LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the market size of the global corporate E-learning market is predicted to reach close to USD 31 billion in revenue by the end of 2020.
This research report titled ‘Global Corporate E-learning Market 2016-2020’ provides an in-depth analysis of the market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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“The corporate e-learning market is mainly driven by the rise in digitization and the adoption of advanced technologies in the corporate sector. Incorporation of new technologies help improve teaching and learning methods, while enhancing the quality of training and employee productivity,” said Technavio lead education technology research analyst Jhansi Mary J. “This trend is exerting constant pressure on corporations to update their training programs and processes through the adoption of e-learning solutions. Its growing prevalence encourages maximum participation of employees through digital learning materials, including video-based training and presentations,” Jhansi added.
Technavio segments the corporate e-learning market by type of components:
Largest contributor: the content segment of the global corporate e-learning market
The content segment of the global corporate e-learning market was valued at over USD 12 billion in 2015. The growth of this segment can be attributed to organizations promoting self-paced learning among employees. Under this system, companies build a central library of various courses, which can be easily accessed by devices such as mobile phones and tablets. Employees are allowed to choose professional courses that can enhance their skill sets. Typically, an in-house team is charged with this task, or the activity is outsourced to third-party vendors in the content delivery space. Companies also utilize online courses as a way of acquainting employees with the company culture and policies.
Vendors in this segment provide training and e-learning materials to multiple industries, including manufacturing, healthcare, automotive, chemicals, banking, financial services, and insurance (BFSI). Vendors like Skillsoft provide various online courses on multiple disciplines for their end-users. The highest demand has been observed for technical courses.
Global corporate e-learning market by technology
The extensive use of mobile technologies to create and deliver training materials and sessions has prompted companies to create and use various mobile-based applications and websites. Due to these factors, the technology segment is expected to be the fastest growing segment in this market.
Technologies used in the corporate sector are rapidly changing. Thanks to these changes, companies are showing a growing preference to train their employees in a virtual environment. The corporate e-learning market is thus witnessing the introduction of innovative cloud-based LMS (learning management systems) for catering to these demands. Implementing LMS tools have significantly reduced operational costs, with the leading vendors providing easy software upgrades and maintenance for corporate customers.
Global corporate e-learning market by services
Companies are likely to adopt customized e-learning solutions that suit their requirements. This trend presents an attractive business opportunity for vendors in the market. As a result, vendors are engaging with companies to better understand their needs and customize their service offering.
Support services include the scope to train administrative staff to install and use software like LMS. Besides obtaining course material from third party providers, companies also rely on third-party trainers to organize blended training sessions for these purposes. These trainers help in integrating hardware and multiple devices with e-learning software to create virtual or blended learning environments.
Browse related reports:
- Global E-Learning Market 2015-2019
- Global Synchronous E-Learning Market 2015-2019
- E-Learning Packaged Content Market in the US 2015-2019
- Corporate Training Market in the US 2015-2019
- Global Self-Paced E-Learning Market 2015-2019
- Generic E-Learning Courses Market in the US 2015-2019
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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