Future of e-learning

E-learning market has always managed to excite onlookers over the years by introducing new technologies and enhanced delivery mediums every now and then to keep up with the digital advancements and rapidly changing training needs.

This revolution started with the introduction of CBTs, moved on to WBTs and now the focus is more on LMS with a vast pool of providers targeting on creating online catalog of courses on wider range of topics.

So how is the future of e-learning? With this economic recession, will it still be a hit in boosting the revenue of Indian companies?

Future of e-learning seems to be very bright. The e-learning market size has grown ten-fold since 2000 and the current e-learning global market size is over $20 billion. According to San Jose, CA-based market researchers Global Industry Analysts, the global e-learning market size is expected to surpass $52.6 billion by 2010.

Future of E-learning in Different Sectors
Corporations are constantly looking for innovative training methodologies and collaborative methods to engage their workforce in training. They are adapting new trends in learning, such as blended learning, virtual classrooms, Second Life with virtual learning environment, and e-learning 2.0 tools which allow podcasting, blogging and social networking.

In the higher education sector, it’s estimated that more computer-based learning or e-learning products will be used by students for competitive exam preparation. Though many new delivery systems have replaced the CBTs, they still have a good market and according to the CLSA Asia Pacific market report, CBT market size is around $150 million and is expected to grow to $750 million by 2012.

Apart from the corporate and higher education sectors, we can expect a tremendous growth in the K-12 e-learning market, especially with US focusing more on improving school education and using online courses to teach children. India gets around 10% of the current total market share from online tutoring, and will continue to grow in this segment. At present, the annual revenues for India from online tutoring is around $15 million and this industry is expected to grow at the rate 10-15% per annum. We can expect more small companies target online tutoring in the future.

As always Indian service providers benefiting from offshoring e-learning will continue to flourish. ValueNotes estimates a huge growth in revenue from the offshoring e-learning model. With a CAGR of 15%, the revenues of e-learning offshoring industry will touch $603 million by 2012.

Nasscom has pegged the growth rate of major players in the field to be the rate of 25% annually. With this growth rate, we can expect top players expand their e-learning business and this will open up greater opportunities for skilled workforce in India.

In short, e-learning market has a bright and promising future ahead!