ELearning Market Exploding in China
We hear a lot today regarding the growth of elearning across the world. It’s no secret that elearning is getting a lot of attention given all of the benefits it possesses.
One of the major reasons elearning is on the rise is because it offers an opportunity to certain market segments that traditionally were not served in the education sector.
As platforms like Coursera have shown us, elearning broadens the reach of traditional academic institutions. This makes it possible for people across geographic regions to take courses at the own convenience (although there are some inherent challenges with MOOCs, particularly their completion rates).
In addition to traditional education, many startups have entered the elearning space because they now have a broader customer market. This emerging innovation is put on display in China.
Asia in general has been a fast growing segment of the elearning market, and China is leading the way.
As the infographic below shows (created by Edufraction.com), China is adopting elearning at a tremendous rate. By 2018, the elearning market in China alone is predicted to be $5.9 billion!
The country is seeing a rise in the number of MOOCs as well as companies that are selling online courses (such as study solutions for standardized tests).
China is positioned to be one of, if not the largest elearning consumers in the world. In terms of what this means for the industry overall, I think it will result in quite a bit of innovation, especially given the massive number of users in the country.