Summary – A new market study, “Global Online Learning Market - 2019-2026”has been featured on WiseGuyReports.
The Global Online Learning market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.Due to the increase in demand for cost-effective, efficient learning techniques coupled with favorable government policies will grow the market for online learning in the forecast period.
Online learning traces its roots back to 1960, University of Illinois, where the concept of accessing course material online was implemented for the first time. An intranet connection was established where students could find pre-recorded lectures books by using computers which could connect to the intranet.Now, however, the term ‘Online Learning” refers to using the content of various forms like tutorials, podcasts, and recorded lectures, e-Books, etc. found on the internet to learn. This has, of course, brought over a phenomenal shift in the way students are taught in schools and universities and brought home the idea of ‘learn from anywhere.’
The report covers all the major trends and drivers playing a key role in the growth of the Online Learning market.Online Learning market is segmented by User Type, Technology, Provider, and Region.
The Global Online Learning Market is primarily driven by the rising demand for cost-effective learning and training techniques. The need of the hour is efficient training, and learning methods have proven to be a boon for the Market as Online Learning has emerged as the one-stop solution to a variety of problems with traditional learning methods. With the rise in internet penetration all around the world,specially in developing countries like India, Brazil, and China is helping people get access to online learning. Therefore, market players have started adopting cloud-based e-Learning platforms to provide flexibility in content storage.
The increase in the number of smartphone and tablets sales every year is another major driver for this market as it has effectively increased the consumer base by a huge amount. The growing applications of technology in academic institutes, be it by offering more distance learning programs, or by using Learning Management Systems is another reason which augments this market. With the increase in smartphones and tablets have asked for more production of them. For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014.
This market does have a few factors that restrain it, though. The fact that online learning requires constant access to an internet connection means it would be hard to witness growth in areas with slow internet connectivity/ a lack of internet access. Also, the shift from traditional learning methods to technically advanced techniques requires a certain amount of prior knowledge. This transition would be difficult for those who aren’t ready to learn, and that poses another problem.
By User Type, the Global Online Learning Market is segmented into Academic Users and Corporate Users. The Academic User segment stands to take a major part of the market share, primarily because of the vast number of users and platforms available. The major reason why this happens is the fact that the term ‘academic users’ is an all-encompassing one, covering everything from standard educational use in universities, to pretty much anyone with access to an internet connection enrolling in courses online, from a place of their convenience. This segment is also forecasted to retain the tag of the fastest-growing segment in the period too. An Internshala survey has found that the number of students enrolled in an online course has increased six-fold in three years, from 2015-2018. Therefore, this trend suggests a significant rise in the use of online learning to develop and enhance skills.The Corporate Segment is also poised to have a healthy growth rate during the forecast period due to the plan of various organizations to provide online learning platforms to their employee
By Technology, the Global Online Learning Market is segmented into Mobile e-Learning Platforms, Learning Management Systems, Podcasts, Virtual Classrooms, Service Providers, and Content Providers. This segment is projected to be dominated by the Mobile e-Learning Platforms due to the increasing smartphone sales across the world, which effectively boosts the customer base by a huge amount. Smartphone sales in the year 2017, was put around 15.5 billion units, an increase of nearly 300 million units from the previous year. The advantage of smartphone applications over others is the mobility and ease of access to the content they provide.
By geography, the global Online Learningmarket is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
The Global Online Learning Market is expected to be concentrated in North America during the forecast period owing to the rising use of such e-Learning Platforms in corporate organizations across the region. The United States is going to have the majority market share as students and adults alike continue to increase their usage of online learning websites and applications. A recent survey conducted in the United States by BestColleges concluded that almost 50% of consumers choose Online Learning because of prior commitments and the advantages of deciding when to learn themselves.
The APAC region is also projected to have an expansion in market size due to the increased penetration of smartphones throughout the region. Another major favorable factor is the government policies aimed at promoting literacy in the nation. For example, the Indian Government has begun funding the project called e-Paathshaala, where interested people can find free access to textbooks and lectures. Apart from this, the Central Board of Secondary Education’s e-CBSE mobile app is another example of such government schemes in favor of augmenting the size of the market.
Key players are adopting strategies such as investing in R&D,new product launches, expansion in technologyto stand out as strong competitors in the market. Global Online Learning is a competitive market with the presence of various global and regional players in the market. The major playersare Aptara, Inc., Adobe Systems Inc., Cornerstone, Citrix Education, and Meridian Knowledge Solutions. Other key players in the market include Microsoft Corporation, Oracle Corporation, Cisco Systems, Apollo Education Group, and Learning Pool.
In June 2019, Live interactive online tutoring company Vedantu has launched a new platform called Wave, touted as India's first online live interactive learning platform. They have based on artificial intelligence and machine learning technology to offer personalized teaching and learning for each child.
In October 2018, B Online Learning, an experienced learning company, released their Software-as-a-Service (SaaS) learning platform, Birch at DevLearn in Las Vegas.Birch is a unique, holistic learning platform that adapts to your organization’s needs. With unmatched flexibility, simple management, and intuitive user experience, Birch will bring out your people’s natural talent for learning.
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