockdown regulations, resulting in the closure of schools & colleges across the globe. According to the UNICEF March 2021 report, nearly 168 million children globally were affected by the temporary closure of schools, thus affecting their in-person learning. This factor has encouraged educational institutions to switch to online platforms, such as EdModo, Google Classroom, and ClassMax, for conducting and completing regular classes on a timely basis. Growth in the demand for online learning platforms has encouraged companies to introduce new initiatives to increase their customer base.
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Growing focus on the improving the mobile e-learning user experience
The mobile eLearning market is poised to witness growth rate of around 25% through 2028 led by rising emphasis from companies on integrating advanced technologies such as AI & VR. Companies are focusing on creating a more interactive & flexible interface for students to grow their retention rates during online courses. Furthermore, the technological advancements, leading to the development of robust e-learning platforms, will fuel the market revenue.
Browse key industry insights spread across 300 pages with 349 market data tables and 39 figures & charts from the report, “E-Learning Market Size By Technology (Online E-Learning, Learning Management System (LMS), Mobile E-Learning, Rapid E-Learning, Virtual Classroom), By Provider (Service, Content), By Application (Academic [K-12, Higher Education, Vocational Training], Corporate [SMBs, Large Enterprises], Government), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Rising competition in the corporate e-learning sector with the entry of new companies
The utilization of online learning solutions in SMEs and large enterprises has impelled rapidly due to the sudden occurrence of coronavirus and resulting in the temporary closure of offices. The expanding market has encouraged new companies to enter the sector. The rising number of companies will fuel innovation and increase service affordability, thus propelling the industry growth.
Expanding education sector in Asia Pacific will offer strong growth opportunities
The Asia Pacific eLearning market size is projected to achieve around 27% CAGR through 2028 owing to education system development. Government authorities are focusing on offering world-class education to students by transitioning to digital infrastructure.
Strengthening the market position by rising the customer base forms a crucial strategy
Prominent players operating in the eLearning market include Adobe Systems Inc., FUTURELEARN Limited, Compunnel Software Group Inc., Articulate Global, Inc., Baidu Inc., Apollo Education Group, Inc., Cisco Systems, Inc., Citrix Systems, Inc., Coursera, Inc., D2L Corporation, Blackboard Inc., Docebo, Inc, Epicor Software Corporation, edX Inc, and GitHub Inc. Key participants are focusing on increasing their market presence across different educational & corporate institutes to gain a competitive position in the sector.
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