eLearning Market will gain huge adoption of mobile learning technology with the increased use of smartphones. Several application-based knowledge platforms are being developed that allow smartphone users to gain insights into any topic in real time. Some educational institutes and universities develop their own mobile-based applications that allow the students to login to the student portal and get access to the missed lectures. The major mobile applications being used in corporate sectors include Udemy, Skill Pill, DesignJot, and BoostHQ. Moreover, the developers in the market are also offering a game-based application platform that is used for teaching children with the help of interactive animated videos and pictures. These technologies allow schools to enhance the logical & reasoning skills and IQ of their students.
The North America e-Learning market is anticipated to grow rapidly over the predicted years due to the fast-technological adoption by several organizations to provide effective training to employees. The corporate sectors are engaged in enhancing their employee training programs that result in high employee productivity. The large organizations are incorporating software-based technologies to monitor and analyze the daily or weekly performance of their staff. However, small companies are finding it difficult to incorporate these high-cost solutions in their enterprises. Such factors have encouraged service providers to offer LMS hosted services to these SMBs. This is allowing companies to either host these solutions in their organizations’ servers or use Software as a Service (SaaS) hosting. Moreover, content developers in the region are offering training modules with a high degree of customization, engagement levels, and content quality, driving competition in the eLearning market.
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The advancements in elearning market has not only disrupted the corporate sector, but have also impacted the government sector to a vivid extent. On account of growing benefits of implementing eLearning tools, governments of various emerging economies such as India and Brazil, have undertaken several initiatives to widen the scope of such technologies to penetrate in the untapped areas. Reportedly, the Indian Department of Electronics and Information Technology is embracing eLearning centered research and development activities in renowned educational institutes such as IIT and C-DAC across the country.
eLearning market is driven by increasing penetration of e-learning tools include the CityCab’s launch of web-based training programs to provide linguistic training to taxi drivers in order to improve their communication with the commuters. Another such move was recorded when Infosys Ltd. entered in an agreement with three firms including Udacity Inc., EdX Inc., and Coursera Inc., to train their personnel on Artificial Intelligence via e-learning tools. Reportedly, The Indian Department of Electronics and Information Technology is also embracing e-learning centered research and development activities in some of the renowned institutions including IIT and C-DAC.
Growing applications of technology in academic institutes is a major factor propelling the eLearning market. In 2018, academic sector is accounted for over 50% of the global industry share. With the increasing awareness about education and the adoption of modern solutions in several schools, universities, and colleges, the literacy rate is growing rapidly. Education centers are providing a digitized platform for learning and interaction to the students that offer deep and clear insights into academic courses, subjects, and topics. It allows teachers and guest lecturers to showcase the practical implications of the topic with the help of videos, pictures, and other interactive mediums. Moreover, the increased number of distance learning centers will drive the adoption of electronic education techniques, boosting the market growth.
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With continuous advancements in the learning & education fraternity, elearning market, in response to these developments, has observed commendable gains over the recent years. E-Learning has been gaining immense popularity of late, owing to its ability to reduce costs by centralizing content and enabling uniformity in content delivery, a factor that has stimulated this sector to attain significant heights in the recent years. The growth trajectory for this business space continues to remain strong with a myriad range of companies incorporating eLearning tools for maximum skill development, administration, knowledge and training.
The elearning market consists of a large number of service providers that are offering different types of services to the customers. With technological advancements and innovations in the industry, these providers are expanding their service offerings that use these advanced solutions. Several players are offering mobile-based and gamified services, which help the learner to be updated through an interactive medium. These providers are competing based on the diversification in their offerings. For instance, Netsmartz provides different types of services to its customers that include mobile e-learning solutions, gamified e-learning, animation & simulation, consultancy, and course builders, among others. These companies are partnering with large corporations and universities to offer their innovative services around the world, accelerating e-learning market growth.
The global eLearning industry is characterized by high degree of fragmentation and involves greater participation of key as well as the niche market players. The rapid growth of interactive tools and meteoric shift toward technology-centric learning have created huge opportunities as well as challenges for the global leaders to develop more innovative techniques and solutions. Prominent industry players participating in the competitive hierarchy of e-Learning market include Apollo Education Group, McGrawHill, Oracle Corp, Desire2Learn, HealthStream, Coursera Inc., SAP, Adobe systems, Cisco Systems, and Pearson. Further analyzing the future scope, industry analysts project eLearning market remuneration to hit a massive USD 300 billion by 2025.
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