Corporate E-Learning Market revenue to cross USD 450 Bn by 2028: Global Market Insights Inc.
Global Market Insights, Inc
5 min read
Global Market Insights, Inc
Major corporate e-learning market players include Cegos, Cornerstone, Crossknowledge, Hive Learning, Infopro, Intuition, Kallidus Ltd., Kineo, Learning Pool, Media Zoo, and others.
Selbyville, Delaware, May 11, 2022 (GLOBE NEWSWIRE) --
The corporate e-learning market size is expected to record a valuation of USD 450 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth can be attributed to an increasing focus of corporates on upgrading their training programs.
The e-learning technology market will witness growth during the forecast timeframe, which is credited to its ability to upskill the staff at a faster pace. The technology cuts down cost & time, thus providing equally effective learning courses for the employees. The technology is useful for SMEs as it diminishes the number of SME touchpoints in eLearning development and design. Several companies are offering software & services and converting PowerPoint presentations, PDF manuals, online training videos, or any other digital training material into interactive eLearning opportunities. The flexibility offered by the technology in terms of translating data into training content will fuel its adoption and drive the corporate e-learning market progression.
The increasing implementation of corporate e-learning solutions across large organizations will propel the corporate e-learning market demand. Businesses use this technology to simultaneously provide in-demand learning courses to their employees. For instance, in May 2021, Udemy announced that large enterprises including Carbon Health, Novant Health, Nasdaq, and RSA Security utilized its Udemy for Business platform for training purposes. In October 2020, Udemy for Business surpassed from USD 1 million to USD 100 million in annual recurring revenue in five years. This indicates the growing demand for corporate e-learning content & solution across the globe.
To enter the evolving e-learning market, several ventures capitalist are funding promising start-up players. For instance, in July 2021, Go1 raised around USD 200 million in a Series D round. It was co-led by AirTree Ventures, Vision Fund 2, and Salesforce Ventures with Vision Fund 2, TEN13 & Larsen Ventures. The funding will support the company in enhancing its online learning tools and materials portfolio. It will also help the company in expanding its existing market base. The development of service providers will boost competition across the industry, leading to technological advancements.
The growing acceptance of Industry 4.0 in Asia Pacific will foster the corporate e-learning market. Several manufacturing industries are integrating advanced technologies, such as AI, robotics, cloud computing, and IoT, for improving the efficiency of their operational activities. Rapid advancements in the existing manufacturing infrastructure will encourage the industry leaders operating in the market to use online learning platforms to train their work staff with interactive learning courses, thus accelerating the industry growth.
Major participants operating in the corporate e-learning market are Cegid, Cegos, Cornerstone, Crossknowledge, Hive Learning, Infopro, Intuition, Kallidus Ltd., Kineo, Learning Pool, Learning Technologies Group plc (LTG), Media Zoo, Mind Tools, Netex, NIIT Corporation, Omniplex, and Skillsoft.
Some major findings of the corporate e-learning market report are:
The increasing demand for corporate e-learning from different industries, such as BFSI, healthcare, and manufacturing, will stimulate the industry expansion. The solutions enable organizations in training their employees and enhance their skill sets.
Growing investments by market players in introducing advanced solutions will proliferate the industry demand.
Rising content availability in multiple languages will support employees facing language barriers in terms of completing courses for career development, thus increasing the total user base.
Rising assistance from government authorities in financially supporting start-ups will encourage new companies to enter the corporate e-learning market. This will augment competition in the industry, leading to technological innovations and affordability of solutions and resulting in market expansion.
The decreasing employee training cost is fueling the demand for corporate e-learning solutions. They support them in reducing overall operational costs and rising the organization profitability.
Table of Contents (ToC) of the report
Chapter 3 Corporate E-Learning Market Insights 3.1 Introduction 3.2 Impact of the coronavirus (COVID-19) pandemic 3.3 Ukraine-Russia war impact 3.4 Industry ecosystem analysis 3.5 Technology & innovation landscape 3.5.1 Evolution of corporate e-learning 3.5.2 Flipped classroom 3.5.3 Augmented Reality (AR) and Virtual Reality (VR) technology 3.5.4 Artificial Intelligence (AI) and Machine learning (ML) 3.5.5 Online e-learning 3.6 Regulatory landscape 3.7 Industry impact forces 3.7.1 Growth drivers 3.7.1.1 Increasing R&D to improve the features of the e-learning tools in North America 3.7.1.2 The developing IT & telecom infrastructure across Europe 3.7.1.3 Rising content digitization of data in Asia Pacific 3.7.1.4 Increasing penetration of the internet and mobile learning in Latin America 3.7.1.5 Growing demand for e-learning solutions from the MEA manufacturing sector 3.7.2 Industry pitfalls & challenges 3.7.2.1 Lack of peer-to-peer interaction 3.7.2.2 Slow internet connection and poor network in developing and underdeveloped regions 3.7.2.3 High initial investment cost & cybersecurity threats 3.8 Growth potential analysis 3.9 Porter’s analysis 3.10 PESTEL analysis
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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