E-Learning Market

E-LEARNING MARKET
GLOBAL OUTLOOK & FORECAST

2020−2025
E-LEARNING MARKET
TABLE OF CONTENTS
1 RESEARCH METHODOLOGY .............................................................................................................................. 18
2 RESEARCH OBJECTIVES ....................................................................................................................................... 19
3 RESEARCH PROCESS.............................................................................................................................................. 20
4 SCOPE & COVERAGE ............................................................................................................................................. 21
4.1 MARKET DEFINITION ......................................................................................................................................................... 21
4.1.1 INCLUSIONS .......................................................................................................................................................... 21
4.1.2 EXCLUSIONS ......................................................................................................................................................... 21
4.2 BASE YEAR ............................................................................................................................................................................. 21
4.3 SCOPE OF THE STUDY......................................................................................................................................................... 22
4.4 MARKET SEGMENTS ........................................................................................................................................................... 23
4.4.1 DELIVERY MODE.................................................................................................................................................. 23
4.4.2 LEARNING MODE ................................................................................................................................................ 23
4.4.3 MARKET SEGMENTATION BY FUNCTION .................................................................................................... 23
4.4.4 END-USERS ............................................................................................................................................................ 23
4.4.6 MARKET SEGMENTATION BY GEOGRAPHY ................................................................................................ 24
5 REPORT ASSUMPTIONS & CAVEATS ............................................................................................................... 25

5.1 KEY CAVEATS ....................................................................................................................................................................... 25
5.2 CURRENCY CONVERSION ................................................................................................................................................. 26
5.3 MARKET DERIVATION ....................................................................................................................................................... 27
6 MARKET AT A GLANCE ........................................................................................................................................ 30

7 INTRODUCTION ...................................................................................................................................................... 45
7.1 OVERVIEW ............................................................................................................................................................................. 45
8 IMPACT OF COVID-19 ............................................................................................................................................ 56

8.1 IMPACT OF COVID-19 ON THE E-LEARNING MARKET ............................................................................................. 56
9 MARKET OPPORTUNITIES & TRENDS ............................................................................................................ 61

9.1 INCREASE IN USE OF MOBILE APPS AND SOCIAL MEDIA ....................................................................................... 61
9.2 GROWTH OF BLENDED LEARNING IN EDUCATION TECHNOLOGY .................................................................... 64
9.3 INCREASING VR & AR APPLICATIONS IN E-LEARNING........................................................................................... 67
10 MARKET GROWTH ENABLERS........................................................................................................................... 69

10.1 HIGH INTERNET PENETRATION AND INTERNET-ENABLED DEVICES ................................................................ 69
10.2 GROWTH IN GLOBAL WORKFORCE AND MIGRATION OF SKILLED LABOR ...................................................... 72
10.3 DIGITIZATION INITIATIVES IN LEARNING & TRAINING ......................................................................................... 74
10.3.1 KEY FACTORS DRIVING FEDERAL INTEREST IN DIGITIZATION............................................................ 75
10.4 PERENNIAL PRIVATE INVESTMENTS IN DIGITAL LANGUAGE LEARNING ....................................................... 77
11 MARKET RESTRAINTS .......................................................................................................................................... 80

11.1 GROWING DEMAND FOR CONTINUOUS PRODUCT INNOVATIONS.................................................................... 80
11.2 VARIABILITY IN HARDWARE & SOFTWARE ................................................................................................................ 83
11.3 LIMITED ACCESS TO CLOSED MARKETS & PLATFORMS .......................................................................................... 86
11.4 INADEQUATE INTERNET BANDWIDTH IN DEVELOPING COUNTRIES ............................................................... 88
11.5 LACK OF VIABLE REVENUE & MONETIZATION MODELS ....................................................................................... 91
12 MARKET LANDSCAPE ........................................................................................................................................... 95

12.1 MARKET OVERVIEW ........................................................................................................................................................... 95
2 www.arizton.com Arizton 2020

E-LEARNING MARKET
12.2 MARKET SIZE & FORECAST............................................................................................................................................... 96

12.3 FIVE FORCES ANALYSIS ..................................................................................................................................................... 99
12.3.1 THREAT OF NEW ENTRANTS ......................................................................................................................... 100
12.3.2 BARGAINING POWER OF SUPPLIERS ........................................................................................................... 100
12.3.3 BARGAINING POWER OF BUYERS ................................................................................................................ 100
12.3.4 THREAT OF SUBSTITUTES................................................................................................................................ 101
12.3.5 COMPETITIVE RIVALRY ................................................................................................................................... 101
13 DELIVERY MODE ................................................................................................................................................... 103

13.1 MARKET SNAPSHOT & GROWTH ENGINE ................................................................................................................. 103
13.2 MARKET OVERVIEW ......................................................................................................................................................... 104
13.3 PACKAGED CONTENT...................................................................................................................................................... 107
13.3.1 MARKET SIZE & FORECAST ............................................................................................................................ 107
13.3.2 MARKET BY GEOGRAPHY ............................................................................................................................... 108
13.4 LMS ........................................................................................................................................................................................ 109
13.5 OTHERS ................................................................................................................................................................................. 111
14 LEARNING MODE ................................................................................................................................................. 114

14.2 MARKET OVERVIEW ......................................................................................................................................................... 115
14.3 SELF-PACED ......................................................................................................................................................................... 117
14.4 INSTRUCTOR-LED .............................................................................................................................................................. 119
15 FUNCTION ............................................................................................................................................................... 122

15.2 MARKET OVERVIEW ......................................................................................................................................................... 123
15.3 TRAINING ............................................................................................................................................................................ 125
15.4 TESTING ................................................................................................................................................................................ 127
16 END-USERS .............................................................................................................................................................. 130

16.2 MARKET OVERVIEW ......................................................................................................................................................... 131
16.3 CORPORATE ........................................................................................................................................................................ 134
16.4 HIGHER EDUCATION ....................................................................................................................................................... 137

E-LEARNING MARKET
16.5 K-12......................................................................................................................................................................................... 139

16.6 GOVERNMENT .................................................................................................................................................................... 141
16.7 VOCATIONAL ..................................................................................................................................................................... 143
17 GEOGRAPHY ........................................................................................................................................................... 146

17.2 GEOGRAPHIC OVERVIEW ............................................................................................................................................... 147
18 NORTH AMERICA ................................................................................................................................................. 151

18.1 MARKET OVERVIEW ......................................................................................................................................................... 151
18.1.2 STUDENTS EDUCATION & ENROLLMENT.................................................................................................. 154
18.2 DELIVERY MODE ................................................................................................................................................................ 155
18.3 LEARNING MODE .............................................................................................................................................................. 155
18.4 FUNCTION TYPE................................................................................................................................................................. 155
18.5 END-USERS .......................................................................................................................................................................... 156
18.6 KEY COUNTRIES ................................................................................................................................................................. 157
18.6.1 US: MARKET SIZE & FORECAST ..................................................................................................................... 158
18.6.2 CANADA: MARKET SIZE & FORECAST ........................................................................................................ 161
19 APAC .......................................................................................................................................................................... 164

19.1 MARKET OVERVIEW ......................................................................................................................................................... 164
19.2 DELIVERY MODE ................................................................................................................................................................ 170
19.3 LEARNING MODE .............................................................................................................................................................. 170
19.4 FUNCTION TYPE................................................................................................................................................................. 170
19.5 END-USERS .......................................................................................................................................................................... 171
19.6 KEY COUNTRIES ................................................................................................................................................................. 172
19.6.1 CHINA: MARKET SIZE & FORECAST ............................................................................................................. 173
19.6.2 SOUTH KOREA: MARKET SIZE & FORECAST .............................................................................................. 176
19.6.3 JAPAN: MARKET SIZE & FORECAST ............................................................................................................. 178
19.6.4 AUSTRALIA: MARKET SIZE & FORECAST.................................................................................................... 180
19.6.5 INDIA: MARKET SIZE & FORECAST............................................................................................................... 182
20 EUROPE ..................................................................................................................................................................... 186

20.1 MARKET OVERVIEW ......................................................................................................................................................... 186

E-LEARNING MARKET

20.1.2 EDUCATION & TRAINING 2020 PROGRAM (ET 2020) ............................................................................... 189
20.1.3 ERASMUS PROGRAM ........................................................................................................................................ 190
20.1.4 BOLOGNA PROGRAM ....................................................................................................................................... 190
20.2 DELIVERY MODE ................................................................................................................................................................ 191
20.3 LEARNING MODE .............................................................................................................................................................. 191
20.4 FUNCTION TYPE................................................................................................................................................................. 191
20.5 END-USERS .......................................................................................................................................................................... 192
20.6 KEY COUNTRIES ................................................................................................................................................................. 193
20.6.1 UK: MARKET SIZE & FORECAST..................................................................................................................... 194
20.6.2 GERMANY: MARKET SIZE & FORECAST ...................................................................................................... 196
20.6.3 FRANCE: MARKET SIZE & FORECAST .......................................................................................................... 198
20.6.4 NORDICS: MARKET SIZE & FORECAST ........................................................................................................ 200
20.6.5 SPAIN: MARKET SIZE & FORECAST .............................................................................................................. 202
21 LATIN AMERICA .................................................................................................................................................... 205

21.1 MARKET OVERVIEW ......................................................................................................................................................... 205
21.2 DELIVERY MODE ................................................................................................................................................................ 209
21.3 LEARNING MODE .............................................................................................................................................................. 209
21.4 FUNCTION TYPE................................................................................................................................................................. 209
21.5 END-USERS .......................................................................................................................................................................... 210
21.6 KEY COUNTRIES ................................................................................................................................................................. 211
21.6.1 BRAZIL: MARKET SIZE & FORECAST ............................................................................................................ 212
21.6.2 MEXICO: MARKET SIZE & FORECAST........................................................................................................... 215
21.6.3 ARGENTINA: MARKET SIZE & FORECAST .................................................................................................. 217
21.6.4 CHILE: MARKET SIZE & FORECAST .............................................................................................................. 219
22 MIDDLE EAST & AFRICA .................................................................................................................................... 222

22.1 MARKET OVERVIEW ......................................................................................................................................................... 222
22.2 DELIVERY MODE ................................................................................................................................................................ 228
22.3 LEARNING MODE .............................................................................................................................................................. 228
22.4 FUNCTION TYPE................................................................................................................................................................. 228
22.5 END-USERS .......................................................................................................................................................................... 229
22.6 KEY COUNTRIES ................................................................................................................................................................. 230

E-LEARNING MARKET
22.6.1 GCC: MARKET SIZE & FORECAST .................................................................................................................. 231

22.6.2 SOUTH AFRICA: MARKET SIE & FORECAST ............................................................................................... 233
23 COMPETITIVE LANDSCAPE .............................................................................................................................. 236

23.1 COMPETITION OVERVIEW .............................................................................................................................................. 236
23.2 STRATEGIC RECOMMENDATION.................................................................................................................................. 239
24 KEY COMPANY PROFILES .................................................................................................................................. 240

24.1 APOLLO EDUCATION GROUP ........................................................................................................................................ 240
24.1.1 BUSINESS OVERVIEW ....................................................................................................................................... 240
24.1.2 PRODUCT OFFERINGS ...................................................................................................................................... 241
24.1.3 KEY STRENGTHS ................................................................................................................................................ 241
24.1.4 KEY STRATEGIES ................................................................................................................................................ 242
24.1.5 KEY OPPORTUNITIES ........................................................................................................................................ 242
24.2 BLACKBOARD LEARN ...................................................................................................................................................... 243
24.2.3 KEY STRENGTHS ................................................................................................................................................ 244
24.2.4 KEY STRATEGIES ................................................................................................................................................ 244
24.3 BRITISH COUNCIL.............................................................................................................................................................. 245
24.3.3 KEY STRENGTHS ................................................................................................................................................ 246
24.3.4 KEY STRATEGIES ................................................................................................................................................ 246
24.4 ORACLE ................................................................................................................................................................................ 247
24.4.3 KEY STRENGTHS ................................................................................................................................................ 248
24.4.4 KEY STRATEGIES ................................................................................................................................................ 248
24.5 PEARSON .............................................................................................................................................................................. 250
24.5.3 KEY STRENGTHS ................................................................................................................................................ 251
24.5.4 KEY STRATEGIES ................................................................................................................................................ 252
25 OTHER PROMINENT VENDORS....................................................................................................................... 253

