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Quick Summary: eLearning trends don’t seem to be slowing down anytime soon. The continuous expansion of the online education market has created a broad picture for every industry. This is what we are going to talk about in this blog with facts and numbers. Let’s read some interesting facts and statistics about online learning.
eLearning is becoming more and more popular with every passing year. It’s already a multi-billion-dollar industry, with the global eLearning industry expected to reach $1 trillion in valuation by 2032. In fact, if we consider today’s scenario, then the global eLearning market size is $399.3 Billion.
Many learning institutions, corporate organizations, and non-profits are shifting towards online education. And that makes the learning experience more accessible. Whether graduate students or corporate learners, eLearning methods are found easier to pursue higher education and upskilling trainings.
However, this doesn’t mean that online education doesn’t have hurdles to overcome. Keeping online students engaged has always been a challenge. Despite these challenges, we have found some facts and data that show the rise of eLearning.
And in this post, we are going to talk about the most interesting facts and statistics of eLearning you need to know in 2024.
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Let’s go through the evolution of the global eLearning market based on segmentation between 2019 and 2026.
Learning Management Software (LMS) and authoring tools are the two most popular types of software used for eLearning. Although their constant growth can occasionally make a buyer’s decision more complex, there’s still an option to suit every preference and price range.
Let’s go through the eLearning statistics 2024 for software and tools.
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Corporate training and development is one of the most important resources for eLearning. Here, we have noted down some amazing statistics for 2024 about corporate LMS.
By 2026, the corporate eLearning industry is expected to be worth $50 billion.
The corporate eLearning industry is anticipated to expand by 15% a year, primarily due to corporate use of eLearning.
82% of businesses undertake at least some of their compliance training via eLearning.
In 2018, a training magazine published industry research showing that more than half of firms offered some or all of their compliance training online, with 28% doing it entirely.
Addressing skill or knowledge gaps is one of the top three L&D priorities of 29% of the respondents in 2023 as per Learning at Work 2023 survey.
38% of respondents expect the use of digital or online solutions to increase in the next 12 months and 29% expect its investment to increase.
demand remains at an all-time high, with 85% of L&D professionals reporting an increase in requests for digital learning.
Over half of the organizations surveyed by Brandon Hall Group highlighted that their approach to L&D was critical to employee retention and becoming a market leader.
While eLearning can be used for many things in business settings, the most common application is closing knowledge gaps among employees. This is the primary application of eLearning in the workplace, according to 62% of businesses.
Worldwide, 44% of workers think e-learning is an effective way to learn.
According to the survey, several in-person and virtual learning environments are more beneficial than this one, including:
However, there are some employees who believe that eLearning is more helpful than:
67% of businesses provide smartphone e-learning.
Businesses are starting to design training programs that can be used on mobile devices.
93% of businesses worldwide intend to adopt online learning.
Companies that do not currently have online knowledge will include online education into their business strategy in order to assist staff members in developing new skills and upskilling current ones. Are you one of them too!? Adopt online learning in 2024.
On average, 42% of businesses that use eLearning generate higher income.
Adopting eLearning could be a great way to generate high income in 2024. The utilization of online learning platforms by nearly half of businesses results in increased revenue, which boosts overall business revenue. Companies that use e-learning generate higher returns than those that don't—more than 4 out of 10 times.
Between 2017 and 2026, corporate eLearning is projected to increase by more than 250%.
The corporate e-learning market size is forecasted to rise at a CAGR of 14.3% during 2024 - 2028 to reach a market value of $153.41 bn. The ease of learning, affordability, accessibility, and rising internet user numbers are the main drivers of this market's rapid expansion.
IBM saved over $200 million by switching to online learning.
Businesses can cut expenses related to travel, lodging, flat rentals, equipment, teachers, and other expenses. Upon considering all of these costs, it becomes more evident how a business or institution such as IBM is able to make such substantial financial savings.
Employee engagement can rise by up to 18% with e-learning.
By providing e-learning courses for professional development, you can increase your employees' sense of worth and create avenues for career advancement in 2024. Better workplace morale and decreased staff turnover are the outcomes of this increase in employee engagement.
According to 72% of organizations, eLearning gives them a competitive advantage.
Businesses think that by upskilling their staff, they can stay ahead of the competition and keep up with the rapidly evolving technologies. So, why not give your business that edge in 2024!?
The market for corporate online learning is projected to reach $50 billion by 2026.
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eLearning has made a huge impact in the academic world as well. Here are some academic eLearning statistics for schools and higher education.
Around 64% of middle school children in the USA use digital learning tools every day.
Even though college students are often associated with eLearning, younger age groups also increasingly use digital learning tools. Every day, 64% of middle school students use some kind of educational technology. In primary schools, this percentage is marginally lower at 45%.
43% of students think that eLearning tools are beneficial for homework and studying.
About half of students say that they find e-learning resources to be of great assistance in finishing their assignments and studying outside of the classroom.
StuDocu is an example of an e-learning platform; students may obtain a wealth of free educational materials from them to assist with notes and course work.
81% of students said that using eLearning tools helps them get better marks.
Similarly, eLearning resources are turning out to be crucial in assisting students in maintaining the appropriate level of their grades. More than half of students say that e-learning is crucial to their ability to raise and keep their grades.
For online courses, student retention rates range from 35% to 60%.
Compared to in-person classes, online courses have substantially lower dropout rates. The student retention rate for in-person courses is approximately 10%. For eLearning courses, the average retention rate is nearly three times higher.
After the pandemic, 46% of students said they would like to complete some or all of their coursework online.
2020 was a fantastic year for the education sector. Many students favored the change, and less than half said they would like to continue taking courses online until things get back to normal.
Online learning trends are rapidly growing. The majority of countries and institutions have created online education sectors that can be emulated in other places.
Let’s understand the overview of online learning trends and statistics for 2024 -
Online learning has left a huge impact globally, and every industry from all locations is taking full advantage of it.
Let’s read the latest online learning stats for 2024 by country.
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By going through the above facts and stats about the eLearning market industry, we can predict that there are many things we can see in the future as far as the eLearning industry is concerned. Let’s read what the future of eLearning holds.
Implement eLearning with RadixwebeLearning is a wide spectrum and has become an integral part of many institutes, companies, and schools. As a result, eLearning has made learning easier, smoother, and accessible for students and professionals, which was quite difficult just a few years ago.The interesting eLearning statistics and facts above have proved that online learning is the future of today’s educational landscape. To leverage this immense potential, partnering with a top-notch education software development company is crucial.And if you are planning to be part of this online learning journey, connect with Radixweb. You can leverage our 25+ market-tested EdTech solutions with end-to-end assistance. Want even more interesting technologies-related statistics and facts? Check out Software Development Statistics 2024, IT Outsourcing Statistics for 2024, and NodeJS Statistics for 2024 from Radixweb’s Facts and Figures library.
Chirag is a skilled Technical Innovator known for his expertise in building robust and scalable applications. With 9 years of tech experience and a wealth of knowledge in Angular, Dot net core, Web API, MVC, C#, Linq Entity Framework, jQuery, Javascript, and MSSQL, Chirag consistently delivers high-quality solutions. His strong analytical skills and ability to collaborate effectively with cross-functional teams make him a trusted leader in delivering successful projects.
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