LONDON--(BUSINESS WIRE)--The self-paced e-learning market is set to grow by USD 6.71 billion accelerating at a CAGR of almost 3%, during the period spanning over 2020-2024. One of the key factors driving growth is the availability of subject proficiency assessments and certifications, which aid in building the learners’ awareness about their progress in learning a subject or concept. Increasing demand for distance learning is a significant trend that will further stimulate market growth. The rapid adoption of online learning has increased the number of educational institutions offering online distance learning courses.
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Parent Market Analysis
Technavio categorizes the global self-paced e-learning market as a part of the global education services market. The parent, global education services market covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. Technavio calculates the global education services market size based on the combined revenues generated by manufacturers/providers of equipment, software, teaching materials, solutions, and services. Growth of the global education services market will be driven by the increasing importance of science, technology, engineering, and mathematics (STEM) education.
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Self-Paced E-Learning Market: Geographic segmentation
The report segments the market by geography: North America, APAC, Europe, South America, and MEA. About 38% of the market’s growth will originate from North America during the forecast period. This is due to the rising number of enrollments for both online and self-paced distance e-learning courses in the region. The US and Canada are the key markets for self-paced e-learning solutions in North America.
Self-Paced E-Learning Market: Segmentation by Product
The packaged content segment was leading the market in 2019. The rising demand for effective, contextualized, and precise content from both students and employees has increased the demand for packaged content. In addition, the increasing demand for personalized content and off-the-shelf courses from the post-secondary education segment and the corporate sector is fueling the growth of the segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the self-paced e-learning market size.
Self-Paced E-Learning Market: Growth Drivers
The market is driven by the availability of subject proficiency assessments and certifications. Vendors in the global self-paced e-learning market are offering a wide range of subject courses to users at different levels, ranging from basic levels to high proficiency levels. The learning programs also award subject knowledge proficiency certificates after the completion of the subscription course. For instance, NIIT Ltd. offers subject courses where learners are assessed on different levels and certified after the completion of the course. The availability of such self-paced e-learning programs is fueling market growth.
Self-Paced E-Learning Market: Challenges to overcome
The growing adoption of MOOCs is increasing the availability of free online courses and free online content over the internet. Also, the emergence of various learning platforms such as Moodle, Docebo, and Sakai, which offer content authoring capabilities is posing a threat to the growth of market vendors.
Self-Paced E-Learning Market: Vendor landscape
This report provides information on revenue, organizational developments, and key go-to-market strategies of several leading self-paced e-learning companies, including:
- 2U Inc.
- City & Guilds Group
- D2L Corp.
- Houghton Mifflin Harcourt Co.
- Instructure Inc.
- John Wiley & Sons Inc.
- NIIT Ltd.
- Pearson Plc
- Providence Equity Partners LLC
- Think & Learn Pvt. Ltd.
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Technavio reports cover the following key research areas:
- Detailed Analysis of Market Eco System
- Market favorability index
- Market opportunity by segments
- Analysis of drivers of price sensitivity
- Key purchase criteria
- Customer purchase basket
- Impact of drivers and Challenges
- Factors of differentiation
- Landscape disruption
- Key industry risks
- Market position of vendors
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