25.1 DOCEBO ................................................................................................................................................................................ 253
25.2 MCGRAW HILL E-LEARNING GROUP .......................................................................................................................... 254
25.3 APTARA ................................................................................................................................................................................ 254

E-LEARNING MARKET
25.4 DESIRE2LEARN ................................................................................................................................................................... 255

25.5 EDMODO .............................................................................................................................................................................. 256
25.6 SKILLSOFT ............................................................................................................................................................................ 256
25.7 CENGAGE LEARNING....................................................................................................................................................... 257
25.8 MACMILLAN ....................................................................................................................................................................... 258
25.9 CORNERSTONE ONDEMAND ......................................................................................................................................... 259
25.10 EDUCOMP ............................................................................................................................................................................ 260
25.11 KROTON ............................................................................................................................................................................... 262
25.12 TELEFONICA ....................................................................................................................................................................... 263
25.13 INSTRUCTURE ..................................................................................................................................................................... 264
25.14 EDX......................................................................................................................................................................................... 265
25.15 ENGLISH ATTACK ............................................................................................................................................................. 266
25.16 ESTACIO................................................................................................................................................................................ 267
25.17 COURSERA ........................................................................................................................................................................... 267
25.18 LATTITUDE .......................................................................................................................................................................... 268
25.19 LITMOS.................................................................................................................................................................................. 269

E-LEARNING MARKET

25.20 OPEN ENGLISH ................................................................................................................................................................... 269
25.21 VEDUCA................................................................................................................................................................................ 270
25.22 LINKEDIN (MICROSOFT) .................................................................................................................................................. 271
25.23 SIMPLILEARN ...................................................................................................................................................................... 271
25.24 THINK AND LEARN (BYJU’S) .......................................................................................................................................... 272
25.25 SWEETRUSH ........................................................................................................................................................................ 273
25.26 UPGRAD................................................................................................................................................................................ 273
25.27 LEQUEST ............................................................................................................................................................................... 274
25.28 FUTURELEARN ................................................................................................................................................................... 274
25.29 LEARN2PLAY....................................................................................................................................................................... 275
25.30 CHEGG .................................................................................................................................................................................. 276
25.31 BRIGHT LITTLE LABS ........................................................................................................................................................ 276
25.32 AULA EDUCATION ............................................................................................................................................................ 277
25.33 WHITEHAT SECURITY ...................................................................................................................................................... 277
25.34 BLINKIST............................................................................................................................................................................... 278
25.35 AVETI LEARNING .............................................................................................................................................................. 279

E-LEARNING MARKET

25.36 AGE OF LEARNING ............................................................................................................................................................ 279
25.37 LEARNETIC .......................................................................................................................................................................... 280
25.38 ELEARN AUSTRALIA......................................................................................................................................................... 281
25.39 360LEARNING ..................................................................................................................................................................... 281
25.40 KHAN ACADEMY............................................................................................................................................................... 282
25.41 UDEMY .................................................................................................................................................................................. 282
25.41.2 PRODUCT OFFERINGS....................................................................................................................................... 283
25.42 SKILLSHARE ........................................................................................................................................................................ 283
25.43 UDACITY .............................................................................................................................................................................. 284
25.44 PLURALSIGHT INC. ........................................................................................................................................................... 285
25.45 ALISON ................................................................................................................................................................................. 285
25.46 BABBEL.................................................................................................................................................................................. 286
25.47 TREEHOUSE ......................................................................................................................................................................... 287
25.48 UNACADEMY ...................................................................................................................................................................... 287
25.49 DUOLINGO .......................................................................................................................................................................... 288
26 REPORT SUMMARY .............................................................................................................................................. 290

26.1 KEY TAKEAWAYS .............................................................................................................................................................. 290

E-LEARNING MARKET
27 QUANTITATIVE SUMMARY .............................................................................................................................. 292

27.1 MARKET BY GEOGRAPHY ............................................................................................................................................... 292
27.2 DELIVERY MODE ................................................................................................................................................................ 292
27.2.1 PACKAGED CONTENT ..................................................................................................................................... 292
27.2.2 LMS ........................................................................................................................................................................ 293
27.2.3 OTHERS................................................................................................................................................................. 293
27.3 LEARNING MODE .............................................................................................................................................................. 294
27.3.1 SELF-PACED......................................................................................................................................................... 294
27.3.2 INSTRUCTOR-LED .............................................................................................................................................. 294
27.4 FUNCTION TYPE................................................................................................................................................................. 295
27.4.1 TRAINING ............................................................................................................................................................ 295
27.4.2 TESTING................................................................................................................................................................ 295
27.5 END-USERS .......................................................................................................................................................................... 296
27.5.1 CORPORATE ........................................................................................................................................................ 296
27.5.2 HIGHER EDUCATION ....................................................................................................................................... 296
27.5.3 K-12 ........................................................................................................................................................................ 297
27.5.4 GOVERNMENT.................................................................................................................................................... 297
27.5.5 VOCATIONAL ..................................................................................................................................................... 297
27.6 NORTH AMERICA .............................................................................................................................................................. 298
27.6.1 DELIVERY MODE................................................................................................................................................ 298
27.6.2 LEARNING MODE .............................................................................................................................................. 298
27.6.3 FUNCTION TYPE ................................................................................................................................................ 298
27.6.4 END-USERS .......................................................................................................................................................... 299
27.7 APAC ..................................................................................................................................................................................... 299
27.7.1 DELIVERY MODE................................................................................................................................................ 299
27.7.2 LEARNING MODE .............................................................................................................................................. 299
27.7.3 FUNCTION TYPE ................................................................................................................................................ 300
27.7.4 END-USERS .......................................................................................................................................................... 300
27.8 EUROPE ................................................................................................................................................................................. 300
27.8.1 DELIVERY MODE................................................................................................................................................ 300
27.8.2 LEARNING MODE .............................................................................................................................................. 301
27.8.3 FUNCTION TYPE ................................................................................................................................................ 301
27.8.4 END-USERS .......................................................................................................................................................... 301
27.9 LATIN AMERICA ................................................................................................................................................................ 302
27.9.1 DELIVERY MODE................................................................................................................................................ 302
27.9.2 LEARNING MODE .............................................................................................................................................. 302
27.9.3 FUNCTION TYPE ................................................................................................................................................ 302
27.9.4 END-USERS .......................................................................................................................................................... 303
27.10 MIDDLE EAST & AFRICA .................................................................................................................................................. 303
27.10.1 DELIVERY MODE................................................................................................................................................ 303
27.10.2 LEARNING MODE .............................................................................................................................................. 303
27.10.3 FUNCTION TYPE ................................................................................................................................................ 304
27.10.4 END-USERS .......................................................................................................................................................... 304
28 APPENDIX ................................................................................................................................................................ 305

28.1 ABBREVIATIONS ................................................................................................................................................................ 305

E-LEARNING MARKET
LIST OF EXHIBITS
EXHIBIT 1 SEGMENTATION OF GLOBAL E-LEARNING MARKET ........................................................................................................ 22
EXHIBIT 2 MARKET SIZE CALCULATION APPROACH 2019 ................................................................................................................... 27
EXHIBIT 3 KEY E-LEANING COURSES CONSUMERS ARE LOOKING FOR .......................................................................................... 45
EXHIBIT 4 TOP 5 E-LEARNING MARKET IN 2019 ....................................................................................................................................... 46
EXHIBIT 5 COVID-19 IMPACT ON EDUCATION 2020 ................................................................................................................................ 47
EXHIBIT 6 PERCEIVED BENEFITS AND LIMITATIONS OF E-LEARNING IN HIGHER EDUCATION ............................................. 53
EXHIBIT 7 PARENT’S REPORTED EDUCATION SOURCES FOR K-12 STUDENTS DURING COVID-19 ........................................... 56
EXHIBIT 8 GLOBAL E-LEARNING MARKET GROWTH RATE BY END-USERS (2029–2025) ............................................................... 57
EXHIBIT 9 PERCENTAGE OF THE WORKERS AT RISK DUE TO COVID-19 .......................................................................................... 59
EXHIBIT 10 IMPACT OF INCREASE IN USE OF MOBILE APPS AND SOCIAL MEDIA .......................................................................... 61
EXHIBIT 11 RISING ADOPTION OF DIGITAL DEVICES AND CONTENT................................................................................................ 62
EXHIBIT 12 IMPACT OF GROWTH OF BLENDED LEARNING IN EDUCATION TECHNOLOGY ....................................................... 64
EXHIBIT 13 PROMINENT BLENDED LEARNING MODELS ........................................................................................................................ 65
EXHIBIT 14 IMPACT OF INCREASING AR & VR APPLICATIONS IN E-LEARNING ............................................................................. 67
EXHIBIT 15 IMPACT OF HIGHER INTERNET PENETRATION & INTERNET-ENABLED DEVICES .................................................... 69
EXHIBIT 16 GLOBAL POPULATION AND INTERNET USERS SCENARIO 2019 ...................................................................................... 70
EXHIBIT 17 IMPACT OF GROWTH IN GLOBAL WORKFORCE & MIGRATION OF SKILLED LABOR ............................................... 72
EXHIBIT 18 IMPACT OF DIGITIZATION INITIATIVES IN LEARNING & TRAINING............................................................................ 74
EXHIBIT 19 PERCEIVED BENEFITS OF E-LEARNING (NORMALIZED RESULTS) ................................................................................. 76
EXHIBIT 20 IMPACT OF PERENNIAL PRIVATE INVESTMENTS IN DIGITAL LANGUAGE LEARNING .......................................... 77
EXHIBIT 21 IMPACT OF GROWING DEMAND FOR CONTINUOUS PRODUCT INNOVATIONS ...................................................... 80
EXHIBIT 22 KEY INNOVATION AREAS IN E-LEARNING PRODUCTS .................................................................................................... 81
EXHIBIT 23 RANKING OF EXPENDITURE HEADS CITED FOR PRODUCT INNOVATION (130 VENDORS).................................... 82
EXHIBIT 24 IMPACT OF VARIABILITY IN HARDWARE & SOFTWARE ................................................................................................... 83
EXHIBIT 25 VARIABILITY IN SOFTWARE & HARDWARE.......................................................................................................................... 84
EXHIBIT 26 IMPACT OF LIMITED ACCESS TO CLOSED MARKETS & PLATFORMS ............................................................................. 86
EXHIBIT 27 IMPACT OF INADEQUATE INTERNET BANDWIDTH IN DEVELOPING COUNTRIES .................................................. 88
EXHIBIT 28 IMPACT OF LACK OF VIABLE REVENUE & MONETIZATION MODELS .......................................................................... 91
EXHIBIT 29 GLOBAL E-LEARNING MARKET OVERVIEW ......................................................................................................................... 95
EXHIBIT 30 GLOBAL E-LEARNING MARKET 2019–2025 ($ BILLION)....................................................................................................... 96
EXHIBIT 31 E-LEARNING MARKET GROWTH RATE BY GEOGRAPHIES 2020–2025 ............................................................................ 97
EXHIBIT 32 FIVE FORCES ANALYSIS 2019...................................................................................................................................................... 99
EXHIBIT 33 INCREMENTAL GROWTH BY SEGMENT 2019 & 2025 ......................................................................................................... 103
EXHIBIT 34 GLOBAL E-LEARNING MARKET BY DELIVERY MODE 2019-2025 .................................................................................... 104
EXHIBIT 35 SEGMENTAL CONTRIBUTION OF GLOBAL E-LEARNING MARKET BY DELIVERY MODE 2019–2025 .................... 105
EXHIBIT 36 GLOBAL PACKAGED CONTENT MARKET 2019–2025 ($ BILLION)................................................................................... 107
EXHIBIT 37 GLOBAL LMS MARKET 2019–2025 ($ BILLION) ..................................................................................................................... 109
EXHIBIT 38 GLOBAL OTHER DELIVERY MODES MARKET 2019−2025 ($ BILLION) ............................................................................ 111
EXHIBIT 40 GLOBAL E-LEARNING MARKET BY LEARNING MODE 2019–2025 .................................................................................. 115
EXHIBIT 41 GLOBAL SELF-PACED E-LEARNING MARKET 2019−2025 ($ BILLION) ........................................................................... 117
EXHIBIT 42 GLOBAL INSTRUCTOR-LED MARKET 2019−2025 ($ BILLION) .......................................................................................... 119
EXHIBIT 44 GLOBAL E-LEARNING MARKET BY FUNCTION TYPE 2019–2025 .................................................................................... 123
EXHIBIT 45 GLOBAL TRAINING MARKET 2019−2025 ($ BILLION) ......................................................................................................... 125
EXHIBIT 46 GLOBAL TESTING MARKET 2019−2025 ($ BILLION) ............................................................................................................ 127

