Rising use of AI and machine learning in e-learning systems is driving the global academic e-learning market.
Covid-19 Impact & Market Status
In recent years, the e-learning sector has grown significantly. Furthermore, the COVID-19 pandemic caused a significant surge in the market in 2020. This might be attributed to the global adoption of several skill development efforts by governments and enterprises. Furthermore, in order to stay competitive, the majority of EdTech companies have moved their focus to digitalization in order to provide online services that assist employees and students in comparing their skill levels and selecting the best alternatives and offers for conducting assessments online.
Furthermore, the majority of students who stayed in hostels and other types of lodgings went home. As educational institutes embraced e-learning mediums to give education and training for persons during the COVID-19 mandated lockdowns, this encouraged the expansion of e-learning platforms during the era.
Service Segment Held The Largest Market Revenue
The global academic e-learning market is classified into content and service on the basis of type. Among these, the service segment gathered the highest market share. The key factors such as, e-popularly to global audiences, current technologies playing an essential role in providing full online learning experience is increasing the demand of academic e-learning service in the global academic e-learning market.
Investments In Online Certifications Segment Continue To Rally In 2022
The global academic e-learning market is classified into primary and secondary education, higher education, online certification and professional course, and test preparation on the basis of Course. Among these, the online certification segment accounted for the highest market share in global academic e-learning market.
APAC Saw Highest Mergers and Acquisition Activities
APAC held the largest market share in global academic e-learning market due to actors such as growing acceptance to e-learning, better fulfillment of the learning desires, e-learning becoming more suitable for autonomous students among others. Furthermore, prominent companies ensure data security by assuring rapid access and better reach, which drives the e-learning market's growth in this area.
The global academic e-learning market is witnessing tremendous growth owing to key forces such as increasing remote learning during the pandemic and desire for academic e-learning due affordability, convenience, and easy learning systems.
Owing to benefits such as, achievements in improving students’ academic performance, satisfaction, expert’s content, and good experience comparing face-to-face learning with online elements is resulting into remarkable progress in global academic e-learning market.
The factors such as learner’s satisfaction, academic achievement, students willingness to adapt to different online platforms, acceptance to online learning platforms, increasing student demand is driving the global academic e-learning market.
The global academic e-learning market is expected to grow to $840.11 billion by 2029, with a CAGR of 17.5% from 2022 to 2029. E-learning is a method of imparting knowledge to pupils using electronic media such as videos, audio, e-books, augmented reality/virtual reality, or any other electronic medium. Students gain from e-learning since it lowers the cost of education and allows them to pursue specialised courses. Furthermore, because it improves employee performance, e-learning has become a vital aspect of the majority of firms.
In an e-learning system, electronic devices and information and communication technology (ICT) are employed to provide information. Text, images, animation, video, and audio are delivered via the internet, intranet, satellite broadcast, interactive television, or CD-ROM. It saves time, allows for personalization, and expands your reach. It's also affordable, with applications in agriculture, healthcare, and education and training. In the corporate world, chat rooms, discussion forums, and blogs are commonly utilised to perform training programmes and collaborative activities such as project work and assignments.
However, problems such as the lack of face-to-face contacts in E-learning systems and the requirement for more self-motivation are limiting the growth of the global academic e-learning market.
Because AI and machine learning allow for personalised instruction based on each student's existing knowledge rather of a one-size-fits-all approach, they are becoming more popular in e-learning systems. Furthermore, by merging AI and machine learning, it can now quickly analyse vast amounts of data and find patterns and trends in order to continuously enhance and optimise learning experiences. It also makes the course building process considerably easier, quicker, and more flexible without sacrificing quality.
Automatic translation and localization, for example, have improved the speed and efficiency of the eLearning development process. Furthermore, multi-language content may now be created for global firms who are faced with the issue of providing usable material for many nations' branches, or for the increasingly prevalent circumstance of companies operating with remote staff that speaks different languages. Therefore, the market is likely to benefit from an increase in the number of such innovations. This is anticipated to be a growth opportunity to the global academic e-learning market.
Aptara Inc., Articulate Worldwide, LLC, CERTPOINT, Citrix Systems, Inc., D2L Corporation, Cisco Systems, Inc., Microsoft Corporation, Adobe, Oracle Corporation, and SAP SE are among the main competitors in the global academic e-learning market industry. The firms have implemented a variety of techniques to enhance market competitiveness and boost position in e-learning sector.
Latest Innovations in Global Academic E-learning Market: A Snapshot
- BYJU'S, a Bangalore-based educational technology and online tutoring firm, made its services available for free.
Academic E-learning Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 840.11 billion|
|Growth Rate||CAGR of 17.5 % during 2021-2028|
|Segment Covered||Type, Course, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Aptara Inc., Articulate Worldwide, LLC, CERTPOINT, Citrix Systems, Inc., D2L Corporation, Cisco Systems, Inc., Microsoft Corporation, Adobe, Oracle Corporation, and SAP SE|
Key Segments of the Global Academic E-learning Market
Type Overview, 2022-2029 (USD Billion)
Course Overview, 2022-2029 (USD Billion)
- Primary and Secondary Education
- Higher Education
- Online Certification
- Professional Course
- Test Preparation
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa