Global E-learning Market Analysis 2023-2028 - Increasing Use of VR & AR with Enhancement in Connectivity Infrastructure and Smartphone Penetration

DUBLIN, July 19, 2023 /PRNewswire/ -- The "E-learning Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global e-learning market is projected to reach a value of $491.35 billion by 2028 from $232.47 billion in 2022, growing at a CAGR of 13.28% from 2022 to 2028.

North America leads the e-learning market, capturing over 41% of the revenue share in 2022, thanks to its efficient learning infrastructure and innovative methodologies. The region's high-speed internet, robust connectivity, and easy access empower learners to provide real-time feedback, driving improvements in interactive e-learning sessions.

The growing adoption of 5G technology is set to fuel market growth, enhancing the overall learning experience. The United States and Canada, as the region's largest economies, play a significant role in this surge. Academic and business users have distinct expectations and learning requirements, shaping the diverse landscape of e-learning services.

While academic courseware emphasizes dynamic content customization, corporate courseware targets broader audiences with a structured online distribution model.

Notably, the Latin American e-learning market has witnessed substantial mergers and acquisitions over the past seven years, with companies expanding their portfolios to encompass various segments, including K12 education, distance learning, post-secondary education, and workforce skill training in both corporate and government sectors.

MARKET TRENDS & DRIVERS

Increasing Use of Mobile Applications in the E-learning Market

Development in mobile applications is becoming the core strategy of most businesses where older education models are being replaced with revolutionary e-learning applications that have changed the learning process.

Mobile applications have introduced several features to offer ease and convenience to overcome various problems faced by students from different demographics and geographical backgrounds. With the help of mobile phones, learning has now become more interactive. The emergence of smartphones in the late 20th century changed the learning scenario.

Increasing Demand for Internet-Enabled Services

Growing internet, mobile, and smartphone penetration is one of the fundamental growth drivers of the e-learning market. This has revolutionized content delivery mode and evolved the method by continuously improving bandwidths and reducing data prices.

Governments across the globe hold the key to developing internet infrastructure across countries and formulating the framework for e-learning as the primary and secondary mode for mass education. Primary and secondary education is predominantly funded and regulated by the state and constitutes a key end-user segment in the e-learning market.

Introduction of 5G Technology

The emergence of 5G technology is expected to witness heights by 2023, covering nearly 20% of the global population. The application of 5G will be similar to 4G but more reliable and faster. The bandwidth of connecting to more devices and executing tasks at greater speed without delay will have a huge influence on the e-learning market.

The ability to connect more than a million devices per square km will bring out hassle-free advancements in smart classes, cloud technology, and gamification, thereby improving the adoption of a tech-based learning ecosystem. Adopting 5G technology in education has brought huge transformations in a high-quality learning experience with high video and audio quality and a seamless VR experience.

The concept of adopting 5G technology is at a nascent stage. It is expected to grow as many companies as possible in the e-learning market are expected to start developing applications compatible with 5G technology.

INDUSTRY RESTRAINTS

Inadequate Internet Bandwidth in Developing Countries

For economic and human development, broadband internet access is necessary in developing and developed countries. For delivering essential services such as education and healthcare, the internet is a powerful tool that provides increased opportunities for environmental sustainability and adds to improved government transparency and accountability.

While developed markets such as the U.S., the U.K., and the EU account for the majority demand for online learning solutions, developing countries are the major growth markets because of their rapidly evolving internet and mobile infrastructure. Despite the rise in mobile and internet penetration in these countries, bandwidth and streaming quality are major concerns, often limiting access to sophisticated and advanced learning and training applications.

With blended learning gaining foreground and video becoming an integral part of the training-learning curriculum, the role of internet bandwidth becomes even more prominent. The adoption of e-learning products in most emerging economies is largely affected by insufficient bandwidth, hindering the delivery of audio and video content and hampering the e-learning market growth.

