The online education market and content delivery is seeing a paradigm move from content delivery to collaborative learning platforms, language training, functional skill development, expertise testing, and higher education pedagogy, video streaming of classes to corporate training, talent management, and e-governance. The effective augment in focus on m-learning, deployment of augmented reality, and cloud infrastructure implementation for hosting applications to derive scalability will generate lucrative opportunities for leading online education entities in the market.
The major factors that boost the growth of the E-Learning Market Size are less investment cost, litheness of access, and animated and interactive learning. Consumption of internet and computers form a foremost component of E-learning. Thus, the market growth is also fostered by a hike in the number of internet users and increasing access to broadband combined with mobile phones. The overview of Social, Mobile, Analytics, and Cloud (known as SMAC) technologies has also shortened the implementation of the E-learning solutions. The Cloud based learning management systems and SaaS is also one of the propelling aspects for the E-learning Market. Foremost advances in Virtual and augmented reality are booming the E-leaning market. One of the major limitations of E-learning is limited awareness of digital technology in rural areas. Also, accepting the good E-learning according to individual requirements is difficult.
Not only has this, The K12 E-Learning industry is as its growth stage across India. The industry revenue is growing with a double digit CAGR owing to Covid 19 Impact On E-Learning Market and the industry observed drastic augment in revenue and number of paid users throughout the lockdown during 2020. Augmenting the internet penetration and move in predilection from rote learning to pragmatic learning has been influencing the growth in the industry. Throughout 2020, live classes and new-age skill development courses such as coding, web development, and numerous others has obtained the traction. Fresh business models such as revenue sharing and commission model has also appeared presently.
The E-learning market can be classified in terms of application, technology, and service provider. The application based segment entails SMB’s, large enterprises, and education industry. Based on technology, the E-learning market can be sectored into online e-learning, Learning Management System (LMS), mobile e-learning, speedy e-learning, and virtual classroom. In terms of service provider, the E-Learning Market Major Players can be sectored into McGrawHill, Oracle, Desire2Learn, Apollo Education Group, Adobe Systems, NetDimensions, Cisco Systems, Pearson, Health Stream, SAP, Udacity Inc., Coursera Inc. Skillsoft, Cornerstone, and EdX Inc.
For instance, the effective growth in demand for skills in the tech industry such as virtual reality, artificial intelligence, and big data is influencing the implementation of this mode of delivery in the corporate e-learning market. Over the past few years, this has led numerous vendors to augment and expand their businesses progressively. For instance, Plural sight, a tech e-learning provider, is one of the fastest-growing entities in Utah. The packaged e-learning content market will pursue to augment as corporates’ requirement rises and requirement more agility.
At the global level, the E-learning market is increasing gradually owing to the availability of satisfactory finances to enter into partnerships with online course providers. For instance, Udacity, Inc. and Infosys Limited entered into a partnership to suggest Nano-degrees and training to their employees. During the near years, the South American E-learning market is projected to observe the effective growth as countries such as Mexico, Brazil, and Argentina will see sensitive requirement for E-learning. Melbourne Institute of Technology (MIT) provides several learning courses to Brazilian students with combined package of video content and online course material. The government of several countries such as China, India, and Japan are focusing at advancement the literacy of the populace in rural and semi-rural locations that have restricted access to educational infrastructure. Analysis of such trends can also indicate the importance as well as the growth of the E-Learning market.
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