E-LEARNING MARKET
EXHIBIT 48 GLOBAL E-LEARNING MARKET BY END-USERS 2019–2025 .............................................................................................. 131

EXHIBIT 49 GLOBAL CORPORATE E-LEARNING MARKET 2019−2025 ($ BILLION) ........................................................................... 134
EXHIBIT 50 REQUISITES FOR E-LEARNING IN CORPORATE SEGMENT.............................................................................................. 135
EXHIBIT 51 GLOBAL HIGHER EDUCATION E-LEARNING MARKET 2019−2025 ($ BILLION) .......................................................... 137
EXHIBIT 52 GLOBAL K-12 E-LEARNING MARKET 2019−2025 ($ BILLION) ........................................................................................... 139
EXHIBIT 53 GLOBAL GOVERNMENT E-LEARNING MARKET 2019−2025 ($ BILLION) ...................................................................... 141
EXHIBIT 54 GLOBAL VOCATIONAL E-LEARNING MARKET 2019−2025 ($ BILLION) ........................................................................ 143
EXHIBIT 55 INCREMENTAL GROWTH BY GEOGRAPHY 2019 & 2025 ................................................................................................... 146
EXHIBIT 56 GLOBAL E-LEARNING MARKET BY GEOGRAPHIES 2019–2025 ........................................................................................ 147
EXHIBIT 57 GLOBAL POPULATION & PENETRATION OF INTERNET AND SMARTPHONES 2019 ............................................... 148
EXHIBIT 58 E-LEARNING MARKET IN NORTH AMERICA 2019–2025 ................................................................................................... 151
EXHIBIT 59 NORTH AMERICA E-LEARNING MARKET 2019–2025 ($ BILLION) .................................................................................. 152
EXHIBIT 60 ANNUAL SAVINGS RATIO 2009–2019 ..................................................................................................................................... 153
EXHIBIT 61 STUDENTS EDUCATION & ENROLLMENT IN US 2018 ....................................................................................................... 154
EXHIBIT 62 INCREMENTAL GROWTH IN NORTH AMERICA 2019 & 2025........................................................................................... 157
EXHIBIT 63 E-LEARNING MARKET IN US 2019–2025 ($ BILLION) .......................................................................................................... 158
EXHIBIT 64 E-LEARNING MARKET IN CANADA 2019–2025 ($ BILLION) ............................................................................................. 161
EXHIBIT 65 E-LEARNING MARKET IN APAC 2019–2025 .......................................................................................................................... 164
EXHIBIT 66 APAC E-LEARNING MARKET 2019–2025 ($ BILLION).......................................................................................................... 165
EXHIBIT 67 INTERNET & SMARTPHONE PENETRATION IN APAC...................................................................................................... 168
EXHIBIT 68 INCREMENTAL GROWTH IN APAC 2019 & 2025 .................................................................................................................. 172
EXHIBIT 69 E-LEARNING MARKET IN CHINA 2019–2025 ($ BILLION).................................................................................................. 174
EXHIBIT 70 E-LEARNING MARKET IN SOUTH KOREA 2019–2025 ($ BILLION)................................................................................... 176
EXHIBIT 71 E-LEARNING MARKET IN JAPAN 2019–2025 ($ BILLION) .................................................................................................. 178
EXHIBIT 72 E-LEARNING MARKET IN AUSTRALIA 2019–2025 ($ BILLION) ........................................................................................ 180
EXHIBIT 73 STRATEGIC POINTS FOR VENDORS IN AUSTRALIA MARKET ........................................................................................ 181
EXHIBIT 74 E-LEARNING MARKET IN INDIA 2019–2025 ($ BILLION) ................................................................................................... 183
EXHIBIT 75 E-LEARNING MARKET IN EUROPE 2019–2025 ...................................................................................................................... 186
EXHIBIT 76 EUROPE E-LEARNING MARKET 2019–2025 ($ BILLION) ..................................................................................................... 187
EXHIBIT 77 INCREMENTAL GROWTH IN EUROPE 2019 & 2025 ............................................................................................................. 193
EXHIBIT 78 E-LEARNING MARKET IN UK 2019–2025 ($ BILLION) ......................................................................................................... 194
EXHIBIT 79 E-LEARNING MARKET IN GERMANY 2019–2025 ($ BILLION) ........................................................................................... 196
EXHIBIT 80 E-LEARNING MARKET IN FRANCE 2019–2025 ($ BILLION) ............................................................................................... 198
EXHIBIT 81 E-LEARNING MARKET IN NORDICS 2019–2025 ($ BILLION) ............................................................................................. 200
EXHIBIT 82 EMERGING ED-TECH VENDORS IN NORDICS (ACADEMIC & K-12) .............................................................................. 201
EXHIBIT 83 E-LEARNING MARKET IN SPAIN 2019–2025 ($ BILLION) ................................................................................................... 202
EXHIBIT 84 E-LEARNING MARKET IN LATIN AMERICA 2019–2025...................................................................................................... 205
EXHIBIT 85 LATIN AMERICA E-LEARNING MARKET 2019–2025 ($ BILLION)..................................................................................... 206
EXHIBIT 86 INCREMENTAL GROWTH IN LATIN AMERICA 2019 & 2025 ............................................................................................. 211
EXHIBIT 87 E-LEARNING MARKET IN BRAZIL 2019–2025 ($ BILLION) ................................................................................................. 212
EXHIBIT 88 STUDENTS ENROLLMENT BY INSTITUTIONS IN BRAZIL 2018 ........................................................................................ 213
EXHIBIT 89 MAJOR EDUCATION FAIRS HELD IN BRAZIL 2018 ............................................................................................................. 214
EXHIBIT 90 E-LEARNING MARKET IN MEXICO 2019–2025 ($ BILLION) ............................................................................................... 215
EXHIBIT 91 E-LEARNING MARKET IN ARGENTINA 2019–2025 ($ BILLION) ....................................................................................... 217
EXHIBIT 92 E-LEARNING MARKET IN CHILE 2019–2025 ($ BILLION) ................................................................................................... 219
EXHIBIT 93 E-LEARNING MARKET IN MIDDLE EAST &AFRICA 2019–2025 ........................................................................................ 222
EXHIBIT 94 E-LEARNING MARKET IN MIDDLE EAST 2019–2025 ($ BILLION)..................................................................................... 225
EXHIBIT 95 INCREMENTAL GROWTH IN MIDDLE EAST & AFRICA 2019 & 2025 .............................................................................. 230
EXHIBIT 96 E-LEARNING MARKET IN GCC 2019–2025 ($ BILLION) ....................................................................................................... 231

E-LEARNING MARKET
EXHIBIT 97 E-LEARNING MARKET IN SOUTH AFRICA 2019–2025 ($ BILLION).................................................................................. 233

EXHIBIT 98 LMS PRODUCTS: FACTORS FOR GAINING USERBASE ..................................................................................................... 237
EXHIBIT 99 PACKAGED CONTENT: FACTORS FOR GAINING USERBASE .......................................................................................... 238

E-LEARNING MARKET
LIST OF TABLES
TABLE 1 KEY CAVEATS ................................................................................................................................................................................ 25
TABLE 2 CURRENCY CONVERSION 2013−2019 ....................................................................................................................................... 26
TABLE 3 LIST OF COUNTRIES SUFFERING EDUCATION DISRUPTION DUE TO COVID-19 ......................................................... 48
TABLE 4 SECTORIAL ANALYSIS OF EMPLOYMENT RISK DUE TO COVID-19 ................................................................................. 58
TABLE 5 RATINGS FOR PROMINENT TRENDS CHARACTERIZING E-LEARNING MARKET ...................................................... 66
TABLE 6 INVESTMENTS OF MAJOR COMPANIES IN LANGUAGE LEARNING MARKET ............................................................ 78
TABLE 7 PROMINENT ED-TECH INVESTMENTS .................................................................................................................................... 79
TABLE 8 INTERNET QUALITY STATISTICS OF SELECT COUNTRIES ................................................................................................. 89
TABLE 9 GLOBAL E-LEARNING MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ............................................................. 106
TABLE 10 GLOBAL PACKAGED CONTENT MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .................................................. 108
TABLE 11 GLOBAL LMS MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ..................................................................................... 110
TABLE 12 GLOBAL OTHER DELIVERY MODES MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ........................................... 112
TABLE 13 GLOBAL E-LEARNING MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ........................................................... 116
TABLE 14 GLOBAL SELF-PACED MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ..................................................................... 118
TABLE 15 GLOBAL INSTRUCTOR-LED MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .......................................................... 120
TABLE 16 GLOBAL E-LEARNING MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION).............................................................. 124
TABLE 17 GLOBAL TRAINING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ......................................................................... 126
TABLE 18 GLOBAL TESTING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ............................................................................ 128
TABLE 19 GLOBAL E-LEARNING MARKET BY END-USERS 2019–2025 ($ BILLION) ....................................................................... 133
TABLE 20 GLOBAL CORPORATE E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION)........................................... 136
TABLE 21 GLOBAL HIGHER EDUCATION E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .......................... 138
TABLE 22 GLOBAL K-12 E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ........................................................... 140
TABLE 23 GLOBAL GOVERNMENT E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ...................................... 142
TABLE 24 GLOBAL VOCATIONAL E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ........................................ 144
TABLE 25 GLOBAL E-LEARNING MARKET BY GEOGRAPHY 2019–2025 ($ BILLION) .................................................................... 149
TABLE 26 NORTH AMERICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION)..................................................................... 155
TABLE 27 NORTH AMERICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ................................................................... 155
TABLE 28 NORTH AMERICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ..................................................................... 155
TABLE 29 NORTH AMERICA MARKET BY END-USERS 2019–2025 ($ BILLION) ............................................................................... 156
TABLE 30 ROLE OF GOVERNMENT AGENCIES AIDING E-LEARNING IN APAC........................................................................... 167
TABLE 31 APAC MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ............................................................................................ 170
TABLE 32 APAC MARKET BY LEARNING MODE 2019–2025 ($ BILLION) .......................................................................................... 170
TABLE 33 APAC MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION)............................................................................................. 170
TABLE 34 APAC MARKET BY END-USERS 2019–2025 ($ BILLION) ...................................................................................................... 171
TABLE 35 END-USER SEGMENT IN INDIA OVERVIEW 2018 ................................................................................................................ 184
TABLE 36 EUROPE MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ....................................................................................... 191
TABLE 37 EUROPE MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ..................................................................................... 191
TABLE 38 EUROPE MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ........................................................................................ 191
TABLE 39 EUROPE MARKET BY END-USERS 2019–2025 ($ BILLION) .................................................................................................. 192
TABLE 40 LATIN AMERICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ....................................................................... 209
TABLE 41 LATIN AMERICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ..................................................................... 209
TABLE 42 LATIN AMERICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION)........................................................................ 209
TABLE 43 LATIN AMERICA MARKET BY END-USERS 2019–2025 ($ BILLION) ................................................................................. 210
TABLE 44 MIDDLE EAST & AFRICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ........................................................ 228
TABLE 45 MIDDLE EAST & AFRICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ....................................................... 228
TABLE 46 MIDDLE EAST & AFRICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ......................................................... 228
TABLE 47 MIDDLE EAST & AFRICA MARKET BY END-USERS 2019–2025 ($ BILLION) ................................................................... 229

