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Self-Paced E-Learning Market 2024 - By Size, Share, Industry Growth Analysis Report By 2033
Self-Paced E-Learning Market
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According to The Business Research Company's, The self-paced e-learning market size has grown strongly in recent years. It will grow from $8.12 billion in 2023 to $8.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to internet penetration and accessibility, flexibility and convenience, corporate training and professional development, cost-effectiveness, globalization of education, personalized learning paths, rise of mobile learning, demand for skill-based training, integration of multimedia content.
The self-paced e-learning market size is expected to see strong growth in the next few years. It will grow to $11.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to global rise in remote work, microlearning and bite-sized content, gamification elements for engagement, data analytics for learning insights, expansion of online certification programs, customizable learning platforms, personal development and hobbies. Major trends in the forecast period include mobile learning and microlearning, video-based learning, social learning features, blockchain for certification verification, remote workforce training, data privacy and security, corporate learning platforms.
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Market Drivers and Trends:
The increasing use smart phones is expected to propel the growth of the self-paced e-learning market going forward. Smartphones are advanced mobile devices that combine the functionality of a traditional cellular phone with various features and capabilities typically associated with computers. Smartphones are used for self-paced e-learning by providing accessible, versatile, and personalized learning experiences with access e-learning platforms, videos, and educational apps. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smart phone. Therefore, increasing use of smartphones is driving the growth of the self-paced e-learning market.
Technological advancement is a key trend gaining popularity in the self-paced e-learning market. Major players operating in the self-paced e-learning sector are focused on technological innovations to gain competitive edge in the market by offering immersive experiences and fun and effective learning. For instance, in July 2022, edX, an online learning platform from 2U Inc., a US-based educational technology company, launched two Spark Augmented Reality (AR) courses with Meta Immersive Learning. These courses offer learners wider access to the tools and education required to build a career in augmented reality. The courses enable professionals to learn fundamental AR design principles and AR creation skills using Meta's Spark AR Studio software.
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Major Key Players of the Market:
2U Inc., City And Guilds International Limited, D2L Corporation, Houghton Mifflin Harcourt Company, Instructure Inc., John Wiley & Sons Inc., NIIT Limited, Pearson Plc., Think & Learn Private Limited, Vedantu Innovations Private Limited, Udemy Inc., Totara Learning Solutions Limited, Anthology Inc., Aptara Inc., Berlitz Corp., e-Careers Limited, Encompass Safety Solutions Limited, Learning Technologies Group plc, Simplilearn Solutions Private Limited, StraighterLine Inc., Allen Interactions Inc., GP Strategies Corporation, Cisco Systems Inc., Pluralsight LLC, Udacity Inc., Amazon.com Inc., Alibaba Group Holding Limited, Baidu Inc., Tencent Holdings Limited, LinkedIn Corporation, OpenSesame Inc.
Self-Paced E-Learning Market 2024 Key Insights:
• The self-paced e-learning market size is expected to see strong growth in the next few years. It will grow to $11.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Stem Program Expansion Propels The Future Of Self-Paced E-Learning Market
• Edx Revolutionizes Self-Paced E-Learning With Augmented Reality Through Meta Immersive Learning
• North America was the largest region in the self-paced e-learning market share in 2023
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