E-Learning Market to Garner $933.5 Billion by 2032
As per the report, the global e-learning market size is expected to generate a revenue of $840.11 billion by 2030. The market was valued at $197.00 billion in 2020 and is anticipated to grow at a CAGR of 17.5% during the 2021-2030 period.Increasing penetration of smartphones and cellular technology is anticipated to drive the growth of the global e-learning market. Also, a rising shift towards remote learning will help in augmenting the growth rate of the market. On the contrary, lack of interaction with teachers and fellow students might create hurdles in the growth of the market. Nonetheless, the cost-effectiveness of e-learning models is anticipated to create numerous investment opportunities in the market.
Challenges:
* Digital Divide: Limited access to devices and internet in underdeveloped regions.
* Engagement Issues: Sustaining learner engagement and completion rates can be challenging.
Opportunities:
* AI Integration: Personalized learning through AI offers significant growth potential.
* Mobile Learning: The rise of mobile device usage opens avenues for mobile-based e-learning solutions.
By provider, the content segment held the highest market share in 2020, with nearly three-fourths of the market. Growing digitization in public and private enterprises, along with rising adoption of online tutoring by several organizations will help in the growth of the segment. The service segment, however, is anticipated to have the highest CAGR of 17.5% in the analysis timeframe. Increasing shift of different countries from analog to digital information exchange will strengthen the segment’s position.
By deployment mode, the cloud segment accounted for the largest market share in 2020, with around three-fifths of the total market. The ability of cloud services to upload huge content in different formats including videos and texts will augment the growth of the segment. Also, the cloud segment is expected to have the fastest CAGR of 16.6% during the forecast period.
By region, the North America e-learning market gathered the highest revenue in 2020, with around two-fifths of the total market share, due to rising demand for distance learning. The Asia-Pacific market, on the other hand, is predicted to be the fastest growing with a CAGR of 17.4% during the 2021-2030 period. Development of web applications & cloud-based platforms is predicted to be the main factor driving the growth of the market in this region.
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