According to recent research, the global eLearning market is growing at a CAGR of 18.2% during the forecast period 2023-28. With the rising penetration of the internet across the globe, and the flexibility & convenience offered by online learning, the demand for eLearning platforms has grown remarkably in recent years.
The E-learning industry presents lucrative business opportunities for entrepreneurs and building an e-learning platform right now would be a compelling business opportunity. In this article, we share insights about the eLearning industry and state reasons why you should invest in this industry right now.
But first, let’s explore the growth drivers.
Growth Drivers
- Technical advancements
- Cost-effectiveness
- Flexibility and convenience
- Government initiatives
- Global reach
- Impact of Covid
- Growing demand for personalized learning
- Rise of online certifications
Next are the popular segments in the eLearning industry.
Segments
- Academic
- Corporate Training
- K-12
- Language Learning
- MOOCs
- Hobby Courses
- Test Preparation
- Professional Certification
Regions across the globe where eLearning is flourishing.
Region
-North America
- The U.S.
- Canada
-Europe
- France
- The UK
- Spain
- Rest of Europe
-The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
– Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
Although, E-learning is growing tremendously around the world, but North America is expected to lead the market with the largest share in the coming years.
Some of the Key Players
- Coursera
- Udemy
- Skillshare
- Preply
- Cambly
- EdX
- FutureLearn
Why You Should Invest Now
- High growth potential: Statistics indicate that the eLearning industry is growing at a rapid rate with considerable potential for future growth.
- Earn maximum revenue: With an e-learning platform, you can avail diverse revenue-earning opportunities such as commissions, subscriptions, advertisements, and many more.
- Global reach and accessibility: Online platforms help you in breaking geographical barriers and offer you the opportunity to reach out to a global audience.
- Technology and platform development: With lots of development options available in the market, it has become easy to build and launch your eLearning platform.
- Increased demand for diverse learning options: Learners want to avail services as per their learning needs and are massively looking for diverse learning options such as one-to-one classes, group classes, self-paced sessions, and much more.
Overall, we can say, this industry is a lucrative domain for edupreneurs and education professionals, and now is the right time to step into this industry.
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Source: hometown-pages.com
