Global E-Learning Market to Reach $457.8 Billion by 2026

E-Learning may be defined as the delivery of instructional content through the use of electronic technology, which may include compact disks (CDs), computer-based training (CBT), or Web-based applications. Over the years, e-Learning has become an important part of the modern education system. Since its introduction, e-Learning has found widespread applications in various sectors including IT, marine, retail, healthcare, telecommunications, and financial services. These sectors are utilizing E-Learning programs for training employees as well as for disseminating information. Few of the factors responsible for shaping growth of e-Learning in the academic and corporate environment include fast-paced advancements in Internet technology including high-speed internet access, bandwidth expansion, and launch of 5G networks; e-Learning service innovations; development new and potent e-Learning technologies; rapid penetration of smartphones and tablets and increase use of the same for education supported by digitalizing lifestyles of consumers; falling mobile data and fixed line internet tariffs and the ensuing robust rise in Internet users; growing wave of BYOD in enterprises and the resulting popularity of implementing corporate e-Learning and training via tablets and smartphones; and favorable government initiatives that support the use of technology in education.

Amid the COVID-19 crisis, the global market for E-Learning estimated at US$250.8 Billion in the year 2020, is projected to reach a revised size of US$457.8 Billion by 2026, growing at a CAGR of 10.3% over the analysis period. Academic, one of the segments analyzed in the report, is projected to record 10.2% CAGR and reach US$314 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Corporate segment is readjusted to a revised 10.6% CAGR for the next 7-year period. Ongoing content digitization efforts in academic sector, and rise in student enrollments for online courses on a part-time and full-time basis are helping support growth in the academic segment. Demand in the corporate segment is being driven by factors such as rise in demand for social learning tools such as Twitter, Facebook, and YouTube and developments in Web 2.0 technologies; increased adoption of integrated talent management solutions such as recruiting, performance and succession management, learning management and compensation management; declining costs of communication and technology; geographic dispersion of employees; and need to continuously develop technical skills and abilities and the need to train large number of employees to ensure greater economies of scale.

The U.S. Market is Estimated at $90 Billion in 2021, While China is Forecast to Reach $105.7 Billion by 2026

The E-Learning market in the U.S. is estimated at US$90 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$105.7 Billion by the year 2026 trailing a CAGR of 12.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.7% CAGR. The e-Learning market in developing regions is evolving into a dynamic growth sector as public universities, governments and local providers push into the market. There are several factors driving e-Learning market in developing countries, for instance e-Learning helps to decrease infrastructure costs and reduce expenditures e.g., cost on classroom space along with textbook purchase or rental leading to lesser education costs for people in developing nations. In addition, online learning eradicates logistics problems on account of weak public transport and poor road infrastructure in developing nations.