The market for e-learning is expected to grow at a CAGR of around 15.9% from 2020 to 2027 and expected to reach the market value of around US$ 660.8 Bn by 2027.
A learning system based on formalized teaching but with the help of electronic devices like computer, tablets, and mobile phones is known as e-learning or electronic learning.
The rising demand for cost-effective training and learning techniques in corporate and academic sectors is driving the market growth. The growing volume of the course content makes it creating difficulties for these sectors to manage and store such a large amount of data in their stores or libraries, this is where the electronic method of content delivery enables them to store and manage their huge information in online websites or applications. Additionally, the increasing adoption of the cloud-based platforms in the eLearning market along with the rising awareness among the developing economies is providing flexibility in content storage, accessibility, and processing is additionally boosting the market value. The key advantages associated with the cloud learning platform are remote access, security, data backup, and cost-effectiveness; these are further bolstering the market value.
On the other hand, lack of peer to peer interaction, slow internet connection and poor network in some economies, and adaptability issues are the factors likely to limit the growth over the forecast period from 2020 to 2027.
Covid-19 Impact on the eLearning market
This pandemic has badly affected almost every industry vertical across the globe especially in financial year 2020. However, this covid-19 pandemic has given a boost to the e-learning market as most of the students need to skip the physical learning infrastructure and adapted the electronic platform for their learning’s which has given a boost to the market. Apart from this, professionals have also enrolled in the e-learning platform during this period as a part of their skill development and spare time utilization. The pandemic is also anticipated to create potential opportunities over the forecast period from 2020 to 2027. Most of the developing countries have uplifted their IT infrastructure in order to increase connectivity across the country as well as to promote contactless payment in the pandemic period to avoid one to one interaction.
Segment Instance of Global E-learning Market
Mobile e-learning segment is projected to exhibit fastest growth during the forecast period from 2020 to 2027
On the basis of technology, the mobile e-learning segment is anticipated to exhibit the fastest growth with a major CAGR (%) during the forecast period from 2020 to 2027. The increasing number of mobile phone users along with the suitable data pack connection is proliferating the segmental market value.
North America accounted for the maximum revenue share E-learning Market
In 2019, North America dominated the e-learning market in terms of revenue (US$ Mn), and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The major economies like the US and Canada are the major revenue contributor in the regional market. The strong presence of electronic devices in the region that can support the e-learning platform is primarily driving the market value.
Asia Pacific is projected to exhibit fastest growth during the forecast period from 2020 to 2027
Asia Pacific along with its major developing economies including China and India is projected to experience the fastest growth in the near estimated period. The rapidly developing telecommunication industry is supporting the growth of e-learning as it eases the connectivity among the countries and international market. The increasing disposable income is boosting the number of mobile phone users as well as data pack recharges; it’s another major factor supporting the growth of e-learning in the regional market.
Key Market Players
The players profiled in the report include Adobe Systems, Inc., Allen Interactions, Inc., Apollo Education Group, Aptara, Inc., CERTPOINT Systems, Inc., Cisco Systems, Inc., Citrix Education, Cornerstone, Learning Pool, Meridian Knowledge Solutions, Microsoft Corporation, NetDimensions, Oracle Corporation, and SAP SE among others.
Market By Technology
Learning Management System (LMS)
Market By Deployment Mode
Market By Provider
The market for e-learning is expected to reach a market value of around US$ 660.8 Bn by 2027.
The e-learning market is expected to grow at a CAGR of around 15.9% from 2020 to 2027.
Mobile e-learning is the fastest growing segment by Provider in the global e-learning market
The rising demand for cost-effective training and learning techniques in corporate and academic sectors, growing volume of the course content, increasing adoption of the cloud-based platforms in the eLearning market, rising awareness among the developing economies are some for the key drivers of the global e-learning market.
Adobe Systems, Inc., Allen Interactions, Inc., Apollo Education Group, Aptara, Inc., CERTPOINT Systems, Inc., Cisco Systems, Inc., Citrix Education, Cornerstone, Learning Pool, Meridian Knowledge Solutions, Microsoft Corporation, NetDimensions, Oracle Corporation, and SAP SE among others are the prominent players in the E-learning market
North America held the highest market share in the E-learning market
Asia Pacific is expected to be the fastest growing market over the forecast period