Devlin Peck
How big is the eLearning market?
In this article, you’ll learn:
…And much more!
Ready? Let’s jump into it.
The global eLearning market consists of different segments around online education. That involves online learning platforms and other technology used for education like videos, eBooks, augmented reality, virtual reality, or gamified learning. The eLearning market covers most anything educational via devices like computers, laptops, tablets, and even smartphones.
The eLearning market can also be segmented by:
The eLearning market is growing rapidly because education has increasingly shifted online. Online learning offers benefits like increased flexibility, reduced costs, and lower barriers to entry.
So, how large is the eLearning market exactly? Keep reading.
According to a study published in May 2023, the eLearning market was valued at $399.3 billion in 2022. A different study from Statista estimated that the global eLearning market will be almost $400 billion U.S. dollars by 2026. This is because in 2019, their estimated eLearning market was sized at half of this amount, $200 billion.
(Note: It’s important to note that the exact size of the eLearning market is hard to calculate as the way the eLearning market is defined might vary.)
Yes, the eLearning market is growing—a lot. Since its creation in 2000, online learning has been the fastest-growing market within the education industry. In the past 23 years, it’s grown over an estimated 900%.
The eLearning market has seen unprecedented growth in recent years due to, in many ways, the COVID-19 pandemic. The need and adoption of eLearning accelerated in 2020 and has no signs of slowing down.
For example, take Coursera’s user base. The global online learning platform reported over 20 million new learners in 2021. This was equivalent to the total growth in the three years prior to the pandemic.
The global eLearning market size is projected to grow at a 14% CAGR (Compound Annual Growth Rate) from 2023 to 2032. By the end of the forecasted period (2023 to 2032), it is projected to be worth over $1 trillion.
Another study projected a CAGR of 17.54% by 2030 and that the market size will be $848.12 billion by then.
North America makes up approximately half of the eLearning market. Meanwhile, in Asia, the government has funded many initiatives to expand eLearning to rural parts of the continent, driving a 17% annual growth rate.
Now that you know how big the eLearning market may be as a whole, let’s break it up. First up: the corporate eLearning market size.
The corporate eLearning market is projected to grow to $462.6 billion in 2027 from $245.5 billion in 2022. This eLearning market segment is expected to grow at more than 13% CAGR (Compound Annual Growth Rate). North America was the biggest eLearning market in 2022.
Approximately 63% of U.S. workers have taken a professional class or training within the past year. Nearly half of those workers, 47%, say that this training helped them advance at their current company, while 29% say it helped them find a new job. Another 27% report that corporate-related training helped them consider a different career path.
University education holds a projected market volume of $103.8 billion in 2023.
Nowadays, 98% of universities offer some form of online courses. At the same time, 63% of college students choose to study online because they prefer the flexibility of virtual learning. As a result, 49% of full-time faculty members have been trained in online learning.
In 2023, the mobile learning market is estimated to be worth $60.97 billion. This is growing at an impressive CAGR of 24.78% from the forecasted period of 2023 to 2028. By that time, the market will be valued at $184.4 billion.
The mobile learning market is experiencing significant growth due to several key factors, like the widespread integration of electronic devices in educational institutions, investments in information technology, and the expanding acceptance of the Bring Your Own Device (BYOD) culture.
How much revenue does the eLearning market generate? In 2023, the revenue of the online education market was expected to reach $166.6 billion—and it is growing. This figure is projected to show an annual growth rate of almost 9.5% from 2023 to 2027.
On a global scale, the United States will generate the most revenue within the eLearning market, estimated at $74.8 billion this year.
Another source reported that the digital spend on education was $142 billion in 2018 while being forecasted to nearly double to $342 billion by 2025. From 2020 to 2024, the number of courses and genres is expected to grow as much as $38 billion.
When analyzing top eLearning platforms, the United States has the highest number of total online learners. For example, there are over 17.3 million registered online learners in the U.S. on the course platform Coursera, about 4 million more than the second leader, India (13.6M).
However, the highest rate of new learner growth came from emerging countries. For example, Paraguay experienced a 98% market growth, totaling 110,000 learners on Coursera. Others with this market growth were Lebanon (97% growth) and the Philippines (85% growth).
Let’s take a closer look into the eLearning market and eLearner demographics within the United States.
Americans’ stance on success and career advancements make eLearning even more appealing and popular here. That’s why many online programs target the adult population. In 2019, 79% of educators reported that their online education programs were aimed at adult students wishing to return to school after an absence.
Learning management systems, or LMS, are software applications that provide the tools for administering, documenting, tracking, reporting, automating, and delivering learning experiences.
This LMS market has an estimated value of $20 billion and is expected to grow at a CAGR of over 16.4% from 2023 to 2030.
When it comes to revenue within the learning management system market, the on-premise segment dominates the market. This accounted for more than 45% of the worldwide revenue share.
The rapid growth of the eLearning market is transforming how people (and employees) learn worldwide. It’s now time to dive into the eLearning segments growing the fastest. In short, here are the current eLearning trends.
From 2023 to 2028, the global AI education market is expected to grow at a CAGR of 45.9%. At the same time, 75% of people think the adoption of AI improves learner outcomes.
With attention spans getting shorter each year, it’s no surprise microlearning is becoming increasingly popular. 80% of employees reported preferring microlearning over traditional methods.
Additionally, microlearning increased learner engagement by as much as 80% and increased knowledge retention by up to 70%. It was also found that microlearning reduced training costs by up to 50%. This is because microlearning requires fewer resources.
Did you know that 74% of U.S. adults consider themselves “lifelong learners”? One-quarter of these American adults reported taking an in-person course and another 16% took an online course. That means children in traditional schools are just one segment within the eLearning market. All people who want to learn easily can, thanks to eLearning.
The CAGR of the eLearning market is approximately 14%, while the global market for AR/VR in training is predicted to project nearly three times faster than that. With a CAGR of over 41%, the AR/VR training market is expected to reach $142 billion by the end of 2031.
48% of Americans would switch to a new job if it offered them skills training opportunities. 65% believe employer-provided upskilling is important when they evaluate a new job. Employees who participate in upskilling programs earn a reported $8,000 more than their peers without the same training.
Another trend in eLearning is gamification, or teaching with game-based elements like rewards, prizes, challenges, or simulations. Not only do students love it (67.7% agreed gamified learning is more motivating), but a gamified approach improved a student’s overall performance by 35%.
The last eLearning trend we’ll uncover is mobile learning. It’s on the rise as mobile users are completing courses 45% faster than those who use a desktop. Meanwhile, 99% of learners said mobile learning supported their efforts. Three out of four learners, 75%, said the main benefits of mobile learning were convenience, time savings, and limited distractions.
There you have it, that’s the eLearning market size.
Now, you know exactly how fast the eLearning market is growing worldwide and what eLearning trends are shaping this rapidly expanding industry. Ultimately, technological advancements like AI and AR/VR are fundamentally changing the industry – and we’re most likely going to see rapid growth in the next few years.
