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Global e-learning market to grow with the CAGR of more than 11% by 2026: Actual Market Research
Jul, 06
2021

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Global e-learning market to grow with the CAGR of more than 11% by 2026: Actual Market Research

 

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E-learning is generally for everyone but widely used by Generation Y. This audience is anyone born after 1980, usually tech-savvy, but they also have limited patience. Employees today are keen to learn and upskill. If an organization does not provide ample learning opportunities, its employees may join a competitor. Today's learners want personalized content at their point of need. Since they are mostly on the move, they prefer being able to access content anytime and from anywhere. With a wide range of people looking forward to bringing up gradation in their learning, the e-learning market is expected to grow over a CAGR of 11% in the coming years. Learners are busy multitasking and have a limited attention span. If organizations want them to learn something new, they have to offer bite-sized pieces of information that do not take too much time to consume. This is making the corporate segment one of the major end-user of the industry, expected to grow at a rate over 10% in the forecasted period. The research report titled Global E-Learning Market Overview, 2020-26 by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based by Technology, by Provider, by Application, based on region, countries & major companies.

With online learning, learners can access content anywhere and anytime. They don't need to take extra time out to attend classes. Based on technology, the virtual classroom segment dominates the market, holding nearly 40% of the market. It is also cost-effective; can save a substantial amount on the travel and accommodation costs of learners and instructors, as well as the venue and materials. No printing helps reduce carbon footprint, too. Modern learners prefer bite-sized, interactive content, and would rather watch a video or listen to a podcast than read through pages of a manual. With the inclusion of AI tools, the companies can make the training sessions interactive, similar to the traditional classroom sessions. The more engaging the content is, the better the learners remember information. Considering the provider segment, the content category holds over 95% of the market. 

The Asia e-learning market largely includes low-and moderately priced course modules due to the price-sensitive nature of the region. The scalability of learning, content, and duration that is taken can be reasonably measured. It is beneficial to those who feel nervous and disconnected in groups. It helps one learn without having to give up the comforts of the environment. The method is made available at much-reduced costs. The importance of E-Learning education is that it is quick and does not require much cost. The long training period, infrastructure, stationery, travel expenses, etc. is reduced. The effectiveness of the transferred or imparted knowledge and learning is high and powerful. It makes information easy to grasp and absorb. The Audio-Visuals help in remembering knowledge for a longer time. Also, the courses which tutors prepare are well-planned.

Mobility assured is a very comfortable and affordable option. Taking revision and getting hands-on different courses is not that simple in traditional classes. Contrary to that, missed lessons can always be taken again online. This makes it easier for tutors to impart the right information. E-learning's significant impact on reducing carbon emissions will hopefully encourage even more people to take it up. Digitization is also expected to drive greater administrative productivity and efficiencies in the education sector. However, on the darker side, the e-learning market is brimming with a huge digital divide due to unequal distribution of resources, unaffordability, lack of skills and knowledge, and lack of support from the government.