To 5% CAGR Gain, E-Learning Market to cross US$200bn by 2024

E-Learning Market in virtual classrooms segment is expected to grow rapidly, owing to growing need of instructors and learners to interact in different geographical locations in real time. Virtual classrooms connect dispersed learners by connecting classrooms, thus achieving economies of scale in training. Large multi-national organizations are increasingly implementing virtual classrooms to improve efficiency of operations in learning & development. The ability of these tools to drive efficiencies in business is expected to propel the industry growth.

E-Learning Market is estimated to surpass USD 200 billion by 2024. E-learning services and products have expanded significantly in the recent years. Users are getting increasingly benefitted by the engaging, animated, and interactive tools that provide improved effectiveness and ease of access. With growing use of mobile devices, the users are increasingly getting attracted to these solution, thus aiding the e-learning market growth over the forecast timespan.

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Rapid digitization and advancements in technology infrastructure is encouraging the companies to implement corporate e-learning techniques in their organizations. Proliferation of these techniques through smartphones & tablets and adoption of BYOD concept is expected to propel corporate e-learning market growth.

However, lack of peer to peer interaction is expected to be one of the major challenges to the industry. These courses cannot provide group breakout sessions or other types of group work with peers or instructors. Students perceive this as restriction in gaining insights from the professors, thus hindering the e-learning market growth.

The India e-learning market is currently in its infancy stage and is expected to grow at rapid pace. Increasing government initiatives such as Digital India is expected to bode well for the industry. With increasing robustness of digital infrastructure and changing face of education in the country, the industry will play a vital role in satisfying the education and skill-based needs of the country.

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Brazil e-learning market is expected to gain significant momentum, owing to increasing demand for online English courses in the country. The local population needs to expand their English knowledge to secure a job, as English is perceived as a vital element in securing a job in the country. Studying the language through online courses for several students is of interest owing to the growing need to save money & time and to study at a suitable time, which is making these courses in Brazil an attractive option. The overall demand for English language tutoring is expected to increase the number of people seeking professional & online help and, in turn, fuel the regional demand over the forecast timespan.

Some of the key participants in the e-learning market include Desire2Learn, Cornerstone, Intuition Publishing, Meridian Knowledge Solutions, Skillsoft, SAP SE, and Saba Software. The industry is characterized by presence of large number of regional players.

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