E-Learning Market to Gain $840.11 Billion by 2030 at a CAGR of 17.5%: Report by Allied Market Research
The global e-learning market is primarily driven by a surge in adoption of smart phones & cellular technology and growing adoption of remote learning.
Wilmington, DE, Nov. 06, 2023 (GLOBE NEWSWIRE) — Recently, Allied Market Research published a report, “E-Learning Market by Provider (Content and Service), Deployment Model (On-Premise and Cloud), Course (Primary and Secondary Education, Higher Education, Online Certification and Professional Course, Test Preparation), and End User (Academic, Corporate and Government): Global Opportunity Analysis and Industry Forecast, 2020–2030″. As per the report, the global e-learning industry is expected to gather a revenue of $840.11 billion by 2030. The market was valued at $197.00 billion in 2020 and is anticipated to grow at a CAGR of 17.5% during the 2021-2030 period.
Growth Drivers, Market Restraints, and Investment Opportunities
Increasing penetration of smartphones and cellular technology is anticipated to drive the growth of the global e-learning market. Also, a rising shift towards remote learning will help in augmenting the growth rate of the market. On the contrary, lack of interaction with teachers and fellow students might create hurdles in the growth of the market. Nonetheless, the cost-effectiveness of e-learning models is anticipated to create numerous investment opportunities in the market.
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Report Coverage & Details:
|Market Size in 2020||$197.00 Billion|
|Market Size in 2030||$840.11 Billion|
|No. of Pages in Report||320|
|Segments Covered||By Provider, Deployment Model, Course and End User|
|Drivers||Remote learning trends enforced by the global pandemic and surge in adoption of smart phones & cellular technology drive the growth of the global e-learning market.|
|Opportunities||Emergence of several trends such as micro learning, gamification, adoptive learning, and mobile learning are expected to offer remunerative opportunities for the expansion of the market during the forecast period.|
|Restraints||Lack of face-to-face interactions in the E-learning systems and need for higher self-motivation limit the e-learning market growth.|
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The content segment to be highly dominant
By provider, the content segment held the highest market share in 2020, with nearly three-fourths of the market. Growing digitization in public and private enterprises, along with rising adoption of online tutoring by several organizations will help in the growth of the segment. The service segment, however, is anticipated to have the highest CAGR of 17.5% in the analysis timeframe. Increasing shift of different countries from analog to digital information exchange will strengthen the segment’s position.
The cloud segment to offer lucrative opportunities by 2030
By deployment mode, the cloud segment accounted for the largest market share in 2020, with around three-fifths of the total market. The ability of cloud services to upload huge content in different formats including videos and texts will augment the growth of the segment. Also, the cloud segment is expected to have the fastest CAGR of 16.6% during the forecast period.
North America accounted for the highest market share in 2020
By region, the North America e-learning market gathered the highest revenue in 2020, with around two-fifths of the total market share, due to rising demand for distance learning. The Asia-Pacific market, on the other hand, is predicted to be the fastest growing with a CAGR of 17.4% during the 2021-2030 period. Development of web applications & cloud-based platforms is predicted to be the main factor driving the growth of the market in this region.
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Major companies in the market:
- Aptara Inc.
- Cisco Systems, Inc.
- D2L Corporation
- Articulate Global, LLC
- Citrix Systems, Inc.
- Microsoft Corporation
- Oracle Corporation
- SAP SE
Key Industry Development –
September 2023: United Nations Development Programme (UNDP) today launched a revolutionary e-Learning Programme to increase global need to support and enhance sustainable finance. This initiative of the Sustainable Finance Hub’s SDG Finance Academy is poised to share UNDP’s vast knowledge on sustainable finance with global practitioners. Moreover, the open-access e-Learning Programme will be accessible to anyone with an Internet connection. It begins with ten comprehensive modules, offering a foundational understanding of sustainable finance and advanced explorations in vital areas essential for the Sustainable Development Goals (SDGs).
September 2023: Sonic Foundry, Inc, the trusted leader in video capture management and streaming solutions, announced that its Global Learning Exchange™ (GLX) business, which provides students around the world with affordable access to top-tier online learning solutions coupled with local support resources, partnered with International Telematic University UNINETTUNO. Through this partnership the company intends to extend Global Learning Exchange’s international network while supporting the organizations’ shared mission of expanding access to higher education in emerging markets around the world.
July 2023: The Online Learning Consortium (OLC), a collaborative community of higher education leaders, partnered with Uwill, the leading student mental health and wellness solution for higher education, to establish Uwill as OLC’s exclusive educational teletherapy partner. Moreover, OLC is emphasizing the importance of student mental health as part of its mission to foster community and knowledge around quality online, blended, and digital learning while driving innovation. Uwill and OLC have committed to conducting joint research in the fall to offer insight into the mental health needs of online learners and how to best support them.
April 2023: Fazua launch new E-learning dealer portal with gamification approach which introduced a fully revised design, also features an online training area, in which dealers will be able to intuitively navigate the individual training modules. Moreover, the online training is designed to be interactive and varied, using a gamification approach. Employees have the option to compare their results with colleagues’ on the company leader board, or to view their current progress.
February 2023: Japanese Moodle Certified Premium partnered with e-learning Co., Ltd. to expand its operations in Singapore through its entity E-LEARNING LMS PTE. LTD. The entity was established as the first wholly-owned overseas subsidiary of e-learning Co., Ltd. to provide Moodle LMS and Moodle Workplace as Software-as-a-Service (SaaS) in Singapore.
December 2022: Indian Institute of Technology Ropar (IIT-Ropar) partnered with IIT-Madras and IIM-Ahmedabad incubated edtech start-up GUVI to drive excellence in e-learning services. GUVI will collaborate on research to upgrade its placement-oriented Career Program – ‘ZEN Class’ and mentorship by meeting the standards of excellence in e-learning services through IIT-Ropar.
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