Today’s educational environment is undergoing a change surpassing any we’ve previously witnessed. The e-learning business expansion statistics show no indications of settling down with the commercial e-learning business anticipated to increase by up to $38 billion between 2020 and 2024.
E – learning creates new doors for everyone however it is not completely flawless. Not all forms of e learning are expanding, and others are falling. Statistics mostly on the self-paced e-learning industry, for instance, show a 6.4 percent or more annual drop.
This is regardless of the fact that both students and staff cite self-paced training as a significant motivation for using e-learning.
E-Learning is anticipated to ascend to the highest point in this era, filling any gaps left by falling figures in the self-paced online educational industry.
- As the COVID-19 epidemic flipped private and organizational worlds inverted, digital training evolved as a secure and realistic choice for educational continuation. Even prior to the pandemic, the worldwide elearning industry was seeing huge yearly growth. It is anticipated to expand at a pace during the forecast period (CAGR) of 9.1 percent from 2018 to 2026, reaching $336.98 billion by 2026. Because of the epidemic, the economic forecasts are likely to be updated sooner rather than later.
- Even before the epidemic, the e – learning industry in the United States is expected to rise to $6.22 billion during 2017 and 2022.
- The United States, India, China, South Korea, the United Kingdom, and Democratic Republic of the Congo are recognised to be the countries that spend much more on the e – learning system.
- Content-related online training solutions account for about 59 percent of the US e – learning market dominance.
- The rising popularity of digital education in the United States can be linked to rising student demand. Over 30% of American students are participating in at least one education platform, according to estimates.
- Approximately 99 percent of these individuals enrolled in online degree programmes in the United States are practically based in the nation.
- According to a poll, 52 percent of graduate candidates in the United States believe their digital university education provides a superior educational experience than their university traditional classrooms.
- Germany dominates the European Union’s e – learning marketplace.
- Germany’s web – based learning industry is increasing at an annualized rate of 8.5 percent, whereas the country’s GDP is rising at a pace of about 1.9 percent.
- As per a study prepared for the European University Association, the fundamental aim of the European Higher Education Area is to use online technology to supplement conventional university education rather than just to substitute it.
- Educational software spending in the United States simply has already surpassed $13 billion. Because electronic learning takes place via the world wide web, it apparently makes use of technological advances as educational technology progresses, so will e-learning.
- Learning experience platforms (LXPs), the next-generation learning management systems (LMS), will continue to play a significant role in offering a more personalised and interactive digital educational experience. LXPs, whose market value already has surpassed $350 million, are AI-powered educational platforms that are projected to be widely implemented by large companies.
- Videos are one of the highly successful forms of information on the web nowadays. Whenever it relates to digital training and development, video is more popular than written materials. Video is regarded as an essential component of virtual classrooms and leadership training because of its attractive and comprehensive information structure.
- Visual techniques that are more sophisticated may potentially make their way into the e – learning sector. Artificial intelligence (AR) and virtual reality (VR) are two of these advanced technologies. VR is a technology that offers consumers a cinematic experience that seeks to isolate them from their realistic physical world Meanwhile, augmented reality (AR) augments a live vision provided by a technological device’s camera.
- Because they are extremely costly it is probable that they will first be used for teaching and increasing productivity by large businesses. Amazon, UPS, and Airbus, for example, have already included VR into their staff educational programmes. Walmart has collaborated with VR training firm Strivr to create Virtual training scenarios that can be played on Oculus devices. Walmart is able to teach staff in-store using these technologies, rather than sending them to Walmart Academic institutions. UPS, on the other hand, uses HTC Vive VR headsets to teach operators in detecting possible risks as they travel down simulated highways. Similarly, Boeing used augmented reality to give hands-free, augmented reality schematics to its employees while they construct and troubleshoot aircraft electrical cabling.
- According to a study, 67 percent of American university students completed all or some of their course-related tasks on their handheld phones.
- Furthermore, 12% were unable to utilise their personal technologies for course-related operations but would have done so if given the opportunity.
- Only 21% have not utilised their smart phones for educational reasons and therefore do not intend to do it anyway.
- Another research discovered that learners feel smart phones make it simpler for them to obtain courses. They also promote contact with other students and teachers, as well as assist them promote the performance of the employee and expertise in their subject of study. Instructors may attract additional participants in this respect by making their lectures, resources, and exercises available via smartphone or tablet.
