Learn More About The eLearning Industry
The eLearning industry has seen rapid growth in the past few years. From slideshows to AR technology, it has evolved a lot. A Statista report says, currently, more than 3.8 billion smartphone users exist in the market. And now, with that many users, many developers have started offering services via mobile apps for almost everything, be it learning, traveling, or even eating, there’s a mobile app that already exists.
Now, with such digitalization, which has grown, especially during COVID-19, eLearning has kept learners and teachers connected. Even though colleges and universities were closed, eLearning made sure that the learning process did not stop. It also helped students and teachers stay protected against the deadly virus.
The culture of online learning started in 1990 when Duke University and Cornell University initiated online certification programs. Currently, online courses have more than six million students globally.
eLearning Industry Statistics
To understand the real impact of the eLearning industry on our lives, statistics can be a big help. Let’s have a look at the most crucial ones:
- A report by GlobalNewswire [1] states that the eLearning industry is expected to reach 305.3 billion USD by 2025.
- BusinessWorld’s report says in India, the eLearning industry is expected to reach 1.96 billion USD by 2021 with a 25% growth rate per year.
- According to Fortune Business Insights, the Global Learning Management System (LMS) is expected to reach a value of 38.10 billion USD by 2027.
Crucial Roles Of The eLearning Industry In Our Lives
The eLearning industry is growing rapidly. Moreover, it is also evolving technologically. Take AR and VR for instance. Now, fields such as medicine, engineering, and architecture, among others are using AR and VR to teach their students. This is not only resulting in a better study experience but it is also making learning fun and interesting.
Let’s have a look at 6 benefits of the eLearning industry:
1. More Accessible Learning
Now, with the help of eLearning, more and more students can have the resources to learn anywhere and at any time. Moreover, eLearning is also taking education to remote places where schools do not exist. Apart from this, in many countries, children have to spend most of their time earning. Thus, they ditch school. eLearning can fill that space if they have more access to smartphones.
2. Education Is Getting Cheaper
With the help of the internet, not only is it possible to learn for free but also to receive assistance from real people who won’t charge students as much as colleges. For instance, Khan Academy and Udemy are top examples of offering teaching for free for quite some time. And, the best part is the curriculum covered by such learning apps is suitable for students from various countries.
Moreover, other stuff such as notebooks, books, pens, etc., is not required anymore. This stops unnecessary expenses, and students don't need to carry heavy bags with many books anymore.
3. Personalized Learning Assistance
Many eLearning apps are using AI to keep a track of the users' performance. Accordingly, the AI gives them a personalized learning experience along with helpful tips. Apps such as Embibe have a website as well. On the portal, you can choose your preferred course and test your knowledge periodically. Every test will result in a personalized graph where you can see your weaknesses and strengths.
4. An Earning Platform For Teachers
A few years back, teachers were either depending on colleges or tuition. But, the major difference between online learning versus classroom learning [2] is that now anyone with good knowledge of any particular subject has a chance of making money. Signing up for these platforms and being a teacher is easier, even for a fresher.
5. Opportunity To Upgrade Skills For Employees
Many employees are growing in their careers by signing up for the skill upgrade courses. As it is said, “There is no right age to learn.” Organizations like Udemy are offering skill-based learning courses such as Python, Java, economics, and more for people to grow their skills.
6. Fun Learning
As mentioned above, AR and VR technologies are being used to teach medical students. Moreover, many schools have adopted technology to educate students about topics such as space, science, technology, and more. Current AR technology is smart enough to detect real objects and integrate AR elements into them. Moreover, VR technology brings students way closer to the real world. So, it is not only easy to understand but also a fun way to remember things.
Conclusion
The future of eLearning is evolving and it has not reached its full potential yet. There are many countries where the internet is still expensive. Thus, for the eLearning industry, reaching every user in the market is still a task that sounds impossible. However, when things are different, such as cheaper internet for everyone and more users are able to use smartphones, the eLearning industry will also witness a positive impact.
References:
[1] The global market for e-Learning is projected to reach US$305.3 billion by 2025
[2] How E-Learning Platforms are Competing with the Traditional Learning System
