The Global E-Learning Market was valued at US$ 153.90 Bn in 2020 is expected to reach US$ 396.40 Bn by 2027, with a growing CAGR of 14.5% during the forecast period (2021-2027).
The use of electronic media for providing flexible education and training is referred to as e-learning. The e-learning industry is witnessing a high growth rate across the globe. The excellent growth is attributed to the accelerating internet penetration, large number of smartphone users, government’s digital initiatives, and quality education availability online. The global economy is reshaping by the widespread digitization of organizations and their business models. Businesses are adopting digitization to achieve higher overall organizational performance and to build a competitive advantage that has become equally important for the survival and growth of businesses. Various measures being undertaken by the government and organizations across the globe to support digital transformation in the industries supporting e-learning for corporates.
Moreover, gamification is anticipated to be widely used in the coming years to enhance user engagement. The use of gamification in the form of simulation of concepts, level advancement badges, and incentive-based learning are predicted to be the future of e-learning. In addition to this, the technological innovations across the supply and demand ecosystem of e-learning will further boost market growth. The use of big data and artificial intelligence for designing customized content, data storage on the cloud to access data anytime and anywhere, and data consumption using wearable devices are few examples of advanced technologies used across the e-learning ecosystem.
The most common factors for the rising popularity of e-learning among developed economies are the flexibility of accessing the data from anywhere and anytime, the ability of students to learn at their own pace, immersive and interactive learning process owing to the use of games and social media. Whereas, corporates prefer e-learning as it saves considerable costs by lowering the meal and travel expenses associated with employee training, flexibility and accessibility and modularity. The employees can select the study material that is more relevant to their needs.
The Global E-learning Industry Segmentation:
By Deployment
By Provider
By Technology
By Application
-K-12
-Higher Education
-Vocational Training
-Small & Medium Enterprise
-Large Enterprise
By Region
Based on technology, online e-learning accounted for a market share of 48.2% in 2020 followed by mobile e-learning.
Online e-learning has become a part of the world’s most renowned institutions owing to the rapid technological advancement. Online e-learning offers students, all the perks of attending a dream university while providing the added convenience of a tailored learning experience according to the student’s schedule. With the rising awareness regarding distance education, the demand for online e-learning is significantly high, Over 6 million people are enrolled for online courses as a part of their higher education.
Moreover, mobile e-learning technology is growing at a faster pace owing to the rising smartphone penetration among young students. Over the past year, mobile e-learning grew at a rate of 20% and is primarily driven by the COVID-19 pandemic. Furthermore, the demand for mobile e-learning is high among students when compared to professionals owing to the high usage of mobile phones among them. The mobile e-learning industry will hold a significant market share in 2027.
Based on the application, the academic application segment held a significant market share in 2020, whereas the corporate segment witnessed the high growth rate
The new trends in the e-learning market such as the use of augmented reality (AR) and virtual reality (VR) are providing enormous opportunities for trainers to have better interaction with their students through immersive experiences. These trends help in making learning more effective, practical, and enjoyable. The industries are taking advantage of AR and VR, and the education sector will leverage these technologies at a large scale to leverage the benefits offered by them.
While the e-learning industry forecast for corporate is very bright as more and more organizations are adopting e-learning solutions to train their employees. E-learning among corporates has found to increase the retention rate by 25%-60% and also saves the cost of the employer. The pandemic caused significant changes in the organization structure, which encouraged the trainers to move to online training programs thus proliferating the e-learning industry demand.
Based on regions, the North America e-learning market size was the largest in 2020, followed by Europe and the Asia Pacific
North America is at the forefront of technology development that helps the academic and corporate people to adopt new and smart learning solutions. The region has witnessed a significant increase in mobile e-learning applications over the last decade. Approximately 77% of the corporates across the U.S. used e-learning solutions in 2017. The North America e-learning market is anticipated to account for a 33.7% share by the year 2027. In North America, U.S. and Canada are considered in the e-learning market scope. The U.S. accounted for the largest market share in 2020, whereas Canada is growing at a significant rate.
Approximately, 63% of the high school-going students and 45% of the elementary school students across the U.S. utilize digital learning tools on a daily basis. Among all the graduates across the U.S., 52% of the graduates and 39% of the undergraduates find online learning effective compared to classroom learning. These statistics show that the North America region has excellent opportunities in the e-learning market forecast.
The report also provides in-depth analysis of e-learning market dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
Opportunities
COVID-19 Impact on the E-learning Market Analysis
The COVID-19 has affected various industries as well as education sector to a large extent. The education institutes and business organizations are increasingly adopting e-learning solutions to fill the gap generated by the pandemic. The schools are shut down, which exponentially gave rise to the e-learning industry demand. Students are forced to shift to e-learning solutions along with the corporates. The governments across the globe primarily from the developing countries are making efforts to ease the process of e-learning by providing essential devices and other infrastructure solutions for brighter future of their students.
The report also provides in-depth analysis of key trends in E-learning market
| Sr. No. | Trends | Impact |
| 1 | Coronavirus has impacted the budgets of organizations as the companies are more concerned about spending their budget on essential business functions. COVID-19, had negative impact on the e-learning industry, with approximately 43% of the organizations making adjustments in terms of their corporate training budget. | Negative |
| 2 | The e-learning experts shared more immersive content over last one year using AR and VR | Positive |
| 3 | Improvement in the functionality features of Learning Management System such as integration of communication features owing to the escalating dependence on video calls amid COVID-19 | Positive |
The report also provides in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the market are:
The unique insights provided by this report also includes the following:
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