E-Learning to Reach $1 Trillion Within 6 Years
The surge in distance learning during the COVID-19 pandemic is
helping to drive staggering growth in the worldwide e-learning
market.
As of 2020, the e-learning market was at $250 billion, according to
market research firm Global
Market Insights. That is expected to surge at a compound annual
growth rate of 21% through 2027 to hit $1 trillion. That includes
academic, corporate and government use of e-learning.
North America, primarily the United States, accounted for more than
35% of e-learning revenues, according to a 300-page report released
by Global Market Insights. The Asia-Pacific market is expected to
account for 26% over the forecast period.
“In the U.S. e-learning market, the service providers segment will
expand at 17% CAGR during the forecast timespan. The availability of
high-speed internet and the advent of the 5G network in the U.S. are
providing lucrative opportunities for market players to adopt
innovative technologies. [The advent of 5G] will enable service
providers to improve learning through the incorporation of AR &
VR technologies that require a high-speed internet connection for
effective operation.”
Further details can be found on the Global
Market Insights report highlight page.