eLearning Market to cross $ 200bn by 2024

A major factor contributing to the high growth of the e-learning market is the rising shift towards flexible education solutions in the corporate and the academic sector. These solutions allow students and employees operating in a range of verticals such as healthcare, BFSI, information and telecommunication to have access to quality training but are dispersed over a large geographical area. The rapid scale of globalization has necessitated the need for language and sensitivity learning. MNCs are moving their employee base to foreign locations, leading to the increase in demand for these services. Furthermore, the government of various organizations, such as India, China, and Japan are aiming at improving the literacy of the general population, primarily in rural and semi-rural locations that have very limited access to schooling and educational infrastructure.

eLearning apps can be operated from a range of devices and are not restricted to only a single system. Additionally, these solutions are highly customized to cater to the varying learning capabilities of the user. The high penetration of the internet on a global scale has increased the availability of authoring and design tools, making it easier and inexpensive to develop the apps and is a major factor promoting the growth of the e-learning market. The Adobe Presenter 11, for instance, is an e-learning development tool that enables to turn Power Point presentations into materials that can be visually presentable and accessed by the organization’s online learner community.

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The large enterprise segment of the e-learning market is anticipated to grow as they have substantial financial resources to enter into partnerships with the online course providers to train their employee base on a range of parameters such as technical, management, and language skills. For instance, in August 2017, Infosys entered into a partnership with Udacity for the provision of nanodegrees and training to their employees.

The rising trend of BYOD among corporate bodies is aiding in the growth of the e-learning market as it allows users to access training on their devices without time restrictions. Online e-learning is projected to experience a high growth as the online platform collect data on a real-time basis and are readily available at very low, subscription costs. They also reduce the need for commuting to other locations.

The Latin America e-learning market is anticipated to experience growth in the following years with the rising demand in countries including Brazil, Mexico and Argentina. This is mainly attributed to the high emphasis by the governments on providing education on technical and English courses on e-learning courses. Distance learning is gaining traction in the Brazilian market as it permits students in the region to avail courses from renowned institutions. For instance, MIT offers distance learning courses to the Brazilian student base with provision of online course material and video content.

Players operating in the global e-learning market include Edmodo, Skillsoft, Saba Software, NetDimensions, Oracle, Udacity Inc, Coursera, and Aptara. The industry is characterized by a large number of tie-ups and mergers and acquisitions for the development of the software applications. For instance, Skillsoft acquired MindLeaders to expand their target customer base and sustain growth in the e-learning market.

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