The global e-learning solutions market is projected to reach US$ 386.24 million in 2023 and is expected to grow at a CAGR of 25% to surpass US$ 3,601 million by 2033. The development of learning styles has continued to evolve as technology has altered the field of education, including various new functions that are improving the learning experience dramatically. Learning institutions and their materials have become more accessible through e-Learning systems. Additionally, these methods enhance learners' learning experiences in unique ways.
Globally, eLearning platforms are becoming more and more popular owing to their affordability and availability. With the rapid development of technology in the world, it has become extremely imperative that classroom learning methods change from conventional ones to methods that can be applied in the field of learning. Organizations and students opted for e-learning solutions during the pandemic, which spiked the growth of e-learning solutions.
Innovative modules are now available to learners at organizations with e-Learning solutions. In recent years, artificial intelligence has contributed to the development of virtual teacher assistants that can assist instructors in guiding their learners through academic modules in an effective manner. Furthermore, these developments can be used to predict learner behavior to personalize the learning experience. A new trend in e-Learning is to translate learning modules much more quickly than traditional methods, which has been noted as a new trend.
Numerous changes have been made to the education system as technology continues to advance at a rapid pace. Several benefits have been achieved through mobile learning. Learners have access to their material at any time and from any location with this new trend. The mobile learning process also has the benefit of providing instructors with the ability to better monitor a learner's performance.
Mobile learning has taken E-learning in a new direction with 67% of people accessing it via their mobile devices. There will be a need for high-impact learning materials soon, as well as applications that allow individuals to learn concentrated information.
As E-learning trends continue to increase, mobile learning is an excellent tool for educators. In addition to its benefits, mobile learning is highly effective, especially in terms of its accessibility and flexibility. E-learning solution demand in the Asia Pacific is expected to rise due to the growing populations in developing regions and the demand for online learning platforms to enhance skills and student creativity. Among the major markets in the region, India will grow the fastest in terms of e-learning solutions.
Various educational online learning platforms have been launched by the government in this region to launch free educational programs. For instance, SWAYAM is a program designed by the Indian government to achieve equity, quality, and accessibility in education. This effort aims to bring the best teaching and learning resources to all students so that they can all have access to the best teaching and learning resources available. Aiming to bridge the digital divide, SWAYAM seeks to assist students who have been left behind in the digital age.
From January 23-25, 2023, the Fairmont in Riyadh will host the second Global Trends in E-learning forum. The Saudi Press Agency reported that Saudi Electronic University organized the forum to discuss education trends under the patronage of Minister of Education Youssef Al-Benyan. A total of 45 speakers, including both male and female speakers, will take part in the conference. It will be discussed how e-learning is shaping the future and how current trends, developments, technologies, and practices are influencing the future of e-learning, as well as influencing the future of education.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 320 million |
| Expected Market Value (2023) | US$ 386.24 million |
| Anticipated Forecast Value (2033) | US$ 3,601 million |
| Projected Growth Rate (2023 to 2033) | 25% CAGR |
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The e-learning refers to learning approach that can be delivered via internet, using electronic devices such as computer, mobiles and other digital devices. E-learning solution overcomes traditional classroom learning experience through online e-learning courses. It means that participants can learn at any time and any place around the world.
It is also beneficial for reducing costs associated with the training and development of employees without the need for travel and accommodation for them at a centralized location. Enterprises are widely adopting these online learning management systems enabling virtual learning that are ideal for employees in terms of convenience, coverage and cost effectiveness.
These innovative learning management systems utilizes cloud-hosted technology to enable online courses and study materials for all types of users such as individuals, corporates and professionals.
The COVID-19 pandemic outbreak has created disruption in many industries, including the education sector. Many private as well as government organizations have allowed their employees to work from home amid the lockdowns, which has created need for providing online business training session for employee, which require e-learning solutions.
Moreover, the lockdowns across the world has forced many schools and universities to close which has disrupted classroom teaching and training practices. Hence, this has fueled the growth for online education and training solutions where the institutions are migrating to online tools for such new teaching methods.
The E-learning solution market is a multi-billion dollar market growing at a rate of 10% over the past few years. However, due to the COVID-19 impact and lockdown scenarios, the market is expected to grow by around 500 BPS in 2020 over 2019. Moreover, as the demand for cost-effective online learning techniques is growing, the market E-learning is expected to grow at significant rate in the next 5 years.
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The demand for e-learning solutions is increasing for improving the skills, behavior, and performance of the workforce and also enhancing the efficiency of the organization. These e-learning solution assist in overcoming industry-specific training challenges to improve employee performance and organizational results.
Such e-learning solution offers different benefits such as easily manage large groups of people, update materials immediately without delay, and use it anytime and anywhere. The reliability of such benefits drives the e-earning solution market growth.
Besides their popularity, there are technical issues such as poor internet infrastructure, lack of reliability among the people for effectiveness of learning, which are big challenges for the E-learning market.
Some of the prominent players providing e-learning solutions are -
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Based on the region, the trends of the e-learning solutions market fluctuate across various geographical regions. The e-learning solutions market includes a leading share in many countries of Asia-Pacific, North America, and the rest of the world. On the basis of geography, North America is expected to capture the most significant e-learning solutions market share, owing enterprises are now shifting to eLearning for better results and convenience of use, in the region.
The e-learning solutions market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The e-learning solutions market report also maps the qualitative impact of various market factors on market segments and geographies.
The e-learning solutions market has been segmented on the basis of solution, deployment, industry, and region.
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E-Learning Solutions Market
