By: Neelarya
No such industry has been left untouched by the influence of Covid-19 yet.With the deadly hit of the pandemic, the world has shifted to being remote.
Be it a work from home mode or attending online classes. During this past 10 to 11 months e-learning market has seen significant growth with the emergence of Covid. The market has been encouraged by several factors including the current crisis, affordability, accessibility of the internet connections, and various other range of specifications.
Previously the global e-learning market was projected to grow and reach the valuation of $499.1 billion by the end of the year 2020. However, in the post Covid period, the market is growing at a CAGR of 10.3% in the analysis period of 2020 to 2027.
Factors influencing the growth of the e-learning market during the pandemic period
Millions of students who are currently unable to visit schools, colleges, and universities are now attending online classes by maintaining the restriction of physical and social distancing. Although some of the countries like China, the US, and Australia have opened their school, the spread of infection has forced them to think of re-closer.
This is where the education industry has come up with a permanent solution of e-Learning, for the students and the educational institutions who had been struggling with the crisis of teaching and learning.
These are some of the crucial factors that have led to the growth and demand for the e-learning market.
The global e-learning market: segmentation and other facts
The Global e-learning market is segmented on the basis of technology, provider, application, and geographical demand. Based on its technological mode, the e-Learning market is bifurcated into online e-learning, mobile e-learning, Learning Management System or LMS, rapid e-learning, virtual classrooms, and others.
Based on the provider section, the market is divided into content and services. On the basis of its application, the market is subdivided into academic, corporate, and government. And lastly based on geographical demand, the market is bifurcated into geographical regions like North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Role of the e-learning industry in 2021 and beyond
The e-learning platforms have provided higher flexibility and have been easily adopted by both students and educational institutions. With the help of mobile devices and desktops and with a stable internet connection, teachers and students can now connect resourcefully into a virtual classroom. The current internet prices and facilitation of easier set up have simplified the e-Learning on the education process.
Also, it was causing a lot of hindrance in the proper education and training of the students that have made various educational institutions shift to the e-Learning mode.
It can be thus assumed that the e-learning market will continue making revenue as the future sees a complete adoption of virtual classrooms rather than physical classrooms.