E-Learning Market Report

Global E-Learning Market:

The global e-learning market size reached US$ 316.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 661.6 Billion by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032. The market is experiencing steady growth driven by the escalating demand for remote learning solutions due to various benefits, such as accessibility, flexibility, and cost-effectiveness, rising need for scalable and accessible training and education solutions, and skill shortages and workforce development.

E-learning Market Analysis:

• Major Market Drivers: The market is witnessing strong growth, which can be attributed to the increasing demand for remote learning solutions. In addition to this, the growing adoption of e-learning solutions by educational institutions and corporations is seeking cost-effective training methods that are offering lucrative growth opportunities to the overall market.
• Key Market Trends: The increasing interest among working individuals to complete higher education along with their jobs is one of the primary key trends bolstering the growth of the global e-learning market. Moreover, the increasing internet penetration is also propelling the e-learning market growth.
• Competitive Landscape: Some of the key e-learning market companies operating in the global market include Adobe Inc., Aptara Inc. (iEnergizer), Blackboard Inc., Cisco Systems Inc., GP Strategies Corporation, Instructure Inc. (Thoma Bravo), Oracle Corporation, Pearson Plc, SAP SE, Skillsoft Corporation, and Thomson Reuters Corporation (The Woodbridge Company), among many others. 
• Geographical Landscape: According to the e-learning market report by IMARC, North America accounted for the largest market share due to its early adoption of technology, well-established educational institutions, and strong corporate focus on training and development. In addition to this, the region encompasses the United States and Canada, where e-learning is widely integrated into academic institutions, corporations, and government agencies.
• Challenges and Opportunities: Technological challenges, such as unavailability of the right devices, equipment failure, inadequate internet access, and slow loading times on online courses, are some of the prominent challenges of the e-learning market. However, the e-learning market statistics indicate that the ongoing efforts to integrate robust 5G networks across the globe are anticipated to further propel the e-learning market demand in the coming years. 
   

 E-learning Market Trends:

Increasing Demand for Remote Learning

The rising demand for remote learning solutions is primarily propelling the growth of the market. Moreover, the inflating need for continuity in education and professional development is augmenting the importance of e-learning, which is creating a positive outlook for the overall market. Additionally, various key market players are extensively investing to expand their operations and offer innovative learning solutions to customers. For instance, in September 2023, Amsterdam-based largest corporate edtech provider in EMEA, Lepaya, raised €36 million, one of the biggest rounds raised in this space in all of 2023. With the newly acquired capital, Lepaya will double down on the development and revolution of AI-based corporate learning in various global organizations, including ING, Dell, Maersk, and KPMG Freudenberg. Furthermore, organizations are increasingly recognizing the benefits of e-learning for employee training and development, as it enables them to deliver consistent training materials to a geographically dispersed workforce efficiently. The increasing need for remote learning is anticipated to contribute to the growth of the market in the coming years.

Globalization and Cross-Border Education

Educational institutions and universities are expanding their reach beyond national borders, which in turn is bolstering the need for scalable and accessible training and education solutions. Moreover, e-learning platforms are offering standardized training and educational content to a global audience, which is further creating a positive outlook for the market. In this response, various companies are launching new and innovative platforms of learning that can be accessed from any part of the world. For instance, Spotify, a music streaming and podcasting company, is now venturing into the world of e-learning, offering a new line of content aimed at educating its vast user base. The move comes as Spotify aims to increase user engagement and drive revenue growth, tapping into the burgeoning online education market. Moreover, various market players are raising funding to expand their operations beyond their home countries and increase their customer base. For instance, in an attempt to expand access to an affordable college education for Arabic-speaking students, the University of the People (UoPeople), an American-accredited university, launched an online MBA degree taught in Arabic in February 2024.

Integration of Next-Gen Technologies

The increasing integration of next-generation technologies, such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR), to enhance the learning experience is also propelling the growth of the global e-learning market. Various companies are significantly investing in the development of interactive learning platforms to enhance user engagement and provide them with an immersive experience. For instance, in January 2024, Coursera launched a new AI feature to support the needs of Indian learners. This new initiative includes a large catalog of learning content in Hindi and AI-powered features. Similarly, the Government of India has launched DIKSHA (Digital Infrastructure for Knowledge Sharing) to provide quality e-content for school education and enhance learning outcomes across the country. It offers QR-coded Energized Textbooks for all grades on a single digital platform. Integration of such technologies is projected to propel the e-learning market revenue in the coming years.