E-LEARNING MARKET
TABLE 48 APOLLO EDUCATION GROUP: MAJOR PRODUCT OFFERINGS ...................................................................................... 241

TABLE 49 BLACKBOARD LEARN: MAJOR PRODUCT OFFERINGS ..................................................................................................... 243
TABLE 50 BRITISH COUNCIL: MAJOR PRODUCT OFFERINGS ............................................................................................................ 245
TABLE 51 ORACLE: MAJOR PRODUCT OFFERINGS............................................................................................................................... 247
TABLE 52 PEARSON: MAJOR PRODUCT OFFERINGS ............................................................................................................................ 251
TABLE 53 DOCEBO: MAJOR PRODUCT OFFERINGS .............................................................................................................................. 253
TABLE 54 MCGRAW-HILL: MAJOR PRODUCT OFFERINGS ................................................................................................................. 254
TABLE 55 APTARA: MAJOR PRODUCT OFFERINGS .............................................................................................................................. 255
TABLE 56 DESIRE2LEARN: MAJOR PRODUCT OFFERINGS ................................................................................................................. 255
TABLE 57 DESIRE2LEARN: MAJOR PRODUCT OFFERINGS ................................................................................................................. 256
TABLE 58 SKILLSOFT: MAJOR PRODUCT OFFERINGS .......................................................................................................................... 257
TABLE 59 CENGAGE: MAJOR PRODUCT OFFERINGS ........................................................................................................................... 258
TABLE 60 MACMILLAN: MAJOR PRODUCT OFFERINGS ..................................................................................................................... 259
TABLE 61 CORNERSTONE ONDEMAND: MAJOR PRODUCT OFFERINGS ....................................................................................... 260
TABLE 62 EDUCOMP: MAJOR PRODUCT OFFERINGS........................................................................................................................... 261
TABLE 63 KROTON: MAJOR PRODUCT OFFERINGS.............................................................................................................................. 263
TABLE 64 TELEFONICA: MAJOR PRODUCT OFFERINGS ...................................................................................................................... 264
TABLE 65 INSTRUCTURE: MAJOR PRODUCT OFFERINGS ................................................................................................................... 265
TABLE 66 EDX: MAJOR PRODUCT OFFERINGS ....................................................................................................................................... 266
TABLE 67 ENGLISH ATTACK: MAJOR PRODUCT OFFERINGS ............................................................................................................ 266
TABLE 68 ESTACIO: MAJOR PRODUCT OFFERINGS .............................................................................................................................. 267
TABLE 69 COURSERA: MAJOR PRODUCT OFFERINGS ......................................................................................................................... 268
TABLE 70 LATTITUDE: MAJOR PRODUCT OFFERINGS......................................................................................................................... 268
TABLE 71 LITMOS: MAJOR PRODUCT OFFERINGS ................................................................................................................................ 269
TABLE 72 OPEN ENGLISH: MAJOR PRODUCT OFFERINGS ................................................................................................................. 270
TABLE 73 VEDUCA: MAJOR PRODUCT OFFERINGS .............................................................................................................................. 270
TABLE 74 LINKEDIN: MAJOR PRODUCT OFFERINGS ........................................................................................................................... 271
TABLE 75 SIMPLILEARN: MAJOR PRODUCT OFFERINGS .................................................................................................................... 272
TABLE 76 THINK AND LEARN: MAJOR PRODUCT OFFERINGS ......................................................................................................... 272
TABLE 77 SWEETRUSH: MAJOR PRODUCT OFFERINGS ....................................................................................................................... 273
TABLE 78 UPGRAD: MAJOR PRODUCT OFFERINGS .............................................................................................................................. 273
TABLE 79 LEQUEST: MAJOR PRODUCT OFFERINGS ............................................................................................................................. 274
TABLE 80 FUTURELEARN: MAJOR PRODUCT OFFERINGS.................................................................................................................. 275
TABLE 81 LEARN2PLAY: MAJOR PRODUCT OFFERINGS ..................................................................................................................... 275
TABLE 82 LEARN2PLAY: MAJOR PRODUCT OFFERINGS ..................................................................................................................... 276
TABLE 83 BRIGHT LITTLE LABS: MAJOR PRODUCT OFFERINGS ....................................................................................................... 277
TABLE 84 AULA EDUCATION: MAJOR PRODUCT OFFERINGS .......................................................................................................... 277
TABLE 85 WHITEHAT SECURITY: MAJOR PRODUCT OFFERINGS ..................................................................................................... 278
TABLE 86 BLINKIST: MAJOR PRODUCT OFFERINGS ............................................................................................................................. 278
TABLE 87 AVETI LEARNING: MAJOR PRODUCT OFFERINGS ............................................................................................................. 279
TABLE 88 AGE OF LEARNING: MAJOR PRODUCT OFFERINGS .......................................................................................................... 280
TABLE 89 LEARNETIC: MAJOR PRODUCT OFFERINGS ........................................................................................................................ 280
TABLE 90 ELEARN AUSTRALIA: MAJOR PRODUCT OFFERINGS ....................................................................................................... 281
TABLE 91 360 LEARNING: MAJOR PRODUCT OFFERINGS ................................................................................................................... 281
TABLE 92 KHAN ACADEMY: MAJOR PRODUCT OFFERINGS ............................................................................................................. 282
TABLE 93 UDEMY: MAJOR PRODUCT OFFERINGS ................................................................................................................................ 283
TABLE 94 SKILLSHARE: MAJOR PRODUCT OFFERINGS....................................................................................................................... 283
TABLE 95 UDACITY: MAJOR PRODUCT OFFERINGS ............................................................................................................................. 284
TABLE 96 PLURALSIGHT: MAJOR PRODUCT OFFERINGS ................................................................................................................... 285

E-LEARNING MARKET
TABLE 97 ALISON: MAJOR PRODUCT OFFERINGS ................................................................................................................................ 286

TABLE 98 BABBEL: MAJOR PRODUCT OFFERINGS ................................................................................................................................ 286
TABLE 99 TREEHOUSE: MAJOR PRODUCT OFFERINGS ....................................................................................................................... 287
TABLE 100 TREEHOUSE: MAJOR PRODUCT OFFERINGS ....................................................................................................................... 287
TABLE 101 DUOLINGO: MAJOR PRODUCT OFFERINGS ......................................................................................................................... 288
TABLE 102 GLOBAL E-LEARNING MARKET BY GEOGRAPHY 2019–2025 ($ BILLION) .................................................................... 292
TABLE 103 GLOBAL E-LEARNING MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ............................................................. 292
TABLE 104 GLOBAL PACKAGED CONTENT MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .................................................. 292
TABLE 105 GLOBAL LMS MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ..................................................................................... 293
TABLE 106 GLOBAL OTHER DELIVERY MODES MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ........................................... 293
TABLE 107 GLOBAL E-LEARNING MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ........................................................... 294
TABLE 108 GLOBAL SELF-PACED MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ..................................................................... 294
TABLE 109 GLOBAL INSTRUCTOR-LED MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .......................................................... 294
TABLE 110 GLOBAL E-LEARNING MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION).............................................................. 295
TABLE 111 GLOBAL TRAINING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ......................................................................... 295
TABLE 112 GLOBAL TESTING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ............................................................................ 295
TABLE 113 GLOBAL E-LEARNING MARKET BY END-USERS 2019–2025 ($ BILLION) ....................................................................... 296
TABLE 114 GLOBAL CORPORATE E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION)........................................... 296
TABLE 115 GLOBAL HIGHER EDUCATION E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) .......................... 296
TABLE 116 GLOBAL K-12 E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ MILLION).......................................................... 297
TABLE 117 GLOBAL GOVERNMENT E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ...................................... 297
TABLE 118 GLOBAL VOCATIONAL E-LEARNING MARKET BY GEOGRAPHY 2019−2025 ($ BILLION) ........................................ 297
TABLE 119 NORTH AMERICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION)..................................................................... 298
TABLE 120 NORTH AMERICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ................................................................... 298
TABLE 121 NORTH AMERICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ..................................................................... 298
TABLE 122 NORTH AMERICA MARKET BY END-USERS 2019–2025 ($ BILLION) ............................................................................... 299
TABLE 123 APAC MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ............................................................................................ 299
TABLE 124 APAC MARKET BY LEARNING MODE 2019–2025 ($ BILLION) .......................................................................................... 299
TABLE 125 APAC MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION)............................................................................................. 300
TABLE 126 APAC MARKET BY END-USERS 2019–2025 ($ BILLION) ...................................................................................................... 300
TABLE 127 EUROPE MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ....................................................................................... 300
TABLE 128 EUROPE MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ..................................................................................... 301
TABLE 129 EUROPE MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ........................................................................................ 301
TABLE 130 EUROPE MARKET BY END-USERS 2019–2025 ($ BILLION) .................................................................................................. 301
TABLE 131 LATIN AMERICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ....................................................................... 302
TABLE 132 LATIN AMERICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ..................................................................... 302
TABLE 133 LATIN AMERICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION)........................................................................ 302
TABLE 134 LATIN AMERICA MARKET BY END-USERS 2019–2025 ($ BILLION) ................................................................................. 303
TABLE 135 MIDDLE EAST & AFRICA MARKET BY DELIVERY MODE 2019–2025 ($ BILLION) ........................................................ 303
TABLE 136 MIDDLE EAST & AFRICA MARKET BY LEARNING MODE 2019–2025 ($ BILLION) ....................................................... 303
TABLE 137 MIDDLE EAST & AFRICA MARKET BY FUNCTION TYPE 2019–2025 ($ BILLION) ......................................................... 304
TABLE 138 MIDDLE EAST & AFRICA MARKET BY END-USERS 2019–2025 ($ BILLION) ................................................................... 304

E-LEARNING MARKET
ABOUT US
Arizton Advisory & Intelligence
A
rizton Advisory & Intelligence Our team of experts ensures the analysis is not
provides competitive and insightful just analyzed and presented but also
business intelligence across various customized depending on the client’s
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knowledge ensure that the analysis provided is intelligence, we ensure our clients do not look
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Our employment base is spread across the
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in adopting best
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insights
AT A GLANCE

E-LEARNING MARKET
1 RESEARCH METHODOLOGY
This step involves identification of several

primary and secondary data research
sources, including Arizton’s internal data
sources. The primary sources consist of
Identification in-depth discussions and interviews with
of data policy makers, industry experts, and data
evaluators, whereas secondary sources
include a thorough study of market
journals, press releases, annual reports,
and government and non-government
agencies websites.
This phase includes a detailed evaluation

of several factors that are likely to affect
the market dynamics. It involves a Evaluation of
comprehensive assessment of major
market pain points, drivers, and trends. It
Market Dynamics
also comprises a detailed study of
research plans and methodology.
This process consists of gathering data,

accessing proprietary databases, and
reaching out to key industry participants
Collection of Data that operate in the market across the value
chain. It also involves studying several
patterns in the historical data and
comparing it with the current scenario.
This stage involves the validation of data

and arrival at actual statistics, and
evolution of the market over the years. It
entails the study and analyzes various
Collaboration of
segments and verticals of the market. An Data
impact analysis is also performed to
observe which factors will affect the
market in the next few years.
This is the final stage, which involves both

quantity and quality checks. Although the
Verification and process of data verification is an integral
Analysis part of the research process, all data points
and statistics and figures are re-checked to
uphold their authenticity and validity.

