The Power Of The eLearning Sector
eLearning and digital development have moved beyond the traditional. As a result, the organizational space has changed overnight. COVID-19 pushed organizations to digitalize their entire practice, including remote working, corporate training, workplace onboarding, and employee development programs. This global shift toward digitalization has dramatically changed everyone's perception of Learning and Development.
eLearning has also changed the way students learn. Unlike traditional teaching methods in a classroom, eLearning makes it easier and is more effective. Moreover, different websites offer various options and techniques for better learning, practical self-improvement, and creative development. These include essay writing, online tutoring, digital dictionaries, plagiarism and editing software, and video tutorials. Therefore, eLearning provides immense advantages and a platform for students to learn at their comfort.
eLearning Accommodates Everyone
The digital revolution has significantly changed how content is accessed, used, discussed, and shared. As a result, people from any background can join the online course of their choice.
1. Access To Up-To-Date Content
One major advantage of eLearning is that it keeps you in sync with modern learners. In addition, it allows the student to have access to updated information whenever they desire.
2. Lectures Accessible At Any Time
In contrast to classroom instruction, online learning allows you to view the information an infinite number of times. This provides great help, specifically while preparing for an exam. If you cannot attend the lecture, you must learn that topic on your own. Thanks to eLearning, you can do so with a few clicks.
3. Efficiency
eLearning has a promising impact on an individual or organization's profitability. Online learning tools facilitate better comprehension of the content. Other ways eLearning increases the efficiency of an organization include:
- Achievement of higher scores on any certification, test, or evaluation exam
- Increase in workers' capacity to acquire and apply new methods or expertise on the job
- Assistance with the retention of knowledge for a longer period
4. Reduced Environmental Impact
eLearning is paperless and so helps conserve the environment to a large extent. According to research on eLearning courses, online learning programs utilized less electricity and created fewer CO2 emissions than the typical campus-based courses. In addition, there is no need to cut down forests to get paper while using eLearning. As a result, eLearning is a very environmentally friendly method of education.
All these benefits make eLearning the better option. So, while the world is digitalizing to its maximum, let's talk about the facts and stats that can help you grasp the importance of eLearning.
eLearning Facts And Stats
Online learning through different methods typically requires 40–60% less time than traditional classroom learning. In addition, with eLearning, applicants study nearly 5 times more material without increasing the time spent in training.
Even in the corporate world, the technical shift has made some progress. As a result, 42% of businesses claim online learning has improved revenue. Here are some more facts from the year 2020 to highlight the benefits of online learning:
- Every penny spent on online training leads to a $30 increase in output.
- Companies achieved about 18% employee engagement by adopting eLearning technologies.
- Currently, more than 41.7% of global Fortune 500 organizations utilize eLearning platforms to train their workers.
- 72% of firms believe eLearning helps them maintain a competitive edge by keeping up with changing technologies.
The online sectors have grown about 90% since the 2000s. Universities and schools provide technical training, online teaching helpers, online writing services, examination attempts, and much more to expand their learning process beyond the traditional classroom environment.
eLearning Statistics
- The worth of the eLearning market is predicted to hike to $374 billion in 2026.
- In 2017, approximately 77% of corporations used eLearning, but 98% planned to introduce them to their organization by 2020.
- Online learning reduces energy consumption by 90%.
- Online learning raises retention rates by 25-60%.
- The commercial eLearning industry could increase by $38.09 billion between 2020 and 2024.
- A teachers' platform, Skillshare, earned an average of $40,000 a year in 2020.
- A survey of 2500 companies found that those with "comprehensive training programs" have a 218% higher revenue per employee and a 24% higher profit margin.
According to global reports about eLearning, worldwide, the eLearning industry will rise to more than $240 billion by 2022. These figures are not surprising given the significant expansion of eLearning in recent years. Furthermore, according to research trends, the digital education and eLearning industries had a total value of $46 billion in 2016 and are predicted to expand to $243 billion by 2022.
Fast Results
Online courses can be finished nearly 60% faster than in-person lessons. In-person courses are long and exhausting for students all around the world. Because students may work at their own speed, learning online can help them finish considerably faster than traditional semester-long courses.
eLearning In The U.S. And Europe
According to the data, the United States and Europe account for most of the worldwide eLearning sector. According to statistics, the United States and Europe make up about 70% of the global eLearning market revenue, indicating most eLearning activity is absorbed in the United States and Europe.
Like every other innovation, there are different strengths and weaknesses of eLearning. However, the above statistics reveal that the benefits outweigh the costs. The near future is all about online learning and digitalization.