e-Learning has revolutionized the educational sector.
The future of e-Learning is brighter than ever judging by the Top 10 eLearning statistics for 2014 particle and infographic. e-Learning’s popularity isn’t showing any signs of slowing down. (Infographic)
e-Learning has revolutionized the educational sector, and has changed the way we look at knowledge and skill acquisition altogether. Thanks to modern educational technology, e-Learning tools and techniques just keep getting bigger and better. Today, they are providing learners with a more impressive, and more effective, educational experience.
More and more students and employees are using e-Learning to earn their degrees, build upon their knowledge base, and develop new skills. As such, an increasing number of online courses are now being offered in order to meet the ever-growing demand.
Most importantly, the rise in e-Learning’s popularity isn’t showing any signs of slowing. In fact, judging by the following Top 10 eLearning statistics for 2014, the future of the e-Learning Industry is brighter than ever:
- In 2011, it was estimated that about $35.6 billion was spent on self-paced eLearning across the globe. Today, e-Learning is a $56.2 billion industry, and it’s going to double by 2015.
- Corporations now report that e-Learning is the second most valuable training method that they use. This is no surprise, given that e-Learning saves businesses at least 50% when they replace traditional instructor-based training with e-Learning. Not to mention that e-Learning cuts down instruction time by up to 60%.
- Today, it’s estimated that about 4.6 college students are taking at least one course online. However, by 2019, roughly half of all college classes will be eLearning-based.
- e-Learning is also Eco-friendly. Recent studies conducted by Britain’s Open University have found that e-Learning consumes 90% less energy than traditional courses. The amount of CO2 emissions (per student) is also reduced by up to 85%.
- Over 41.7% percent of global Fortune 500 companies now use some form of educational technology to instruct employees during formal learning hours, and that figure is only going to steadily increase in future years.
- The world’s most rapidly growing e-Learning markets are Malaysia and Vietnam. In fact, the estimated 5 year annual growth rate for the Asian e-Learning market is 17.3%. That is the highest compound annual growth rate of any global region. Here are a few more key e-Learning stats for other parts of the world:
- Self-paced e-Learning’s growth rate in the Middle East is 8.2%, and its revenues are expected to reach $560.7 million by 2016.
- The self-paced e-Learning market growth rate in Western Europe is 5.8%, and it’s estimated that their revenues will be at $8.1 billion by 2015.
- Africa’s compound annual growth rate for self-paced e-Learning is 15.4%, and their revenues are expected to reach $512.8 million by the year 2016.
- According to a report released by IBM, companies who utilize e-Learning tools and strategies have the potential to boost productivity by up to 50%. For every $1 that company spends, it’s estimated that they can receive $30 worth of productivity.
- According to a recent study conducted by The Research Institute of America, e-Learning has the power to increase information retention rates by up to 60%. That means that, not only is e-Learning more cost efficient, but also it’s also more effective (in terms of how much knowledge is truly acquired during the learning process).
- It’s been estimated that nearly 25% of all employees leave their job because there simply aren’t enough training or learning opportunities. On the other hand, companies who do offer e-Learning and on-the-job training generate about 26% more revenue per employee.
- 72% of companies who were included in a recent survey stated that e-Learning helps them to keep up-to-date with changes in their industry, which helps them to remain competitive within their niche. It was also found, in a study conducted by Bersin & Associates) that companies and organizations that did have a strong learning culture did better in their market than those who do not. For example, these organizations are 46% more like to be the leader in their industry, note a 34% increase in their ability to respond to the needs of the customer, and are 17% more likely to become the market share leader.
Photo credit: LionBridge
