About the Self-Paced E-Learning Market
In self-paced e-learning students have complete control over the pace of studying, rendering it convenient. In this method of learning there are no time and place constraints. Students have flexible courses and assignment completion dates. Self-paced e-learning consists of standard packaged content and other related services, such as audio or video tutorials and classroom programs. These are either delivered independently to learners, wherein the learner accesses the course at their flexibility or through the guidance of faculty.
Technavio’s analysts forecast the global self-paced e-learning market to grow at a CAGR of 2.32% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global self-paced e-learning market for 2016-2020. To calculate the market size, the report considers revenue generated through the sales of self-paced e-learning courses and related services for a fee or through subscription to individual learners. The following products were considered while calculating the revenue generated in the market:
Technavio Announces the Publication of its Research Report – Global Self-Paced E-Learning Market 2016-2020
Technavio recognizes the following companies as the key players in the global self-paced e-learning market: 2U, Blackboard, NIIT, and Pearson.
Other Prominent Vendors in the market are: Allen Interactions, Aptara, Articulate, Cisco Systems, City & Guilds, Desire2Learn, GP Strategies, N2N Services, Saba Software, and Tata Interactive Systems.
Commenting on the report, an analyst from Technavio’s team said: “One trend that is boosting market growth is the need to develop skills. With globalization, there has been an increase in competition among corporates worldwide. In such situations, it has become essential for employees to gain competitive advantage through enhanced skills. Employees are identifying the skill requirements for their respective jobs and taking up self-paced e-learning courses beyond their regular professional commitments. For students, these courses increase their employability prospects. As such needs are in the limelight, self-paced e-learning solution providers are focusing on providing courses that are specific to an industry.”
According to the report, a key growth driver is the rise in online enrollment. According to the US Department of Education, a majority of school districts currently have students taking general classes, related to k-12 courses, that include distance-learning solutions. Over 70% of these districts plan to expand the number of courses they offer to their students. Close to 95% of all high schools in the US have students enrolled in a distance or online course. Various states of the country, such as Ohio, should spend more than $550 million on online charter schools until 2018. Other than K-12 education, higher education institutes have also seen an increase in online enrollments.
Further, the report states that one challenge that could hamper market growth is a lack of differentiation in products. Numerous LMS suppliers are present in the market competing with essentially the same product.
Cegos, Macmillan Learning, Pearson Education, and Skillsoft, Atomic Training, Cisco Systems, City & Guilds Group, DuPont Sustainable Solutions, eJ4, GP Strategies, Harvard Business Publishing, Inspired eLearning, LearnSmart, NIIT, Premier IT, Vado, Vivid Learning Systems, Vubiz, Yukon Learning.