E Learning Market Analysis – COVID-19 Pandemic Spurs E Learning Market Growth
COVID-19 pandemic spurs e learning market growth
The global e learning market is expanding at a rapid pace. It is driven by a growing number of companies that are focusing on online education and providing remote learning.
The market is divided into various segments based on provider, deployment model, course, and end user. Some of the major segments include primary and secondary education, higher education, online certification and professional courses, and test preparation.
Segmentation
The e learning market can be segmented by end user, deployment type, and region. The corporate e-learning segment held the largest share of the global market in 2021. This is owing to a rise in the focus on employee up-gradation and training to improve productivity and competitiveness. Further, the academic e-learning segment is growing at a rapid pace due to increased government allocations for K-12 education. In addition, a surge in student enrolments for distance courses during the COVID-19 pandemic has driven growth of this segment.
The North America e learning market is growing rapidly due to the country’s advanced technological infrastructure, strong emphasis on education, and presence of major e-learning platforms. The Asia Pacific e learning market is also growing at a fast rate due to improving internet connectivity, increasing adoption of digital technology by enterprises, and the demand for online education from local students. Moreover, the correlation between gross domestic product growth and tertiary education enrollments in the region is above 70 percent.
Trends
E-learning solutions provide students with an opportunity to complete their education from home or work. They also allow instructors to customize training modules, which helps improve student engagement and retention. Additionally, the integration of innovative technologies such as augmented reality (AR) and virtual reality (VR) boosts learner engagement by providing immersive experiences.
The global e learning market is segmented by provider, deployment model, course, and end user. Based on provider, the market is divided into service providers and content providers. The deployment model is categorized into cloud and on-premise. The course segment is further divided into primary and secondary education, higher education, online certification and professional course, and test preparation. The end-user segment includes government, corporate, and academic.
North America is expected to dominate the e-learning market, owing to its high-tech educational infrastructure and the growth of its IT industry. Additionally, its high investment rate in employee skill development programs is expected to fuel the market. In addition, the region’s growing internet and smartphone penetration is driving the demand for e-learning solutions.
Challenges
The global e-learning market is highly competitive. Key players include Adobe Systems, Aptara Inc., Articulate Global, LLC, CERTPOINT, Baidu Inc, Blackboard, Inc, Coursera Inc, edX Inc, D2L Corporation, FUTURELEARN Limited, Epicor Software Corporation, GitHub Inc, Google LLC, Oracle Corporation, and SAP SE. These companies are focused on developing novel services to enhance their position in the market.
Growing internet, mobile phone, and smartphone penetration across the globe is a major growth driver for the e-learning market. However, internet infrastructure in emerging economies is often inadequate. Insufficient bandwidth restricts the transmission of audio and video content, which hampers the growth of the e-learning industry.
In addition, a lack of affordable and accessible educational content has limited the adoption of e-learning in some regions. However, these challenges are expected to be overcome with increasing government investment in enhancing internet infrastructure and the implementation of e-learning policies. As a result, the e-learning market is likely to grow rapidly in the near future.
Opportunities
The e learning market offers a number of opportunities for growth. The increasing penetration of smart devices and augmented reality (AR) are expected to increase the demand for online learning platforms. These technologies will enable the delivery of better and more immersive learning experiences. This will help in improving the quality of education and in making it more accessible to a larger population.
The COVID-19 pandemic has also contributed to the growth of the e learning industry. Several governments announced complete lockdowns during the pandemic, and educational institutions switched to e-learning systems in order to continue teaching their students. Additionally, many companies were also forced to move their training courses online to maintain social distancing.
The North American e-learning market is thriving due to the development of efficient and innovative learning infrastructure and the rising demand for skill enhancement. The availability of 5G technology also contributes to the increased speed and reliability of internet connectivity, which is essential for interactive e-learning sessions.