The global e-learning market size is expected to reach $65.41 billion by 2023, growing at a CAGR of 7.07% 2017-2023.
This market research report on the e-learning market offers analysis on market size and forecast, market share, industry trends, growth drivers, and vendor analysis. It includes insights on segmentation by delivery mode (packaged content, SaaS/LMS, and others), learning mode (self-paced and instructor-led), type (training and testing), end-user (K-12, higher education, corporates, government, and vocational), and geography (North America, APAC, Europe, MEA, and Latin America).
E-Learning Market - Overview
The introduction of technology-enabled learning that helps organizations train human resource is driving the growth of the global e-learning market. These training modules offer continuous and effective learning at an optimal cost and provide customized course content that meets the specific requirements of end-users. The advent of cloud infrastructure, peer-to-peer problem solving, and open content creation will help to expand business opportunities for service providers in the global e-learning market.
Vendors are also focusing on offering choices on the course content at competitive prices to gain the share in the global e-learning market. The exponential growth in the number of smartphone users and internet connectivity across emerging markets is driving the e-learning market in these regions. The introduction of cloud-based learning and AR/VR mobile-based learning is likely to revolutionize the e-learning market during the forecast period.
Major vendors are introducing technology-enabled tools that can facilitate the user engagement, motivate learners, and help in collaborations, thereby increasing the market share and attracting new consumers to the market. The growing popularity of blended learning that enhances the efficiency of learners will drive the growth of the e-learning market. The e-learning market is expected to generate revenue of $65.41 billion by 2023, growing at a CAGR of 7.07% during the forecast period.
E-Learning Market - Dynamics
The increasing number of mobile users and the growing trend of social media learning are augmenting the growth of the global e-learning market. E-learning content developers are focusing on developing bit-sized lessons and deploying learning modules in sprints to match the daily routine of mobile users. Services providers are focusing on developing new e-learning content through continuous news feeds, peer-to-peer challenges, flashcards, and content collaboration to attract many consumers and introduce learning modules.
The growth of the social media is paving the way for the emergence of new education paradigms such as hybrid and online learning. These new learning methods ensure the maximum amount of engagement levels and offer flexibility to end-users. The development of new modules will attribute to the growth of the e-learning market.
E-Learning Market Segmentation
The research report includes a detailed segmentation of the market by delivery mode, learning mode, type, end-user, and geography.
E-Learning Market - By Delivery Mode
Packaged content delivery mode to occupy the largest market share in the e-learning market during forecast period.
The e-learning market by delivery mode is categorized into packaged content, SaaS/LMS, and others. The packaged content delivery mode dominated the e-learning market occupying over 29% of the total market share. The packaged content segment consists of e-books, videos, and simulations, which is a major part of the online learning module. These courses are available on various digital platforms that are prepared in accordance with regulations and standards. The introduction of assessments and component questions for special kind of learning content is creating the demand for packaged learning in the global e-learning market. IMS Question and Test Interoperability (QTI) are the specifications introduced to standardize the assessment in packaging and delivery of content in this market.
E-Learning Market - By Learning Model
Self-paced learning to dominate the e-learning market during the forecast period.
The e-learning market by learning mode is classified into self-paced and instructor-led learning. The self-paced learning mode was the largest segment in the e-learning market accounting for over 77% of the total market share in 2017 and is expected to reach $43.54 billion during the forecast period. North America captured approximately 50% of the total self-paced learning market share in 2017. Growing preference toward continuous learning and using technology to access content anytime and from anywhere are driving the growth of this segment in the global e-learning market. The growing demand for self-paced learning module from the corporate sector will create new opportunities for vendors in this market during the forecast period.
E-Learning Market - By Type
The training segment in the e-learning market to occupy the largest market share during the forecast period.
The e-learning market by type is segmented into training and testing segments. The training segment dominated the e-learning market occupying close to39% of the total market share in 2017 and will reach revenue of $55.15 billion during the forecast period. The training segment functions through the interaction of the user with the courseware or LMS systems. This type of learning module includes a wide variety of audio and video content that can be streamed or stored as per the learner's requirement. The growing demand for LMS systems from professional, governmental-related, and academic sectors is propelling the growth training segment in the global e-learning market.
E-Learning Market - By End-Users
Corporate sectors to grow at the fastest CAGR in the e-learning market during the forecast period.
The end-user segment in the e-learning market is classified into K-12, higher education, corporates, government, and vocational. The corporate segment was the fastest growing end-user segment in the global e-learning market generating revenue of$12.85 billion in 2017 and is projected to grow at a CAGR of 9.76% during the forecast period. The shift toward cloud-based learning that is cost-effective, efficient, and time-saving will boost the growth of the corporate sector in the e-learning market. The growing demand for training programs and content covers compliance and IT management and industry related courses is driving the market for e-learning in the corporate sector.
E-Learning Market - By Geography
North America to dominate the e-learning market share during the forecast period.
The geographical segment in the e-learning market is classified into North America, APAC, Europe, MEA, and Latin America. The US and Canada are the largest revenue generators in the e-learning market in North America. The increasing availability of internet infrastructure and the high penetration of smartphones and tablets in North America are driving the growth of the e-learning market in the region. Advantages such as extensive access to innovative learning and training solutions are propelling the demand for e-learning modules in the North American market. Vendors are focusing on offering learning modules with high engagement levels, degree of customization, and the quality of content to gain the market share in the e-learning market in North America.
Key Vendor Analysis
The e-learning market is primarily driven by the leading vendors that occupy major market shares. Service providers are focusing on offering customized learning modules that match requirements of consumers, thereby increasing market share in the global e-learning market. The introduction of various modules of LMS, packaged content, and amplified learning courses will help the prominent players attract a wide customer base from different end-user segments. The launch of freemium offerings with attractive short-term subscription pricing and increasing investment for product development is developing new opportunities for new entrants in the global e-learning market.
Market Growth Enablers
Increase in Penetration of Internet and Internet-enabled Devices
Global Workforce and Migration of Skilled Labors
Digitization Initiatives in Learning and Training Avenues
Perennial Private Investments in Digital Language Learning
Market Growth Restraint
Need for Continuous Product Innovation
Variability in Hardware and Software
Limited Access to Closed Markets and Platforms and Losing Bargaining Power
Inadequate Internet Bandwidth in Developing Countries
Lack of Viable Revenue and Monetization Models
Market Opportunities & trends
Increase in Going Mobile and Going Social Trend
Blended Learning to Emerge as a Norm in Education Technology