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DUBLIN, July 15, 2022 /PRNewswire/ — The “E-Learning Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
E-learning is a method of teaching students using electronic media such as videos, audio, e-books, etc. e-learning refers to training, teaching, and testing services conducted or shared through the internet. Comprehensive training requirements for students and professionals , fueled by trends such as globalization, talent migration, and consistent advancements in corporate skills and individual talent grooming, have expanded the scope of e-learning.
Key Highlights
- North America’s e-learning market revenue crossed USD 94 billion in 2021. Similarly, APAC leading in the second position, generated a revenue of more than USD 69.47 billion in 2021. The lowest revenue was produced by the Middle East and Africa
- However, the highest growth is expected from the majorly populated APAC region. It is expected to showcase a growth rate of about 17.70% during the forecasted period. The high growth rate can be attributed to many middle-income groups in developing countries like Indiaa preferred market for vendors.
- The Middle East also proves to be a significant market as the middle east countries usually have gender disparities, thus creating scope for e-learning platforms in the region, especially for women as they typically show a keen interest in developments and upgrades.
- An increase in internet and smartphone penetration is the fundamental driver of e-learning market growth. This has revolutionized content delivery mode and evolved the method by continuously improving bandwidths and reducing data prices.
The following factors will drive the global e-learning market growth during the forecast period:
- Demand for Internet-Enabled Services
- Growing Need for Strong Workforce Skills
- Digital Transformation in Learning & Training
- Continuous Investment in Digital Learning
- Introduction of 5G Technology
- Enhancement In Connectivity Infrastructure and Smartphone Penetration
Impact of COVID-19
The education of over 1.2 billion children worldwide got adversely affected by the pandemic, and hence there was a sudden shift in the way education was delivered after that.
Even before COVID-19, education technology was seeing rapid expansion and adoption, with worldwide edtech investments crossing USD 18 billion in 2019 and the online education market crossing over USD 350 billion by 2025. After witnessing the abrupt shift from the classroom in many parts of the world, there are high chances of online learning popularity to continue post-pandemic. Such a shift is expected to affect the global education industry.
Opportunities & Challenge Analysis
Increasing Use of VR & AR Applications
Over the past few years, virtual reality (VR) and augmented reality (AR) have substantially improved toward becoming popular consumer technologies. A decrease in cost is one of the most important factors concerning the adoption of VR and AR for education. Technology will become more accessible for consumers and businesses as the cost of software and hardware decreases. Developers are leveraging existing technologies such as smartphones to provide widespread and more affordable options for using VR and AR.
VR and AR are increasingly being adopted to deliver training. Virtual reality technology enables deep understanding by reducing risk and immerses learners in a new environment. Augmented reality provides just-in-time education by offering training to learners at their fingertips. AR and VR applications are increasingly being adopted in the remote learning space as they provide solutions to practical needs. Virtual reality is being used for performing intricate procedures and handling high-risk tasks. VR and AR solutions enable learners to connect with the content. They address …
Full story available on Benzinga.com
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