The dominance of distance learning during the Covid-19 pandemic is driving overwhelming growth in the universal e-learning market.
According to a recent study, as of 2020, the e-learning market was positioned at $250 billion. This is likely to rise at a compound annual growth rate of 21 % till 2027, to hit $1 trillion. This data includes both corporate and government use of e-learning.
Due to high growth in this sector, many new players are emerging every single day! In this blog, we will discuss the leading e-learning companies that are expected to grow tremendously in 2022.
But before that, let us first understand what the e-learning market is, and how it shapes modern-day education.
What is the E-learning Market?
E-learning denotes the use of communication technologies, electronic media, and information in education. E-learning is where a large number of audiences can avail education at the same time.
E-learning is where the transfer of knowledge and skills, and the distribution of education is made to a vast number of receivers at similar or diverse times.
Earlier, it was not recognized enthusiastically as it was anticipated that this system was short of the human element mandatory in learning. However, with the rapid growth in technology, the masses now accept it. And Covid-19 pandemic has played a massive role in his sudden rise in popularity.
As the educational institutions were locked down, the instructors and learners were forced to adapt to e-learning and Virtual Reality Services. And now, it is here to stay even when the pandemic ends completely.
How e-learning is shaping modern day Education?
E-learning is bringing massive changes to modern day learning. Books are slowly getting replaced by digital tools like eBooks and Audio books. Knowledge can also be pooled via the millions of sources available on the internet, accessible 24/7, anytime, anywhere.
In the present scenario, the e-learning market can be subdivided into four components:
- Learning Management Systems
- eLearning Content
- The Consumer / Learners / Trainees
- eLearning Content Distribution Systems
A proficient partnership of all these components lead to a nourishing and effective e-learning experience for a consumer.
Some aspects affect diverse components of the e-learning market, which every organisation must keep in mind. Consumer behaviour is affected by the fee of learning, the flexibility provided while learning, and the quality of learning content.
Also, the LMS systems have to be effective enough. It should back continuous and straightforward mixing of content from diverse sources and must be accessible to sustain the desires of rising demand.
Delivery modes can take the forms of game-based learning, immersive, learning portals and MOOCs. The presence of flexible learning modules and multimodal learning adds another dimension to the growth of eLearning. Organisations are trying to bring in this model to make e-learning custom-made and flexible.
Majorly the e-learning market caters to academic learning and corporate training.
Some of The Leading eLearning Companies
There are many eLearning companies which are growing at a rapid pace, but some of them have already established their name in the market.
Acadecraft
Acadecraft is one of the leading e-learning service providers. It offers both academic and corporate learning solutions. It has a team of well-qualified SMEs, Online tutors, Instructional designers and writers.
They offer a variety of customised services for AR/VR platforms used by Ed-Tech companies. Also they provide:
- eLearning solutions like gamified learning, rapid eLearning, and others.
- Animated learning videos including whiteboard animation, 2D and 3D animation.
- Learning management systems and customised learning modules.
- Proofreading and Editing services for learning content, and many other services.
Udemy
Udemy is a widely held online learning platform that gives individuals a chance to develop their careers and discover a wide range of hobbies. From web expansion to speech-making, they provide a broad range of courses.
Lynda.com (now LinkedIn Learning)
Lynda.com, now part of LinkedIn Learning, is a MOOC website that wraps various technology, creative, and business courses. For over a video period, Lynda.com has provided informative and clear video-based training for corporate, individual, and academics. This site is quite renowned for teaching skills such as coding and photography.
edX
edX is a MOOC platform that provides university-level online courses. It has over 120 institutional partners like MIT, Delft, Harvard, Berkeley, Sorbonne, RWTH, and more.
Companies Assisting Corporate Training
Corporate training is a means of offering learners the skills and knowledge they need to achieve their jobs at a high level. This is usually the duty of the Talent teams/Learning and Development in more prominent companies and the Human Resources department in small organizations.
Acadecraft is known to offer the best corporate training solutions to client companies. They cover a large base of companies, serving clients from It sector, Marketing, and Ed-tech companies.
Summing up
E-Learning is here to stay and is one of the most effective methods of providing education and corporate training. In this blog, we have presented what e-learning is, how it shapes education and leading players in the academic sector and corporate training. Now, it’s your time to act!
If you need assistance in developing eLearning courses for your employees and learners, then Acadecraft is right here to help you out! We are one of the leading e-learning service providers for corporate training and academic learning. We provide cost-effective services and 100% client satisfaction. We are available 24*7 and ensure to deliver services on time!