Cost-Effectiveness and Scalability

Traditional methods of education and training generally involve a substantial cost related to things, including physical infrastructure, printed materials, travel, and instructor fees. On the other hand, e-learning can significantly reduce these expenses by eliminating the need for physical classrooms or training locations. This saves money on rent, utilities, and maintenance. In addition to this, the digital content can be updated easily, which eventually decreases the printing and distribution expenses. This cost-efficient approach makes online learning an attractive option for both educational institutions and businesses. Besides this, e-learning platforms offer high scalability, as they are capable of accommodating a few learners or expanding up to thousands or even millions of users simultaneously. As a result, various companies are investing in expanding their operations and increasing the student base without opening a physical entity. For instance, in August 2023, an Irish edtech company, Zick Learn, secured €500k in funding to increase its headcount and accelerate growth throughout Ireland, the UK, and across Europe. 

E-Learning Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on technology, provider, and application.

Breakup by Technology:

• Online E-Learning
• Learning Management System
• Mobile E-Learning
• Rapid E-Learning
• Virtual Classroom
• Others
   

Online e-learning accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the technology. This includes online e-learning, learning management system, mobile e-learning, rapid e-learning, virtual classroom, and others. According to the report, online e-learning represented the largest segment.

The online e-learning segment includes a wide range of educational and training materials delivered over the internet, accessible through web browsers and apps. It is favored for its accessibility and convenience, allowing learners to access content from anywhere with an internet connection. Various public and private universities are launching online e-learning programs to assist students in higher education, while they work on their full-time jobs. For instance, The University Grants Commission (UGC) chairman Mamidala Jagadesh Kumar launched the four-year undergraduate program of the Indira Gandhi National University (IGNOU). UGC Chairperson emphasized on the program’s significance at the launch event and regarded it as an important reform in the landscape of Indian higher education. 

Breakup by Provider:

• Services
• Content
   

Content holds the largest share in the industry

A detailed breakup and analysis of the market based on the provider have also been provided in the report. This includes services and content. According to the report, content accounted for the largest market share.

This can be attributed to the rising demand for high-quality educational materials. Content providers focus on creating and curating educational content, which includes video lectures, written materials, interactive exercises, and multimedia resources. They often offer libraries of courses covering a wide range of subjects and industries. They collaborate with educational institutions and corporations to deliver comprehensive e-learning solutions, allowing learners to access well-structured and engaging materials.

Breakup by Application:

• Academic 
  • K-12
  • Higher Education
  • Vocational Training
• Corporate 
  • Small and Medium Enterprises
  • Large Enterprises
• Government
   

Academic represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes academic (K-12, higher education, and vocational training), corporate (small and medium enterprises and large enterprises), and government. According to the report, academic represented the largest segment.

The academic segment includes educational institutions at all levels, ranging from K-12 to higher education. E-learning is becoming an integral part of modern education, offering flexibility in curriculum delivery and accessibility to a wide range of subjects. Academic institutions use online learning for remote learning, supplemental materials, flipped classrooms, and fully online degree programs. Various universities and schools are offering online learning courses and degrees for working professionals to facilitate easy higher education learning programs. For instance, in February 2024, Jawaharlal Nehru University launched various short-term online learning programs to enhance e-learning infrastructure.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest e-learning market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The growth of the e-learning market in North America can be attributed to the early adoption of technology, well-established educational institutions, and a strong corporate focus on training and development. Countries, including the United States and Canada, have widely integrated e-learning into academic institutions, corporations, and government agencies. For instance, in 2017, about 77% of U.S. corporations said that they used online learning. Meanwhile, almost all of the companies (98%) planned on implementing eLearning methods by 2020. The same study also showed that 98% of corporations said they would implement video as part of their digital learning strategy. Moreover, the wide presence of major companies, a tech-savvy population, and high-speed internet infrastructure are contributing to the e-learning market share.

Leading Key Players in the E-Learning Industry:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Adobe Inc.
• Aptara Inc. (iEnergizer)
• Blackboard Inc.
• Cisco Systems Inc.
• GP Strategies Corporation
• Instructure Inc. (Thoma Bravo)
• Oracle Corporation
• Pearson Plc
• SAP SE
• Skillsoft Corporation
• Thomson Reuters Corporation (The Woodbridge Company)
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

 E-learning Market Recent Developments:

• April 2024: The Government of Andhra Pradesh, India signed MoU with the e-learning platform, edX, to offer higher education courses to youth. The agreement paves the way for more than 12 lakh students to pursue 2,000-plus edX courses offered by world's top-notch universities and other educational institutions, free of cost along with their regular courses.
• November 2023: Asia Society Texas (AST) announced the launch of “Asia in the Classroom”, an innovative online learning platform for K-12 students that will exponentially advance essential tools needed by students and educators to learn the untold narratives of Asia and Asian Americans. 
• September 2023: Amsterdam-based edtech Lepaya secured €36 million to AI-revolutionize the corporate learning market. With the newly acquired capital, Lepaya will double down on the development and expansion.

E-Learning Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the e-learning market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global e-learning market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the e-learning industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.