Delaware – April 21, 2016 – E-Learning Market Size is was valued over USD 165 billion in 2015 and is likely to grow at over 5% from 2016 to 2023, exceeding USD 240 billion. Factors such as low cost involvement accompanied by flexibility in learning are expected to drive industry growth.
U.S. e-learning market size should be over USD 27 billion by 2016, owing to rising significance of these services across the region. Ease of accessibility along with improvised effectiveness due to animated learning is likely to positively impact e-learning market size. In addition, increasing number of internet users coupled with escalating number of internet enabled mobile phones are anticipated to propel industry demand over the several upcoming years. Increasing adoption from non-academic as well as academic sectors should boost the industry demand for these services.
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Increasing significance in corporate sectors will drive industry growth over the forecast period. As the service providers provide these educational services through latest technologies, it enables the user in having graphic-based and rich media learning experience. Furthermore, these services are anticipated to enhance employee productivity owing to which large numbers of firms are now opting for e-learning solutions over the traditional learning methods. This in turn is projected to positively impact e-learning market demand over next five years.
Technology obsolescence along with change management are the factors anticipated to hamper the industry demand. Vendor-developer partnerships might pose numerous industry challenges from 2016 to 2023. Need of highly developed IT infrastructure is likely to pose a challenge to the industry demand for these services. Escalating demand accompanied by rising awareness for distance learning is likely to provide potential growth avenues to the numerous industry participants. In addition, advent of these services on tablets is anticipated to fuel the demand for the service over the forecast period.
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The industry can be segregated based on technology, product and vendors. Corporate and academic e-Learning are the types of product encapsulating product segment. Based on vender, the industry can be segregated into service providers and content providers. On the basis of technology, the industry can be segregated as rapid online learning, learning management system (LMS), mobile e-learning, podcasts, virtual classroom, application simulation tool, knowledge management system and learning Content Management System.
North America may witness substantial growth owing to U.S. being the major region for adoption of these services and it is projected to exhibit significant growth prospects from 2016 to 2023.
Asia Pacific, particularly the India e-learning market size is estimated to exhibit highest growth, more than 17%, and is anticipated to play a key role in the global industry. This can be attributed to increasing regulatory initiatives such as government funded literacy development projects in small villages and rural areas. This measure is forecast to drive the industry demand in the region. Sales were valued at USD 5.2 billion in 2011 and close to USD 10 billion by the end of 2015, with major generation from package content sales. Furthermore, lack of quality education along with affordability as well as convenience factors in the region might propel the industry demand over the forecast timeframe.
Western Europe e-learning market size was valued around USD 6.5 billion in 2015 and is anticipated to be second largest industry for online learning solutions, with expected gains of over 5.5% throughout the forecast period. The spur in the region can be subjected to increasing adoption of these solutions in medium and small sized businesses.
Latin America is expected to witness considerable growth from 2016 to 2023. LATAM e-learning market share was valued around USD 1.4 billion in 2014 and is likely to grow at a CAGR of over 14% over the next seven years. The positive spike can be dedicated to advent of governmental programs for handing out the laptops to the school students. Furthermore, private schools are now encouraging students to bring tablets and computers in order ti improve learning skills among students.
Key industry participants in e-learning market share include encapsulate Apollo Education Group, Adobe systems, Cisco Systems, HealthStream, SAP, Citrix, McGrawHill, Oracle, Aptara, Cornerstone On Demand, Edmodo, NetDimensions, Saba Software, Schoology, Desire2Learn, Skillsoft, SumTotal Systems, Microsoft, Blackkboard, Pearson and Skill Soft.
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