SEGMENTATION INSIGHTS

INSIGHTS BY DELIVERY MODE

E-learning encompasses various courseware and content delivery services for various end-user applications. Packaged content, LMS, and other emerging learning avenues, including serious games and gamified mobile applications, are the most prominent.

Other important learning models increasingly gaining prominence include video-based learning, virtual classrooms, social learning, gamification, and simulations. 

INSIGHTS BY LEARNING MODE

The global e-learning market by learning mode is categorized under self-paced and instructor-led. The self-paced learning mode is a preferred choice of learners as it allows them to learn at their schedule and time. Also, the method enables learners to control the amount of study material and time required.

In 2022, the self-paced learning mode segment dominated the global industry. The segment is expected to grow at a comparatively higher CAGR than the instructor-led learning mode segment during the forecast period. Under the instructor-led learning mode, the course already has a pre-planned pace, which cannot be altered as per convenience.

INSIGHTS BY FUNCTION MODE

The training function facilitates the learners with lectures (live or recorded) along with necessary notes or other relevant content. In 2022, the global e-learning market was dominated by training functions. Training module packages include notes in PDF, video tutorials, word documents, and assessments to help students learn easier and quicker.

INSIGHTS BY END USERS

The global e-learning market by end users is divided into five categories K-12, higher education, corporate, government, and vocational. E-learning is used by corporates to train, communicate, and enhance the value of employees across organizations. They are constantly looking to increase the effectiveness and efficiency of their workforce, and there is a constant requirement to upskill the existing personnel. 

Key Attributes:

MARKET DYNAMICS

Market Opportunities & Trends

• Increasing Use of Mobile Applications in E-Learning Industry
• Growth of Blended Learning
• Increasing Use of Vr & Ar Applications
• Growth in Gamification
• Adoption in Hybrid Model

Market Growth Enablers

• Increasing Demand for Internet-Enabled- Devices
• Growing Need for Strong Workforce Skills
• Digital Transformation in Learning & Training
• Continuous Investment in Digital Learning
• Introduction of 5G Technology: Game Changer
• Enhancement in Connectivity Infrastructure and Smartphone Penetration

Market Restraints

• Growing Demand for Continuous Product Innovation
• Variability in Hardware & Software
• Limited Access to Closed Markets & Platforms
• Inadequate Internet Bandwidth in Developing Countries
• Lack of Viable Revenue & Monetization Models

Key Company Profiles

• Apollo Education Group
• Blackboard
• British Council
• Oracle
• Pearson
• Aptara
• Adobe
• Skillsoft
• NIIT

Other Prominent Vendors

• Cisco
• Instructure
• GP Strategies
• Thomson Reuters
• Docebo
• McGraw Hill
• Desire2Learn
• Edmodo
• Cengage
• Macmillan Education
• Cornerstone
• Educomp
• Cogna Educacao
• Telefonica
• edX
• Estacio
• Coursera
• SAP Litmos
• Open Education
• Veduca
• LinkedIn (Microsoft)
• Simplilearn
• Think & Learn (BYJU'S)
• upGrad
• LeQuest
• FutureLearn
• L2P (Learn 2 Play)
• Chegg
• Bright Little Labs
• Aula Education
• WhiteHat Security
• Blinkist
• Age of Learning
• Learnetic
• Elearn Australia
• 360Learning
• Udemy
• Skillshare
• Udacity
• Pluralsight
• Alison
• Babbel
• Treehouse
• Unacademy
• Duolingo
• Tracxn Technologies
• IGNOU
• BenchPrep
• Coassemble
• Codecademy
• CrossKnowledge
• FutureLearn
• GoSkills
• iHASCO
• ITPro
• Khan Academy
• MasterClass
• OpenSesame
• Rosetta Stone
• Teachlr
• DataCamp
• BrainStation
• Cengage Learning India
• Estacio
• Telefonica Learning Services
• Learnetic

For more information about this report visit https://www.researchandmarkets.com/r/3986q3

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