E-Learning Market: Growth Trending Model of Education & Up-skill, and the Covid19 Impact

Updated: Oct 3

Education is the most powerful weapon which you can use to change the world.”-- Nelson Mandela

The focus on quality education is one of the key metrics across the world as the education is the key pillar for a country to have progressive growth in the future. E-learning system is contributing a major role in support to the traditional methods of education systems and up-skill at corporate levels. The basic functionality in e-learning is to use the technology & services either through online system or LMS (learning management system), or mobile applications tools, virtual classrooms, etc. to learn the contents of the academics or non-academics sectors or corporate training at a self pace or via instructor. The e-learning market has very high growth in last two decades with high level of evolution of technologies like cloud service, artificial intelligence & machine learning, and other innovative ideas. E-learning saves the cost, and is easy for users to learn through different interactive ways of learning through audio & video systems or gamification or through Virtual Learning Environment (VLE).

The digital revolution and online education plans by various public & private institutes have led the high growth of e-learning. With time, the content volume for various courses online and number of online users have increased drastically. The adoption of cloud-based platform and accessibility of internet have supported the e-learning model. At end-user level, the market is segmented as the level of users at academic and non-academic level as K12, Higher Education, Vocational training, Corporate, and Government. In current pandemic situation, the universities, schools, and academic institutes are closed which have given opportunity for e-learning market to grow at a faster rate. In this covid-19 impact, the number of users have increased for online classrooms for K12 and undergraduate students. The low cost and large number of students will also help the schools (private & government schools), universities to leverage on the economies of scale and hence more network at lower cost. The governments & non-government organisation are also taking initiatives to enable the infrastructure need at rural levels to provide education for all.


In addition, at corporate level, there are steep rise in number of employees/workforce joining different short-term courses or certification programs to up-skill or different courses to enhance their knowledge. The skill training in corporate using e-learning system also supports to higher revenue growth as it saves employees time with respect to the traditional way of learning. The corporate e-learning market is estimated to have a CAGR of 14.2% over the forecast period 2020-2025.


In the global e-learning market, the North American region dominated the market with over 39% in 2019. The rapid growth in technology, increasing number of internet users in developing nations, and governments support to the e-learning system has driven the market to a higher growth. For the period 2014-19, the global e-learning market has witnessed a CAGR of 15.53%. In the developing economies, increasing average disposable income, increasing number of smartphone users, the adoption of online education among students & vendors providing attractive subscription offers to users are supporting the high growth of the e-learning market. Asia-pacific region is estimated to have the highest growth rate of 15.2% in the forecast period 2020-2025. Training services (re-skill, up-skill, vocational training) dominated the market with approx. 70% of the global e-learning market. In Asia-Pacific, the training services is estimated to have high growth because of the more new users and high potential market in corporate. The learning of skills through e-learning will support employees, freshers, and unemployed too to scale up new career opportunities.


There are few challenges in the e-learning market in developing economies and underdeveloped nations such as lack of proper infrastructure for e-learning to students in rural areas, lack of awareness and motivation, lack of concentration & decision making skills by users to choose the right courses, abundance of free content online, etc.


The key players in the online e-learning market includes Udemy, Coursera, Byjus, Unacademy, Blackboard Inc., Skillsoft Corp., Oracle Corp., NIIT Ltd., edX, eduCBA, Pearson, LinkedIn, Udacity, Futurelearn, Skillshare, Khan Academy, etc.


In 2020, till July there was increase in investments in edtech startups by Venture Capitals. About USD 998 million was infused in 31 deals of edtech startup. Key players are also involved in merger & acquisition activities to gain the market share and take advantage of the trending growth in the market. The top tier universities are also utilising the e-learning system by making courses accessible via online platforms. Universities like Stanford University, Harvard University, Georgia Institute of Technology, Michigan State University, MIT, university of oxford, IITs (India), etc. give access to online courses under different categories. Covid19 impact has caused the higher enrolment rate through online courses, and many of these institutes are also offering low prices new courses depending on skills and executive programs for experienced workforce.


For full report, please visit the Industry reports section or mail us at sales@akiresearch.com or adityak@akiresearch.com or akiresearchandconsulting@gmail.com


E-learning Market Report key highlights:

  • Segmented by Providers, Technology, Application, Function, and Geography

  • Base Year: 2019, Estimated Year: 2020, Forecast: 2021-25 (Y-o-Y)

  • Past Years: 2014-2018

  • Key Players Competition Analysis, and Recent Developments

  • Regions: 5 (NA, SA, EU, APAC, MEA)

  • Country: 18 Major Countries + Rest of Countries in Each Region

  • Company Profiles: 10+ Major Companies

#elearning

1st image source: Needpix

: +91-8130708145

Reach Us :

Ph: +91-8130708145

(Office Hours: IST 09:00 am - 23:30 pm) 

                  mail to:

© 2020 by AKI Research & Consulting (OPC) Pvt Ltd.

Follow Us :

  • LinkedIn
  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Facebook
  • Twitter
  • Instagram