Today’s educational landscape is going through a revolution unlike any we’ve ever seen before. The e-learning industry growth statistics aren’t showing any signs of slowing down, and the corporate e-learning sector is expected to grow by as much as $38 billion from 2020 to 2024. The largest EdTech companies such as Coursera are already valued at well over $1 billion, and they will be the driving force of the entire online education industry.
Through online learning, students can find MOOCs of their liking from any corner of the globe. Companies can save hundreds of millions in corporate training. And, universities no longer have to invest a quarter of their entire budget in large physical premises that host their lectures.
Online learning opens up new windows of opportunity for everyone, but it’s not always impeccable. Not all types of e-learning are showing growth, and some are even declining. Statistics on the self-paced e-learning market, for example, reveal a steep decline of 6.4% or more per year. That is despite both employees and students reporting self-paced instruction as one of the key motivators to use e-learning. In this decade, it’s likely that microlearning will rise to the top and fill in any holes left by declining numbers in the self-paced digital learning market.