The global e-learning market is expected to reach $238 billion by 2024, growing at a CAGR of 8.5% during the forecast period.
CHICAGO, IL, UNITED STATES, August 13, 2019 /EINPresswire.com/ — The global e-learning market is driven by the growing demand for optimized content developed and designed to meet the requirements of the end-users and consumers in the global market. The adoption of the self-paced learning module by the corporate sector will revolutionize the global market during the forecast period. The maturity of primary and secondary educations systems, corporate learning and training expenditure, federal budgetary allocations to education, literacy rates, and cultural inclinations are likely to increase the popularity of e-learning market worldwide. The introduction of AR and VR in learning and the increasing trend of going mobile and going social are further expected to drive the digital learning market. Nowadays, vendors are focusing on offering learning modules with high engagement levels, customization, and rich content to gain the e-learning market share. Vendors are likely to focus on the adoption of m-learning technology. The increasing trend to invest in e-learning subscriptions and online courses is expected to generate potential revenue opportunities for e-learning vendors.
This market research report on the e-learning market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The research report includes insights on market segmentation by delivery mode (packaged content, SaaS/LMS, and others), learning mode (self-paced and instructor-led), type (training and testing), end-user (K-12, higher education, corporates, government, and vocational), and geography (North America, APAC, Europe, MEA, and Latin America).
The study considers the present scenario of the global e-learning market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
E-Learning Market: Segmentation
The research report includes a detailed segmentation of the market by delivery mode, learning mode, type, end-user, and geography. Easy accessibility and cost-effectiveness are the key factors responsible for high shares of the packaged content segment. However, the learning management system (LMS) segment is growing at a faster CAGR. This mode of learning is becoming widespread, especially among corporates, as they are adopting SaaS-based LMS to train employees for career enhancements. Other essential learning models such as video-based learning, gamification, and virtual classrooms are increasing their shares slowly due to their high engagement levels and perceived effectiveness.
The growing awareness among work professionals to enhance skill-based proficiency has immensely contributed to the growth of the self-paced learning mode segment. Another key factor driving the segment is the high preference for continuous learning to scale new career opportunities among people. Learners are increasingly opting for course, which help them to grow aptitude and career prospects. Russia and the UK have emerged as the major consumers of self-paced e-learning in the last decade. North America dominated the e-learning market by learning mode in 2018 and is expected to continue its dominance during the forecast period.
The training segment captured around three-fourths of the market in 2018. The requirement to train individuals/employees to perform specialized tasks effectively is a significant factor for the growth of the training segment. However, in terms of CAGR, testing services are estimated to outgrow training services. Ease-of-use, content accuracy, instructional integrity, user satisfaction, and technological soundness are the factors ensuring the growth of the test services market.
Talent enhancement and employee retention have contributed significantly to the growth of the corporate segment, which dominates the e-learning market globally. However, K-12, higher education, and vocational segments are expected to drive the market during the forecast period. Further, gamification, blended learning, and m-learning are some of the key trends characterizing vocational learners. There has been a high demand for diverse content from the segment, ranging from language learning to functional subjects such as web development, engineering, sciences, and commerce and finance.
Market Segmentation by Delivery Mode
• Packaged Content
Market Segmentation by Learning Mode
Market Segmentation by Type
Market Segmentation by End-user
• Higher Education
E-Learning Market: Geography
The efficient learning infrastructure and the proliferation of modern learning methods are the foremost reasons for the high share of the North America e-learning market. However, the APAC region, especially India and Southeast Asia and MEA, represents a huge growth potential for education industry revenue. The scope of e-learning programs in European education systems is a crucial factor for the growth of the e-learning market in Europe. The launch of several major educational initiatives is expected to increase the share of the training segment in the Europe e-learning market during the forecast period. The high involvement of the millennial population in professional and personal learning course is a vital factor of the Latin American e-learning market. The Brazilian market is maturing with the academic segment witnessing gradually stagnation. However, the corporate and vocational e-Learning segments are likely to display substantial growth during the forecast period. The popularity of e-learning platforms, especially gamified and SaaS-based ones, is expected to drive the e-learning market in the Middle East.
Market Segmentation by Geography
• North America
o South Korea
• Latin America
o South Africa
Key Vendor Analysis
The global e-learning market is primarily driven by leading vendors that occupy large market shares. The introduction of several modules of LMS, packaged content, and amplified learning courses will help prominent players to attract a broad customer base from different end-user segments. The launch of freemium offerings with attractive short-term subscription pricing and the increasing investment for product development are offering new opportunities for new entrants in the market. Further, setting the right price to effectively gauge and capture the marginal utility of the potential consumer will be a major strategic challenge for vendors in the global e-learning market in the coming years.
Major Vendors in the Market
• Apollo Education Group Inc.
• BlackBoard Learn
• Pearson PLC
• The British Council
• Cengage Learning
• Cornerstone OnDemand Inc.
• English Attack
• Latitude CG
• LinkedIn (Microsoft)
• Macmillan Education
• McGraw-Hill eLearning Group
• Open English
• Think and Learn (BYJU’s)
• Bright Little Labs
• Aula Education
• WhiteHat Security
• Aveti Learning
• Age of Learning
• eLearn Australia
Key Market Insights
1. The analysis of the market provides market sizing and growth prospects during the forecast period 2019–2024.
2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the e-learning market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of e-learning market segments and the regional outlook of the market.
5. The study offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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Source: EIN Presswire