Date : September 23, 2022
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From classroom to digital screen- Global E-Learning market is estimated to expand with more than 11%: Bonafide Research

From classroom to digital screen- Global E-Learning market is estimated to expand with more than 11%: Bonafide Research

E-learning is a form of learning or training through digital resources, based on formalized education but provided through electronic devices such as a computer, mobile, and other handheld devices. Important factors for the incline in e-learning adoption rate are the penetration of internet services; development of multimedia use, affordable digital devices, and improvements in learning management solutions like a transition to the cloud has increased its functionality and reliability. The rising demand for online certification and professional courses has also added to the growth of the industry. The advent of the E-learning concept dates back to 1999, when renowned educator and researcher Elliot Masie first used the term at a Cognitive Behavioral Therapy (CBT) seminar. E-learning has since evolved incredibly in the education, training, and business sectors. It offers numerous advantages over traditional education, such as self-paced learning and cost-effectiveness. Moreover, it allows students to choose their own learning environments and eliminates various geographical barriers associated with classroom learning.

According to the report, "Global E-Learning Market Outlook, 2027" published by Bonafide Research, the market stood at around USD 252 Billion in 2021, which is anticipated to reach near USD 479 Billion during the forecast period, registering a CAGR of more than 11% for 2022-2027. Even before the coronavirus pandemic, the eLearning industry was expanding at a steady pace. But now, the closure of most businesses and educational institutions has led to explosive growth as more and more organizations are investing in virtual learning experiences for their employees. The introduction of new technologies like AI, VR, and LMS drove the market's growth. The emergence of an AI-enabled solution aids the development of smart content, digitized study guides, and real-time questioning. Immersive technologies are enhancing communication, collaboration, and building stronger engagement during the session. Such benefits are to encourage the focus on implementing better technologies to improve the learning experience.

User-Generated Content is a trend that has already been implemented by many large companies. It is expected that the democratic approach to learning and sharing knowledge being used on a larger scale to deliver enhanced training. Much of this inevitable shift toward a more open working and learning environment is the direct result of technological advancements that enable easy collaboration. Improve remote learning experiences by leveraging immersive virtual training techniques rather than just addressing the mandate of remote training. Learning, as well as performance improvement rather than limiting the training budgets to only formal training. Provide nudges to create habits of learning rather than delivering training and ending it with the validation of user registrations. User experience across eLearning tools continues to undergo constant improvement, as the service suppliers provide these educational tools through the newest available technologies and users are able to benefit from a visually engaging interface and a media-driven learning experience.

Based on technology, the virtual classroom segment dominates the market, holding nearly 40% of the market. The online education market and content delivery are seeing a paradigm shift from content delivery to quick interactive learning platforms, allowing the rapid e-learning segment to grow with prominent market share during the forecast period. The increasing focus on mobile-learning and cloud infrastructure adoption to derive scalability will create lucrative opportunities for leading online education companies in the market. The m-learning segment is expected to show a shift of USD 65 billion from 2016 to 2027.

E-learning has proved to be the best means in the corporate sector, especially when training programs are conducted for professionals across the globe, making it possible for the employees to acquire skills under one roof. The corporate end-user segment accounted for a market share of nearly 40% in the year 2021, with large enterprises leading the segment. The schools which use e-learning technologies are a step ahead of those which still have the traditional approach towards learning. The academic segment leads the market, with a higher preference towards vocational training courses. Based on provider segmentation, the content category accounts for a larger market share.

In North America, the growth can be attributed to robust development in the 5G spectrum field and increasing internet penetration across the region. There were over 34.56 Million internet users in Canada in the year 2019, which was about 96% of the country’s population. Such intense market penetration in the region coupled with the awareness and willingness to spend on e-learning courses is going to drive the market with a CAGR of over 9% in the coming years. Further, technological advancements in digital infrastructure are to boost North America's e-learning market outlook. High internet connectivity allows attendees to offer relevant feedback in the real-time allowing enhancement of the interactive e-learning sessions. The rising adoption of 5G technology by companies to improve the learning experience is propelling the market expansion. The proliferation of mobile technologies, especially smartphones, among North American consumers is staggering. By the end of 2020, 327 Million people in North America subscribed to mobile services, representing 83% of the region's population. This places North America among the world's most developed mobile markets.

On the other hand, Europe has been undergoing tremendous technological and digital transformations in the field of e-learning over the past few years. Reports suggest that a strong technology landscape across the region is expected to contribute massively to the regional market. In line with this, European Union had also generated funds to develop European Data Portal for facilitating e-learning program to provide clear introduction to open data, offer supporting materials, and deliver training on its basics. Such initiatives are likely to offer a positive growth trajectory to the overall e-learning market across Europe. It is needless to mention that strong connectivity and robust telecom infrastructure across various economies will potentially augment the deployment of e-learning technologies in the region over the forthcoming years. UK (United Kingdom) holds the largest market share in the Europe however its market share is expected to decline in the e-learning market due to the shifting demographics of the country. Currently, in the education system development in Russia, the main focus is not only on the issue of its availability, but also the development of domestic learning software. The Italian government has designed a website to support schools to activate different forms of online learning during the lockdown period linked to the corona-virus emergency.

