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eLearning Market in corporate sector to grow at 8% CAGR 2019 to 2025

Author : Ronak Bora | Published Date : 2019-04-08 

eLearning Market will be fuelled by emerging corporate trends and the escalating popularity of online or internet-based learning programs during the forecast period. 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 e-Learning market outlook in the ensuing years.

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The eLearning market consists of a large number of service providers that are offering different types of services to the customers. With technological advancements and innovations in the industry, these providers are expanding their service offerings that use these advanced solutions. Several players are offering mobile-based and gamified services, which help the learner to be updated through an interactive medium. These providers are competing based on the diversification in their offerings. For instance, Netsmartz provides different types of services to its customers that include mobile e-learning solutions, gamified e-learning, animation & simulation, consultancy, and course builders, among others. These companies are partnering with large corporations and universities to offer their innovative services around the world, accelerating e-learning market growth.

The increasing popularity of social media platforms among people is providing a great opportunity to players in the e-learning market to offer their offerings through these mediums. The online course providers are engaged in collaborating with these social platforms for delivering their content or information about the course through closed or open groups, web pages, blogs or community. For instance, LinkedIn, a social network platform proved to be extremely useful for online learning. The platform consists of several groups and discussions in different languages, where educators, instructors, and influencers share their problems, views, and development tips. Moreover, the players also utilize these social networking platforms to advertise their service offerings, thereby providing an impetus to eLearning market growth.

Gamification is one of the recent trends characterizing the innovation landscape of eLearning market as this category of education has recorded a rather high rate of engagement by the learners along with providing a better understanding of the related concepts.  The recent implementation of this trend was through McDonald’s, when the company partnered with City & Guilds Kineo to provide the till training on how to use a cash register. Reportedly, the process turned out to be highly effective and purposeful. The training involved real-time situations that required the learner to take customer orders in timed environment. As per reliable sources, over 85% of the users believed that learning via gamification learning helped them in better understanding new systems and improved their overall performance.

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Speaking along similar lines, North America, being one of the mature regions pertaining to the eLearning market penetration, is expected to be one of the most remunerative grounds for the global industry landscape over the coming years. Escalating adoption of m-learning and e-learning tools, which are becoming a preferred and viable choice for the corporate training programs, is one of the major factors driving the regional trends. Moreover, having an upper hand with regards to technological innovations, the region will further procure a major chunk of the global e-learning market share. As a matter of fact, North America, aided by the escalating product adoption by numerous organizations that intend to provide effective training to employees for high productivity, captured an appreciable 40% of the e-learning market share in 2018.

Studying English through eLearning for several students is of interest owing to the need to save money & time and to study at a suitable time of choosing which is making the courses in Latin American market an attractive option. In addition, it is appealing students as a way of gaining additional support for a classroom-based courses. Frontier and emerging markets, such as the Brazil market is observing a rise in private HEIs. The formation of a new and improved education system has been one of the most unified developments in the education sector in Brazil over the last few years. The Brazil government has undertaken various programs that is aiding eLearning market growth. In 2016, of the 50 million higher education students, approximately 3 million students were enrolled in distance learning courses.

The global eLearning industry is characterized by high degree of fragmentation and involves greater participation of key as well as the niche market players. The rapid growth of interactive tools and meteoric shift toward technology-centric learning have created huge opportunities as well as challenges for the global leaders to develop more innovative techniques and solutions. Prominent industry players participating in the competitive hierarchy of e-Learning market include Apollo Education Group, McGrawHill, Oracle Corp, Desire2Learn, HealthStream, Coursera Inc., SAP, Adobe systems, Cisco Systems, and Pearson. Further analyzing the future scope, industry analysts project eLearning market remuneration to hit a massive USD 300 billion by 2025.

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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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