Multi-Billion Opportunities in the E-Learning Market, Projected Revenue of $491.35 Billion by 2028 – Arizton
According to Arizton’s latest research report, the e-learning market will grow at a CAGR of 13.28% during 2022-2028.
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Digital Transformation Revolutionizes Corporate Learning and Workforce Development
Digitization influences the way institutions and corporates work by offering just-in-time training solutions. Education has become more goal-oriented and measurable. Learning is no longer confined to a particular place or time. Digitization in learning has become a key success factor for corporations. The advanced application of technologies develops new standards for corporate learning and training. It helps transform the traditional way of doing things, as quick changes, such as work by innovative technologies, pose challenges for organizations. Businesses have become more intercontinental and globalized, thereby increasing the adoption of remote working and telecommuting.
By 2030, the skills required in the workforce will be drastically distinct from those valued today. Appropriate learning and training strategies are required to cope with the new transformation in technology. Organizations will be more focused on digitized learning. Automation and artificial intelligence will accelerate the shift in skills required by the workforce. Alleviating organizational risks from shifting workforce trends requires various strategies, including redeploying, retraining, and hiring. Hiring individuals with the required skills will necessitate the elements of learning and development.
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Moreover, adopting 5G technology in the education sector has brought huge transformations in the learning experience with high video and audio quality with a seamless VR experience. The concept of virtual classrooms could be enhanced through 5G technology using high-performance AR and VR technologies. The holographic visuals will engage learners more effectively and help improve their learning standards. The concept of adopting 5G technology is at a nascent stage. It is expected to grow as many E-learning companies are expected to start developing applications compatible with 5G technology.
E-Learning Landscape with Advanced Infrastructure and Diverse Tech-Enabled Education Platforms Gaining Popularity in the US
Nearly 83% of classrooms in the US are equipped with high Wi-Fi accessibility, thereby engaging in new types of internet-based content, including virtual and augmented reality.
The United States outperforms major industrialized economies across various measures when it comes to the implementation of E-learning. In 2022, the country had a well-developed communication infrastructure, with internet penetration exceeding 91% and smartphone penetration exceeding 96%. Although the literacy rate in the country has remained steady over the previous decade, over 15% of the American population cannot read. Furthermore, 18%–21% of American adults have a reading level below the fifth grade. Therefore, the US leads to a promising future for the E-learning industry.
Packaged Content to Dominate the E-Learning Market
Packaging content encompasses raw material, assembly, delivery, and information presentation. Assessments and the questions that comprise them are a subset of learning content that is now addressed by a different set of specifications. Questions and tests can be moved between systems when learning content is addressed. The IMS Question and Test Interoperability (QTI) standard aims to standardize assessment packing and delivery.
The demand for E-learning as packaged content is growing, owing primarily to corporates’ need to gain skills. For example, expertise in businesses such as virtual reality, artificial intelligence, and big data are in high demand. This has resulted in tremendous company growth over the last few years. With increasing corporate requirements, the bundled E-learning content industry will continue to rise.
Packaged content standards and specifications aim to allow organizations to transmit content from one learning system to another. It is important because the content can be developed by one tool, modified by another, stored in a depository kept by one vendor, and used in the delivery environment created by distinct suppliers. Content packages are the process of putting objects and information together to create larger learning units.
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Key Company Profiles
- Apollo Education Group
- Blackboard
- British Council
- Oracle
- Pearson
- Aptara
- Adobe
- Skillsoft
- NIIT
- Cisco
- Instructure
- GP Strategies
- Thomson Reuters
- Docebo
- McGraw Hill
- Desire2Learn
- Edmodo
- Cengage
- Macmillan Education
- Cornerstone
- Educomp
- Cogna Educacao
- Telefonica
- edX
- Estacio
- Coursera
- SAP Litmos
- Open Education
- Veduca
- LinkedIn (Microsoft)
- Simplilearn
- Think & Learn (BYJU’S)
- upGrad
- LeQuest
- FutureLearn
- L2P (Learn 2 Play)
- Chegg
- Bright Little Labs
- Aula Education
- WhiteHat Security
- Blinkist
- Age of Learning
- Learnetic
- Elearn Australia
- 360Learning
- Udemy
- Skillshare
- Udacity
- Pluralsight
- Alison
- Babbel
- Treehouse
- Unacademy
- Duolingo
- Tracxn Technologies
- IGNOU
- BenchPrep
- Coassemble
- Codecademy
- CrossKnowledge
- FutureLearn
- GoSkills
- iHASCO
- ITPro
- Khan Academy
- MasterClass
- OpenSesame
- Rosetta Stone
- Teachlr
- DataCamp
- BrainStation
- Cengage Learning India
- Estácio
- Telefónica Learning Services
- Learnetic
Market Segmentation
Delivery Mode
- Packaged Content
- LMS
- Others
Learning Mode
- Self-paced
- Instructor-led
Function Type
- Training
- Testing
End-user
- Corporate
- Higher Education
- K-12
- Government
- Vocational
Geography
- North America
- The U.S.
- Canada
- APAC
- China
- South Korea
- Japan
- Australia
- India
- Singapore
- Indonesia
- Malaysia
- Thailand
- Philippines
- Europe
- The UK
- Germany
- France
- Nordic
- Spain
- Italy
- Russia
- Benelux
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Middle East & Africa
- The GCC
- South Africa
- Turkey
- Egypt
- Israel
- Kenya
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