The E-Learning industry is growing by leaps and bounds and expects to observe a CAGR of 20 percent from 2022 to 2028, surpassing $315 billion in 2021. The increasing internet penetration worldwide has laid the launching ground to drive industry growth. The burgeoning telecom & broadband industry has boosted the availability of low-cost internet connectivity services. The International Telecommunication Union (ITU) 2021 estimated that approximately 4.9 billion people had access to the internet globally, up from 4.1 billion in 2019. More people will be able to access E-Learning platforms to learn courses or complete degrees as the number of internet users rises.
The Covid-19 epidemic boosted the revenue of the E-Learning industry. Corporates have been encouraged to embrace work-from-home policies to continue everyday operational tasks as employee safety concerns have grown. This has posed hurdles for companies regarding communication, training, upskilling, monitoring progress, and fueling demand for E-Learning platforms among big enterprises and SMEs. Several organizations are focusing on building personalized learning solutions to meet the rising demand. In April 2021, for example, LinkedIn Corporation announced plans for an online site for businesses to educate their employees with training videos and resources on topics like ML and management strategy.
The Rising Indian E-Learning Industry
The E-Learning industry in India forecasts to rise at a rapid pace from 2021 to 2026. E-Learning is a modern education solution that uses digital technology and devices to gain knowledge. It aids in delivering various programs, courses, and degrees via the internet. The E-Learning system encourages the participants with a healthy exchange of knowledge in an interactive atmosphere. It also delivers education regardless of the time and place. E-Learning is a more cost-effective option than traditional classrooms and keeps up with the ever-changing requirements for quality education. As a result, it has a wide range of applications in industries, including education, healthcare, agriculture, and training.
The Government of India undertakes favourable initiatives to launch remote education programs to provide easy access to education, driving the Indian E-Learning industry. It has developed internet infrastructure and implemented integrated E-Learning solutions in the educational system. Several E-Learning schemes are implemented to balance the education sector due to the continued spread of Covid-19. For example, the government has introduced programs for undergraduate and postgraduate students called DIKSHA and SHAGUN, which are getting a lot of traction countrywide. In addition, some Indian universities collaborate with foreign universities to conduct online courses, and international companies are teaming with local players to localize their products, all of which are helping the market flourish.
Key Market Segmentation:
According to a report, the market has been categorized based on technology, provider, and application. Breakup by technology consists of Online E-Learning, Mobile E-Learning, Rapid E-Learning, Virtual Classrooms, Learning Management Systems, and Others. Breakup by the provider includes Services and Content. Breakup by application covers Academic (Vocational Training, Higher Education, K-12), Corporate (Large Enterprises and SMEs), and Government.