According to Custom Market Insights (CMI), The Global E-Learning Market was estimated at USD 210 Billion in 2021 and is anticipated to reach around USD 848.1 million by 2030, growing at a CAGR of roughly 17.53% between 2022 and 2030.
Our research report offers a 360-degree view of the E-Learning market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the E-Learning market.
E-Learning Market: Overview
E-learning is electronic learning involving electronic gadgets through which teaching can be done. It has four main types: one-to-one, group, video-based, and course learning. Examples of e-learning platforms include Byju’s MOOCs (Massive Online Open Courses), e.g., Coursera or Futurelearn, Udemy, and many others. In addition, e-learning involves smartphones, computers, laptops, and a good internet connection through which knowledge and teaching have been performed.
Browse the full “E-Learning Market Size, Trends and Insights By Technology (Online E-Learning, Learning Management System (LMS), Mobile E-Learning, Rapid E-Learning, Virtual Classroom), By Provider (Service, Content), By Application (Academic [K-12, Higher Education, Vocational Training], Corporate [SMBs, Large Enterprises], Government), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/e-learning-market/
Market Dynamics.
Drivers.
The growing use of e-learning during a pandemic
Technological advancement, upgradation in new electronic product developments, and ease of accessibility to the internet have enhanced the performance of the e-learning market during the forecast period.
Furthermore, an article published by World Economic Forum in January 2022 states that the online learning platform Coursera recorded 20 million new student registrations in 2021. Additionally, cost-effective learning courses and depending on the online platform during the COVID-19 pandemic have driven the market enormously. This factor is anticipated to enhance the overall demand for e-learnings in the growing technological field.
Restraints.
Disadvantages associated with e-learning
However, confidentiality and cyber security are one of the restraining factors for the global- e-learning market. In addition, technological barrier and high investments cost for e-learning setup is expected to hamper the market in coming years.
Opportunities.
Growing demand for electronic-based devices
The growth of the e-learning market is driven by growing demand for consumer wearable electronic devices, computers, PCBs, laptops, LED, and others that are expected to create the need for electronic gadgets. Moreover, the rise in the demand for electronic devices and the advancement of technology in electronic gadgets surged the e-learning market in 2021. For instance, according to an article published by Invest India in November 2022, the electronic devices industry valued at $118 bn in 2019-20 is segmented as Mobile Phones (24%), Consumer Electronics (22%), Strategic Electronics (12%), Computer Hardware (7%), LEDs (2%). Over 2.3X growth in domestic electronics production in 6 years; From $ 29 Bn (FY15) to $ 67 billion (FY21). These factors are expected to increase the potential sales of e-learning in the growing electronics industry in the upcoming years.
Challenges.
Miniaturization of devices
The growing trend for miniaturization of electronic devices, which in turn leads to the requirement for high-performance adhesives. Furthermore, lack of face-to-face interaction and low motivation to learn will dampen the market. In addition, the re-opening of schools, colleges, and universities and recovery from a pandemic is expected to act as a challenging factor in the e-learning market during the forecast period.
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Report highlights.
The market is segmented based on technology: online e-learning, learning management systems (LMS), mobile e-learning, rapid e-learning, and virtual classroom.
The learning management system dominated the market in 2021 and is expected to grow with a total market share of 22.59% over the forecast period. A learning management system (LMS) is a software application and web-based technology widely used worldwide to plan, implement and assess a specific learning process. According to an article published by Forbes in September 2020, Forbes has listed the top 10 LMS learning technology, named The Best Learning Management Systems of 2022.
MATRIX LMS., TalentLMS., Absorb., iSpring., Docebo., D2L Brightspace LMS., Blackboard Learn LMS., and others. The LMS technology offers administration, documentation, reporting, tracking, automation, and delivery of educational courses, training programs, materials, or learning and development programs, a widely accepted tool globally. This factor will enhance the potential sales of the e-learning market in the upcoming years.
Based on the provider, the segment is segmented into service and content.
The content provider segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 38.59%. Content provider segment access to a central repository of data. A provider is part of an android application, which often provides its own UI for working with the data. However, content providers are primarily intended to be used by other applications, which access the provider using a provider’s client objects. In addition, ease of access and quality content from various e-learning platforms such as Byjus, Study IQ, Unacademy, Udemy, and others have increased the sales of the global e-learning market during the forecast period.
Based on application, the segment includes the academic [K-12, higher education, vocational training], corporate [SMBs, large enterprises], and government. It is expected that the global educational segment to hold a dominant position during 2022 -2031 with a total share of 34.78%.
Key elements such as the strict lockdown shutdown of many colleges, schools, corporate sectors, and others have spurred the demand for e-learning applications. In addition, maintaining the inline o and consistency in the educational syllabus and government data and continuing the pending corporate work has boosted the e-learning market during the forecast period.
Platforms such as Microsoft teams, Zoom, Skype, and other applications ah has gained popularity in the e-learning market due to their ease of accessibility, simple procedures, and good technicality. According to a report published by Matthew Woodward in August 2022, in terms of enterprise users, Zoom had 27 clients paying at least $1 million per year in 2020. These factors are projected to grow e-learning during the forecast period.
Regional Snapshots.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
North America is the dominant region in the e-learning market. This region is also anticipated to maintain its dominance throughout the forecast period, with a total market share of 42.78%. Countries such as the U.S., Canada, and Mexico have enhanced the performance of the e-learning market. Growing awareness regarding the benefits of e-learning apps over traditional practices has improved the e-learning market. In addition, the adoption of IoT, AI-based learning, and the advancement of technology has spurred the demand.
Moreover, automatic translation, localization methods, machine learning, and distant learning kind of innovative learning applications have been enhanced in the countries such as America, Mexico, and others. This factor is responsible for the growth of the e-learning market. These fundamental elements positively escalated the demand for e-learning in the North American region.
Moreover, the Asia Pacific and Europe are also expected to show positive growth in the e-learning market during the forecast period. This is attributed to the wide acceptance of learning apps such as Udemy, Byjus, Coursera, Unacademy, and others in India is expected to increase the potential sales of the e-learning market in the forthcoming years.
Key Players
- Adobe
- Aptara Inc.
- Articulate Global LLC
- CERTPOINT
- Cisco Systems Inc.
- Citrix Systems Inc.
- D2L Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
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