E-LEARNING MARKET
2 RESEARCH OBJECTIVES
To outline and forecast the e- To offer wide-ranging

learning market based on market statistics with
delivery mode, learning mode, detailed classification along
function type, end-users and with the respective market
geography size of each segment
To analyze several
micro-market indicators
To provide comprehensive
considering growth factors,
information about factors that
market prospects, and
affect market dynamics
contribution to the market
strategically
To study market To examine the competitive

opportunities for scenario such as joint
participants and collaborations, mergers and
stakeholders by identifying acquisitions, R&D activities,
high growth sectors in the and advanced development
global market
in the market
To predict the market To analyze key strengths,

size in geographical opportunities, and strategies
regions: APAC, Europe,
Latin America, Middle of major companies
East, Africa, and North operating in the market
America

E-LEARNING MARKET
3 RESEARCH PROCESS
CLIENT SPECIFICATIONS BACKGROUND STUDY

Secondary Research
Review and analyze client
Data collections from
requisites
Company Annual Reports
Discussion of all the project PROJECT
Associations
requirements and queries SCOPE
Journals
FLEXIBILITY CHECK
Magazines
Perform through feasibility Regulatory Bodies
research
Analyst Reports
Finalizing tentative project design Other Paid Wall Source
PROJECT
Structuring project proposal with Press releases
KICKOFF
scope, timeline and pricing Conferences
Blogs
Newsletters
White Papers
Primary Research
Research discussion with
PRELIMINARY manufacturers, distributors,
RESEARCH suppliers, regulatory associations,
Analyzing market dynamics end-user to validate insights
Determination of key drivers, Validation and triangulation of
restraints influencing market secondary and primary research
data
Monitoring market trends
Market size estimation &
MARKET
forecast
ANALYSIS &
Estimation of historical market SEGMENTATION
revenues based on secondary data
and primary insights
Anticipating market recast by Data collation
assigning weightage to market
forces (drivers, restraints, Cumulating all the essential
opportunities) qualitative and quantitative data
REPORT
Freezing historical and forecast SYNTHESIS Generation of report in client
market size estimations based on requested format by research
evolution, trends, outlook and analysts
strategies
Reviews by expert analysts
Consideration of geography
specific revenues, region-specific Proof-reading by editors
product/service demand for Report formatting by specialist
geographic market segmentation REPORT
graphic designers
DELIVERY
Consideration of product Final quality check
utilization rates, product demand
outlook for segmentation by
application or
end-user type
Clarifying queries (if any)
POST-SALE Receiving feedback
SERVICE
Ensuring satisfaction
Future research scope initiations

E-LEARNING MARKET
4 SCOPE & COVERAGE

4.1 MARKET DEFINITION
In the context of this report, e-learning refers to training as well as testing services
conducted or shared through the internet. The report considers the scope and
revenue generated by several stakeholders through the sale of pre-designed
courseware and subscription platforms that are meant to administer, document,
deliver, track, and report various online courses.
4.1.1 Inclusions
› All forms of e-learning
4.1.2 Exclusions
› Offline Learning and Education Sector
4.2 BASE YEAR
The report considers 2019 as the base year. All calculations involving
quantitative data are based on 2019. The values represented in the report are actual
values for 2019, whereas, the values are estimated for the period 2020−2025.
2019 2020 2020-2025
Base Year Actual Year Forecast Period

E-LEARNING MARKET
4.3 SCOPE OF THE STUDY

The report considers the present scenario of the e-learning market and its market
dynamics for the period 2020−2025. It covers a detailed overview of several market
growth enablers, restraints, and trends. The study covers both the demand and
supply side of the market. It also profiles and analyzes leading companies and
several other prominent companies operating in the market
Exhibit 1 Segmentation of Global E-learning Market
MARKETS COVERED
BY DELIVERY MODE BY LEARNING MODE BY FUNCTION BY END-USERS BY GEOGRAPHY
1. Packaged Content 1. Self-paced 1. Training 1. K-12 1. North America

2. LMS 2. Instructor-led 2. Testing 2. Higher Education 1. US
3. Others 3. Corporate 2. Canada
4. Government 2. Europe
5. Vocational 1. UK
2. Germany
3. France
4. Nordics
5. Spain
3. APAC
1. China
2. South Korea
3. Japan
4. Australia
5. India
4. Latin America
1. Brazil
2. Mexico
3. Argentina
4. Chile
5. MEA
1. GCC
2. South Africa
Source: Arizton

E-LEARNING MARKET
4.4 MARKET SEGMENTS

4.4.1 Delivery Mode
› Packaged Content: They consist of online courseware with extensive content that is
predesigned to cater to a wide audience.
› Learning Management Software (LMS): They are software applications for the
administration, documentation, delivery, tracking, and reporting of the curriculum or
testing content.
› Others: They include highly gamified collaborative learning applications that are
designed for learning rather than entertainment.
4.4.2 Learning Mode
› Self-paced: A courseware that can be rolled out to a large group of people across the
world in a short span and can be accessed according to the learner’s convenience and
suitability.
› Instructor-led: A courseware whose content is limited both in terms of the number of

people and roll-out speed and requires an instructor for content delivery.
4.4.3 Market Segmentation by Function
› Training: It involves the exchange of courseware, self-paced learning content, and

instructor-driven hybrid learning material.
› Testing: It refers to pure-play testing and examination services conducted via online and
digital platforms.
4.4.4 End-users
› K-12: Kinder Garden to Class 12
› Higher Education: Education at the level of universities or similar establishments
› Corporates: Corporations around the globe that deploy language-learning solutions
› Government: Federal and state programs and institutions designed to adopt or

encourage e-learning
› Vocational: Voluntary learners and immigrants including refugees and job migrants

E-LEARNING MARKET
4.4.6 Market Segmentation by Geography
KEY GEOGRAPHIES
Europe
North
America
Middle East & Africa
APAC
Latin
America
NORTH LATIN MIDDLE EAST &

EUROPE APAC
AMERICA AMERICA AFRICA
› Canada › Argentina › Austria › Congo › Australia

› US › Brazil › France › Egypt › Bangladesh
› Chile › Germany › Oman › Indonesia
› Mexico › Italy › Qatar › Japan
› Peru › Poland › Kuwait › New Zealand
› Colombia › Spain › Israel › Pakistan
› Venezuela › Portugal › Kenya › China & SAR
› Caribbean › Romania › Turkey › India
› Rest of Latin › Russia › UAE › Malaysia
America › Sweden › Nigeria › South Korea
› UK › Saudi Arabia › Singapore
› Netherlands › South Africa › Vietnam
› Denmark › Algeria › Philippines
› Rest of › Morocco › Thailand
Europe › Rest of MEA › Taiwan
› Rest of APAC

E-LEARNING MARKET
5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS
Table 1 Key Caveats
PARAMETERS ASSUMPTIONS
While forecasting the market outlook, no macroeconomic

Economic collapses and recessions are predicted about the global
Outlook economic landscape
Market forecasting was carried out under the assumption

Currency that the value of the USD ($) is likely to remain constant
Fluctuation during the forecast period
While arriving at the market size, the global political

Political environment was assumed to remain stable during the
Outlook forecast period
Revenues and segment-specific information were derived

Data from annual reports of respective companies. The information
Authenticity is assumed to be authentic. However, revenues for the non-
listed companies were derived from various authentic
All figures mentioned in the study were rounded to the

Accuracy nearest decimal place. Thus, the summation of figures and
& Reporting percentages may differ by a margin of 0.01
This report provides a list of vendors, which are active in the market. It
includes vendors across all geographical regions. The report identifies
vendors on the based on their market revenue and dominance in terms
Vendor of market experience, regional presence, the portfolio of their products,
financials, expenses on R&D activities, and the popularity of their
brands

E-LEARNING MARKET
5.2 CURRENCY CONVERSION

The standard currency used throughout the report is the USD ($). However, in the
case of other currencies, the annual average currency rate (January 1 to December 31)
is used for conversion. These conversion rates are rounded to the nearest decimal
place. The chart below represents the standard conversion rates used in the report.
Table 2 Currency Conversion 2013−2019
Currency
2013 2014 2015 2016 2017 2018 2019
Conversion
/ USD/EUR 0.7532 0.7535 0.8969 0.8988 0.8605 0.8566 0.8914
/ USD/GBP 0.6395 0.6072 0.6526 0.7309 0.7607 0.7586 0.7860
/ USD/JPY 98.58 105.84 120.9 107.5269 113.8867 111.0019 109.0025
/₭ USD/SEK 6.5127 6.8587 8.404 8.9328 8.4135 8.8826 9.4494
/A$ USD/AUD 1.0362 1.1094 1.3112 1.343 1.3042 1.3578 1.4354
USD/RMB
/ (CNY)
6.1905 6.1432 6.1606 6.61 6.6294 6.6675 6.8926
Source: Arizton
*The above exchange rate is the mean of month-end exchange rates computed for the last 12 months

E-LEARNING MARKET
5.3 MARKET DERIVATION
Exhibit 2 Market Size Calculation Approach 2019
1 2 3
Global Total Estimated Market Global E-
Education Share of Major Learning
Market Vendors Offering Market
Digital and Online
Learning Content,
Courses, Learning
Materials, and
Platforms
The chart above shows the approach adopted to arrive at the market size of the global
market in 2019 and the segments that are considered to derive the market value.
› Market size figures are primarily arrived through the bottom-up approach and are then
validated through the top-down approach
› Sales of major product/service providers were aggregated to arrive at an estimate of the

market size in terms of revenue. The same approach was used to calculate the market size
in terms of volume. An estimated 85–90% of vendors’ capacities are mapped and
considered in the report calculations
› Segmental volumes were calculated through the bottom approach, which involves the
analysis of segment-wise financials of the key market players. The data is either derived
from their annual filings or through primary research in the absence of the former.
› Price trends for key related commodities were analyzed for the past few years and given
due consideration to derive the projections for the forthcoming six years using a set of
forecasting techniques.

E-LEARNING MARKET
› Also, innovation and R&D efforts of several market players were studied and weighed in
before arriving at the projections as they can potentially disrupt the market both in terms
of consumption and purchasing patterns.
› The effect of several macroeconomic and meso factors is also considered at each interval
while arriving at the forecast.

