4 Key Developments in the Global E-Learning Market in 2022 and Beyond

The global education industry has undergone a drastic shift of sorts during the pandemic. With the word ‘remote’ gaining crucial significance, the e-learning industry has seen commendable strides worldwide. The global e-learning market size was estimated at USD 250 billion in 2020, the year which witnessed the first wave of the COVID-19 crisis.
 

While the e-learning market growth predates the pandemic, the worldwide coronavirus hit caused a substantial boom in the industry. According to the 2021 Impact Report by Coursera, a U.S.-based online course provider, 20 million new learners registered for courses in 2021, a number equivalent to the total growth registered in the three years before the pandemic.

According to the study, APAC recorded the largest student presence with 28 million new online learners on Coursera followed by North America, Europe, and Latin America. Going by country, the U.S. topped the list with 17 million online learning enrollments, followed by India standing at 13.6 million, and Mexico accounting for 5 million. Brazil and China secured the 4^th and 5^th positions respectively.
 

The pandemic and its variants have stirred a structural change, paving way for technologies such as automation, Virtual Reality (VR), and Artificial Intelligence (AI) to cause disruptions in markets. The technological revolution more than ever emphasizes technical upskilling to evolve with the fast-changing world.
 

Global Market Insights Inc. conducted an in-depth global e-learning market trends analysis and forecast the four key developments in the industry as listed below:
 

E-learning is estimated to become a trillion-dollar market by 2027

According to the World Economic Forum Report 2020, over 1.2 billion children were out of the classroom due to the shutdown of schools globally amid the pandemic. The situation led to a massive shift toward e-learning as a means of education. As the shift persists even with the cases observing a dip, it is rather agreeable on a worldwide scale that the e-learning industry is going to be one of the most profitable investment avenues in the coming years.
 

The study projects the worldwide e-learning industry to grow at a CAGR of 21% through 2027. Along with the pandemic aftermath, which is acting as a significant growth driver, factors such as technological advancements, better engagement & learning experiences, smart content & digitized guides, customized programs, as well as the popularity of the learn at your own pace model will further fuel the e-learning adoption.
 

The Asia Pacific to hold nearly 1/4th of the global e-learning market share by 2027

There has been a massive demand for online courses in the Asia Pacific in the past few years. The expanding higher education sector along with the corporate entities indulging in employee training programs has led to the evolution of the e-learning market in the continent.
 

The online e-learning market in the APAC is estimated to register a CAGR of more than 24% through 2027 and would dominate the technology landscape.
 

Going by the applications, huge investments would be seen across the academic sectors, primarily higher education, followed by the corporate sector. Academic applications will account for more than 50% of the APAC e-learning market by 2027.
 

In terms of the regional landscape, e-learning market in India would record significant gains in the coming years. As of March 2021, the country had more than 825 million internet users, indicating easy access to online education to a major population chunk.
 

Moreover, several e-learning platforms have mushroomed in the country in the past few years, pointing toward substantial growth prospects. Though considerable progress is yet to be made in terms of technological advancements, it is undeniable that the e-learning adoption pace is massive given its convenience, affordability, and quality of learning. The e-learning industry in India is projected to register a double-digit CAGR through 2027.
 

Online E-learning to rule the technology landscape by 2027

The education sector has responded proactively to the changing demands amid the pandemic. Companies have been leveraging their capabilities to make education accessible and convenient during times when educational institutions have been shut down. This shift has caused a massive rise in online learning.
 

In the year 2020, the world witnessed the largest ‘online movement’ in the history of education with nearly 730,000 K-12 students taking classes through Tencent K-12 Online School in Wuhan. The event occurred post the announcement by the Chinese government in Feb 2020, instructing a quarter billion full-time students to continue their studies using online platforms.
 

Even with the COVID-19 cases dropping on a global scale, online learning is still standing tall as an integral component of the education system. The affordability, flexibility, customized learning, and a wide range of programs will further add to the popularity of online learning in the coming years. Companies are expected to invest heftily in technological up-gradation and content creation to stay relevant in the highly dynamic market.
 

As per the study, the online e-learning market is estimated to hold more than 40% of the technology landscape by 2027, followed by mobile e-learning. E-learning market segmentation in terms of technology comprises online e-learning, learning management systems, rapid e-learning, mobile e-learning, and virtual classrooms.
 

Academic e-learning to account for more than 50% of the global market size by 2027

With digital transformation accelerating across the education sector, the academic e-learning market has seen rapid growth. As per the study, the academic e-learning industry will account for more than half of the application share by 2027, with K-12 and higher education contributing to a sizable chunk.
 

Technology companies are aggressively utilizing their capabilities to tap the market potential. In a recent turn of events, AT&T in collaboration with WarnerMedia recently announced the launch of ‘The Achievery’, a free digital learning platform aiming to make distance learning more entertaining, engaging, and inspiring for K-12 students.
 

Regionally, the academic e-learning market size in the U.S. will witness approximately 17% CAGR through 2027. India would also see substantial growth in the academic e-learning market driven by the growing demand for higher education, rising internet proliferation, and technological advancements will support the growth.
 

Looking at the e-learning industry overview and a slew of opportunities that lie ahead, it is rather overt that e-learning may become a dominant means of delivering education and learning in the coming years. Companies would be seen leveling up their innovative strategies to stay ahead in the highly competitive and dynamic landscape. Strategic collaborations and partnerships may stir the competitive hierarchy. Companies with upgraded technological and innovative capabilities will help in realizing the enormous potential of e-learning solutions.