E-learning Market - Global Outlook and Forecast 2019-2024
The global e-learning market is expected to reach $238 billion by 2024, growing at a CAGR of 8.5% during the forecast period.
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
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