Published: May 2021
The eLearning business is mostly driven by corporate training initiatives and distance education programs, leading to the development of cost friendly learning solutions packaged in versatile information and communications technology infrastructure
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Revenues from eLearning material made available as packaged solutions, are projected to grow at a CAGR of 7.8%, till 2030
This kind of learning material is majorly used by self-paced learners. In such offerings, content is made available either as pre-prepared or custom packages. Growth in this segment is anticipated to be driven by professionals in pursuit of higher education or specialized learning.
Instructor-led training initiatives are anticipated to capture the maximum market share
At present, instructor-led training (ILT) solutions are popular in corporate circles, and widely used in mass training initiatives, as well. The demand for live training sessions also exists, and is growing, at the K12 level. The key advantage of this form of learning is the provision to clear doubts via one-to-one interactions with experts, which is not possible in recorded sessions. Moreover, the COVID-19 pandemic has significantly boosted the demand for ILT, thereby, radically impacting the contemporary education paradigm.
Contributions from the public sector to the eLearning market, are expected to grow at an annualized rate of 10.4%, between 2020 and 2030
As governments across the globe have started digitizing internal processes and operations, eLearning is being widely used in training and development of public sector employees and in state-led education programs. In order to drive cost savings across such training initiatives self-paced eLearning models are preferred in government-sponsored programs.
Venture capitalists have invested over USD 4.1 billion in eLearning start-ups, in 2020
Interestingly, since the onset of the pandemic, investment activity in eLearning companies has increased significantly. The research in the report indicates that the that maximum number of funding instances were reported in February 2020. Further, over 50% of the total amount was invested in the first quarter.
Europe is likely to capture the largest share in the eLearning market in 2030
This prediction is primarily attributed to the fact that most of the early adopters of this technology are based in this continent and that the most advanced ICT infrastructure is also available in the same region. Small Medium Businesses (SMBs) and K-12 are likely to be the major contributors to Europe’s eLearning market, with Germany and the UK leading the market in terms of revenue generation potential.
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The USD 420.1 billion (by 2030) financial opportunity within the global eLearning market has been analyzed across the following segments:
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