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E-learning market Size
Rise in remote learning during the pandemic and demand for low-cost convenient learning system positively impacts the growth of the online learning market.
PORTLAND, PORTLAND, OR, UNITED STATE, August 27, 2024 /EINPresswire / -- According to a recent report by Allied Market Research titled "E-Learning Market by Provider, Deployment Model, Course, and End User: Global Opportunity Analysis and industry Forecast, 2021–2030," the global e-learning market was valued at $197.00 billion in 2020 and is projected to reach $840.11 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.5% from 2021 to 2030.
E-learning is a form of education where instruction is delivered entirely through digital platforms, such as pre-recorded videos and e-books. This method allows both students and professionals to learn at their own convenience and pace. A significant feature of modern e-learning platforms is the integration of artificial intelligence (AI) technology, which can convert spoken language into captions and transcripts. This feature enhances accessibility, particularly for individuals with hearing impairments, by helping them better understand the content.
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Several factors contribute to the growth of the e-learning market, including the increasing adoption of advanced e-learning technologies and the rise of cloud-based e-learning platforms. Additionally, the growing use of AI and machine learning within these systems has further accelerated market growth. Despite these advancements, the market does face challenges. The lack of face-to-face interaction and practical, hands-on experience in e-learning environments has hindered its full potential.
However, emerging trends such as microlearning, gamification, adaptive learning, and mobile learning present new growth opportunities. These innovations are expected to drive market expansion during the forecast period.
In terms of providers, the content segment dominated the global e-learning market in 2020, accounting for nearly 75% of the total market share. This significant portion is attributed to the increasing digitization efforts across both public and private sectors, as well as the growing adoption of online tutoring platforms and digital content distribution methods within various business organizations. Meanwhile, the service segment is forecasted to experience the highest compound annual growth rate (CAGR) of 17.5% during the forecast period. This rapid growth is driven by the ongoing shift in many countries from analog systems to digital methods of information exchange, which is fueling demand for e-learning services.
Regarding deployment mode, the cloud segment contributed the largest share to the market in 2020, representing over 60% of the global e-learning market. The popularity of the cloud is due to its ability to allow educators to store and distribute a wide range of e-learning materials in diverse formats, including videos, text documents, presentations, quizzes, and surveys. Additionally, the cloud segment is expected to demonstrate the highest CAGR of 16.6% between 2021 and 2030, as more institutions and organizations recognize the benefits of cloud-based e-learning platforms.
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In terms of regional dominance, North America led the e-learning market in 2020 and is expected to maintain its position throughout the forecast period. This leadership is driven by various factors, including the region's economic development and the increasing penetration of new industries. The presence of numerous e-learning solution providers in countries like the U.S. and Canada also offers lucrative opportunities for the market. Meanwhile, the Asia-Pacific region is expected to experience significant growth, fueled by the widespread adoption of e-learning solutions by small and medium-sized enterprises (SMEs) in countries like China, India, and Singapore. These organizations are increasingly leveraging e-learning to streamline their operations and manage their workforce effectively.
The COVID-19 pandemic has had a positive impact on the growth of the e-learning market. In response to the lockdown, governments around the world implemented policies to promote digital learning. E-learning quickly became a crucial component of education, with online assessments becoming a key element of the learning process. During the pandemic, businesses and employees turned to online methods to assess knowledge, skills, and abilities more accurately. Many organizations also formed partnerships with e-learning platforms to enhance employee skill development. For example, in July 2020, Google collaborated with the Central Board of Secondary Education (CBSE) in India to digitize classrooms. Through this partnership, Google is working with CBSE's Skill Education and Training initiative to equip one million teachers in 22,000 schools across India with tools for blended learning, combining traditional classroom education with online methods. Such collaborations have contributed to the growth of the e-learning market during the pandemic.
Key findings from the study include:
1. Content providers held the largest market share in the e-learning industry in 2020.
2. North America generated the highest revenue in 2020.
3. The cloud deployment model led in terms of revenue in 2020.
Prominent companies in the e-learning market include Adobe, Aptara Inc., Articulate Global LLC, CERTPOINT, Cisco Systems Inc., Citrix Systems Inc., D2L Corporation, Microsoft Corporation, Oracle Corporation, and SAP SE. These companies have adopted various strategies to strengthen their market presence and increase their influence within the e-learning industry.
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