Global Online Education/E-Learning Market
As stated in our extensive report; the Global Online Education/E-Learning Market accounted for USD 198.2 Billion in the year 2022.
Online Education/E-Learning describes the training and test-taking activities carried out or shared online. One of the primary growth factors of the Online Education/E-Learning industry is the increasing adoption of the Internet, mobile devices, and smartphones. Technology has transformed how content is delivered, advancing the process by steadily increasing bandwidths and lowering data costs. New corporate learning and training standards are being developed thanks to the advanced application of technologies. Since quick changes, such as those brought on by breakthrough technologies, present difficulties for companies, it helps shift the conventional method of doing things. In addition, telecommuting and remote working are rising as businesses become more transcontinental and worldwide.
Factors Influencing Global Online Education/E-Learning Market Growth
The growth of the global Online Education/E-Learning market can be attributable to the following:
- The rising use of mobile learning apps for online learning, the rising demand for dependable Internet connectivity, increased student engagement through gamification, an expanding global workforce, technology proliferation, and the fast uptake of AI and cloud-based technologies have all boosted this market’s growth.
- The flourishing Ed-tech industry, the expanding availability of educational materials online, the expanding need for online learning in the corporate sector, the surging demand for remote and flexible learning, the rise in content digitization, widespread adoption of emerging trends like microlearning and mobile learning, the increasing number of government programs and initiatives towards online education, and the surging deployment of Online Education/E-Learning modules to the workforce. All these factors are responsible for market development.
- The development of numerous cooperative educational communities, such as the Online Learning Consortium (OLC), has helped Online Education/E-Learning become more widely used. In addition, these businesses support technological advancements that make learning more enjoyable and interesting for today’s students.
- The idea of a virtual classroom has been very popular recently. Students can now participate in lessons in real time thanks to online whiteboards and video conferences, which has greatly increased interaction and collaboration in learning.
- The pandemic has prompted educational institutions worldwide to adapt to online education platforms offering students a wide range of accredited, university-affiliated courses. In this regard, the pandemic is a blessing for this industry.
The lack of peer-to-peer interaction, inadequate Internet connectivity in rural areas, and many adaption problems have seriously hampered the expansion of the global industry.
North America region Dominates the Global Market
The North American area is predicted to dominate the worldwide Online Education/E-Learning industry due to its well-established infrastructure and highly qualified labor force. The growing adoption of the “bring your own device” (BYOD) policy among business enterprises fuels the market’s expansion. The existence of powerful competitors like Microsoft Corporation, Cisco Systems Inc., and Oracle will further propel market expansion toward a dominant position. The necessity to improve workers’ skill sets and students’ technical knowledge will expand the North America Online Education/E-Learning market for the forecast period.
The global pandemic-enforced rise in smartphone and cellular technology use and tendencies towards remote learning have positively impacted the market for Online Education/E-Learning as a whole.
The well-known players of the Global Online Education/E-Learning Market include Lynda.com (US), Tata Interactive Systems (India), Mcgraw-hill Education (US), Blackboard Inc. (US), Aptara Inc. (US), Powerschool Group LLC (US), K12 Inc. (US), Udacity Inc. (US), Cisco Systems Inc. (US), Skills2learn Ltd. (UK), City & Guilds Group (UK), Citrix Education Inc. (US), Centerpoint Systems Inc. (US) and others.