The E-Learning Market is poised to grow at a CAGR of around 7.2% over the next eight years.
Many people don’t know the opportunity that lies before them with regards to this industry. But facts are facts: this market is enormous and is expanding in a BIG way.
It makes sense when you think about it. People are foregoing traditional methods of learning due to the benefits of e-learning, which includes convenience and cost savings. Organizations are realizing the same and opting for e-learning initiatives instead of live training events.
To give you an idea of the growth that has been occurring, back in 2010 the market size was roughly $32 billion. Not too bad in its own right. However, by 2015 that soared to roughly $107 billion.
Today, it is projected that by 2025 it will reach… (wait for it)… $325 billion!
Are you excited yet? I hope so, because in a market this size there is certainly enough room for you!
The e-learning industry has various sub-markets that are driving the growth. If you are wondering how you can enter into this field then consider some of these niches.
- MOOCs in Corporate Training
- Mobile Learning
- Learning Management Systems
- Online Corporate Training
- Learning Technologies
- Authoring Tools
- Instructional Design
Each one of these could be broken down into smaller markets as well. For example, if you entered the LMS market then you could tailor your offering to a specific niche, such as an LMS for healthcare organizations.
The fact that the e-learning industry is growing so rapidly is one reason we are seeing major corporations invest into it so heavily. The perfect recent example of this is LinkedIn’s purchase of Lynda.com.
Does this mean that traditional classroom and live training initiatives will go extinct? Absolutely not – those will always play a dominant role. E-learning will supplement these tried and true methods.
But make no mistake: we are seeing a shift in the way people prefer to learn. The conveniences afforded by mobile learning, micro-content, xAPI, and other technologies (for both content creators and consumers) represents a paradigm shift in education.