E-learning Market Outlook 2031
The Global E-learning Market size was valued at USD 271.98 Billion in 2022 and is likely reach to USD 1.16 Trillion by 2031, expanding at a CAGR of 17.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to various emerging technologies, including artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and cloud-based learning management systems (LMS).
E-learning is a standard learning approach based on online tools. The use of computers and the Internet are key components of E-learning, as teaching takes place in or out of the classroom. Many firms undertake training programs for workers all around the globe and e-learning has become a significant instrument in the corporate sector.
It helps students learn complicated theories, concepts, and subjects easily. Emerging technologies such as virtual reality, machine learning, augmented reality, and artificial intelligence affects the industry and drives businesses to create mobile platforms that improve consumers' real-time interactive experience.
With the advancement of fast telecommunication technology and global networking, this industry increased in both customer and supplier numbers all over the world.
The advent of the COVID-19 epidemic shifted the growth trajectory of the online learning market. COVID-19's impact on online learning resulted in increasing number of online learning programs and virtual classroom attendance.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising adoption of e-learning in academic setups and corporates, favorable government policies to promote e-learning in developing economies, and advances in technology in smart education and e-learning are expected to boost the e-learning market.
- Cloud-based e-learning platforms save money by allowing users to access material through the Internet without downloading large amounts of software or programs. During the projection period, this adoption of the cloud-based approach is expected to boost the e-learning market.
- Several application-based learning platforms allow smartphone users to obtain real-time insights on any topic. Adoption of digital learning technology grew rapidly in the e-learning market, due to rising use of smartphones.
- Key restraints of the global e-learning market are the high cost of software and the need for a large amount of software and hardware resources.
- Growing use of artificial intelligence in e-learning solutions, automation, and advanced learning analytics are generating opportunities for the e-learning market to grow in the next years.
Scope of E-learning Market Report
The report on the global e-learning market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|E-learning Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
E-Learning Market Segment Insights
Based on technologies, the global e-learning market is divided into learning management systems (LMS), online e-Learning, virtual classrooms, and packaged content. During the projected period, the packaged content is expected to hold a significant proportion of the market, due to the desire to gain skills and growing demand for skills in the digital industry such as virtual reality, AI, and big data.
On the basis of learning modes, the e-learning market is segregated into self-paced and instructor-led. During the projected period, the self-paced market is predicted to continue its dominance, with an incremental rise of about USD 136 billion.
Over the last decade, Europe, Russia, and the UK emerged as the leading consumers of self-paced e-learning. Around 70 percent of people identify themselves as lifelong learners, which means that online education companies are expected to have a lot of potential in the industry over the next several years.
In terms of end-users, the market is divided into higher education, corporate, vocational training, K-12, and others. During the forecast period, the corporate segment is expected to increase by nearly 130 percent.
The COVID-19 pandemic resulted in increasingly widespread and permanent changes in work culture and legislation, hence learning and development professionals turned to corporate e-learning to empower and train their employees.
E-learning Market Regional Outlook
Based on regions, the market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The e-learning market in North America accounts for almost 38% of the industry's revenue and is continuously expanding, due to quick technological adoption by multiple enterprises to deliver effective training to their employees.
The US is the world's largest self-paced learning market, with the potential to drastically alter the industry's prospects.
The market in Asia Pacific is predicted to develop at a rapid rate throughout the forecast period, providing market players with numerous opportunities. Rising e-learning share of the market in this region is expected to be influenced by digital literacy and awareness about the benefits of using smart devices in modern classrooms.
- Learning Management System (LMS)
- Online E-learning
- Virtual Classroom
- Rapid E-learning
- Higher education
- Vocational training
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- Aptara Inc.
- Adobe Systems
- Meridian Knowledge Solutions
- Citrix Education
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Cisco Systems Inc.
- Apollo Education Group
- Learning Pool
- CERTPOINT Systems Inc.
- Allen Interactions Inc.
In a fast-growing education industry, the market is fragmented into many local and regional firms competing with one another. Aptara, Inc., Cornerstone, Adobe Systems, Meridian Knowledge Solutions, Citrix Education, Microsoft Corporation, NetDimensions., SAP SE, Oracle Corporation, Cisco Systems, Inc., Apollo Education Group, Learning Pool, CERTPOINT Systems, Inc., and Allen Interactions, Inc.
are some major players in the market. Businesses in the e-learning market are working to deliver their information in an interactive format that sparks learners' interest in these training platforms.