The e-learning market surges due to rising digitalization, demand for flexible education, and technology-driven personalized learning experiences.
PORTLAND, OREGON, UNITED STATES, November 17, 2023 /EINPresswire.com/: The global e-learning market was valued at $197.00 billion in 2020 and is projected to reach $840.11 billion by 2030, registering a CAGR of 17.5% from 2021 to 2030.
E-learning is a type of learning where teaching is done through purely digital means such as recorded videos and e-books. E-learning helps students and workers learn at their own pace and time. In addition, many e-learning platforms have integrated AI technology to convert’spoken language into captions and transcripts’, thus helping the hearing-impaired comprehend the subject easily. Furthermore, the key factors that drive the market include the rise in the adoption of advanced e-learning systems and the increase in the adoption of cloud-based e-learning platforms.
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The surge in the use of AI and machine learning in e-learning systems has boosted the growth of the market across the globe. However, factors such as a lack of face-to-face interactions in e-learning systems and a lack of practical knowledge have limited the growth of the elearning market. On the contrary, the emergence of several trends, such as microlearning, gamification, adoptive learning, and mobile learning, is expected to offer remunerative opportunities for the expansion of the market during the forecast period.
Region-wise, the e-learning market was dominated by North America in 2020 and is expected to retain its position during the forecast period. This is attributed to a number of factors, such as the penetration of new industries and the improvement of the economy. In addition, the presence of a growing number of e-learning solution vendors across the U.S. and Canada is expected to provide lucrative opportunities for the elearning market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the wide presence of small and medium-scale organizations that are turning toward e-learning solutions to efficiently manage their business processes, particularly in developing countries such as China, India, and Singapore.
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The outbreak of COVID-19 is anticipated to have a positive impact on the growth of the elearning market. This is attributed to the design and implementation of government policies intended to promote learning during the lockdown. In addition, e-learning has become an integral part of the learning process, and COVID-19 has made online assessment practices essential for learning. Furthermore, during the pandemic period, employees and organizations desperately look for online methods for accurately analyzing learners’ knowledge, abilities, and skills for better assignment of work.
Moreover, many global organizations have partnered with e-learning platforms to identify and improve the skills of their employees. For instance, in July 2020, Google partnered with the Central Board of Secondary Education (CBSE) to digitize classrooms in India. With the partnership, Google is expected to work with CBSE Skill Education and Training to allow one million teachers in 22,000 schools in India to deliver blended learning that combines the classroom approach with online learning. Thus, the growth in the number of such collaborations drove the growth during the COVID-19 pandemic.
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The key players profiled in the e-learning market analysis are 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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