The global corporate e-learning market is anticipated to grow at substantial CAGR during the forecast period (2017 to 2021), according to a report available on Radiant Insights, Inc. Growing requirement for knowledge upgradation of employees in organizations related to latest technology to maintain productivity level can fuel demand for corporate e-learning. Such e-learning is expected to ensure that employees are kept updated with developing job requirements and changes in organizational conditions. In addition, it can allow employees to understand that how their performance can impact organizational goals.
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Growing adoption of advanced training methods in corporate landscape, irrespective of their business vertical can augment market growth. This can help employees to avail training experience that is customized according to their speed and abilities. It can also improve information retention through rich and interactive media learning experience. All these factors are expected to fuel growth of market during the forecast period (2017 to 2021).
The corporate e-learning market can be segregated on the basis of type, end-users, and region. Based on type, the market can be categorized into local area network e-learning, wide area network e-learning, and type C. Based on end-users, the market can be classified into manufacturing, healthcare, and financial services.
To cater to rising demand for corporate e-learning, most companies are offering advanced solutions and deliver knowledge to corporate employees worldwide. For instance, Oracle recently announced list of 18 startups in India for fourth batch of Oracle startup cloud accelerator program. The selected startups are expected to be provided with structured mentoring, co-working space, state-of-art technology, cybersecurity, power distribution, and using modern technologies including machine learning, artificial intelligence, Chabot’s, and big data. Out of these selected startups, six are expected to be from Bengaluru, Mumbai, and Delhi.
Regional segmentation includes North America, Europe, and Asia Pacific. In North America, the market is predicted to grow considerably during the forecast period attributed to rapid advancements in technological infrastructure and increasing investments for e-learning vendors. Financial support is likely to enable e-learning vendors and related organizations to launch innovative solutions and systems for e-learning. In addition, rising concept of bring your own device (BYOD) policy in large organizations and corporations in the region can fuel proliferation of e-learning through tablets, smartphones, chrome books, and other gadgets. Moreover, United States being headquarters of established technology companies including Google and Microsoft offering innovative technology in education sector can augment market growth in the region.
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In Europe, the market is estimated to witness gradual growth during the forecast period owing to technological advancements in countries including France, United Kingdom, and Germany. Growing adoption of self-paced and competency based e-learning among employees can boost growth of market in the region. In addition, local vendors are likely to spend on development of innovative solutions to provide customized e-learning services to corporates in the region. This, in turn can fuel growth of market. Moreover, organizations are expected to adopt new learning methodologies such as collaborative learning, blended learning, and competency-based learning. This, in turn can increase number of employees enrolling for self-paced e-learning courses that can be employed on premise as well as on cloud.
In Asia Pacific, the market is expected to grow fast over the forecast period owing to increasing number of organizations opening their businesses in emerging economies of this region. In addition, rapid industrialization and high demand for latest technologies in the region can contribute to growth of market.
Some of the leading companies offering corporate e-learning are ABSC International, Company C, and Cornerstone on Demand, Oracle, and SAP.
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