The global e-learning market is estimated to be $ 165.36 billion in 2014 and is poised to grow at a compound annual growth rate (CAGR) of 5.08 percent, to reach $243.8 billion by 2022. Key factors that are favoring the market growth are flexibility in learning, low cost, easy accessibility, increased effectiveness by animated learning, escalation in number of Internet users, and growing access of broadband pooled with mobile phones with online capabilities. However, factors like change management, technology obsolescence and vendor-developer partnership are major restraints that are hindering the growth of this market.
While the United States leads the sales, Asia is the second largest market in e-learning products.
The most recent “Global E-Learning Market” report is segmented on the basis of Product, Vendors, Technology and Geography. On the basis of Product, the market is segregated into Academic e-Learning and Corporate e-Learning. On the basis of Vendor, the market is categorized into Content Providers and Service Providers. The market is segmented on the basis of technology into Learning Management system (LMS), Rapid e-learning, Mobile e-learning, Virtual classroom, Podcasts, Application simulation tool, Learning Content Management System (LCMS), Knowledge Management System and others. Global e-learning by geography is categorized into North America, Europe, Asia Pacific and Rest of the World.
The key players in the market are Adobe Systems Inc., Apollo Education Group Inc., Cisco Systems, Citrix, HealthStream Inc., McGraw-Hill, Microsoft, Saba, Skillsoft and Blackboard Inc.
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