Corporate e-Learning Market Size to Grow USD 44.6 Billion 2028 at a CAGR of 10.5% | Valuates Reports
- The global E-Learning VR Market size is projected to reach USD 300.3 Million by 2028, from USD 65 Million in 2021, at a CAGR of 23.8% during 2022-2028.
BANGALORE, India, June 29, 2022 /PRNewswire/ -- The Global Corporate eLearning Market is Segmented by Type (Cloud, On-Premise), by Application (Automotive Industry, BFSI, Healthcare, Consumer Goods Sector, Energy Sector, Heavy Industries, Metal and Mining, Industrial Equipment): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Education Category.
The global Corporate E-learning market size is projected to reach USD 37160.40 Million by 2026, from USD 17245.65 Million in 2019, at a CAGR of 10.91% during 2020-2026.
Major Factors Driving the Growth of the Corporate e-Learning Market
The rising demand for e-learning in end-user industries like BFSI, mining, industrial equipment, automobile, energy, consumer goods, and heavy industries will drive the growth of the market.
Corporate e-learning saves organization of money, reduces learning time, enables skill development, employee retention, allows for global collaboration, and empowers employees to study at their convenient timing.
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TRENDS INFLUENCING THE GLOBAL CORPORATE E-LEARNING MARKET
E-learning-based training tools not only instruct but also allow simultaneous assessment and report generation. Edits can be made quickly and shared easily with multi-device access. Moreover, regulatory compliance can be taught easily with interactive infographic-based content that evokes more interest and improves engagement levels thereby solving many of the issues faced by BFSI companies. These factors will boost the growth of the corporate e-learning market during the forecast period.
The workings of heavy industrial machinery are complex. It has to remain in good operating condition for building end-user products. Employees need to have intensive knowledge of vital manufacturing processes. Online scenario-based learning and gamification cover important operating procedures in an entertaining manner thereby boosting knowledge. This will surge the growth of the corporate e-learning market in the upcoming years.
Workers in heavy industries have to be involved in multiple on-site duties. In such cases, e-learning is beneficial as it fits right into employees' busy schedules. The training can be provided across multiple locations simultaneously without hampering their productivity. This in turn will boost the growth of the corporate e-learning market in the subsequent years.
E-learning is a cost-effective solution for workers handling pressured environments in mines. Safety, health, quality, and environment training is imparted consistently to all learners. Training manuals can be updated in real-time fostering an easy learning experience. These will positively impact the growth of the corporate e-learning market during the forecast period.
Consumer goods companies need to build strong lasting relationships with their customers and supply chain partners. E-learning ensures key information related to quality standards, product information, and sales, and marketing strategies are offered in precise byte-sized modules for learning on the go. Online learning tools promote global collaboration amongst employees from different departments or geographic locations to contribute directly through the training module itself. Such factors will fuel the growth of the corporate e-learning market in the forthcoming years.
Thanks to the prevalence of the internet, eLearning tools can be used without any cost. Virtual simulations of car parts can be taught directly to employees located across the globe. Graphics and 3D animations accurately illustrate the complex working of different models and shapes of vehicles. Technical and non-technical content is made available from subject matter experts easily with quick access. All these factors will propel the growth of the corporate e-learning market in the upcoming years.
In the oil, gas, and energy sector workers are always mobile as oil exploration sites are present in remote locations where travel is common. Furthermore, people are multilingual, making traditional learning useless. In such cases, e-learning helps organizations adapt quickly to every individual learner's needs without putting brakes on upskilling. This in turn will drive the growth of the corporate e-learning market during the forecast period.
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CORPORATE E-LEARNING MARKET SHARE ANALYSIS
Based on region, North America will grow the highest in the corporate e-learning market share while Asia-Pacific will grow at the fastest CAGR due to increasing penetration of the internet and widespread use of mobile devices.
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Key Companies:
- 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
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