E-Learning Market: Shaping the Future of Education | Projected to Garner Significant Revenues By 2030
The rise in remote learning during the pandemic and demand for low-cost convenient learning system positively impacts the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, May 19, 2023 /EINPresswire.com/ — According to the report, the global e-learning industry was estimated at $197.00 billion in 2020, and is anticipated to hit $840.11 billion by 2030, registering a CAGR of 17.5% from 2021 to 2030.
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Remote learning trends enforced by the global pandemic and surge in the adoption of smartphones & cellular technology drive the growth of the global e-learning market. On the other hand, lower interaction with fellow learners and peers restrains growth to some extent. However, the cost-effectiveness of e-learning models is expected to create lucrative opportunities for the key players in the industry.
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On the basis of deployment mode, the cloud segment contributed to the lion’s share in 2020, holding more than three-fifths of the global e-learning market, as it enables educators to upload vast quantities of e-learning content in various types and formats such as videos, texts, presentations, quizzes, and questionnaires. The same segment is also projected to manifest the fastest CAGR of 16.6% from 2021 to 2030.
On the basis of provider, the content segment held the major share in 2020, garnering around three-fourths of the global e-learning market, due to rise in digitization among the public and private sectors and the adoption of online tutoring and digital content delivery in several business organizations. The service segment, on the other hand, is expected to register the fastest CAGR of 17.5% throughout the forecast period. On-going transformations across the countries from analog to digital bases of information exchange boosts the growth of the segment.
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By region, the e-learning industry across North America dominated in 2020, garnering nearly two-fifths of the global e-learning market, owing to growth in demand for distance learning. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 17.4% throughout the forecast period. Developments of technology such as the deployment of web & cloud-based platforms and the increase in the adoption of e-learning methods in the province drive the growth of the market.
The market players operating in the global 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 players have adopted various strategies to increase their market penetration and strengthen their position in the e-learning industry.
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COVID-19 scenario:
• Rise in the adoption of digital technologies among various academic institutions, during the pandemic, impacted the global E-learning market positively.
• This trend is quite likely to continue post-pandemic as well.
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