According to the Corporate E-learning report published by QY Research, the global Corporate E-learning market size is projected to reach US$ 37160.40 million by 2026, from US$ 17245.65 million in 2019, at a CAGR of 10.91% during 2020-2026.
E-Learning is learning utilizing electronic technologies to access educational curriculum outside of a traditional classroom. In most cases, it refers to a course, program or degree delivered completely online. The role of corporate training is to ensure an employee has the knowledge and skills to undertake a specific operation to enable an organization to continue to operate. Fundamentally, corporate training is centered on knowledge transfer. For example, conferences and workshops are an essential yet expensive part of business and e-learning makes it affordable and efficient – salespeople, for instance, can receive their training on new products and sales strategies online. E-learning can be translated to lower costs to deliver training in a shorter period of time, especially when employees are spread worldwide.
Global Corporate E-learning Market- Key Players
SAP, Skillsoft, Oracle, Blackboard, Cornerstone, GP Strategies, Saba, SAI Global, NAVEX Global, Infor, D2L Corporation, Articulate, Adobe, City&Guilds Kineo, CrossKnowledge, LRN, Expertus, EI Design are key players in the global corporate E-learning market. The market is fragmented. The top 5 players, SAP, Skillsoft, Oracle, Blackboard, Cornerstone hold about 23% market share globally. Most market is still occupied by numerous small and medium sized companies worldwide.
In a short period of time, markets and consumers’ behaviours have undergone drastic changes due to the outbreak of the coronavirus (COVID-19). From people raiding grocery store aisles to the cancelation of the world’s most significant events and mandates for “non-essential” businesses to temporarily close, this pandemic is having a substantial impact on the economy and society as we knew it. Also, it impacts the corporate E-learning industry. With the outbreak of COVID-19, many companies begin working at home. Activities, such as employee training in a meeting room also transfer to online. Demand of corporate E-leaning increases.
Online Learning is the Future of Education:
First, it is Flexible, Online education enables the teacher and the student to set their own learning pace, and there’s the added flexibility of setting a schedule that fits everyone’s agenda. As a result, using an online educational platform allows for a better balance of work and studies, so there’s no need to give anything up. Studying online teaches you vital time management skills, which makes finding a good work-study balance easier. Having a common agenda between the student and teacher can also prompt both parties to accept new responsibilities and have more autonomy.
Second, it offers many kinds of programs. In a space as vast and wide as the internet, there are infinite skills and subjects to teach and learn. A growing number of universities and higher education schools are offering online versions of their programs for various levels and disciplines. From music composition to quantum physics, there are options for every type of student. Studying your program online is also a great option for getting an official certificate, diploma, or degree without physically setting foot on a university campus.
Third, it is accessible, Online education enables you to study or teach from anywhere in the world. This means there’s no need to commute from one place to another, or follow a rigid schedule. On top of that, not only do you save time, but you also save money, which can be spent on other priorities. The virtual classroom is also available anywhere there’s an internet connection, and a good way to take advantage of this is to travel. For example, if you’re studying abroad and want to get a job, online education is a great choice. There’s no reason to give up on working or studying while exploring new and exotic places.
Fourthly, it allows for customized learning experience. We’ve mentioned before how flexibility can help you to set your own study pace. But online education is also flexible for each student’s individual requirements and level of ability.Online classes tend to be smaller than conventional class size. Most of the time, online learning platforms only allow one student at a time, and in almost all cases, this allows for greater interaction and more feedback between you and your tutor. There’s often access to very diverse material such as videos, photos, and eBooks online as well, and tutors can also integrate other formats like forums or discussions to improve their lessons. And this extra content is available at any moment from anywhere, which will offer you a more dynamic and tailor-made education.
Fifth, It’s more cost-effective than traditional education. Unlike in-person education methods, online education tends to be more affordable. There’s also often a wide range of payment options let you pay in installments or per class. This allows for better budget management. Many of you may also be subject to discounts or scholarships, so the price is rarely high. You can also save money from the commute and class materials, which are often available for free. In other words, the monetary investment is less, but the results can be better than other options.
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