E-learning market is anticipated to reach near USD 479 Billion by 2027
The advent of the E-learning concept dates back to 1999, when renowned educator and researcher Elliot Masie first used the term at a Cognitive Behavioral Therapy (CBT) seminar. E-learning has since evolved incredibly in the education, training, and business sectors. It offers numerous advantages over traditional education, such as self-paced learning and cost-effectiveness. Moreover, it allows students to choose their own learning environments and eliminates various geographical barriers associated with classroom learning. Learning Management Systems (LMS) form the core of e-learning. These systems are based on software that enables the documentation, automation, tracking, and delivery of educational courses. The best-known LMSs include Adobe Captivate Prime, Blackboard Learn, Moodle, Simplilearn, Canvas, Talent LMS, SAP Litmos LMS, and LearnUpon LMS. Moreover, the e-learning market's growth has been synonymous with the rise in educational technology (edtech) platforms, including Coursera, edX, Byju’s, Udemy, Unacademy, Knowbox, and Udacity.
According to the report, "Global E-Learning Market Outlook, 2027" published by Bonafide Research, the market stood at around USD 252 Billion in 2021, which is anticipated to reach near USD 479 Billion during the forecast period, registering a CAGR of more than 11% for 2022-2027. The introduction of new technologies like AI, VR, and LMS drove the market's growth. The emergence of an AI-enabled solution aids the development of smart content, digitized study guides, and real-time questioning. Immersive technologies are enhancing communication, collaboration, and building stronger engagement during the session. Such benefits are to encourage the focus on implementing better technologies to improve the learning experience.
Based on technology, the virtual classroom segment dominates the market, holding nearly 40% of the market. The online education market and content delivery are seeing a paradigm shift from content delivery to quick interactive learning platforms, allowing the rapid e-learning segment to grow with prominent market share during the forecast period. The increasing focus on mobile-learning and cloud infrastructure adoption to derive scalability will create lucrative opportunities for leading online education companies in the market. The m-learning segment is expected to show a shift of USD 65 billion from 2016 to 2027.
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Aspects Covered In the Report
Link to full report: https://www.bonafideresearch.com/product/210719821/global-e-learning-market