E-LEARNING MARKET
MARKET AT A GLANCE
E-LEARNING MARKET
6 MARKET AT A GLANCE
MARKET SIZE
INSIGHTS 01 (REVENUE)
CAGR
2019–2025
14.08%
$345.28 BN
$251.16 BN
$156.68 BN
2019 2022 2025

E-LEARNING MARKET
GEOGRAPHICAL SEGMENTATION
INSIGHTS 02 (2019)
REGION MARKET SIZE CAGR
EUROPE $28.14 BN 9.86%
APAC $48.96 BN 19.20%
NORTH AMERICA $71.22 BN 11.84%
LATIN AMERICA $5.72 BN 10.15%
MIDDLE EAST & AFRICA $2.64 BN 13.78%

E-LEARNING MARKET
EUROPE
INSIGHTS 03 (2019)
COUNTRY MARKET SIZE CAGR
UK $6.22 BN 7.44%
GERMANY $5.38 BN 8.82%
FRANCE $4.02 BN 10.22%
NORDICS $3.06 BN 11.19%
SPAIN $2.71 BN 12.38%

E-LEARNING MARKET
NORTH AMERICA
INSIGHTS 04 (2019)
US $57.66 BN 11.66%
CANADA $13.56 BN 12.60%

E-LEARNING MARKET
LATIN AMERICA
INSIGHTS 05 (2019)
BRAZIL $1.37 BN 11.53%
MEXICO $0.88 BN 10.24%
ARGENTINA $0.75 BN 10.17%
CHILE $0.47 BN 9.25%

E-LEARNING MARKET
MIDDLE EAST & AFRICA

INSIGHTS 06 (2019)
GCC $1.44 BN 14.76%
SOUTH AFRICA $0.41 BN 16.69%

E-LEARNING MARKET
ASIA PACIFIC
INSIGHTS 07 (2019)
CHINA $11.18 BN 23.32%
SOUTH KOREA $7.95 BN 19.61%
JAPAN $6.45 BN 18.68%
AUSTRALIA $4.78 BN 17.55%
INDIA $4.12 BN 26.23%

E-LEARNING MARKET
LEARNING MODE SEGMENTATION

INSIGHTS 08 (2019)
SELF-PACED
$94.44 BN
INSTRUCTOR-LED
$62.24 BN

E-LEARNING MARKET
FUNCTION TYPE SEGMENTATION

INSIGHTS 09 (2019)
PRODUCT TYPE
SEGMENTATION
TRAINING TESTING
$113.23 BN $43.45 BN

E-LEARNING MARKET
END-USERS SEGMENTATION
INSIGHTS
INSIGHTS 10
17 DELIVERY
(2019)
MODE SEGMENTATION
(2019)
K-12 HIGHER EDUCATION

$34.72 BN $38.36 BN
PRODUCT TYPE
SEGMENTATION
PACKAGED CONTENT LMS

$92.40 BN $39.47 BN
CORPORATE GOVERNMENT
$47.41 BN $19.91 BN
OTHERS
$24.81 BN
VOCATIONAL
$16.29 BN

E-LEARNING MARKET
DELIVERY MODE
INSIGHTS 11 (2019)
PRODUCT TYPE
SEGMENTATION
PACKAGED CONTENT LMS

92.40 BN 39.47 BN
OTHERS
24.81 BN

E-LEARNING MARKET
MARKET OPPORTUNITIES
INSIGHTS 12 & TRENDS
1
Increase in Use of Mobile Applications and Social Media
The growth of social media has spurred the emergence of new education
paradigms to promote hybrid and online learning. In emerging countries,
traditional higher education institutions are facilitating important discussions
to determine ways to incorporate online and informal learning to derive better
engagement and student reach. These engagement levels and flexibility are
getting decentralized.
2
Growth in Blended Learning in Education Technology
Blended learning or mixed modes of learning is a method of learning in which
a part of pedagogy involves the usage of digital mediums for content creation
and customization. Moreover, a user can exercise an element of control on
path, place, and pace of the content delivery. This mode of learning
incorporates both the classroom way of teaching and digital modes, which not
only makes the service delivery more engaging but also effective.
3
Increasing Use of AR & VR Applications in E-learning
Ed-Tech startups with deployments of AR and VR would continue to attract
investor’ interest since the market is still termed to be in the nascent growth stage
with vast untapped business opportunities. It is set to grow at least 20-fold
during the forecast period, driven by the diversification of conventional ed-tech
players and corporate investment interests.

E-LEARNING MARKET
INSIGHTS 13 MARKET ENABLERS
1
High Internet Penetration & Internet-enabled Devices
The fundamental drivers for the e-learning market are the growing internet
penetration and the increasing mobile and smartphone penetration. This has
not only revolutionized the delivery mode of content but also has evolved
these methods by continuously improving bandwidths and reducing data
prices.
2
Growth in Global Workforce and Migration of Skilled Labor
The migration of skilled resources from developing to developed countries
has been in practice since several decades and is one of the major
contributors to language learning across the world. The US is the most
preferred destination for international migration, thereby making English as
the most learnt language. The need for language acclimatization and training
tools for the talent in these business process outsourcing activities is driving
the demand for cost-effective e-learning solutions.
3
Digitization Initiatives in Learning & Training
Digitization initiatives have gained importance around the world both in the
government and private sectors. Schools and governments are undertaking
ambitious implementation plans pertaining to online tutoring, digital
content delivery, and conversion of existing learning content into the digital
format. Primary and secondary education curriculum in emerging countries
are being re-designed to emphasize upon both functional and soft skills in
order to meet the global academic standards.
4
Perennial Private Investments in Digital Language Learning
Driven by strong fundamentals for the language learning market in terms of
market opportunity and growth, there has been a rise in both the number of
vendors venturing into language training and creation of learning platforms,
thereby garnering investor interests in these ventures.

E-LEARNING MARKET
INSIGHTS 14 MARKET RESTRAINTS
Growing Demand for Continuous Product Innovations

While product innovation can be termed to be good for the market to stay relevant
and competitive in the long run, a continuously evolving consumer mindset,
coupled with frequent overhauls of technologies and interfaces, will result in cost
overheads in the short term, rendering several platforms irrelevant. Vendors will
be forced to optimize resources between scaling up the business and investing on
perennial product development.
Variability in Hardware & Software

As the conformity among electronic devices by operating systems and hardware
build reduces, the challenge pertaining to maintenance and upgrading will be on
the rise. Whenever an upgrade has to be implemented, enough care has to be
taken to ensure its compatibility with not only existing established devices but
also with the newly launched models. While the version and variability in OS is
one such issue in mobile phones and personal computers, the rapid evolution in
scripting languages is another major challenge.
Limited Access to Closed Markets & Platforms

Gaining access to enterprises and educational institutions in markets other than
the base country poses cultural and market challenges for vendors. The mandate,
therefore, requires partnering with local firms in those markets to gain easy
market entry and capitalize on the captive customer base of partners. With an
increase in the number of vendors and offerings in the market, these local partners
tend to align with those who can potentially offer them high monetary benefits in
a short time.
Inadequate Internet Bandwidth in Developing Countries

E-learning and cloud-based solutions require high internet bandwidth. The
internet bandwidth in developing countries still poses a challenge for the
seamless use of applications hosted on the cloud. The optimization of
applications to run on low bandwidth offers rise to further customization,
thereby increasing the developmental cost.
Lack of Viable Revenue & Monetization

With the growing gamut of applications, providers will need to differentiate
themselves and come up with innovative revenue models in this segment. One of
the strategic routes could be to develop networks and further expand this network
to encompass learners, content developers, tutors, and service providers in the
platform. Subsidizing learning is the only way to attract learners to the platform.

E-LEARNING MARKET
INTRODUCTION
E-LEARNING MARKET
7 INTRODUCTION
7.1 OVERVIEW
Continuous learning requirements for students and professionals, which are driven
by sweeping trends over the past two decades due to globalization, talent migration,
and consistent improvements in corporate competencies and individual talent
grooming, have increased the scope of the e-learning market. With rapid
globalization, there has been increased mobility of human capital in industries,
including tourism, trade, media,
international relations, and The global e-learning market is
science & technology. Therefore, expected to witness an absolute
there is a need to acquire growth of 120%, reaching revenue of
functional and vocational skills $345 billion by 2025.
effectively over a short period
and in a cost-effective manner.
While conventional learning and training methods cater to most needs, they are
ineffective in meeting the dynamic learners’ requirements, especially in the rapidly
expanding learner segment.
Exhibit 3 Key E-leaning Courses Consumers are looking for
Source: Arizton
Since e-learning has posted several strides in the adoption of digital learning
platforms, the scope of the internet in education has expanded from content delivery
to interactive learning platforms, language training, functional skill development,

E-LEARNING MARKET
proficiency testing, and higher education pedagogy, video streaming of classes to

corporate training, talent management, and e-governance.
Exhibit 4 Top 5 E-learning Market in 2019
WORLD’S TOP 5 E-LEARNING MARKET

2019-2025
5
JAPAN
$6 Billion
There has been growing emphasis
of business for adoption of self-
paced learning tools and
courseware complemented with
instructor-led learning mode. SOUTH KOREA
$8 Billion
South Korea is amongst the leading
countries in terms of new
enrollments as well as renewals for
e-learning solutions
4
CHINA
3
$11 Billion
Growing private investments in the
country is supporting the growth of
e-learning market in China
CANADA
$14 Billion
US
$58 Billion
Canada is expected to witness a
rapid growth at a CAGR of
12.60% during the forecast period 2
1 US accounted for the largest market
for e-learning platform accounting
for 37% of the global revenue in
2019
Source: Arizton

E-LEARNING MARKET
Exhibit 5 COVID-19 Impact on Education 2020
COVID-19 IMPACT
ON EDUCATION
SYSTEM 2020
Country-wide School
Closures in 188
countries
1,576,021,818
learners affected
Over 63,000,000
educators affected
Source: Arizton
The COVID-19 outbreak has a staggering impact on the global education system.
Over a billion students worldwide are unable to attend their schools, universities,
due to the nationwide lockdown implemented as a measure to stop the global
outbreak. The pandemic, which is expected to have enormous economic
consequences, is likely to have a devastating impact on the global education system.

E-LEARNING MARKET
Approximately 1.6 billion or 80% of the worldwide students are being kept out of
educational institutes. At the epicenter of the COVID-19 impact, China, over 180
million school children are staying at home. E-learning is thus being adopted across
institutes as an effort to ensure the continued learning for children. In terms of
internet connectivity, most countries in Europe and Central Asia have the basic
capabilities that enable schools to deliver instruction using technology. Home
connectivity is also widespread across many countries, which is supporting the use
of technology.
In response to school closures, the UNESCO has recommended the use of distance
learning programs and open educational applications and platforms that schools and
teachers can use to reach learners remotely.
Table 3 List of Countries suffering Education Disruption due to COVID-19
Number of children Number of

enrolled in pre- learners enrolled
Countries primary to upper in tertiary Remark
secondary education
education programmes
ALBANIA 520,759 131,833 Schools are closed for two weeks.
AUSTRIA 1,278,170 430,370 Schools are closed.
Schools are closed but nurseries remain

BELGIUM 2,457,738 526,720
open.
BOSNIA AND
428,099 95,142 Both schools and universities are closed
HERZEGOVINA
BULGARIA 974,469 249,937 Both schools and universities are closed.
Chilean President Sebastian Pinera

announced that schools across the country
CHILE 3,652,100 1,238,992
would only close if confirmed cases of
coronavirus occur among students
China was the first country to mandate

school closures. Following the Spring
CHINA Festival holiday, China asked its nearly 200
(INCLUDING million students to stay at home and
233,169,621 42,266,464
HONG KONG continue their education online. According
AND MACAO) to the UNESCO, till 13 March China started
reopening schools although the majority
remain closed.
CROATIA 621,991 165,197 Both schools and universities are closed.
CZECH
1,715,890 352,873 Both schools and universities are closed.
REPUBLIC

E-LEARNING MARKET
DENMARK 1,185,564 312,379 Both schools and universities are closed.
Grades from 1st primary to 3rd preparatory

will do researches from home.1st and 2nd
EGYPT 23,157,420 2,914,473 secondary grades will take their exam from
home, while 3rd secondary students will
take their exam as usual in schools.
Salvadoran President Nayib Bukele ordered

all schools to close for three weeks,
EL SALVADOR 1,414,326 190,519
following similar measures in Peru and
Panama.
ESTONIA 224,987 47,794 Schools are closed.
Ethiopia has closed all schools and issued a

ETHIOPIA 23,929,322 757,175
ban on all public gatherings.
All schools and universities have been

FIJI 421,329 32,565
closed indefinitely.
FRANCE 12,929,509 2,532,831 Schools are closed.
GREECE 1,469,505 735,027 Both schools and universities are closed.
The country announced it would close

HONDURAS 2,018,314 266,908
schools for two weeks.
HUNGARY 1,504,740 2,87,018 Both schools and universities are closed.
ICELAND 80,257 17,967 Schools are closed.
On February 23, 2020, Iran's Ministry of

IRAN (ISLAMIC Health announced the closure of
14,561,998 4,073,827
REPUBLIC OF) universities, higher educational institutions,
and schools in several cities and provinces.
Schools, colleges, and childcare facilities are

IRELAND 1,064,091 255,031
closed nationwide till 19 April.
The country closed all schools and

ITALY 9,039,741 1,837,051
universities till March 15.
On February 27, 2020, Prime Minister

