E-learning denotes to a learning system reliant on formalized teaching by electronic resources. In other words, it is said to be a network-enabled transference of knowledge to a large number of receivers at the same time. E-Learning enables business executives to learn from virtually any place with the computer or mobile device & internet connection. It allows employees to obtain knowledge and skills to undertake a specific operation that will support an organization to continue to function proficiently. Based on the technology, market is categorized into Web Based, Learning management system, Learning content management system, Podcast, and Virtual classroom. Based on the training form, market of E-learning is sub-divided into Instructor Led & text based and Outsourced.
Coursera Inc., edX Inc., BizLibrary, Udemy, Inc. and Khan Academy are the E-Learning Market Major Players which presently functioning in the market more effectively for leading the highest market growth and registering the great value of market share around the globe during the coming years. Whereas, the industry revenue is growing with a double digit CAGR owing to Covid 19 Impact On E-Learning Market and the industry observed drastic augment in revenue and number of paid users throughout the lockdown during 2020. Supplementing the internet penetration and modification in predilection from rote learning to experiential learning has been pushing the E-Learning Market Size. Throughout 2020, live classes and new-age skill improvement courses such as coding, web development, and several others has obtained the traction. Fresh business models such as revenue sharing and commission model has also appeared presently.
At the global level, the Online Learning Market is increasing gradually due to the accessibility of sufficient finances to enter into partnerships with the online course providers. For instance, Udacity, Inc. and Infosys Limited arrived into a partnership to suggest the Nano-degrees and training to their employees. During the coming years, the South American E-learning market is projected to witness growth as countries such as Mexico, Brazil, and Argentina will see heightened requirement for E-learning. Melbourne Institute of Technology (MIT) deliver the various learning courses to Brazilian students with addition of video content and online course material. The government of several countries such as China, India, and Japan are focusing at upgrading the literacy of the populace in rural and semi-rural areas that have limited admittance to educational infrastructure. Analysis of such trends can also designate the importance as well as the growth of the E-Learning Market Size. Along with the USA, India, China, and South Korea have made foremost advances in the field of E-learning. E-learning has become a significant sector in such countries.
Although, the large and organized corporates in the E-learning market are effectively opting the strategies of enlargement such as partnership, new product development, amalgamation, joint venture, merger and acquisition and several others for ruling around the globe, generating the high percentage of revenue and obtaining the competitive edge. Therefore, in the near years, it is predicted that the market of E-learning will increase around the globe more effectively over the near future.
For More Information, click on the link below:-
Ankur Gupta, Head Marketing & Communications