Selbyville, DE (USA), June 2019 - The eLearning market is set to grow from its current market value of more than $190 billion to over $300 billion by 2025, as reported in the latest study by Global Market Insights, Inc.
The rise in the demand for cost-effective training and learning techniques in the corporate and academic sectors will drive the eLearning market growth over the coming years. The increasing volume of course content makes it difficult for these sectors to manage and store such a large amount of data in their libraries or stores. The electronic medium of content delivery allows these sectors to store and manage their course or business information in online websites or application platforms.
The rising adoption of cloud based platforms in the eLearning market is providing these sectors flexibility in content storage, accessibility, and processing. Some major advantages of the cloud learning platform include remote access, security, data backup, and cost-effectiveness. Moreover, the technology allows content delivery and access to students that is easier than depending on the books and course materials.
Mobile learning technology is witnessing fast adoption in the eLearning market with the increased use of smartphones. Several application based knowledge platforms are being developed that allow smartphone users to gain insights into any topic in real time. Some educational institutes and universities develop their own mobile based applications that allow the students to log in to the student portal and get access to missed lectures. The major mobile applications being used in corporate sectors include Udemy, Skill Pill, DesignJot, and BoostHQ.
Growing deployment of technology in academic institutes is a major factor propelling the eLearning market. In 2018, the academic sector accounted for over fifty percent of the global industry share. With increasing awareness about education and the adoption of modern solutions in numerous schools, universities, and colleges, the literacy rate is growing rapidly.
Education centers are providing a digitized platform for learning and interaction to the students that offers deep and clear insights into academic courses, subjects, and topics. It allows teachers and guest lecturers to showcase the practical implications of the topic with the help of videos, pictures, and other interactive mediums. Moreover, the increased number of distance learning centers will drive the adoption of electronic education techniques, boosting market growth.
The North America eLearning market accounted for around forty percent of the industry share and is growing rapidly due to the fast technological adoption by many organizations seeking to provide effective training to employees. The corporate sectors are engaged in enhancing their employee training programs that result in high employee productivity. Large organizations are incorporating software-based technologies to monitor and analyze the daily or weekly performance of their staff.
However, small companies are finding it difficult to incorporate these high-cost solutions in their enterprises. Such factors have encouraged service providers to offer LMS hosted services to these SMBs. This is allowing companies to either host these solutions in their organizations’ servers or use software as a service (SaaS) hosting. Moreover, content developers in the region are offering training modules with a high degree of customization, engagement levels, and content quality, driving competition in the eLearning market.
Key companies operating in the eLearning market include Aptara, Inc.; Adobe Systems, Inc.; Cornerstone; Citrix Education; Meridian Knowledge Solutions; Microsoft Corporation; SAP SE; NetDimensions; Oracle Corporation; Cisco Systems, Inc.; Learning Pool; Apollo Education Group; CERTPOINT Systems, Inc.; and Allen Interactions, Inc., among others.