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E-Learning Market in corporate sector to grow at 8% CAGR from 2019 to 2025

Author : Ronak Bora | Published Date : 2019-03-29 

E-Learning market growth will be driven by rising demand for cost-effective training and learning techniques in corporate and academic sectors 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.

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Growing applications of technology in academic institutes is a major factor propelling the e-Learning market. In 2018, academic sector is accounted for over 50% of the global industry share. With the increasing awareness about education and the adoption of modern solutions in several 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 offer 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 the market growth.

The developments and innovations in learning tools, delivery methods, and digital technology have revolutionized global e-learning market with regards to its revenue and profitability quotients. Increasing numbers of e-learning programs coupled with the growing prevalence of online education across a myriad range of geographies is set to carve out a lucrative roadmap for eLearning market outlook in the ensuing years. With an appreciable value holding to boast of, the global e-learning industry is expected to hit a remarkable valuation of USD 300 billion by 2025, claims Global Market Insights, Inc. Emerging corporate trends and the escalating popularity of online or internet-based learning programs are some of the pronounced factors fueling the elearning market demand globally.

Instances validating the increasing penetration of e-learning tools include the CityCab’s launch of web-based training programs to provide linguistic training to taxi drivers in order to improve their communication with the commuters. Another such move was recorded when Infosys Ltd. entered in an agreement with three firms including Udacity Inc., EdX Inc., and Coursera Inc., to train their personnel on Artificial Intelligence via e-learning tools. Reportedly, The Indian Department of Electronics and Information Technology is also embracing e-learning centered research and development activities in some of the renowned institutions including IIT and C-DAC.

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The North America e-Learning market accounted for around 40% of the industry share and is growing rapidly due to the fast-technological adoption by several organizations to provide effective training to employees. The corporate sectors are engaged in enhancing their employee training programs that result in high employee productivity. The 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.

However, taking into consideration the future scope, where niche markets will witness a strong growth potential, Asia Pacific is deemed to be another significant region to exhibit a high demand for e-learning models. Industry analysts speculate that the widespread governmental initiatives to boost literacy and educational programs especially in the rural areas have rapidly escalated e-Learning market size in the region. An example supporting this fact is the initiative taken by HRD Ministry of Government of India with regards to launching NPTEL program as an e-learning approach to pursue courses in science, engineering, and humanities. Furthermore, increasing popularity of mobile technology in the region has further provided a major push to Asia Pacific e-learning industry size.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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