The research study covers the present scenario and growth prospects of the global generic e-learning courses market for 2016-2020. The report also segments the market into two components which are courses and content. In 2015, the courses segment of the global generic e-learning courses market recorded a larger share of the revenue, representing approximately 60% of the market whereas the content segment accounted for approximately 40% of the market share. With end-users increasingly interested in purchasing online education course materials, this market is flourishing.
Technavio education research analysts highlight the following three factors that are contributing to the growth of the global generic e-learning courses market:
- Rise in IT funding in education sector
- Globalization of workforce
- Increased demand for distance learning
Rise in IT funding in education sector
“The education sector worldwide is set to observe dynamic changes in the way information and knowledge is shared, with the growing phenomenon of digitization. Governments worldwide are focusing on this new aspect of education and are making efforts in implementing changes in their education system,” says Jhansi Mary, a lead analyst at Technavio for education technology.
For instance, in 2015, the K-12 education segment had spent USD 4.5 billion on IT while the higher education segment spent USD 6.4 billion. Further, the Federal Communications Commission (FCC) in collaboration with the US Department of Education developed a digital textbook playbook, which was launched in 2013. It assists K-12 educators and administrators in getting acquainted with digital learning content and tools. It entails planning for Internet connectivity at schools, determining the IT infrastructure needed, and supporting devices required such as laptops.
In emerging nations such as Africa, Asia, and the Middle East, governments are increasingly spending on improving online learning in schools and colleges. For example, in Ghana, laptops were distributed to primary schools to attain digitization of academic learning.
Globalization of workforce
Globalization has led to the emergence of multinational organizations and this factor has had an impact on business operations, trade, and services of the organizations. In order to meet company objectives, it is essential that training of equal standards is delivered effectively to the entire workforce. Rampant economic activity is observed across the globe. As a result, corporates are increasing their training expenditures and switching from traditional face-to-face training sessions and seminars to innovative methods of assessing the learning and development needs of their companies.
A major reason for such investments is the skill gap noted in employees. For instance, in the US, while there is a demand of approximately 60,000 petro chemical engineers, only 1,280 petro chemical students graduate every year. Such workforce and talent issues persist in most industries across geographies. “Thus, corporates are investing in training and purchasing generic e-learning courses to educate their employees and make them job-ready. The training provides inputs about industry scenarios and organizational practices, which differentiate them from competitors,” says Jhansi.
Increased demand for distance learning
Distance learning offers opportunities to people worldwide, especially those who face financial, time, or geographical constraints. This type of education is widely adopted in the higher education sector. Most distance education content is delivered online or in the packaged form of books and CDs.
In addition, there has been an increase in the number of universities in the US providing online courses. A large variety of courses are frequently added to the existing courses. One of the main reasons for this is the easy availability of low-cost software platforms that allow universities to create, deliver, and manage courses online. Hence, there is an increase in demand for online courses and advances in technology. This will positively impact the revenue of the global generic e-learning courses market.
Browse Related Reports:
- Global E-learning Market 2016-2020
- E-learning Market in Europe 2016-2020
- Global Corporate E-learning Market 2016-2020
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