Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Corporate eLearning Market Size and Forecast (2022–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Business Function (Learning Management System (LMS), Online E-Learning, Mobile E-Learning, Others); Organization Size (Large Enterprises, Small and Medium-Sized Enterprises); Deployment (Cloud, On-Premises)” the market in terms of revenue was estimated to be worth $108.79 billion in 2022 and is poised to reach $395.28 billion by 2030, growing at a CAGR of 17.5% from 2022 to 2030.
The rising emphasis of organizations on updating their development programs and increased digital transformation drives market growth. However, Slow internet connections and poor networks in emerging and undeveloped countries are expected to hinder market growth.
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Global Corporate eLearning Market Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 108.79 billion in 2022 |
| Market Size Value by | US$ 395.28 billion by 2030 |
| Growth rate | CAGR of 17.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Business Function, Organization Size, Deployment, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Growing Trend of Personalized eLearning Drives the Global Corporate eLearning Market Growth:
Personalized E-learning is a learner-centered approach intending to create a learning experience tailored to the employee's needs and abilities to improve engagement and provide motivation and learning outcomes. This way of E-learning encourages employees to take an active role, as it helps set goals, track progress, and reflect on their learning. This process also provides better learning outcomes, such as higher retention rates and better assessment performance, as the online courses are designed according to the learner's interest. Furthermore, personalized learning allows learners to access their courses at their own pace and schedule, which helps in learning different subjects even with busy schedules. Owing to all the above benefits, various market players offer personalized learning experiences to customers. In April 2023, Coursera announced the launch of new platform tools and features to help provide customers with personalized and interactive online learning. These new tools and features are Coursera Coach Powered by Generative AI, ML-Powered Translations, and Flexible Viewing in Guided Projects, which will provide more personalized learning to the customers. Thus, the growing demand for personalized learning and the increasing adoption of the approach by the market players will fuel the growth of the corporate eLearning market during the forecast period. Furthermore, Governments are actively promoting digital literacy and skills development to ensure that citizens are equipped to participate in the digital economy. Training programs and partnerships with educational institutions are being established to provide the workforce with the necessary skills in areas such as coding, data analytics, and cybersecurity. Hence, rising government initiatives on E-learning are also boosting the corporate eLearning market growth.
The Asia-Pacific corporate eLearning market includes the analysis of countries such as China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The adoption of corporate eLearning in the Asia Pacific region is driven by factors such as increasing demand for online learning solutions and the inclination towards on-the-go learning practices. Improvement in educational resources and economic progress in developing countries are also expected to drive the adoption of corporate eLearning in the region. Further, Asia Pacific is witnessing a growing emphasis on skills development to enhance employability. Many Asian countries are increasingly investing in skill development programs for their workforce in order to combat globalization and changing patterns of work and skill gap. All such factors are contributing to market growth in APAC.
The US has witnessed huge growth in the corporate eLearning market. As a result of the COVID-19 pandemic, remote work and online learning models have become mandatory. The US is one of the top countries in the world for having successfully implemented eLearning solutions. Some of the key trends in eLearning in the US are Custom eLearning, micro-learning, and mobile learning; with custom eLearning, organizations get the freedom to customize the themes, content, colors, fonts, images, and others based on the course. Such solutions are created specifically for their staff based on the job roles, business needs, and training requirements of organizations. According to reports, retention rates are increased by 25% to 60% through e-learning in the US. All such factors are contributing to the corporate eLearning market growth in the US.
Vocational education and training have a long tradition in Germany with a dual system. The German dual system offers an excellent approach to skill development, covering initial vocational education and training. Training, testing, and certificates are standardized in all industries throughout the country. Digitalization has changed how we learn and work. Interactive, innovative, and flexible formats have emerged on the Internet. The digital revolution brings significant changes to occupational profiles and training regulations with the adoption of corporate eLearning solutions. All such factors are contributing to the corporate eLearning market growth in Germany.
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Global Corporate eLearning Market: Segmental Overview
Based on technology, the market is segmented into learning management systems (LMS), online e-learning, mobile e-learning, and others. The popular and newest form of distance education today is online learning. It has substantially impacted post-secondary education over the past decade, and the trend is increasing at a steady pace. Online learning allows learners to learn remotely, as most online educational tools are portable. Mobile learning or mLearning refers to the usage of mobile devices to access educational materials. With this approach, users can easily access their learning materials as and when needed. Mobile learning effectively increases learners’ productivity to a great extent, and the success rate is higher than that of learners who use desktops and other devices to learn.
Global Corporate eLearning Market Analysis: Competitive Landscape and Key Developments
Absorb Software Inc., Adobe Systems, Cornerstone, SAP SE; Skillsoft Corporation, Oracle, Infor, Cornerstone; Citrix Systems Inc.; Coursera Inc.; and Udemy Inc. are a few of the key companies operating in the corporate eLearning market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
Recent Developments:
- In August 2022, Education services provider CoreSenses tapped Sydney managed services provider Com-X to deploy Citrix workplace solutions to form the backbone of a virtual education platform. CoreSenses, which uses neuroscience research to help students identify and strengthen cognitive functions to aid with learning, built a virtual education platform using Citrix Virtual Apps and Desktops and Citrix Gateway Enterprise.
- In August 2022, Enterprise application software provider SAP announced that it had reached an agreement to sell its corporate training solutions platform SAP Litmos to Francisco Partners. This global private equity firm specializes in partnering with technology and technology-enabled businesses.
- In June 2023, France Tourism Development Agency (Paris), in collaboration with 8 of its worldwide offices – USA, Canada, Brazil, Mexico, Middle East, India, Japan, and South Africa launched its certified B2B E-learning program “France Connoisseur.” This will be the first to be followed by other markets. This user-friendly and interactive platform allows an in-depth discovery of each of France’s diverse regions and its overseas territories.
- In March 2023, Omniplex Learning secured development capital investment from leading mid-market private equity investor LDC. This investment will help the company to add specialist digital learning solutions to Omniplex Learning’s product suite, which includes authoring tools Articulate 360, Vyond, and market-leading Learning Management Software, Docebo, which empowers organizations to design, create, and deliver effective and engaging digital learning.
- In August 2022, Enterprise application software provider SAP announced that it had reached an agreement to sell its corporate training solutions platform SAP Litmos to Francisco Partners. This global private equity firm specializes in partnering with technology and technology-enabled businesses.
Go through further research published by The Insight Partners:
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Smart Learning Systems Market - Global Analysis and Forecast to 2030
Mobile Learning Market - Global Analysis and Forecast to 2030
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