E-learning Market Analysis

E-learning Market Analysis

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The content segment held over USD 200 billion e-learning market share in 2022. E-learning content providers share materials on various topics by collaborating with subject experts, who help them develop the learning content. They focus on offering specific & customized content as per end-user requirements. LMS platforms enable learners to easily access these online courses. Some prominent e-learning content providers include Udacity, Coursera, and LinkedIn Learning. These service & content providers are forming strategic partnerships to add value to the content and provide robust tracking capabilities that are easier to manage and scale. In December 2021, Skillsoft and Udemy Business entered into a partnership to empower technical skills & competency mastery. Under this alliance, Skillsoft merged Udemy’s content into its Percipio platform, optimizing the overall learning experience across the enterprise and allowing learners to acquire new skills & develop the existing ones more effectively.

The learning management system market is poised to observe around 18% CAGR during the forecast period. The increasing government initiatives for the digitization of educational infrastructure and the rising BYOD trend will fuel the demand for LMS over the estimated timeframe. LMS technology allows the delivery, management, planning, and evaluation of content for educational courses. This software-based program provides the necessary infrastructure, framework, and tools for online training. LMS enables educational institutions and corporate organizations to create & manage courses, lessons, and other training materials. It is majorly used in large companies for training employees at a rapid pace. Managing many activities, training modules, and assessments on different platforms can be complicated and time-consuming. The need for maintaining a wide range of platforms for a diverse workforce will fuel the demand for integrated LMS.

The e-learning market from corporate segment will expand at over 15% CAGR through 2032. The shortage of skilled labor has fueled the demand for e-learning courses in the corporate sector. According to the Mercer 2022 Global Talent Trends study, nearly 70% of companies face issues in terms of hiring the right talent at a suitable salary point. To address these issues, enterprises across India are emphasizing resetting the skills agenda to achieve both future & current talent needs. This shift in market dynamics will accelerate the need for LMS, mobile learning, and virtual classroom technology across the corporate sector for training employees at a rapid pace.

The Asia Pacific e-learning market dominated more than USD 60 billion revenue in 2022, due to the improving internet infrastructure Several government organizations in the region are focused on developing the internet infrastructure. The Asia Pacific Information Superhighway is an initiative to increase the affordability & availability of the internet across the region by strengthening the required infrastructure, thereby driving the adoption of mobile learning.

Strong internet connectivity facilitates the smooth streaming of videos by considerably reducing buffering time. There is an increasing awareness about education, which can be attributed to the government efforts targeted at improving literacy rates. The improving economic conditions in Asia Pacific will also contribute to the e-learning market growth. 'Developing Asia' refers to a group of 45 countries that are members of the Asian Development Bank. While the second and third waves of the COVID-19 outbreak posed uncertainties regarding economic growth, the region’s economic revival was supported by a healthy global recovery and progress on vaccines.