E-Learning Market size likely to exceed revenue of USD 240 billion by 2023

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E-Learning Market size likely to exceed revenue of USD 240 billion
by 2023: Global Market Insights Inc.
E-learning market size is being valued over USD 165 billion in 2015 and is
likely to grow at over 5% from 2016 to 2023, exceeding USD 240 billion.
Factors such as low cost involvement accompanied by flexibility in learning are
expected to drive industry growth.
U.S. e-learning market size should be over USD 27 billion by 2016, owing to
rising significance of these services across the region. Ease of accessibility
along with improvised effectiveness due to animated learning is likely to
positively impact e-learning market size. In addition, increasing number of
internet users coupled with escalating number of internet enabled mobile phones
are anticipated to propel industry demand over the several upcoming years.
Increasing adoption from non-academic as well as academic sectors should
boost the industry demand for these services.
Increasing significance in corporate sectors will drive industry growth over the
forecast period. As the service providers provide these educational services
through latest technologies, it enables the user in having graphic-based and rich
media learning experience. Furthermore, these services are anticipated to
enhance employee productivity owing to which large numbers of firms are now
opting for e-learning solutions over the traditional learning methods. This in
turn is projected to positively impact e-learning market demand over next five
Technology obsolescence along with change management are the factors
anticipated to hamper the industry demand. Vendor-developer partnerships might
pose numerous industry challenges from 2016 to 2023. Need of highly developed
IT infrastructure is likely to pose a challenge to the industry demand for these
services. Escalating demand accompanied by rising awareness for distance
learning is likely to provide potential growth avenues to the numerous industry
participants. In addition, advent of these services on tablets is anticipated to fuel
the demand for the service over the forecast period.
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The industry can be segregated based on technology, product and vendors.
Corporate and academic e-Learning are the types of product encapsulating
product segment. Based on vender, the industry can be segregated into service
providers and content providers. On the basis of technology, the industry can be
segregated as rapid online learning, learning management system (LMS), mobile
e-learning, podcasts, virtual classroom, application simulation tool, knowledge
management system and learning Content Management System.
North America may witness substantial growth owing to U.S. being the major
region for adoption of these services and it is projected to exhibit significant
growth prospects from 2016 to 2023.
Asia Pacific, particularly the India e-learning market size is estimated to exhibit
highest growth, more than 17%, and is anticipated to play a key role in the global
industry. This can be attributed to increasing regulatory initiatives such as
government funded literacy development projects in small villages and rural
areas. This measure is forecast to drive the industry demand in the region. Sales
were valued at USD 5.2 billion in 2011 and close to USD 10 billion by the end of
2015, with major generation from package content sales. Furthermore, lack of
quality education along with affordability as well as convenience factors in the
region might propel the industry demand over the forecast timeframe.
Western Europe e-learning market size was valued around USD 6.5 billion in
2015 and is anticipated to be second largest industry for online learning solutions,
with expected gains of over 5.5% throughout the forecast period. The spur in the
region can be subjected to increasing adoption of these solutions in medium and
small sized businesses.
Latin America is expected to witness considerable growth from 2016 to 2023.
LATAM e-learning market share was valued around USD 1.4 billion in 2014 and
is likely to grow at a CAGR of over 14% over the next seven years. The positive
spike can be dedicated to advent of governmental programs for handing out the
laptops to the school students. Furthermore, private schools are now encouraging
students to bring tablets and computers in order ti improve learning skills among
Key industry participants in e-learning market share include encapsulate Apollo
Education Group, Adobe systems, Cisco Systems, HealthStream, SAP, Citrix,
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McGrawHill, Oracle, Aptara, Cornerstone On Demand, Edmodo,
NetDimensions, Saba Software, Schoology, Desire2Learn, Skillsoft, SumTotal
Systems, Microsoft, Blackkboard, Pearson and Skill Soft.
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Jack Davis
Corporate Sales, USA
Global Market Insights, Inc.
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