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COVID-19

E-Learning Market to Grow by USD 93.64 Billion During 2020-2024, Progressing at a CAGR of Almost 13%

Strategic Insights

— 1 min read

The COVID-19 pandemic has transformed the growth of various industries, with some experiencing a drop in demand while others show promising growth opportunities. The e-learning market is no exception, with an increase in the adoption of microlearning being a major trend driving its growth. The market is expected to grow by USD 93.64 billion during 2020-2024, progressing at a CAGR of almost 13%. The report by Technavio highlights the rising adoption of gamification as a key market driver, with the APAC region contributing 34% of the market share.

Key Takeaways:

  • The market is expected to grow by USD 93.64 billion during 2020-2024, progressing at a CAGR of almost 13%.
  • The APAC region will contribute 34% of the market share.
  • The increasing adoption of microlearning is a major trend driving the growth of the market.
  • The market is expected to witness an increase in cloud computing solutions for the academic sector, and the rise of Industry 4.0 will also contribute to its growth.
  • The market is influenced by several factors, including the rise of gamification, the growing demand for online learning, and the increasing adoption of mobile devices.
  • The report highlights the top players in the market, including Adobe Inc., Blackboard Inc., Cisco Systems Inc., GP Strategies Corp., Instructure Inc., NIIT Ltd., Oracle Corp., Pearson Plc, Skillsoft Corp., and Thomson Reuters Corp.
  • The market is expected to see an increase in the adoption of artificial intelligence (AI) and machine learning (ML) in the e-learning sector.
  • The e-learning market is segmented by end-user, including higher education, corporate, and K-12, with higher education being the largest segment.

Statistics:

  • The market is expected to grow by USD 93.64 billion during 2020-2024.
  • The CAGR of the market during the forecast period is almost 13%.
  • The APAC region will contribute 34% of the market share.
  • The market is expected to witness an increase in cloud computing solutions for the academic sector, with the growth rate expected to be around 12%.
  • The e-learning market is expected to see an increase in the adoption of AI and ML, with the growth rate expected to be around 10%.
  • The market is expected to see an increase in the adoption of mobile devices, with the growth rate expected to be around 12%.

Sources:

  • Technavio
  • Businesswire.com

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