Knowledge as a Force Multiplier for Economic Development & Robust Enterprise Adoption of the Culture of Learning to Outperform Competition Drive Global Opportunities for e-Learning
The
global market for e-Learning is forecast to reach US$406 billion by 2024, driven
by the growing emphasis placed on building a knowledge base for securing higher
economic growth coupled with the rise of corporate e-learning.
e-Learning, defined as education imparted through electronic means, is
increasingly becoming an important part of the modern education system. Teaching
through technology as against the conventional chalk and board style of
schooling, provides numerous advantages. Benefits of e-learning which are quite
literally transforming education in the 21st century include versatile and
flexibility as the learning pattern can be customized to suit all learning
needs; audio visual learning tools enable better knowledge retention;
information is made easy to understand and remember; higher degree of content
coverage across all subjects; cost effective as it eliminates the need for
infrastructure, travel, and other related expenditure; flexibility to listen to
lectures and access content for unlimited number of times; reduced need to take
down notes and enables more efficient management of time; reduced learning times;
environment friendly as it is a paperless route to education; unrivalled
convenience as it enables anytime, anywhere access to classrooms; encourages
active and independent learning behavior among students; enables focused
learning by allowing learners to selectively exclude subject matter elements
not relevant to them; reduces reliance on a single teacher as a source for help
and opens alternative sources of information via web forums, online tutorials, digital
libraries at no additional costs; faster delivery of education services
including user-need-specific content and enables easy development of required
competencies and skills for any profession, career or discipline.
Several forms and types of e-learning are beginning take shape ranging
from pure online, mixed learning, synchronous learning, asynchronous
learning, computer-based
training, digital collaboration, web-based learning, virtual education to audio
visual engagement. Few of the factors responsible for shaping growth of
e-learning in the academic and corporate environment include fast-paced
advancements in Internet technology including high-speed internet access,
bandwidth expansion, and launch of 4G/LTE networks; e-learning service
innovations; development new and potent e-learning technologies; rapid
penetration of smartphones and tablets and increase use of the same for
education supported by digitalizing lifestyles of consumers; falling mobile
data and fixed line internet tariffs and the ensuing robust rise in Internet
users; growing wave of BYOD in enterprises and the resulting popularity of
implementing corporate
e-learning and training via tablets and smartphones; and favorable
government initiatives that support the use of technology in education. A key
advantage of e-learning is self-paced learning anywhere, anytime on any device.
Few of the major factors and trends influencing growth include rise of Augmented
Reality (AR) & Virtual Reality (VR) technologies which promise to take e-learning
to the next level in efficiency enhancement; advances in artificial
intelligence in response to the strong demand for adaptive and personalized e-learning;
growing role of social media in e-learning; rise of cloud as the future of
e-learning application development and delivery; supportive government policies;
development of web conferencing as a major collaborative tool in e-learning;
and rise of m-learning as the future of e-learning, among others.
As stated by the new market research report on e-Learning,
Asia-Pacific ranks as the largest and the fastest growing market worldwide with
a CAGR of 19.4% led by factors such as growing importance of education
especially in Asian countries with competitive labor markets; lack of skilled
teachers in schools and colleges and the resulting increase in shadow
education, private online tutoring and adoption of self-reliant learning strategies
among students; and robust proliferation of smartphones and tablets and their
use as an education and learning tool. Australia ranks as the most mature
market, followed by China, India and South Korea.
Major players in the market include Absorb Software Inc., Aptara Inc., Cornerstone
OnDemand® Inc., Coursera Inc., Docebo, edX Inc., GetSmarter, Hurix Systems
Private Ltd., Macmillan Learning, Persona Learning, Adobe Systems Inc., Articulate
Global, Inc., bit media e-Learning Solution Deutschland GmbH, Blackboard, Inc.,
Cegos Group SA, Cisco Systems, Inc., City & Guilds Kineo, Desire2Learn
Incorporated, Fischer, Knoblauch & Co., HealthStream, Inc., Hewlett-Packard
Development Company, L.P., IMC AG, Inspired eLearning, Inc., International
Business Machines Corporation, IntraLearn Software Corp., NYIF.com, Oracle
Corp., Pearson, SAP SuccessFactors, Inc., SkillSoft, The Ken Blanchard
Companies, The McGraw-Hill Companies, Trivantis Corp. and Zenosis Limited among
others.
The research report titled “e-Learning
- Market Analysis, Trends, and
Forecasts” announced by Global
Industry Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market estimates and
projections for all major geographic markets such as the U.S., Canada, Japan,
Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (China,
India and Rest of Asia-Pacific) and Rest of World. Product segments analyzed in
the report include Academic and Corporate eLearning.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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