E-Learning Industry is Emerging as a New Paradigm in Education Sector
The global education industry is the second largest industry after healthcare. The education sector is one of the fastest developing industries in the world. With the incorporation of new learning techniques, the education industry is witnessing a paradigm shift in approach. E-learning is one such segment of the education industry, which is evolving as a new milestone. With the ease of internet access and increased tech savvy people, the e-learning industry is grooming to be a lucrative market.
A recent report by Beige Market Intelligence on Global E-learning Market – Strategic Assessment and Forecast 2017-2022 states that the e-learning industry has posted several strides in what was a $41.11 billion market by 2016, the scope of the internet in education has expanded from content delivery to interactive learning platforms, language learning, functional skill development, proficiency testing, and higher education pedagogy, video streaming of classes to corporate training, talent management, and e-governance.
Three major learning modes and avenues that constitute the e-learning industry are Learning Management System (LMS), packaged content, and highly gamified applications or serious games. In 2016, packaged content constituted a major market, followed by LMS. The emergence of software applications such as LMSs provides the user with a complete package of language learning methods by documenting, administrating, tracking, reporting, and delivering the content. Academic institutions widely use these systems for delivering their distance education programs as well as for supporting their students outside the classroom. The corporate sector also established these systems as the mainstream platform for delivering training services to employees. The traditional examples of LMS used by the academic as well as the business world are Blackboard, Moodle, and CLIX.
However, the onset of Web 2.0 has altered the learning landscape from being driven on LMS and packaged content to more interactive and engaging avenues. With the improvement in the internet infrastructure, learners have started to have access to a variety of learning tools and services on the internet that are open and free. Repositories such as Wikipedia, YouTube, and Slide Share have sparked the rise of open sourcing and sharing of content. The same has further evolved into serious and curated platforms such as Yelp, StackOverflow, and Quora.
Packaged Content in E-Learning Industry
Packaged content in the e-learning industry refers to the study material for courses on the digital learning platform that is prepared in accordance to regulations and standards. Content packaging specifications and standards allow courses to be transported among different systems. Packaged learning content can potentially be created by one tool, modified by another tool, stored in a repository maintained by one vendor, and used in a delivery environment produced by different vendors.
Packaging content includes raw content, assembly, and delivery and presentation information. Assessments and their component questions are special type of learning content, which is currently supported by different set of specifications. As of learning content is considered, questions, tests, and test banks can be transported among systems. The IMS Question and Test Interoperability (QTI), specification is an attempt of standardization in the assessment packaging and delivery.
Learning Management System (LMS) in e-Learning Industry
Software-as-a-service (SaaS) is a web-based software, which is directly hosted over the internet in corporates for training purposes. It is now playing a major role in which organizations, employers, and employers connect through the cloud platform. Some of the key benefits include easy maintenance of the system, technical scalability, and swift software deployment. Also, SaaS associated LMS, an integral part of the cloud-based services, is an asset in the global e-learning industry as it plays a major role in its growth concerning to increasing adoption of the software by all small, medium and large-scale corporations. All corporate companies are now opting for SaaS-based LMS as a plan for their employee career developments through their trainings.
The report on the e-Learning market includes a detailed discussion on market growth drivers, trends, and restraints. The e-Learning industry report profiles the leading five vendors and the ten other prominent vendors in the market. It provides an overview of the factors driving and restraining the growth of the e-learning industry. The report also outlines the key trends emerging in the market that will contribute to the growth of the global e-learning market during the forecast period. It also outlines the key trends emerging in the market that will contribute to the growth of the e-Learning market during the forecast period. The report includes the e-learning industry analysis of different regions such as North America, Latin America, APAC, Europe, and MEA. The report outlines the major market shareholder and the market size analysis of all regions.
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