The $150 billion eLearning market will grow at a rate of over 5 percent annually between 2017 to 2024, according to a report by Global Market Insights. This way the valuation will hit a valuation of $200 billion by 2024.
These are the five reasons why eLearning will continue to grow:
- The number of students who prefer a blended learning environment has increased while the number of students preferring a face-to-face only learning environment has continued to decline.
- A majority of faculty will experiment with online learning over the coming years.
- Learning management systems, especially those built around strong data analytics, will continue to be embraced by administrators. LMSs are becoming the eyes of higher ed institutions for vital data.
- Many nations in the developing world are now looking to eLearning as a solution to the limited access to higher education. Global markets are therefore expanding.
- Tech companies are increasingly interested in partnerships with higher ed institutions and are accordingly moving into the education business.