4 Insightful Projections for corporate elearning platforms in 2024
In today’s corporate world, many organizations consider eLearning important because it enables them to deliver standardized training to remote teams. Companies are also focusing on eLearning strategies because it’s tough to schedule classroom training, especially when employees have different work schedules. According to Shift eLearning, the eLearning space is expected to reach US $ 33.2 billion in 2025.
Eager to know about the future of corporate eLearning? Read this article to know more about the trends in corporate eLearning platforms. Through this article, you will also know how the government is supporting the eLearning market.
Market Size and Future Projections for Corporate eLearning Platforms
With time, many organizations will witness a hike in the use of eLearning platforms. According to market insights by Sky Quest, the size of the corporate eLearning market is predicted to grow to US $ 796.96 billion by the year 2031. The significant use of mobile devices and the internet is one of the factors that’s driving the growth. Moreover, companies will set new standards for corporate learning as they leverage advanced technologies. While the shift to online learning seems imminent, industries will also offer a personalized learning experience through different techniques. Cloud-based systems will also offer more flexibility for industries in accessibility and content processing. eLearning will also prove to be cost-effective as organizations continue to use cloud learning platforms.
Let’s check out how the innovations in technology will have a positive impact on the eLearning experience.
Innovations in Technology
In recent years, innovations in technologies have transformed the ways in which people learn. Here are some innovations that are revolutionizing the domain.
Artificial Intelligence (AI) and Machine Learning (ML)
Through relevant data analysis, AI has helped to offer personalized learning experiences. ML algorithms have also helped adaptive learning platforms dynamically adjust eLearning content curation based on the learner’s progress.
Virtual Reality (VR) and Augmented Reality (AR)
By enabling learners to interact with 3D environments, VR makes the learning experience immersive on corporate eLearning platforms. Individuals are also able to understand complex subjects with ease. In contrast, when digital content is overlaid onto the actual world, AR helps create an interactive learning experience.
Cloud Computing
With the use of a cloud-based learning management system (LMS), educators can deliver training content with a scalable infrastructure. The technology also supports collaboration between the trainers and learners. Besides content sharing, learners can also access various resources through an internet-enabled device.
Blockchain for Certifications
Blockchain has recently served as a tool to ensure the authenticity of certificates. For example, the technology can confirm whether the individual has actually attended online training. Learners can also securely share their accomplishments with others due to the technology.
Social Learning
With the integration of social media and various tools, learners can use the eLearning platform for interaction and sharing knowledge. Social networks and discussion forums are also leading to a collaborative learning experience.
Mobile Learning (mLearning)
Due to the use of smartphones, eLearning content is accessible with just a few taps. As a result, acquiring new skills is no longer limited to physical classrooms. Individuals can go through eLearning courses at their own convenience.
In the end, the incorporation of gamification into custom eLearning solutions has helped enhance the retention rate.
User Statistics and Future Trends in Corporate eLearning Platforms
As per a report, ProsperityForAll states that more than 70% of students in the USA would prefer online classes. This trend has prevailed even after the pandemic. Moreover, organizations will continue to launch eLearning courses even after the lockdown has been lifted.
According to research by the World Economic Forum, more than 20 million students registered for online courses on Coursera in 2016. But, with the norm of remote working, the number had risen to 71 million in 2020. In 2021, the number of registrations on corporate eLearning platforms had further increased to 92 million.
With the upward trend of online learning, the eLearning industry will grow in the forthcoming years. This is evident from the prediction that more than 70 million people in the US will be using eLearning platforms by 2027.
eLearning is bound to grow at a CAGR of 14% by the year 2032. This seems inevitable, as per the report by Global Market Insights. The corporate eLearning space is also likely to grow by almost 142% between 2021 and 2026.
Omnicore also reveals that mobile learning will be one of the markets that will grow rapidly at an annual rate of 23%. Mobile learning is also likely to reach US $ 80.1 billion by the year 2027.
A market analysis report also states that the eLearning market across the US is predicted to reach US $ 1169.98 billion by 2030. People will observe the growth at a CAGR of 12.50% between the years 2023 and 2030.
Government Policies and Initiatives Impacting eLearning
Government policies and initiatives are truly playing a significant role in shaping the eLearning space. Here are some ways in which the policies are impacting eLearning.
Digital Infrastructure Development
By investing in digital connectivity, the government is ensuring widespread access to eLearning platforms. Initiatives like digital literacy programs are also aiming at enabling equitable access to education. In November 2023, the ASEAN Foundation managed to launch its digital literacy eLearning platform with the support of Google.org.
Funding and Subsidies
To support the development of eLearning initiatives, the government has been offering grants and subsidies. Such financial support is helping organizations embrace eLearning. The support is also helping learners access a range of online resources.
Regulation and Standards
Apart from digital infrastructure development, governments are also establishing standards and regulations for eLearning platforms. This will not only ensure accountability but also quality. These may include standards for certification and guidelines for structuring the courses on corporate eLearning platforms.
Support for Open Educational Resources (OER)
As governments are promoting the use of OER, these resources can be used and shared with ease. Various policies are also encouraging trainers to create OERs to expand educational opportunities.
Eventually, governments will prioritize eLearning for skill development and training professionals. This will enhance the opportunities for professionals to seek jobs in renowned organizations. The initiatives will also focus on upskilling workers in industries that will be undergoing digital transformation. In July 2024, the Indian High Commissioner to Ghana, Mr. Manish Gupta, started working with the government to support eLearning initiatives in Ghana.
Final Thoughts
From the above, it seems evident that innovations and government support will lead to a drastic transformation in the education sector. As individuals pursue learning through eLearning courses, emerging technologies will also make the learning experience quite immersive.
Are you thinking about launching eLearning courses for the development of your workforce? Well, you could connect with the development team at MITR Media.
As part of our custom eLearning content development services, our instructional design team works closely with your team to develop an incredible learning experience. By leveraging design thinking skills and instructional expertise, you can also create an impact for skill development training programs.
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