E-learning Market is estimated to be US$ 729.2 Billion by 2029 with a CAGR of 13.4% during the forecasted period

 

E-learning market accounted for US$ 210 billion in 2019 and is estimated to be US$ 729.2 billion by 2029 and is anticipated to register a CAGR of 13.4%.

Impact of Covid-19 pandemic on market

Due to the outbreak of COVID-19, schools and universities are forced to close and consider implementing e-learning solutions to ensure continuity in imparting education. Online learning institutions are also registering a substantial growth in the number of students. The report will estimate the impact of Covid19 on the demand for smart education and learning solutions for Covid19 as a significant market contributor by continuously monitoring the market dynamics.

The report "Global E-learning Market, By Type (Training and Testing), By Learning Mode (Self-paced and Instructor-led), By Delivery Mode (Packaged Content and SaaS/LMS), By End-user (K-12, Higher Education, Corporates, Government, and Vocational), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

• In May 2020, Blackboard Inc., a foremost education technology company for teaching, learning, and student engagement, announced enhanced adoption and implementation of Blackboard Unite for K-12. K-12 is a holistic suite of virtual learning tools and resources, including the learning management system Blackboard Learn and virtual classroom Blackboard Collaborate—in schools and districts across the U.S.
• In January 2020, Pearson, the world’s learning company, announced the acquisition of industry-leading digital learning technology from Smart Sparrow, an ed-tech innovator based in Sydney, Australia. The deal values Smart Sparrow’s assets at the US $25 million.

Analyst View:

Rise in the demand for cost-effective training and learning techniques in corporate and academic sectors in the coming years is the major factor driving the growth of the E-Learning markets. The increased implementation of the cloud-based platforms in the eLearning market is offering these sectors flexibility in the accessibility, content storage, and processing. Increasing the volume of course content makes it difficult for these sectors to store and manage such a huge amount of information in their stores or libraries. Thus, the electronic method allows these sectors to manage and store their course or business data on online websites or applications. Some key benefits of the cloud learning platform are remote access, data backup, security, and cost-effectiveness. Furthermore, the technology enables easy content delivery and access to students than depending on the course materials and books.

Key Market Insights from the report:        

The global E-learning market accounted for US$ 210 billion in 2019 and is estimated to be US$ 729.2 billion by 2029 and is anticipated to register a CAGR of 13.4%. The market report has been segmented on the basis of type, learning mode, delivery mode, end-user, and region.

• By type, in 2017, the training type segment dominated the global market share and is expected to grow over the forecast period. This is mainly attributed to the growing demand for LMS systems from governmental-related, professional, and academic sectors.
• By learning mode, in 2017, the self-paced learning mode segment dominated the global market, owing to the growing preference for continuous learning and using technology to access content anytime and from anywhere.
• By delivery mode, the packaged content delivery mode segment consists of videos, e-books, and simulations, which is a major part of the E-learning module.
• By the end-user, the corporate end-user segment is the fastest-growing segment due to increasing demand for training programs and content covers compliance and IT management and industry-related courses.
• By region, North America is driving the growth of the global market, owing to the increasing availability of internet infrastructure and the high penetration of smartphones and tablets in this region. The US and Canada are the highest revenue generators in the global E-learning market in North America.

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Competitive Landscape:

The prominent player operating in the global E-learning market includes Apollo Education Group, Inc., BlackBoard Learn, The British Council, Oracle Corp., Pearson PLC, Docebo, McGraw-Hill eLearning Group, Aptara, Desire2Learn, and Edmodo.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.