The Asia-Pacific region is one of the fastest developing regions in the world, and it now comprises just shy of a third (32%) of the e-learning market’s growth. That’s because Asia, in its entirety, accounts for about half of all internet users in the world, many of whom are smartphone-first. The growing smartphone penetration, combined with the ease of access to high-speed internet connectivity in several countries, will drive the growth of the e-learning market. With around 95% internet penetration in the region, the e-learning industry will gain traction. The availability of strong internet connectivity even in remote areas and small towns will propel market growth. The region is expected to show a growth rate of over 14% during the forecast period, posing as one of the most potential regions. According to the obtained data, around nine in ten South Koreans own a smartphone. The concept of e-learning is gaining popularity in the region, with the change of generation & young parents willing to spend more on such technologies. This resulted in the largest "online movement" in the history of education, with approximately 730,000 K-12 students attending classes via the Tencent K-12 Online School in Wuhan. In February, around 200 million primary and secondary school students in the country started their new semester online.

According to the report the e-learning market is growing rapidly across South America. Various opportunities are arising for suppliers of e-learning content, hardware, software, and services. E-Learning platforms function as classrooms and school offices at the same time, organizing all teaching content and enrollment and student information automatically. These tools are helping to expand the market in different industries by assisting companies in training, skills management, and employee performance assessment. All of this increases demand for content providers, who are witnessing market growth due to increased demand for materials to train or educate employees and students in general. In addition, increasing Internet access is accelerating the demand for online courses. The Brazilian higher education market has witnessed quantitative and qualitative levels of significant advances and developments. The increasing adoption of mobile and portable devices is augmenting the growth of the South American e-learning market. The increasing use of mobile platforms offers end-users the ease of connectivity and continuous news feeds, peer-to-peer challenges, flashcards, and content collaboration.

Further, vocational education shows immense scope in the UAE market. Many companies in Dubai are, therefore, setting up in-house education systems and institutions. The Middle Eastern market has been increasingly focusing on innovation and e-learning. And therefore, global and regional education providers have been increasingly investing in the development of the same.  For instance, the UAE’s Ministry of Education devised the Education 2020 strategy. This strategy outlines critical success indicators for students, teachers, and the administration. The national government is encouraging the adoption of technology in schools to enhance future employability. These developments are aiding the growth of the UAE smart education and learning systems market. The rising trend of artificial intelligence is expected to create a surge in the market demand for education and learning analytics. The introduction of Artificial Intelligence (AI) to learning analytics has achieved a high degree of output in educational institutes. AI addresses problems such as high dropout rates and the ineffectiveness of the "one-size-fits-all" teaching approach, among others. The AI-based learning solution offers professors some insights on students' learning styles, abilities, progress, and suggestions to customize the teaching methods as per the student's requirements.

COVID-19 Impacts:

The COVID-19 pandemic has transformed the e-learning market with the closure of schools and universities globally. In March 2020, over 1.2 billion students in 186 countries were affected by school closures due to the pandemic. The e-learning market has witnessed significant growth in the past few years. Moreover, due to the outbreak of the COVID-19 pandemic, the market witnessed a sudden boost in 2020. This is attributed to the implementation of various skill enhancement campaigns by governments in the majority of the countries and businesses across the globe. The e-learning industry is projected to prosper in the COVID-19 situation owing to an increase in investment in skill assessment technology for better understanding of the employees on an emotional and cultural scale. Furthermore, to sustain in the competitive market, the majority of EdTech have shifted toward digitalization to provide online services, helping employees and students to compare their skill levels and choose the right options and offers to carry out assessment processes online. It has become clear that COVID-19 would have long-term impacts on lives and economies by increasing the demand for e-learning, with a rise in demand for skilled labor and growth in government effort to elevate the overall worker level, which positively impacts the growth of the market. Employee safety concerns have prompted corporations to implement work-from-home policies in order to continue day-to-day operations. This has created barriers for companies in terms of training, communication, monitoring progress, and up-skilling, supporting the demand for e-learning platforms among large enterprises and SMEs. To cater to the growing demand, several companies are focusing on developing customized learning solutions. For instance, in April 2021, LinkedIn Corporation announced its plans for an online portal designed for enterprises to provide their staff with training videos and materials on subjects such as management strategy and machine learning.

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From classroom to digital screen- Global E-Learning market is estimated to expand with more than 11%: Bonafide Research

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