E-learning current market value of one hundred-ninety billion dollars ($190B) is expected to continue its upward growth in the next five years to a market value of around three hundred billion dollars ($300B) in the year 2024.
The report from the Global Market Insights is attributing this growth to the growth in technology and the public awareness of the availability of such information. Technologies such as cloud-based computing have driven up the e-learning market growth according to the report.
Economic growth has been in decline this year as a result of reduced trades and unpredictable economic policies being implemented. World Bank actually revised its economic outlook data as a result of what it terms as the tumbling of global trade which is at a decade low.
Major industries have experienced this slow down in the economy but for e-Learning, there has been a silver lining. The industry has shown resilience to market forces and is projected to have significant growth this year.
E-learning service is hardware intensive
Technologies such as cloud-based computing have also driven up e-learning market growth according to the report. This is because the e-learning service is hardware intensive and these technologies are able to provide a faster way through which the users of the system of these e-learning platforms can be able to access their materials with ease.
A report named “Global E-Learning Services Market Report 2019”, takes a deeper look into regional growth in places such as Europe, Asia, and the United State and how this has contributed to the overall growth of the industry.
It has offered insight into how one can optimize the e-learning platforms, opportunities that are available and the market forces that may influence success in this industry.
The potential presented in these two reports paints a future that is more reliant on technology. Increased mobile technology adoption in almost all countries, easy access to the internet by young demographics, virtual classrooms popularity and virtual reality learning means only one thing, Exponential growth for the industry.
