According to a new market report published by Stratistics “Global E-Learning Market Outlook(2015-2022)”, The Global E-Learning market is estimated to be $ 165.36 billion in 2014 and is poised to grow at a CAGR of 5.08% to reach $243.8 billion by 2022. The key factors that are favoring the market growth are flexibility in learning, low cost, easy accessibility, increased effectiveness by animated learning, escalation in number of internet users and growing access of broadband pooled with mobile phones with online capabilities. Unlike classroom training, e-learning content can be accessed by multiple users, in multiple locations at any point in time. E-learning can be more cost effective to deliver than classroom based training, especially for larger organizations.
On the basis of Product, the market is segregated into Academic e-Learning and Corporate e-Learning. Academic e-learning commanded the largest market revenue of more than $100 billion in 2014. E-learning has become an increasingly popular learning approach in higher educational institutions due to the rapid growth of internet technologies. E-learning has significant effect on students’ academic performance. The corporate e-learning product segment is poised to grow at the highest CAGR during the forecast period from 2015 to 2022. The highest CAGR of Corporate e-Learning is attributed to increasing adoption of web-based learning on a broad scale driven by the implementation in financials, regulatory, bureaucratic, and technical aspects.
On the basis of Vendor, the market is categorized into Content Providers and Service Providers. The service providers segment commanded the largest market of more than 70% in 2014. The largest share of service providers is attributed to the increased demand for training services, such as systems integration, needs assessment, hosting, maintenance, and online mentoring across the world. However, Content Providers segment is expected to grow at the highest CAGR of more than 5% during the forecast period.
On the basis of technology market is segmented into Learning Management system (LMS), Rapid e-learning, Mobile e-learning, Virtual classroom, Podcasts, Application simulation tool, Learning Content Management System, Knowledge management system and other technologies. Learning Management Systems (LMS) commanded the largest market revenue in 2014. By further inverting the traditional forms of interaction between instructors and pupils, and enabling a great amount of content to be created and managed more easily, the future of LMS appears to be a dynamic one. However, the growth potential is very much wider in Mobile e-learning segment growing at a CAGR of more than 8%. The highest growth is attributed to increased usage of smart phones.
Browse the full market research report at "Global E-Learning Market Outlook(2015-2022)"
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This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America commanded the largest market revenue followed by the Europe. The major factors driving the sales of e-learning products in North America are the reduction of training and education budgets in the organizational buying segments, the steady increase of online enrollment, and the adoption of digital products in the commercial training and education industry. However RoW is expected to grow at the highest CAGR of more than 5% during the forecast period 2015 to 2022.
The key players in the Global E-Learning Market are Adobe systems Inc., Apollo Education Group Inc., Cisco Systems, Citrix, HealthStream Inc., McGrawHill, Microsoft, Saba, Skill Soft and Blackboard Inc.
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