Online-Learning Market size valued USD 300 billion in 2020 and is anticipated to grow at over CAGR 9% between 2020 and 2026.
Major leading players operating in the online-learning market are Aptara, Inc., Meridian Knowledge Solutions, Adobe Systems, Inc., Citrix Education, Microsoft Corporation, SAP SE, Cornerstone, Learning Pool, and NetDimensions. Oracle Corporation, Apollo Education Group, Cisco Systems, Inc.
Some online learning technologies in 2020. AI is one of the most discussed topics in the educational industry. In education, Artificial intelligence is a vital technology which helps education in many ways. Personalized learning is one of the most significant areas of education that has utilized AI. In personalized learning, AI assists you to locate the best course material for you based on your identity, interests & your way for learning. Artificial intelligence replaced the old fashioned classroom. The use of AR visual content is able to catch the student’s attention. It guarantees the interaction of the learners in lessons, as they are seeing and experiencing what they are learning. The use AR to learn dynamic and complex concepts because it helps learners to visually observe complex 3D models instead of imagining it in mind. The eLearning industry is getting more powerful with the assistance of technologies like
ML (Machine Learning), ML is a sub-division of AI (Artificial Intelligence). Virtual Reality (VR), a computer technology that utilizes software-generated realistic images, sounds and other sensations to imitate a real situation, is another such technology, which has contributed to a major change in the education system.
Videos are among the most effective content elements on the internet today. When it comes to online learning and development, video is the more preferred medium compared to text documents. As an engaging and integrative content format, video is seen as a vital part of online education and workplace learning. More advanced visual technologies may also find their way into the e-learning industry. These technologies include virtual reality (VR) and augmented reality (AR). VR refers to the technology that provides users with an immersion experience that aims to shut out their actual physical environment. Meanwhile, AR adds digital elements to a live view produced by a digital device’s camera.
Schools and districts are faced with the challenge of maintaining the continuity of learning while the threat of school closure extensions is impending. The seemingly simple and immediate solution is to conduct school remotely using online resources. For instance, countries that were the first to be heavily impacted by the virus, such as China, South Korea, Italy, and Iran, have already shifted to temporary homeschooling via online educational tools and platforms. Online learning emerged as a safe and viable option for education continuity as the COVID-19 pandemic turned personal and professional worlds upside down. Even before the pandemic, the global e-learning market was already seeing a massive annual global growth. It is expected to reach $336.98 billion by 2026, at a compound annual growth rate (CAGR) of 9.2% from 2020 to 2026.
Market Segmentation is based on technology, Application and Region. By technology it has online e-learning, LMS, Mobile e-learning, rapid e-learning and Virtual classroom. By application it has Academic, Corporate and government. Geographically its segmented in North America, Asia-pacific, Europe and Row. Many government administrations globally have revolutionized market with advent of digitalization over the recent years. Government organizations are encouraging the incorporation of advanced techniques for economic development and social welfare. E-learning is a major project of the Ministry of Education, Canada that provides students with more choices to customize their education based on their strengths, needs, and interests. The Europe dominated more than 38% of market revenue share and will witness a steady growth through 2026 due to developed telecom infrastructure coupled with adoption of latest technologies across corporate and education sectors. Strong network connectivity is the primary requirement for an enhanced online learning experience. The deployment of 5G technology will facilitate seamless training and learning in a digital environment for employees and students.