Global eLearning Market to value $1 trillion by 2028, Says Global Market Insights Inc.
SELBYVILLE, Del., May 2, 2022 /PRNewswire/ — Major eLearning market participants include FUTURELEARN Limited, Adobe Systems Inc., Apollo Education Group, Inc., Articulate Global, Inc., Baidu Inc., Blackboard Inc., Cisco Systems, Inc., Citrix Systems, Inc., Compunnel Software Group Inc., Coursera, Inc., D2L Corporation, Docebo, Inc, edX Inc, Epicor Software Corporation, and GitHub Inc.
The e-learning market is expected to surpass USD 1 trillion by 2028, as reported in a research study by Global Market Insights Inc. The industry growth can be attributed to the increasing content digitization of various courses.
The rising demand from the healthcare sector for online education programs will drive the content provider market. Students in this field are looking for interactive online sessions for a better understanding of their courses. To cater to the rising demand, companies are emphasizing on introducing digital learning resources. For instance, in December 2021, Manipal Global Education Services unveiled the Manipal MedAce, a digital assessment & learning resource for MBBS students. The availability of industry-specific online content will boost the demand for e-learning solutions.
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The application of e-learning solutions will increase across government institutes through 2028. Governing authorities are offering online courses to different departments to upskill their workforce at a rapid pace. The availability of cloud based LMS software enables them to monitor the progress of individuals/divisions from a single platform. For instance, the U.S. Food and Drug Administration (FDA) Office of Training Education and Development offers free training sessions to local, state, tribal & territorial regulatory partners. Individuals can directly visit their Pathlore LMS portal to view the different types of courses available. The resource scalability offered by e-learning platforms has encouraged government bodies to focus on online courses.
The MEA e-learning market revenue will witness growth stimulated by rising investments in start-ups across the industry. For instance, in December 2021, Englease.com raised about USD 3.4 million in a seed funding round led by LearnStart and LearnCapital. Through this investment, the company plans to accelerate the development of its live class technology and expand its market presence across different countries. The development of SMBs in the market will fuel competition across the industry. This will propel technological advancements, improve affordability, and increase accessibility of the online course to a wide set of individuals & corporates, thus driving the market growth.
Some major findings of the e-learning market report are:
The increasing number of government initiatives for the digital transformation of the education sector will spur market growth. Through this, authorities are focusing on delivering educational courses to a large set of students.
A growing focus on R&D activities to introduce new technologies in the sector will foster the industry growth. Companies are focusing on expanding their solution & service offerings to strengthen their positioning in the industry.
Developing IT & telecom infrastructures across the globe are resulting in the growing access to affordable and secure internet connections, which will create growth opportunities for the market. The availability of internet services will allow people to use e-learning platforms for completing their degrees & courses.
The increasing demand from the corporate sector for upskilling their employees will augment the adoption of e-learning platforms across SMBs and large enterprises. These platforms support companies in keeping track of their workers’ training process and store information more efficiently.
The rising demand for online English courses from countries, such as China, India, South Korea, & Taiwan, will enhance the market growth. Individuals from developing countries are learning the language to clear the standardized test and gain a seat in foreign universities for higher education.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 E-learning industry 360º synopsis, 2018 – 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Technology trends
2.1.4 Providers trends
2.1.5 Application trends
Chapter 3 E-learning Industry Insights
3.2 Impact of the coronavirus (COVID-19) pandemic
3.3 Ukraine–Russia war impact
3.4 Industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Investment landscape
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
126.96.36.199 North America & Europe
188.8.131.52.1 Increasing demand from the healthcare sector
184.108.40.206.2 Rise in content digitization
220.127.116.11.3 LMS switching to cloud-based systems
18.104.22.168 Asia Pacific & Latin America
22.214.171.124.1 Growth in higher education sectors
126.96.36.199.2 Corporates upgrading their training programs
188.8.131.52.3 Growing demand for online English courses
184.108.40.206 Middle East & Africa (MEA)
220.127.116.11.1 Rising government programs and initiatives
18.104.22.168.2 Rising penetration of internet and mobile learning
3.8.2 Industry pitfalls & challenges
22.214.171.124 Lack of peer-to-peer interaction
126.96.36.199 Slow internet connection and poor network
188.8.131.52 Adaptability issues
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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