E-learning, characterized by the delivery of knowledge through electronic modes such as videos, audio, e-books, AR/VR, or other electronic methods, is expected to experience significant growth, driven by factors like the low cost of education and specialized course learning. The expanding telecom and broadband sector, contributing to increased accessibility to affordable internet connectivity plans, is a key enabler.
In 2021, the International Telecommunication Union (ITU) reported that nearly 4.9 billion individuals globally used the internet, compared to 4.1 billion in 2019, indicating a rising trend in internet usage. With a growing number of internet users, more individuals can access e-learning platforms for educational purposes. E-learning has become integral to many organizations, enhancing employee performance.
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The onset of the COVID-19 pandemic resulted in the closure of educational institutes, leading to a surge in e-learning platform adoption. Educational institutions turned to e-learning methods to continue providing education and training during lockdowns. Additionally, the use of Artificial Intelligence (AI) and machine learning in e-learning platforms has gained prominence, enabling customized content based on each student's knowledge and offering a personalized approach. AI and ML facilitate the quick analysis of vast amounts of data, identifying patterns and trends to continually optimize and enhance learning experiences. The pandemic positively impacted the e-learning industry's revenue, as companies implemented work-from-home practices, creating a demand for e-learning platforms for training and upskilling.
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Key Market Players:
- FUTURELEARN Limited
- Adobe
- Aptara Inc.
- Articulate Global, LLC
- Infor Equity Holdings LLC
- Cisco Systems, Inc.
- Citrix Systems, Inc.
- D2L Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
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North America is poised to lead the e-learning market during the forecast period, primarily due to heavy investments in Research and Development (R&D), technological expansions, and the presence of major industry players. UNESCO reports that global spending on R&D has reached almost USD 1.7 trillion, with 10 countries accounting for 80% of this spending. The Asia Pacific e-learning market is projected to achieve a CAGR of around 27% through 2028, driven by developments in the education system and government initiatives aimed at providing world-class education through digital infrastructure.
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