E-learning is an electronic learning system utilized to upgrade traditional classroom learning. E-learning systems allow interaction through virtual classrooms and easy communication with professors, trainers, and students. Schools using E-learning technologies are way ahead of those which still have the traditional learning approach. Training programs conducted primarily for professionals across the globe by multinational companies (MNCs) are empowered with E-learning. E-learning has proved to be the best means to render knowledge in the corporate world. E-learning enables employees to procure important skills with the advantage of accessing online content at their preferred time and location.
In January 2017, Udacity Inc. acquired CloudLabs for improvement of the collaborative coding environment. The E-learning industry is seeing a large number of collaborations and tie-ups for software application development. Key players in the E-Learning market are Coursera Inc., edX Inc., BizLibrary, Udemy, Inc. and Khan Academy.
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The main factors that boost the growth of the E-learning market are less investment cost, flexibility of access, and animated and interactive learning. Usage of the internet and computers form a major component of E-learning. Thus, the market growth is also fueled by a hike in the number of internet users and growing access to broadband integrated with mobile phones. The introduction of Social, Mobile, Analytics, and Cloud (known as SMAC) technologies has also facilitated the adoption of E-learning solutions. Cloud based learning management systems and SaaS is also one of the driving factors for the E-learning Market. Major advances in Virtual and augmented reality are boosting the E-leaning market. One of the major restraints of E-learning is limited awareness of digital technology in rural areas. Also, implementing good E-learning according to individual needs is difficult.
The E-learning market around the globe is changing rapidly with emerging trends such as social learning, personalized learning, mobile learning, and Massive Open Online Courses (MOOC’s). Personalized learning is one of the most influencing trends as it is away from one-size-fits-all, it has an adaptive model, and students are presented with the learning activities based on what they know. Further, game based learning has also gained significance as students enjoy fun based learning.
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