The global education industry has undergone a series of drastic changes during the epidemic. The e-learning industry has seen remarkable progress worldwide, with the term ‘remote’ gaining significant significance. The size of the global e-learning market was estimated at 250 250 billion by 2020, the year that witnessed the first wave of the COVID-19 crisis.
When E-learning market Prior to the growth epidemic, the global coronavirus injury caused a significant boom in the industry. According to 2021 Impact Report By Coursera, a US-based online course provider, 20 million new students enrolled for the course in 2021, the equivalent of the total increase in enrollment in the three years before the epidemic.
According to the survey, the APAC course recorded the highest student attendance, with 28 million new online students following North America, Europe and Latin America. By country, the US tops the list with 17 million online learning enrollments, followed by India at 13.6 million and Mexico at 5 million. Brazil and China have confirmed 4M And 5M Location respectively.
Epidemics and their variants have triggered a structural change, paving the way for disruptions in the market for technologies such as automation, virtual reality (VR) and artificial intelligence (AI). The technological revolution places more emphasis than ever before on technological advances in order to evolve with a rapidly changing world.
Global Market Insights Inc. An in-depth analysis of global e-learning market trends and predicts the four key developments in the industry listed below:
E-learning is projected to become a trillion dollar market by 2027
According to World Economic Forum Report 2020, More than 1.2 billion children were out of the classroom due to global school closures during the epidemic. This situation has led to a major shift towards e-learning as a medium of instruction. As change continues to unfold even as events unfold, it is rather universally agreed that the e-learning industry is set to become one of the most lucrative ways to invest in the years to come.
The research will increase the CAGR of 21% of the global e-learning industry by 2027. Digitized guides, customized programs, as well as the popularity of learning at your own pace will further encourage the adoption of e-learning.
Asia Pacific will capture about 1/4 share of global e-learning market share by 2027
There has been a huge demand for online courses in the last few years in the Asia Pacific region. The expanding higher education sector with corporate bodies involved in employee training programs has led to the evolution of the e-learning market across the continent.
The online e-learning market at APAC will register a CAGR of over 24% by 2027 and will dominate the technology landscape.
Looking at the applications, huge investments can be seen across the academic sector, initially higher education, then the corporate sector. By 2027, APAC will have more than 50% academic applications in the e-learning market.
In terms of the regional landscape, the e-learning market in India will record significant profits in the coming years. As of March 2021, the country had more than 825 million Internet users, indicating easy access to online education for a large population.
Moreover, a number of e-learning platforms have emerged in the country in the last few years, pointing to the potential for significant growth. While not much progress has yet been made in terms of technological advancement, it is undeniable that the pace of e-learning adoption is massive due to its advantages, affordability and quality of learning. The e-learning industry in India is expected to register a double-digit CAGR by 2027.
Online e-learning will rule the technology landscape by 2027
The education sector has actively responded to the changing needs in the epidemic. Companies are using their power to make education more accessible and convenient when educational institutions are closed. This change has led to a massive increase in online learning.
In 2020, Whan witnessed the largest ‘online movement’ in the history of world education with about 730,000 K-12 students taking classes through the Tencent K-12 online school. The incident comes after the Chinese government announced in February 2020 that it had instructed a quarter of a billion full-time students to continue their studies using online platforms.
Even with the declining number of COVID-19 cases worldwide, online learning still stands as an integral part of the education system. Affordability, flexibility, customized learning and a wide range of programs will further increase the popularity of online education in the years to come. Companies are expected to invest heavily in technological upgrades and content creation to stay relevant in a highly dynamic market.
According to the survey, the online e-learning market is projected to occupy more than 40% of the technology landscape by 2027, followed by mobile e-learning. The e-learning market segmentation in terms of technology includes online e-learning, Education management systemQuick e-learning, mobile e-learning, and virtual classrooms.
Academic e-learning will account for more than 50% of the global market size by 2027
As the digital transformation in education accelerated, the academic e-learning market grew rapidly. According to the survey, by 2027 the academic e-learning industry will account for more than half of the application share, with K-12 and higher education contributing a large part.
Technology companies are aggressively exploiting market potential. In recent events, AT&T in collaboration with WarnerMedia recently announced the launch of ‘The Achievery’, a free digital learning platform aimed at making distance learning more entertaining, engaging and inspiring for K-12 students.
Regionally, the size of the academic e-learning market in the United States will witness a CAGR of about 17% by 2027. India will also see significant growth in the academic e-learning market driven by the growing demand for higher education, the growing spread of the Internet and technological advances. Will support growth.
Looking at the overview of the e-learning industry and the many opportunities ahead, it is rather clear that e-learning could become an influential medium of instruction and learning in the years to come. Companies will be seen to leverage their innovative strategies to stay ahead in highly competitive and dynamic landscapes. Strategic collaboration and partnerships can spark a competitive hierarchy. The upgraded technology and innovative capabilities will help companies realize the enormous potential of e-learning solutions.