E-Learning Market Size Surpassed $315 Billion In 2021 And Projected To Hit 20% CAGR From 2022 To 2028
August 23, 2022 at 08:30 AM EDT
Palm Beach, FL – August 23, 2022 – FinancialNewsMedia.com News Commentary – The COVID-19 pandemic has actually caused certain markets to thrive, in fact it had a positive impact on the e-learning industry revenue. The growing employee safety concerns have encouraged corporates to implement work-from-home practices to continue daily operational activities. This has created barriers for companies in terms of training, communication, monitoring progress, and upskilling, supporting the demand for e-learning platforms among large enterprises and SMEs. To cater to the growing demand, several companies are focusing on developing customized learning solutions. For instance, in April 2021, LinkedIn Corporation announced its plans for an online portal designed for enterprises to provide their staff with training videos & materials on subjects such as management strategy and machine learning. A report from Global Market Insights said that the E-Learning Market size surpassed USD 315 billion in 2021 and is projected to observe 20% CAGR from 2022 to 2028. The report said: “The rising internet penetration across the globe will drive the industry growth. The expanding telecom & broadband sector has increased the accessibility to economical internet connectivity plans. According to the International Telecommunication Union (ITU) in 2021, nearly 4.9 billion individuals used the internet globally compared to 4.1 billion in 2019.With the increasing number of internet users, more people will be able to access e-learning platforms for learning courses or completing degrees.” Active Tech Companies in the markets today include: Amesite Inc. (NASDAQ: AMST), PowerSchool (NYSE: PWSC), Nerdy Inc. (NYSE: NRDY), Duolingo, Inc. (NASDAQ: DUOL), Coursera (NYSE: COUR).
Global Market Insights continued: “The education sector is evolving globally, creating growth opportunities for the e-learning market. Several education institutes, are transitioning to an online higher education curriculum to support students in completing their degrees. E-learning platforms for higher education have helped overseas students in completing their education from home, saving time and money. In addition, it offers flexible learning options, a dynamic learning process, and seamlessly tracking of progress. It concluded: “The North America e-learning market size valued at USD 120 billion in 2021 and will grow steadily through 2028 due to increasing investments in the IT infrastructure. For instance, in November 2021, the U.S. government passed the Bipartisan Infrastructure Law, an Infrastructure Investment & Jobs Act. Under this act, authorities have allocated nearly USD 65 billion to ensure that the American population has access to reliable high-speed internet. The robust cloud computing industry attributed to the presence of players, such as Microsoft Corporation, Amazon Web Services, and IBM Corporation, will boost the cloud-based e-learning demand.”
Amesite Inc. (NASDAQ: AMST) BREAKING NEWS: Amesite Announces Partnership with Central Michigan University to Deliver a Complete Upskilling Solution – Amesite Inc., a leading artificial intelligence software company offering a cloud-based learning platform and content creation services for business, university, non-profit, and government agency learning and upskilling, announces it has partnered with Central Michigan University (CMU) to deliver a complete Enterprise Learning Community EnvironmentÒ (LCESM).
CMU’s LCESM will deliver everything from first outreach in marketing to learner enrollment to certificates of completion – in one streamlined system – allowing CMU to expand partnerships with business, industry, and community organizations to identify and address employee skill gaps, as well as support upskilling needs of their expansive alumni market. The best-in-class, AI-powered LCESM will have vast capabilities including an online content system and payment solution – all accessible from the CMU website.
Dr. Elizabeth Kirby, Vice President of Innovation and Online at Central Michigan University stated, “CMU has been a leader in distance education and online learning for more than 50 years and continues to adapt to emerging trends to meet student needs. Amesite was the obvious choice in terms of technology and services. Their sophisticated LCESM delivers the power and ease of use we require to reach hundreds of thousands of learners around the world.” Darcie Wilson, CMU’s Executive Director of Innovation and Portfolio Management added, “We are thrilled to partner with Amesite to execute this massive transition to a complete digitalized learning experience. This partnership is just the beginning for CMU as we expand non-credit courses, training, and workshops to meet the needs of adult learners seeking to upskill or reskill throughout their careers. We trust Amesite’s ability to quickly scale and provide the outstanding experience the University needs for its learners.”
