E-Learning Market Detailed Analysis of Current Industry Figures with Forecasts Growth

E-Learning Market Detailed Analysis of Current Industry Figures with Forecasts Growth

The e-learning market is expected to observe substantial growth by 2027, expanding at a sizable CAGR through the forecast period due to COVID-19. The pandemic has brought forth a rising dependence on virtual learning as the world adjusts to a new-normal, wherein COVID-induced lockdowns and social restrictions change the way most things are done across the world.

The advent of advanced technologies has increased the usage of digital devices that are easy-to-use for students at all levels, which is also likely to contribute to industry growth over the assessment timeframe.

In order to make learning more accessible in home settings during the ongoing pandemic, educational institutions have been organizing virtual classes and launching e-learning courses. This is likely to foster market outlook in the coming years, thereby propelling business expansion between 2021 and 2027.

Several educational institutions and companies have witnessed extensive e-learning adoption for various applications.

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For instance, Singapore-based ProSpark recently rolled out a new solution, its B2B learning management system, to help upskill employees in enterprises. The edutech firm recently closed its seed investment round headed by AC Ventures.

As a result, increasing market penetration for different industry players is emerging to be a strong boost facilitator for the industry through the forecast timeframe.

The e-learning market has been segmented based on technology, provider, application, and region. In the technological landscape, the market has been divided into online e-learning, mobile e-learning, LMS, rapid e-learning, and virtual classroom.

The virtual classroom sub-segment is expected to witness robust growth through the analysis period. Recent shift from traditional learning to virtual classrooms in the academic sector is projected to drive segmental market growth by 2027.

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Based on provider, the service sub-segment is estimated to experience sizable expansion over the forecast timeframe.

Higher integration of AR/VR in e-learning solutions is anticipated to boost revenue for service providers in the e-learning market in the future. Subsequently, increasing technological adoption across the sector is set to be favorable for segmental growth.

In terms of application, the higher education academic sub-segment is estimated to grow at a notable CAGR through the forecast period. Increasing government initiatives to promote higher education for all students are speculated to boost segmental growth in the coming years.

From the regional perspective, the Latin America market is estimated to witness significant growth at a steady CAGR through the forecast period.

The impact of the COVID-19 outbreak has encouraged several schools and universities in Latin America to adopt e-learning solutions for continuing education of students, which is projected to foster regional industry expansion in the following years.

Moreover, the Middle East & Africa e-learning market is also estimated to see stable growth through the analysis period fueled by higher e-learning adoption across leading countries in the region.

Recently, Saudi Arabia's pioneering distance education and e-learning initiatives during the COVID-19 pandemic have been lauded by international education experts. Experts have praised the Ministry of Education's virtual learning portal Madrasati to promote online education in the country.

Fengchun Miao, Chief of Technology and AI in Education Unit, UNESCO, has been reported saying that Saudi Arabia is one of the few nations that have developed and executed quality standards to facilitate effective and quality e-learning.