E-learning Market Size

The global e-learning market is primarily driven by a surge in the adoption of smartphones & cellular technology and the growing adoption of remote learning.

PORTLAND, PORTLAND, OR, UNITED STATES, February 19, 2024 /EINPresswire.com/ -- As per the report, the global e-learning industry is expected to generate a revenue of $840.11 billion by 2030. The market was valued at $197.00 billion in 2020 and is anticipated to grow at a CAGR of 17.5% during the 2021-2030 period.

E-learning is type of learning where teaching is done through purely digital means such as recorded videos and e-book. E-learning helps students and workers to learn at their own pace and time. In addition, many e-learning platforms have integrated AI technology to convert ‘spoken language into captions and transcripts’, thus helping the hearing-impaired comprehend the subject easily. Furthermore, the key factor that drives the market include rise in the adoption of advanced e-learning systems and an increase in the adoption of cloud-based e-learning platform.

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Increasing penetration of smartphones and cellular technology is anticipated to drive the growth of the global e-learning market. Also, a rising shift towards remote learning will help in augmenting the growth rate of the market. On the contrary, lack of interaction with teachers and fellow students might create hurdles in the growth of the market. Nonetheless, the cost-effectiveness of e-learning models is anticipated to create numerous investment opportunities in the market.

By provider, the content segment held the highest market share in 2020, with nearly three-fourths of the market. Growing digitization in public and private enterprises, along with rising adoption of online tutoring by several organizations will help in the growth of the segment. The service segment, however, is anticipated to have the highest CAGR of 17.5% in the analysis timeframe. Increasing shift of different countries from analog to digital information exchange will strengthen the segment’s position.

By deployment mode, the cloud segment accounted for the largest market share in 2020, with around three-fifths of the total market. The ability of cloud services to upload huge content in different formats including videos and texts will augment the growth of the segment. Also, the cloud segment is expected to have the fastest CAGR of 16.6% during the forecast period.

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Region-wise, the e-learning market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to several factors such as the penetration of new industries and improvement in the economy. In addition, the presence of a growing number of e-learning solution vendors across the U.S. and Canada is expected to provide lucrative opportunities for the E-learning market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to wide presence of small and medium-scale organizations, which are turning toward e-learning solutions to efficiently manage their business processes, particularly in developing countries such as China, India, and Singapore.

The outbreak of COVID-19 is anticipated to have a positive impact on the growth of the e-learning market. This is attributed to the designing and implementation of government policies intended to promote learning during the lockdown. In addition, e-learning became an integral part of the learning process and COVID-19 has made online assessment practices essential for learning. Furthermore, during the pandemic period, employees and organizations desperately look for online methods for accurately analyzing learner’s knowledge, ability, and skill for better assigning of work.

Moreover, many global organizations partnered with e-learning platforms to identify and improve the skill of their employees. For instance, in July 2020, Google partnered with Central Board of Secondary Education (CBSE) to digitize classrooms in India. With the partnership, Google is expected to work with CBSE Skill Education and Training to allow one million teachers in 22,000 schools in India to deliver blended learning that combines the classroom approach with online learning. Thus, growth in number of such collaborations drives the growth during the COVID-19 pandemic.

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Major companies in the market:

• Aptara Inc.
• Cisco Systems, Inc.
• D2L Corporation
• Articulate Global, LLC
• Citrix Systems, Inc.
• Microsoft Corporation
• CERTPOINT
• Adobe
• Oracle Corporation
• SAP SE

The report focuses on growth prospects, restraints, and trends of the e-learning market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the e-learning market share.

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