e-Learning Market to hit $52.6B by 2010
With an already strong foothold in the enterprise sector, e-learning is advancing in K-12 and higher education teaching environments, according to San Jose, CA-based market researchers Global Industry Analysts, which project the global e-learning market to surpass $52.6 billion by 2010.
Already the 2007 U.S. e-learning market is $17.5 billion according to "eLearning: A Global Strategic Business Report," a new report recently published by Global Industry Analysts. Besides market size, the report covers market trends, challenges, forces driving the market, technologies, types of end users and profiles of e-learning usage broken down by geography.
While Europe and Japan lag on e-learning adoption compared to the United States (U.S. enterprise e-learning adoption accounts for 60 percent of the market, while Europe's accounts for 15 percent), overall usage of e-learning in Asia is expected to reach a compound annual growth rate of 25 percent to 30 percent through 2010, according to the firm. Worldwide that rate should hit between 15 percent and 30 percent, the report states.
The key driver for e-learning usage is attributed to an increased number of solutions and services. However, the report warns that a lack of interoperability standards could stifle e-learning's growth.
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