Corporate E-Learning Market

Report Overview

Corporate E-Learning Market is anticipated to grow at a CAGR of 18.7% in the forecast period (2022-2032), with the market size valued at USD 243.66 billion in 2022 and expected to reach USD 1598.6 billion by 2032.

Product Overview

Corporate e-learning refers to the use of digital technologies and online learning platforms to deliver training, educational content, and skill development programs to corporate employees. It comprises the application of multiple digital tools like Learning Management Systems (LMS), online courses, video tutorials, webinars, and other resources to provide a convenient and effective method for employees to acquire modern skills and stay updated on legal requirements. Corporate e-learning facilitates organizations to meet the evolving training and development needs, promote employee growth, and eventually improve their efficiency and competitiveness in the market.

Market Highlights

Corporate E-Learning Market is projected to exhibit a CAGR of 18.7% during the forecast period, 2022-2032

Corporate E-Learning Market is expected to reach USD 1598.6 billion, growing at a CAGR of 18.7% during the forecast period. The growth is attributed to the increasing focus on the development and upskilling of employees, due to the rapid evolution of technology and new market developments. The growing popularity of hybrid work model and the integration of artificial intelligence into e-learning platforms are major factors propelling the expansion. Additionally, there is an increase in the adoption of mobile learning and high emphasis on legal education. The market offers companies an opportunity to improve skills, productivity, and flexibility of their workforce, which is essential in modern business environment. The need for multiple e-learning products and services across various sectors will contribute to the growth of the corporate e-learning market.

Source: Fatpos Global

Corporate E-Learning Market Segmentation

Self-paced segment to dominate for its flexibility and ease of usage

Based on the Training Type, the market is divided into Instructor-Led Training and Self-Paced Training. Self-paced training leads the market due to its learner-centric approach, which allows individuals to acquire knowledge at their own pace. Self-paced training is available on multiple platforms, such as online Learning Management Systems (LMS), Learning Content Management Systems (LCMS), and portable e-learning apps. The growing popularity of this method is due to its flexibility and ease of usage, which provides a customized educational experience. Conversely, the instructor-led training (ILT) market is predicted to grow at a slower rate. ILT is a common choice for corporate training as it provides better interaction among users. However, due to time and financial limitations, companies seeking affordable and efficient training solutions primarily avoid this approach.

Learning Management Systems (LMS) segment to expand for its high adoption rate across sectors

By Technology, the Corporate E-Learning Market is typically segmented into Web-Based, Learning Management System (LMS), Learning Content Management System (LCMS), and Others. Learning Management Systems (LMS) has the largest market share due to its widespread adoption across businesses. LMS is a software-based tool designed to manage and deliver educational lessons and training programs. It serves as a platform for providing educational content to diverse audiences, from online courses to real-time classroom sessions. Additionally, LMS systems are accessible through smartphones which ensures their greater accessibility.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Gamification to Promote Active Participation and Improved Completion Rate

Gamification in e-learning is an efficient approach that utilizes game design elements to make the process of learning more engaging, motivating, and productive. It consists of components like leaderboards, awards, and badges, which are essential to e-Learning since they help in increasing the motivation and engagement of learners. This strategy promotes higher participation and swift feedback, resulting in improved completion rate. Additionally, gamification delivers data insights into learner performance and serves as a strategic tool for companies seeking to enhance their training efficacy and productivity. Gamification in corporate eLearning function as a crucial technique to enhance learning outcomes and increase overall employee performance, which helps in market expansion.

Rising Demand for Workforce Upskilling Will Hasten Market Expansion

Rising demand for upskilling and reskilling, driven by the rapid evolution of technology, is a key driver for the expansion of the corporate e-learning market. Businesses are increasingly recognizing the importance of investing in the development and training initiatives of employees, to ensure their workforce remains skilled and adaptable as market conditions and technological advancements shifts. The growing importance of skill development and ongoing learning is one of the main drivers of the corporate e-learning market's expansion.

Restraints

Absence of Face-to-Face Communication and Engagement is Impeding the Growth of the Market

Maintaining the engagement and motivation of employees in an eLearning environment is challenging, especially in the absence of in-person interaction with the instructor. The lack of physical interaction can cause a disconnect among learners and may result in the loss of enthusiasm for engaging in online educational programs. Therefore, it is necessary to create exciting and engaging eLearning modules. This challenge can be minimized by incorporating gamification elements like leaderboards and badges and by developing interactive educational settings that encourage student interaction. These strategies improve the efficacy of eLearning by keeping learners interested and promoting a sense of community and shared objectives.

Recent Developments

•  Skillsoft paid $1.5 billion for Saba Software, a global learning solutions business, in April 2023. The acquisition will allow Skillsoft to grow its presence in the worldwide corporate e-learning industry and provide its customers with a broader selection of learning solutions.
•  Adobe released its new Adobe Captivate Prime learning management system in March 2023. Captivate Prime is a cloud-based learning management system that has a new user interface, enhanced reporting, and connection with other Adobe products.

Corporate E-Learning Market

Key Players:

• SAP Litmos
• Adobe Captivate Prime
• Cornerstone OnDemand
• Oracle Learning Cloud
• IBM Talent Management
• Skillsoft
• LinkedIn Learning
• D2L (Desire2Learn)
• Articulate
• Blackboard
• Moodle
• Docebo
• EdX
• Coursera for Business
• Cornerstone Content Anytime
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Corporate E-Learning Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the corporate e-learning market for its notable development in the adoption of e-learning solutions among its workforces. Significant government investments and an evident increase in the use of modern digital infrastructure have strengthened the e-learning market in the region.

The Asia-Pacific region is set to expand at the fastest growth rate. This trend is supported by multiple enterprises in this region which are expanding their offerings by incorporating e-learning. The substantial digital transformation that these developing economies are experiencing is also driving the growth of e-learning platforms.

 Source: Fatpos Global

Impact of Covid-19 on Corporate E-Learning Market

Covid-19 pandemic had a profound impact on the corporate e-learning market. The pandemic encouraged companies to switch to online training platforms due to several lockdowns and restrictions. This resulted in a rapid growth of the corporate e-learning sector. E-learning solutions witnessed a sharp rise in demand owing to the sudden need to remotely educate and upskill employees due to the change in work dynamics. The pandemic highlighted the importance of flexible, easily accessible, and expandable training methods. The pandemic encouraged the adoption of corporate e-learning as an essential tool for workforce growth, affordable training, and ensuring the continuity of businesses in the face of unprecedented challenges.

Corporate E-Learning Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Corporate E-Learning Market Scope and Segments:

Frequently Asked Questions (FAQ):