Shinzo Abe requested that all Japanese
elementary, junior high, and high schools
close until early April to contain the virus.
This decision came days after the education
board of Hokkaido called for the temporary
JAPAN 16,496,928
closure of its 1,600 public and private
schools. Nursery schools were excluded
from the nationwide closure request. Till 5
March 5, 2020, 98.8% of all municipally run
elementary schools complied with Abe's
request, resulting in 18,923 school closures.
JORDAN 2,051,840 320,896 On March 14, 2020, the Jordanian

government-imposed measures to fight the

E-LEARNING MARKET
outbreak, including a tight lockdown that

closes all borders and bans all incoming and
outgoing flights, closing schools and
universities for two weeks and banning
daily prayers in mosques. The minister of
Education announced launching TV
channels to broadcast lessons to high school
students. Private schools and universities
announced their schedules of online listens
using different channels.
LATVIA 313,868 82,914 Schools closed till April 14, 2020.
Lesotho declared a national emergency on

LESOTHO 313,868 82,914 March 18 and closed schools till April 17
(but allowed school meals to continue).
Nurseries are closed. Schools, colleges, and

LITHUANIA 460,257 125,863 universities implement distance learning
mode.
LUXEMBOURG 102,839 7,058 Schools are closed.
Schools and universities were closed from

MALAYSIA 6,677,157 1,284,876
March 18 to 3, 2020.
Several universities, including the UNAM

and Tec de Monterrey, switched to virtual
classes on March 13, 2020. The following
day, the Secretariat of Public Education
(SEP) announced that all sporting and civic
events in schools would be cancelled. Also,
on March 14, the Secretariat of Education
announced that Easter break, originally
planned from April 6 to 17, would be
extended from March 20 to April 20 as a
preventive measure. On March 14, the
Secretariat of Public Education (SEP)
MEXICO 33,159,363 4,430,248 announced that all sporting and civic events
in schools would be cancelled. Also, on
March 14, the Secretariat of Education
announced that Easter break, originally
planned from April 6 to 17, would be
extended from March 20 to April 20 as a
preventive measure. On the same day, the
Autonomous University of Nuevo León,
(UANL) (the country's third largest
university in terms of student population)
suspended classes for its more than 206,000
students from March 17 and ending until
further notice.
All schools were closed for a month on

March 14, 2020. Although this does not
NAMIBIA 689,520 56,046
automatically apply to universities, they
also suspended face-to-face teaching.

E-LEARNING MARKET
On March 12, all Dutch universities

NETHERLANDS 3,336,544 875,455 suspended physical teaching until April 01,
but online teaching continues.
NORTH
298,135 61,488 Both schools and nurseries are closed.
MACEDONIA
NORWAY 1,073,521 284,042 Schools are closed.
Panama's education minister Maruja

Gorday announced the suspension of classes
PANAMA 837,246 161,102 at public and private school throughout
most of the country starting on March 11
and extending through April 07.
PHILIPPINES 24,861,728 3,589,484 Both schools and universities are closed.
POLAND 6,003,285 1,550,203 Both schools and universities are closed.
PORTUGAL 2,028,254 346,963 Both schools and universities are closed.
REPUBLIC OF
498,881 87,277 Both schools and universities are closed.
MOLDOVA
ROMANIA F 2,951,879 Schools are closed.
On March 14, the Russian Ministry of

Education advised schools across the
country to adopt remote learning “as
appropriate.” The Moscow region
introduced flexible attendance policies at
area public schools and kindergartens,
however, all regular classes at schools
would continue normally and children who
elected to stay home at their parent’s
discretion would learn online. The following
day private schools in Moscow were urged
RUSSIA to suspend operations for two weeks while
several schools located within foreign
embassies in Moscow were advised to enter
a two-week quarantine. Moscow's chief
sanitary doctor signed a decree banning
visitors to boarding schools and orphanages.
On March 16, Moscow extended measures
to closing public schools, universities,
athletic schools and supplemental education
institutions from March 21 to April 12.
Quarantine in all Russian schools since
March 23.
SERBIA 964,796 256,172 Schools are closed.
Schools are conducting full home-based

learning. They remain open only for parents
SINGAPORE
who cannot find alternative accommodation
for their children.

E-LEARNING MARKET
SLOVAKIA 832,055 156,048 Schools are closed.
President Cyril Ramaphosa declared a

national disaster in response to the COVID-
19 outbreak and closed all schools until the
end of South Africa's Easter holiday. The
SOUTH AFRICA 13,496,529 1,116,017
Minister of Higher Education, Science and
Innovation has announced official measures,
impacting universities and colleges across
the country.
SPAIN 7,696,101 2,010,183 Schools are closed.
The government ordered to close schools

from March 12 to April 20, which also marks
SRI LANKA 4,917,578 300,794 the end of the first term. The private tuition
classes and tutorials are also closed for two
weeks until 26 March.
SWITZERLAND 1,289,219 300,618 Schools are closed.
Online-only learning since 23 March.

TURKEY 17,702,938 7,198,987 Educations involving tuition and/or field
work are postponed.
UKRAINE 5,170,368 1,614,636 Schools are closed.
All private and public schools and colleges

UNITED ARAB
1,170,565 191,794 have been instructed to close for four weeks
EMIRATES
from Sunday March 8.
President Nicholas Maduro issued a

"collective quarantine" in seven states in
VENEZUELA 6,866,822
Venezuela and suspended school and
university classes.
It was announced on March 18 that all UK

schools would close by the 20th (the end of
UNITED that working week) for all but the most
KINGDOM vulnerable children and pupils whose
parents were working in fields considered
particularly important to the anti-
coronavirus effort.
Source: Arizton
Three major learning modes and avenues that constitute e-learning are LMS,
packaged content, and other modes, including highly gamified applications or
serious games. Packaged content dominated the market, with a revenue share of 59%
in 2019, followed by LMS. The emergence of software applications such as LMSs
provides users with a complete package of language learning methods by
documenting, administrating, tracking, reporting, and delivering the content.
Academic institutions widely use these systems to deliver their distance education
programs as well as support their students outside the classroom. The corporate

E-LEARNING MARKET
sector also established these systems as the mainstream platform to deliver training
services to employees. Blackboard, Moodle, and CLIX are the traditional examples of
LMS used by the academic as well as business world.
Exhibit 6 Perceived Benefits and Limitations of E-learning in Higher Education
Source: Arizton
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 gain access to a
variety of learning tools and services on the internet that are offered as 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. While the previous
generation of online tools addressed concerns pertaining to the cost and reach of
learning content, Web 2.0 is driving the engagement and effectiveness factors.
Web 2.0 solutions emphasize the need and preference of users, providing them with
a wide choice of learning resources to choose from and customization as per their
requirements. Individuals, corporates, and federal bodies have been active
participants in the evolution of this modern learning system. For instance, the

E-LEARNING MARKET
European collaborative project, ROLE, which involves internationally renowned

research institutions from several countries in the EU and China, seeks to enable self-
regulation of learning, and in the process, creates responsible learners who can not
only plan their learning process and search for requisite resources, but can also reflect
on their learning process and progress independently. Given this task, ROLE´s main
objective is to support teachers in developing an open personal learning environment
for their students, where they can train each of the phases mentioned and explore the
transition within a variety of learning contexts and test environments. One among
these testbeds was provided by the Open University and concerned a major change,
where courses are prepared exclusively and delivered by educators for informal
learning, where the learner is in control of the whole learning process. The transition
implemented within the Open University testbed as a transition from the LMS
toward the personal learning environment.
Challenges do persist in the growth of the online learning market that include
disparity in devices and internet infrastructure across the world. The internet and
smartphone penetration in some of emerging economies such as India and China,
which account for most of the learner population, is still limited compared to the
standards in developed countries. This would only mean that the majority of the
population is still deprived of the benefits of online learning. Other challenges also
persist for vendors operating in the e-learning market, including the rise of free and
open-source and licensed learning platforms, the need for continuous innovation,
investments given competitive pressures, and lack of viable revenue models for the
emerging e-learning vendors.
Despite these challenges, the market is set to grow at a rapid pace with CAGR of
14.08% during the forecast period to reach over $345 billion by 2025. New growth
frontiers for vendors will likely be m-learning, deployment of augmented reality, and
increased adoption of cloud infrastructure for hosting applications to derive
scalability. Further, while federal investments in education worldwide are set to
remain relatively constant, private investments will witness impressive growth, with
potential capital inflows of more than $100 billion into the education sector during
the forecast period.

E-LEARNING MARKET
IMPACT OF COVID-19
E-LEARNING MARKET
8 IMPACT OF COVID-19
8.1 IMPACT OF COVID-19 ON THE E-LEARNING MARKET
The global lockdown of education institutions, corporate, and government offices has
caused major interruption in students’ learning and education and immensely
affected internal assessments, and the cancellation of public assessments for
qualifications or their replacement by an inferior alternative. However, the outbreak
of COVID-19 is likely to pave opportunities for the growth of the e-learning sector.
Exhibit 7 Parent’s Reported Education Sources for K-12 Students during COVID-19
None of These 11%
A Formal Paid Learning Program Not Associated

with School 6%
An Informal Free Online Program Not Associated

with School 16%
Being Home-schooled from Self-chosen Materials 26%
An Online Distance Learning Program from School 70%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Source: Arizton
In the US, 7 out of the 10 parents of K-12 students, who are currently not in school
report that their child is participating in an online distance learning program run by
the public or private school they attend. About 26% of these parents are undergoing
home schooling using a curriculum they have selected, while 16% are using an
informal, free online learning program not associated with their school and 6% are
using a formal, paid private learning program not associated with their school. 11%
of parents of K-12 students who are currently not in school say their child is not
getting any type of education. Thus, the COVID-19 outbreak in 2020 is boosting the
market for K-12 e-learning market.
Further, 17% of those whose children have formal online distance learning programs
are supplementing that with materials which are chosen by themselves, and 11% are
doing so with a free online learning program not associated with their school.

E-LEARNING MARKET
Meanwhile, among parents whose children do not have a formal online distance
learning program, 52% are home schooling with their own materials, 25% are using
a free online learning program not associated with their child's school, and 35% are
not having their child participate in any education at this time.
Exhibit 8 Global E-learning Market Growth Rate by End-users (2029–2025)
30%
25%
20%
15%
10%
5%
0%
2019 2020 2021 2022 2023 2024 2025
K-12 Higher Education Corporate Government Vocational
Source: Arizton
The biggest shift may occur at the intersections of K-12, higher education and
workforce learning. Often these areas are treated as their own distinct silos in the
education market, however, the coronavirus crisis has revealed how interdependent
these sectors are.
COVID-19 will also exacerbate weaknesses in higher education business models,

particularly in colleges and universities that are highly dependent on global students
and have not created an adequate online strategy. Thus, the COVID-19 lockdown is
expected to create enormous boost in demand for e-learning technologies, resulting
in a spike in the market in 2020. The demand may decline to certain extent in the post
lockdown period, especially among K-12 and higher education end-users, however,
the market would witness a steady growth during the forecast period.
As the COVID-19 pandemic further accelerates in terms of intensity and expands in

its global reach, full and partial lockdown measures have impacted over 2.7 billion
workers or 81% of the global workforce. Businesses across a range of economic
sectors are facing catastrophic loses which threatened their operations and solvency.
Millions of workers are now vulnerable to income loss and layoffs. According to

E-LEARNING MARKET
International Labor Organization more than 25 million workers are expected to lose
their jobs as a result of COVID-19 crisis. COVID-19 is expected to cause the most
severe crisis since the second world war, causing employment losses rising rapidly
around the world.
Table 4 Sectorial Analysis of Employment Risk Due to COVID-19
Current Impact of COVI-19 on

Economic Sector Level of Employment (‘000)
Economic Output
Education Low 1,76,560
Human Health & Social Works Low 1,36,244
Public Administration & Defence Low 1,44,241
Utilities Low 26,589
Agriculture, Forestry & Fishing Low-Medium 8,80,373
Construction Medium 2,57,041
Financial and Insurance Activities Medium 52,237
Mining & Quarrying Medium 21,714
Arts Entertainment Recreation and others Medium-High 1,79,857
Transport, storage, & Communication Medium-High 2,04,217
Accommodation & Food Services High 1,43,661
Real Estate, business, and administrative activities High 1,56,878
Manufacturing High 4,63,091
Wholesale and retail trade; repair of motor vehicles and motorcycle High 4,81,951
Source: Arizton, ILO, and World Bank
The rising risk of unemployment is expected to create dramatic changes in the global
workplace. The employees would emphasize on expanding their knowledge and
skill sets in order to gain greater employment opportunities. As a result of which the
demand for e-learning courses is expected to increase among workers. The demand
for vocational courses, LMS and Packaged content is expected to rise drastically
during the forecast period. Further corporate e-learning courses is also expected to
show rapid growth in demand as the businesses would increasing try to improve the
productivity and profit especially due to the growing global economic uncertainties.
Approximately, 72% of the organizations believe that e-learning can provide them
competitive advantage.
The global lockdown of education institutions, corporate, and government offices has
caused major interruption in students’ learning and education and immensely
affected internal assessments, and the cancellation of public assessments for
qualifications or their replacement by an inferior alternative. However, the outbreak
of COVID-19 is likely to pave opportunities for the growth of the e-learning sector.

