The global E-Learning service market is poised to grow at a CAGR of 29.47% during the forecast period, reaching a total market size of US$527.859 billion in 2027 from US$86.559 billion in 2020.
The growth of the global E-Learning market is driven by the rising demand for effective training of employees for better performance and high technology adoption across the world. The demand for higher education is fueled by its advantages like affordability and easy accessibility.
Online education is more convenient in terms of location, and it also allows for greater flexibility in terms of time. These include games, one-on-one interaction, assignments, easy sharing and downloading of materials, and improving communication and interaction among students and teachers. These new techniques are majorly driving the market as they are attracting more people to choose an affordable and accessible way of education.
E-Learning has made study content more concise and expressive simultaneously with the use of audio, videos, and other graphics. Companies providing e-learning services are engaging in innovative growth strategies to engage people in learning through these online learning platforms. Companies are providing online degree courses and even diploma and certificate courses for students for validation of completion of certain skill or training courses or programs. Courses range from short-term to long-term like a year or more and are divided into sections in short. This, in addition, is driving the market as it makes people more confident in the course offered.
The global E-Learning service market is segmented by type and end user. By type, the market is segmented as synchronous and asynchronous. On the basis of end-user, the global e-learning service market is segmented as corporate, academic, and government.
Growing technological advancements
Technological advancements such as AR & VR devices, AI platforms, big data, and machine learning provide a great opportunity for the growth of the e-learning service market during the next five years. These technologies are helping companies to share and deliver education-based content in innovative and interactive ways.
Internet Penetration
The increasing penetration of the internet worldwide is also contributing to the growth of the e-learning service market as more people are using the internet for educating themselves and learning new skills. According to the World Bank data, the penetration of the internet has grown double-fold in a decade, from 22.96% of individuals using the internet in 2008 to 49.72% of individuals using the internet in 2017. The proliferation of smartphones combined with rising internet connectivity is thus, bolstering the growth of the e-learning service market.
Asynchronous learning holds a significant market share
The market for asynchronous e-learning holds a significant share of the global e-learning service market. Asynchronous learning is more popular as compared to synchronous learning. This is because the former provides flexibility and pacing along with affordability. Asynchronous learning means studying a course by using reading materials, viewing lectures, and completing assignments, and exams for evaluation within a flexible time frame. However, the synchronous learning service market is poised to grow at a significant CAGR during the forecast period. This type of e-learning service is offered in real-time and includes video conferencing, teleconferencing, live chat, and live-streaming lectures. It happens in a specific virtual place, through a specific online medium, and at a specific time.
The corporate sector uses e-learning services to train employees
The corporate segment will witness market growth at a significant CAGR during the forecast period. Companies are increasingly investing in e-learning services for training employees in order to enhance their skill-based proficiency and improve their performance. Corporates are trying to opt for courses that help learners grow their aptitude and improve their career prospects. People who are employed can study online after working hours and can get quality education from leading professionals and highly qualified professors from renowned universities without even attending B-schools. Corporates are implementing e-learning for employees for talent enhancement and employee retention, thus bolstering the market growth of e-learning services across this sector.
The academic segment holds significant market share due to continuously rising tuition fees and the ever-increasing expenses of higher education. People are opting for E-learning as it provides a degree and certification course. Moreover, the emerging popularity of distance education is further fueling the demand for e-learning services across this sector, thus positively impacting the market growth.
North America is anticipated to hold a significant market share in the projected period.
Regionally, the global e-Learning service market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. North America accounted for a significant market share in 2020 owing to the continuous rise in tuition fees in countries like the U.S. and Canada. Moreover, high awareness about the benefits of e-learning services further supports the market growth of e-learning services in the region.
The Asia Pacific region will witness a decent market growth rate owing to urbanization and an increase in disposable income. People are becoming more aware of the advantages and benefits of e-learning and want to learn new skills and improve their aptitude for better job opportunities. This will drive the e-learning service market in the Asia Pacific region.
Key Developments in the Market
COVID-19 Insights
COVID-19 had a positive impact on the global e-learning platform. The rapid onset of the pandemic and its rapid spread had led to the enforcement of the lockdown and social distancing measures by multiple governments across the globe, leading to the closure of thousands of educational facilities. Subsequently, to tackle the crisis and offer quality remote education, schools and universities adopted e-learning platforms, expanding the market growth exponentially.
| Report Metric | Details |
| Market Size Value in 2020 | US$86.559 billion |
| Market Size Value in 2027 | US$527.859 billion |
| Growth Rate | CAGR of 29.47% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, End-User, And Geography |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered | Oracle, Pearson, Blackboard, Inc., Meridian Knowledge Systems, Allen Interactions Inc, Aptara Inc., Cisco System Inc., InfoPro Learning, Inc., CrossKnowledge, Virtual College, Learning Pool, D2L Corporation |
| Customization Scope | Free report customization with purchase |
Segmentation
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the E-Learning service market?
A1. The E-Learning service market is expected to grow at a CAGR of 29.47% over the forecast period.
Q2. What will be the E-Learning service market size by 2027?
A2. The global E-Learning service market is expected to reach a market size of US$527.859 billion by 2027.
Q3. What is the size of the global E-Learning service market?
A3. E-Learning Service Market was valued at US$86.559 billion in 2020.
Q4. What factors are anticipated to drive the E-Learning service market growth?
A4. The E-Learning service market growth is driven by the rising demand for effective training of employees for better performance and high technology adoption across the world.
Q5. Which region holds the maximum market share in the E-Learning service market?
A5. North America accounted for a significant share in the E-Learning service market owing to the continuous rise in tuition fees in countries like the U.S. and Canada.
Oracle
Pearson
Blackboard, Inc.
Meridian Knowledge Systems
Allen Interactions Inc
Aptara Inc.
Cisco System Inc.
CrossKnowledge
Virtual College
Learning Pool
D2L Corporation.
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