Amesite Founder & CEO, Dr. Ann Marie Sastry commented, “We built our V5 platform to meet partnership needs and expectations of this magnitude and scale. Our solution now solves problems out-of-the-box for Higher Education institutions, Museums, and Businesses – and ultimately positions us to win business that is sustainable and repeatable. We are grateful for this partnership with Central Michigan University and look forward to helping them and many other organizations make a great impact globally using our eLearning platform.” CONTINUED… Read this full release for Amesite at: https://ir.amesite.com/
Other recent developments in the tech industry include:
PowerSchool (NYSE: PWSC), the leading provider of cloud-based software for K-12 education in North America, recently announced School of Dreams Academy (SODA) in Los Lunas, New Mexico added PowerSchool Unified Talent, PowerSchool Unified Classroom® Special Programs, and PowerSchool Ecollect Forms, to its existing PowerSchool solutions. SODA is expanding its system of unified solutions to enhance instruction and learning after utilizing PowerSchool Student Information System (SIS), Naviance by PowerSchool, and PowerSchool Enrollment for years.
“Having reliable data allows us to make critical decisions in budgeting, talent acquisition, and educational programming,” said Paul Howard, Special Services Director, School of Dreams Academy. “PowerSchool has created accountability, greater access, and more learning across our academy. We went from printing out PDFs and spreadsheets that we put into binders, to having our forms sent out instantly. With PowerSchool solutions the school district has become more proactive, and our reaction time has increased tremendously.”
Nerdy Inc. (NYSE: NRDY), developer of Varsity Tutors, the popular online tutoring platform used by students from elementary school through college and adulthood, recently announced that it is adding immersive coding classes to its fast-growing library of academic and enrichment programs. The acquisition of Codeverse, an award-winning creative online platform where kids build apps and games with real code, will enable Nerdy to meet the growing demand for computer science and coding education with consumers and in schools.
Varsity Tutors is adding immersive coding classes to its fast-growing library of academic and enrichment programs through the acquisition of Codeverse, an award-winning creative online platform where kids build apps and games with real code.
Duolingo, Inc. (NASDAQ: DUOL), the world’s leading mobile learning platform, recently announced results for the second quarter ended June 30, 2022 in a shareholder letter that is posted at investors.duolingo.com.
“Our second quarter results exceeded expectations, driven by accelerating user growth and strength across our entire business,” said Luis von Ahn, Co-Founder and CEO of Duolingo. “I’m very proud that we delivered over 50% growth in bookings and revenue from the prior year quarter, despite a challenging macroeconomic environment. We see this growth as a result of our relentless focus on constant product improvement. Through continuous experimentation, we are driving organic growth, deeper user engagement, and stronger free-to-paid user conversion.”
Coursera (NYSE: COUR), one of the world’s largest online learning platforms and Skillsoft, a leading platform for transformative learning experiences, recently announced a new integration partnership with . The integration will enable the companies’ joint customers to access Coursera for Business’ more than 5,000 courses, 300 SkillSets, and 10,000 bite-sized Clipsdirectly within Skillsoft Percipio, creating an immersive and seamless skilling experience and reducing the need for multiple learning platforms in the enterprise.
Recent research conducted by Skillsoft and IDG found that 83 percent of decision-makers have identified training and development as a critical priority within their organization. However, when selecting a learning partner, the same respondents noted challenges with finding training programs that are comprehensive enough for all of their requirements and needing deeper learning libraries applicable for the entire organization. Blending premium, original content and a broad ecosystem of learning partner content, which now includes Coursera, Skillsoft provides access to the right curricula wherever skill development is needed and across all modalities learners seek to engage via a single, unified platform.
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