The concept of eLearning or e-learning refers to online learning and training through various mediums such as courses, educational videos, online learning tools or other programs for the education industry, corporate training, or self-paced learning.
With the eLearning market numbers changing significantly over the last few years due to the pandemic, we have looked at the eLearning industry statistics and their impact on business, education, and self-improvement. We’ve compiled a list of the 10 most interesting statistics about eLearning to keep you up-to-date with the latest trends.
- According to GlobeNewswire, global spending on eLearning will reach $457. 8 billion by 2026. According to Fortune Business Insights, this growth is largely driven by increased demand for corporate training programs. Furthermore, educational institutions are implementing digital learning solutions at a faster rate than ever before.
- The Middle Eastern market for online learning will be worth an estimated $9 billion by 2023, up from $3 billion in 2018. This is a compound annual growth rate of 16%.
- According to Statista, in the eLearning market, North America has a 29% share followed by Asia Pacific with 28%. Europe accounts for 22%, Latin America 12%, and the Middle East & Africa 9%.
- Saudi Arabia is leading the way with a projected value of over US$4 billion by 2023 due to increased government investment in education technology initiatives such as “e-learning” platforms, digital libraries and educational apps.
- The UAE has seen rapid adoption of mobile learning applications which allow users to access their course material anytime anywhere on their smartphones or tablets. This is extremely convenient especially when travelling abroad or during long commutes.
- According to recent studies conducted by the Bahrain Institute of Statistics and Technology (BIST), 60 percent of Kuwait’s adult population participates in distance education programs, a figure that may double in the coming years under prevailing market conditions.
- 65% of millennials chose their current jobs based on the personal and professional development opportunities offered.
- 2 Fortune 500 companies rely on E-learning tools. This is due to the increased demand for digital learning solutions in the region. This is due to a variety of factors such as the need to cut down on travel costs and reduce time to market for the corporate sector. Additionally, the increased use of mobile devices and the availability of high-speed internet have made it easier for users to access digital learning materials.
- Mobile devices have become increasingly popular among learners; it’s estimated that 70% or more students use their smartphones for educational purposes such as researching topics or watching lectures.
- Learning Management Systems (LMS) remain incredibly useful tools for managing and tracking progress in courses and programs; according to Software Advice, 78 percent of users rate them ‘very satisfied’ after using them at least once a year! Don’t forget to check out our LMS.
Every day, eLearning platforms’ capabilities expand. These technologies are still being adopted by businesses and educational organizations to advance personal growth. EdTech software is enhancing education, and it is anticipated that this will increase the size of the learning economy. In the post-pandemic world, eLearning investment is increasing. In order to maximize benefits, these platforms also need to be customized to each distinct location and company.