The e-learning market is projected to grow from $43.42 billion in 2017 to $65.41 billion by 2023, growing at a CAGR of 7.07%.
CHICAGO, IL, UNITED STATES, January 23, 2018 /EINPresswire.com/ — Arizton’s recent market research report on the e-learning market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by delivery mode (packaged content, SaaS/LMS, and others), learning mode (self-paced and instructor-led), type (training and testing), end-user (K-12, higher education, corporates, government, and vocational), and geography (North America, APAC, Europe, MEA, and Latin America).
The e-learning market is projected to grow from $43.42 billion in 2017 to $65.41 billion by 2023, growing at a CAGR of 7.07%. The growing popularity of blended learning and the increasing adoption of cloud-based learning are propelling the growth of the global e-learning market. Vendors are leveraging innovative technology to offer customized course content to meet the requirements of consumers and increase market share in the global e-learning market.
The leading three drivers and trends augmenting the growth of the e-learning market are discussed below:
Increase in Penetration of Internet and Internet-enabled Devices
The growing internet penetration and the increasing number of the mobile devices and smartphone users are driving the growth of the e-learning market. The improvement in network connectivity and social infrastructure is revolutionizing the delivery mode of content and helping vendors expand their business operations across various regions. Government initiatives to improve the internet infrastructure will help to formulate the framework for e-learning as the primary and secondary education segment, thereby helping to boost the demand for e-learning services. The development of sophisticated cloud infrastructure will strengthen the connectivity and eliminates several problems associated with cost, scalability, security, and efficiency. Such development efforts will enhance the delivery platforms and offer access to course modules in remote areas, thereby contributing to the growth of the global e-learning market.
Blended Learning to Emerge as a Norm in Education Technology
Blended learning involves the use of digital mediums for content creation and customization, and allows the end-user to exercise an element of control on path, place, and pace of the content delivery. This unique method of learning incorporates both classroom teaching techniques and digital mode to deliver engaging and effective services to promote e-learning modules and growth of the global market. The most prominent blended learning models include flip, rotation, self-blend, and flex. Language training market is the largest adopter of blended learning concept in the global e-learning market. This method of training helps the instructor design the pace of the content delivery according to the user’s capabilities and limitations of time. The trend of personalization and blended learning method will revolutionize the global e-learning market during the forecast period.
Increased Applications of VR and AR in E-learning
The increased integration of AR and VR technology will boost the interaction levels and the number of users in the global e-learning market. Leading vendors are using AR and VR techniques to create simulating operating environments and imparting functional training, especially about blue-collar jobs, including maintenance, repair, service, and replacement of various vital components and spares. These new methods of e-learning will help educational institutions provide practical training about operative medicines, on performing surgeries, and sharing case studies. The leading vendors such as Alibaba, Warner Bros, Google, Qualcomm, Fidelity, J.P. Morgan, Morgan Stanley, CIC, Intel, Amazon, Fidelity, NetEase, and Softbank are investing huge capital for developing AV and VR technology and accessories for these applications in the global e-learning market.
The leading vendors in the e-learning market are Apollo Education Group Inc., BlackBoard Learn, The British Council, Oracle, and Pearson PLC.
The complete overview of the latest market research report on the e-learning market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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Source: EIN Presswire