- The pandemic’s consequences are expected to inflict a six-month to five-year interruption.
- Enrolment is expected to drop by 15% to 25%.
- As per a collaborative work by the Boston Consulting Group and Arizona State University (2018), total post-secondary students enrolment is now declining by 1% to 2% each year, whereas the percentage of students attending courses online is increasing by 5% per year.
- According to one study, the number of undergraduates attending one or more digital undergrad courses grew from 15.6 percent in 2004 to 43.1 percent in 2016.
- According to the identical research, the percentage of undergraduate individuals enrolled in completely digital graduation programmes grew from 3.8 percent in 2008 to 10.8 percent in 2016.
- Snyder, Brey, and Dillow (2018) found that the percentage of graduate candidates who completed completely electronic graduation (postgraduate) degree programmes grew from 6.1 percent in 2008 to 27.3 percent in 2016.
- Grad students taking one and sometimes more degree training grew from 16.5 percent in 2008 to 45.6 percent in 2016.
- Furthermore, study results revealed that there are more women digital higher education participants than men. These were discovered that 65 percent of undergrad internet learners and 54 percent of grad web learners are female.
- Grad students pursuing a master’s or doctorate degree may also find digital training appealing. According to a poll performed by Learning House, Inc. and Aslanian Market Research (2018), 86 percent of 1,500 graduating student participants thought that the quality they received from their digital education was equivalent to or more than what they invested for.
- Eight Ivy League universities have already implemented online education, albeit cautiously and mostly in the form of blended learning. They provide access to select online courses that can be taken in addition to on-campus classes. Some institutions have also offered a taste of Ivy League education via Massive Open Online Courses (MOOCs). There are a few Ivy League alternatives for qualified students who want to pursue a university degree completely digital.
- Undergrads, on the other hand, have just the University of Pennsylvania as a dating choice if they want to have an Ivy League bachelor’s degree. Presently, UPenn provides just one completely internet based undergraduate degree programme. Students who want to pursue additional qualifications will have to go elsewhere.
- Undergraduate candidates can potentially attend simple courses taught by Ivy League professors utilizing MOOC sites like Coursera and edX. The majority of all these programs are free for students to audit. They can obtain a validated curriculum completion certification for an extra cost varying between $40 to $160.
- According to a 2019 poll of 1,500 digital student responses, the leading factors why students select online programmes are the course’s cost, the prestige of the school/program, and how a programme provides the shortest path to obtaining a degree.
- When it comes to suppliers and professors, the main factors they evaluate when launching a fresh digital programme are employment needs for certain talents and student requirements.
- Additionally, educational officials from both governmental and private establishments say that digital education programmes primarily target young students returning to university after a break, and also transferring pupils.
- Per a LinkedIn research, 94 percent of professionals would possibly continue with a firm that participates in training and development for a prolonged period of time (2018). Despite the fact that professional development is recognised as a key element of employee recruitment and engagement businesses must overcome obstacles connected with implementation and fulfillment. Professionals, for example, do not possess sufficient resources to commit to development and learning.
- The ordinary professional has just 24 minutes each week to devote to training, as per Josh Bersin’s learner research (2018). This is why the top one problem for developing talent is persuading workers to create interaction among students.
- Additional issue associated with professional development is its expense. As per a KPMG position document travel costs simply increase by up to 60% of overall educational expenses (2015).
- Along with a Brandon Hall Group research, e – learning requires 40 percent to 60 percent less personnel time than conventional training.
- In terms of cost reductions, Dow Chemical allegedly saved $34 million by reducing training course expenses from $95 to $11 per student after switching from traditional classroom to organizational e – learning technologies.
- With over 90% of businesses already adopting internet education compared to only 4% in 1995, the commercial sector is likely to be among the most important development drivers in the digital education market this couple of years.
E-learning is the way of the future. Since these astounding e-learning statistics evidently demonstrate, it is indeed a thriving sector. E-learning is now increasingly accessible than ever, thanks to statistical visualisation, performance monitoring, and project management tools.
Considering statistics and facts in its favour, it is reasonable to assume that digital learning is here to thrive. The rapid rise in e – learning systems, along with the fact that it is becoming virtually a need due to the pandemic, says eloquently about its unstoppable expansion.
It is extremely tough to imagine an optimistic prospect again for the international digital education sector as more providers, instructors, organisations, and students recognise the advantages of e – learning.