Today’s educational landscape is going through a revolution unlike any we’ve ever seen before. The e-learning industry growth statistics aren’t showing any signs of slowing down, and the corporate e-learning sector is expected to grow by as much as $38 billion from 2020 to 2024. The largest EdTech companies such as Coursera are already valued at well over $1 billion, and they will be the driving force of the entire online education industry.
Not all types of e-learning are showing growth, and some are even declining. Statistics on the self-paced e-learning market, for example, reveal a steep decline of 6.4% or more per year. That is despite both employees and students reporting self-paced instruction as one of the key motivators to use e-learning.
Corporations will be one of the biggest drivers of the e-learning industry during this decade, with companies spending increasingly larger percentages of their learning and development budgets on online learning. Coursera, an online education provider valued at well over $1 billion, is the enterprise choice of customers such as Adobe, Procter & Gamble, and L’Oreal. In 2019, they partnered with the Abu Dhabi School of Government to train 60,000 government employees in digital skills.
The global corporate e-learning market size will be worth $50 billion by 2026. With an annual growth rate of 15% from 2020 to 2026, the corporate market will be one of the biggest drivers of the e-learning industry. Business Wire
90% of corporations now use e-learning compared to just 4% in 1995. KPMG, LinkedIn
With corporate e-learning, IBM managers were able to learn five times more content at one-third of the cost. As a result, IBM saved $200 million, which accounted for around 30% of their previous training budget. IBM