E-learning is a prime method of upgrading existing skills and gaining new knowledge for staying relevant in enterprises. Companies of all sizes are planning to look towards e-learning as a medium for keeping teams updated with the current demands of clients globally. Forms of e-learning are webinars, podcasts, articles, and videos. The global corporate e-learning market report collated by analysts at Market Research Future (MRFR) contains gems and novel insights on the functioning of the industry and analyses various upcoming trends and its potential for the period of 2017 to 2023 (forecast period).
Competitive Outlook of Corporate E-Learning Market:
Digital Ignite, CERTPOINT Systems, GeoMetrix Data Systems Inc., Oracle, SAP, Infor, 24×7 Learning, SkillSoft Corporation, Blatant Media Corporation, and Adrenna are major corporate e-learning companies currently operating in the market.
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The COVID-19 pandemic and its implications are also explored with strategies for handling it during the forecast period. Technological innovations, user-centric strategies, and wide scope of cloud are gamechangers of the industry and discussed in high detail in the report.
The global corporate e-learning market size is estimated to grow up to USD 30 billion at 13% CAGR through the forecast period. Emphasis on employee learning in high-risk industries and strict compliance guidelines are predicted to drive the market demand. Employers are increasingly spending on niche trends and new skills to raise the level of employees and drive the productivity and profit ratio in the long run. This leads to low attrition among employees and their loyalty towards employers grows.
Sharp rise in online conferences and webinars for discussion of new technologies and skills can induce heavy demand in the global corporate e-learning market. Investments in learning management systems as well as access to smart devices and lightning-speed Internet can bode well for the market. Rise of edtech unicorns and changes in style of learning by employees will fuel the market to new heights by 2022.
The COVID-19 pandemic has led to restriction of movement and encouraged operating from home. This has led to companies declaring work from home (WFH) for their employees for their safety during the pandemic. Online learning websites and massive open online course (MOOC) platforms have seen a swift increase in usage during the period as employees make use of the time to sharpen their skills and contribute to their work eventually.
However, lack of awareness among small and medium enterprises regarding LMS and LCMS can impede market growth.
The global market for corporate e-learning is segmented on the basis of technology and training type.
On the basis of technology, it is further classified into learning management system (LMS), learning content management system (LCMS), web based, mobile e-learning, podcasts, virtual classrooms, and others.
On the basis of training type, it is segmented into instructor-led, text based, and outsourced.
The corporate e-learning market in North America is expected to grow considerably during the forecast period. This is due to the growing advances in technological infrastructure and increasing investments from major organizations and e-learning vendors in launching innovative solutions and systems for digital learning.
Increasing popularity of self-paced and competency-based e-learning among employees is expected to boost the growth of the market in the European region. Partnerships by online learning platforms with large companies for upskilling employees can bode well for the market in the region. Adoption of corporate learning solutions by small and medium companies and emergence of distance learning can fare well for the market.
APAC is expected to witness the fastest growth in corporate e-learning market owing to rising number of organizations opening their businesses in the emerging economies of this region.
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