E-learning Market growth Rate – Essay Example
Research on E-learning Market growth Rate According to Caroline (784), the given rise in the technological revolution, electronic learning otherwise termed as E-learning has emerged as one of the best solutions in a continuous education industry. However, E learning marketing trends and development goes beyond a centralized form of education and embraces learners in a dynamic environment. With consideration to different kinds of environments, most companies have resolved to the adoption of varied kinds of E- learning solutions that are perceived best for their employees while working at the same time able to continue in pursuant of their education. Therefore, most business that has successfully implemented the use of e-learning has since received recommendable benefits that bring a different perception from how it existed in the past. Several sources have pointed how e-learning marketing growth rate goes beyond boundaries. For instance, an article obtained from business weekly on Wall-Street journal provides possible evidence of rising interests in e-learning courses with projections targeting at over $166 billion by the end of 2018.
Professional journals obtained from the international government bureau of statistics identifies that an e-learning is gaining popularity tremendously at the pase of the digital revolution that embrace internet technology that enables online tutorials with an aid of personal computers. With respect to the above resources, presence of e-learning has gained recognition from different companies because institutions that offer such mode of education get access to varied number of opportunities while other service-based organizations have come up with applications that help towards the moderation of e-learning studies. Due to lower cost of online education, most companies have resorted to modify e-learning environment for numerous possible gains during credit crunch period (Viscusi and Joseph Para 9).
According to Nielsen sales tracking of consumers’ industrial surveys, E-learning indicates projections of possible growth in the next few years. Market for e leaning across the globe is showing a statistics of $ 25 billion in 2012 with speculation of 7% returns annually, there are chances of the figure getting beyond $50 billion by 2018. Despite the facts that there is no substantial evidence concerning the market of e learning, every annual expansion gives comparative statistics that are quite impressive (Jung and Latchem 22). The adoption to online mode of education embraces online platform, web content tools companies sectors of study. All the above infrastructures lead to two major determinants of an e-learning growth rate; the course package content that is developed by the institution at the best interest of gaining dominance over institutions and online platform that determines the outcome at the end of the study. The two platforms are associated by different growth rates depending on the physical locality of the institution.
The leading markets for E-learning products are mostly found in Europe and the united states whose governments have developed substantial information infrastructure such as voice over the internet protocol, Skype and Google talk in support is support and development of e-learning. Despite the fact that e-learning technology is not adversely developed in Africa, some of the African countries have begun its exploration through adoption of technical solutions at a growth rate of 32% per annum clarifies (Jung and Latchem 22).
Caroline, Howard. Encyclopedia of distance learning. Hershey, Penns. : Idea Group Reference, 2005. Print.
Viscusi, W. Kip, and Joseph E. Aldy. "The value of a statistical life: a critical review of market estimates throughout the world." Journal of risk and uncertainty 27.1 (2003): 5-76.
Jung, Insung and Latchem, Colin. Quality Assurance and Accreditation in Distance Education and E-Learning: Models, Policies and Research. Routledge, 2012. Print.