E-LEARNING MARKET
Exhibit 9 Percentage of the Workers at Risk due to COVID-19
Source: ILO & Arizton

E-LEARNING MARKET
MARKET DYNAMICS
E-LEARNING MARKET
9 MARKET OPPORTUNITIES & TRENDS

9.1 INCREASE IN USE OF MOBILE APPS AND SOCIAL MEDIA
Exhibit 10 Impact of Increase in Use of Mobile Apps and Social Media
Impact of Increase in Use of Mobile Apps and Social

OPPORTUNITY & TREND
Media
YOY Impact of Market Opportunity & Trend
2019
2021
2023
2025
Impact of Market Opportunity & Trend on Regions 2019
North America
Europe
APAC
Latin America
KEY
The magnitude of the competitive factor has been categorized and described below:
VERY STRONG MODERATELY MEDIUM LEVEL LOW IMPACT NEGLIGIBLE OR

IMPACT HIGH IMPACT IMPACT on the market NO IMPACT
with radical on the market on the market on the
influence on the market landscape
growth of the
market
Source: Arizton

E-LEARNING MARKET
Smartphones are often cited as a new gateway for the growth of language learning
products. These devices enable segment-wise streaming, allow the consumption of
content as per the dynamic requirements of users. Mobiles applications pose a
serious challenge to web platforms on account of their inherent flexibility in terms of
content creation and consumption. E-learning content creators are now able to add
bite-sized lessons and deploy learning modules in sprints easily in order to match
the user’s daily routine. smartphones are likely the major learning medium for
professionals as they not only overcome the limitation of time and place but also
facilitate better collaboration than static web platforms.
Exhibit 11 Rising Adoption of Digital Devices and Content
In 2018, the global mobile data traffic accounted for 19.01 exabytes
per month. In 2022, it is likely to reach 77.5 exabytes per month
worldwide, growing at a CAGR of 46%.
In July 2019, there was an estimated 3.46 billion active mobile social
media users worldwide.
In 2020, the number of smartphone users in the world is 3.5 billion,

which accounts for 45.04% of the world’s population. The number
stood at 33.58% in 2016.
Source: Arizton
E-learning is emerging from being a monotonous affair to a more collaborative and

peer-to-peer affair. Continuous news feeds, peer-to-peer challenges, flashcards, and
content collaboration have made involvement cheerful and meaningful. These types
of collaborative features are better able to be replicated on mobile platforms on
account of the ease of connectivity. Further, social media channels are increasingly
being leveraged to enable this collaboration. Duolingo, Lingua.ly, and Voxy are some
of the players that have successfully enabled collaboration on mobile phones to
provide a better learning experience. While smartphones are expected to play a
deciding role in enabling the success of these applications, audio, and text-based
applications are likely to play an important role in developing economies.

E-LEARNING MARKET
The growth of social media also spurred the emergence of new education paradigms
to promote hybrid and online learning. In emerging countries, traditional higher
education institutions are facilitating important discussions to determine ways to
incorporate online and informal learning to derive better engagement and student
reach. These engagement levels and flexibility are expected to be decentralized in the
coming years. The continuing acceptance and adoption of cloud-based applications
and services is changing not only the means of configuration and software usage and
file storage but also how we conceptualize those functions. It does not matter where
the work is stored; what matters is that the information is accessible from anywhere.
There has been a growing preference for browser-based software that are device
independent. While some challenges still remain, specifically with notions of privacy
and sovereignty, the promise of significant cost savings is a driver for new solutions.
Online collaborative environments and platforms that are deployed on the cloud
with modules, facilitating networking are increasingly being preferred, driven by
their scalability and ability to accommodate collaboration among groups,
irrespective of the location of users.

E-LEARNING MARKET
9.2 GROWTH OF BLENDED LEARNING IN EDUCATION

TECHNOLOGY
Exhibit 12 Impact of Growth of Blended Learning in Education Technology
Impact of Growth of Blended Learning in Education

OPPORTUNITY & TREND
Technology
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
Blended learning or a mixed mode of learning is a method in which a part of

pedagogy involves the usage of digital mediums for content creation and
customization; users can exercise an element of control on the path, place, and pace
of the content delivery. This mode of learning incorporates both the classroom way
of teaching and digital mode, which not only makes the service delivery engaging
but also effective. Blended learning is soon turning out to be a proven method for
effective content reception since it enthuses users and at the same time, derives the
best of each teaching method. By using a combination of digital instruction media
and face-to-face classroom methods, this mode of teaching enables instructors to
better customize the content as per the requirements of individual users. The
language training market is the largest adopter of the blended learning concept since
it enables instructors to tailor the pace of the content delivery according to the user’s
capabilities and limitations of time.
Exhibit 13 Prominent Blended Learning Models
Source: Arizton
The reasons for the growing popularity of blended learning are as follows:
› The internet and device infrastructure in several countries does not yet support full-
fledged content-rich and video-laden learning. Therefore, it is necessary for models that
can accommodate the right blend of online and offline learning to offer a seamless
experience.

E-LEARNING MARKET
› E-learning cannot be termed comprehensive without the right content and instruction
mode. With a dearth for qualified instructors in most of countries, it is necessary for
professionals to create comprehensive content, followed by interactive training to
improve their effectiveness. There is an estimated 264 million children and youth that are
out of school. There is a shortage of instructors with only over 69 million qualified
instructors in the primary and secondary education segment globally in 2018. Webcasting
and recorded video learnings can be effective to supplement the learning needs primarily
catered through content alone.
› Personalization of learning needs of students is another major area of emphasis in most

of countries and the same can be better accomplished by self-blended learning.
Independence should be offered to the learner to choose the content as with the molding
of the same through tools and applications.
Table 5 Ratings for Prominent Trends Characterizing E-learning Market
Number of Participants who Ranked it Number of Participants who Ranked it as

as First Second
Personalization 34 35
Big Data 12 22
Augmented Reality 18 18
Artificial Intelligence 22 16
Blended Learning 40 24
m-learning 44 40
Gamification 31 44
Going Cloud 8 2
Bot-driven Content
Creation
2 0
Others 39 49
Total 250 250
An interaction with more than 250 e-learning vendors revealed blended learning and personalization are the sweeping
trends, which are set to fundamentally change the structure of the e-learning market. Participants were asked to pick two
most prominent trends – first and second most prominent among a large list of trends shaping the industry.
Source: Arizton

E-LEARNING MARKET
9.3 INCREASING VR & AR APPLICATIONS IN E-LEARNING
Exhibit 14 Impact of Increasing AR & VR Applications in E-learning
Impact of Increasing AR&VR Applications in E-

OPPORTUNITY & TREND
learning
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
Augmented Reality (AR) refers to the display of a live direct or indirect view of a
physical, real-world environment, which is supplemented by computer-generated
sensory inputs such as video, graphics, and sound or GPS guidance. While AR adds
or molds the reality, Virtual Reality (VR) transposes a real environment located
elsewhere to through closed visors or goggles. A classic example often quoted to
illustrate both of these concepts better is “With virtual reality, you can swim with
sharks, while with augmented reality, you can watch a shark pop out of your
business card.” VR and AR were once considered a fad for use in various end-users
are being taken seriously driven by innovations enabling better experience and
growing pilots for their applications. Technology and VC majors, including Alibaba,
Warner Bros, Google, Qualcomm, Fidelity, J.P. Morgan, Morgan Stanley, CIC, Intel,
Amazon, Fidelity, NetEase, and Softbank collectively have committed billions of
dollars in investment into the technology. For instance,
Like medicine, gaming, and movies, e-learning has found its applications in these
technologies. Some of the emerging e-learning applications for VR and AR are as
follows:
› Simulating operating environments and imparting functional training, especially

pertaining to blue collar jobs, including maintenance, repair, service, and replacement of
various vital components and spares
› Making learning more engaging for primary education users by traversing their
imagination through mounted displays
› Imparting practical training, especially at the university level, pertaining to operative

medicine, training on performing surgeries, and sharing case studies
› AR can be deployed to replicate collaborative learning between peers by simulating a

classroom with all peers attending, thus shedding out the disparity with conventional
offline modes of learning
› Language learning is a major avenue, wherein interactive learning and teaching can be
accomplished by AR head mounts and videos
Ed-Tech start-ups with the deployment of AR and VR are set to continue gathering
investors’ interest since the market is still termed to be in the nascent growth stage
with vast untapped business opportunities. More than 100 start-ups and vendors are
actively engaged in developing AR and VR driven ed-tech content; these companies
collectively garnered investments of $84 million in 2016. It is set to grow at least 20
times over the forecast period driven by diversification of conventional ed-tech
players and corporate investment interests.

E-LEARNING MARKET
10 MARKET GROWTH ENABLERS

10.1 HIGH INTERNET PENETRATION AND INTERNET-
ENABLED DEVICES
Exhibit 15 Impact of Higher Internet Penetration & Internet-enabled Devices
Impact of High Internet Penetration & Internet-

GROWTH ENABLER
enabled Devices
YOY Impact of Market Growth Enabler
2019
2021
2023
2025
Impact of Market Growth Enabler on Regions 2019
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
The growing internet, mobile, and smartphone penetration is one of the fundamental
drivers for the e-learning market. This has not only revolutionized the delivery mode
of content but also evolved the method by continuously improving bandwidths and
reducing data prices.
The global population, estimated at 7.71 billion in 2019, is set to grow to 8.14 billion
by 2024, driven by increased life expectancy in developed countries and improved
fertility rates in developing economies. Developing countries are set to grow their
purchasing power parity and improve social infrastructure, including internet and
mobile connectivity. The global internet penetration is set to grow to 59.935% by 2022,
presenting huge opportunities for the e-learning market.
Exhibit 16 Global Population and Internet Users Scenario 2019
Source: Arizton

E-LEARNING MARKET
Governments across the globe hold the key not only in developing the internet
infrastructure across countries but also in formulating the framework for e-learning
as the primary and secondary mode for mass education. Primary and secondary
education is predominantly funded and regulated by the state and constitutes a key
end-user segment in the e-learning market. On the connectivity front, 57% of the
global population that is over six years had mobile phones in 2019, and this number
is expected to reach 90% by 2021. Smartphone subscriptions are set to grow to 6.1
billion, and mobile traffic is likely to constitute 68% of the total data traffic, majorly
driven by the consumption of rich graphical and video content.
With an increasing internet and smartphone penetration, the demand for seamless
connectivity between electronic devices is also on the rise. Evolving cloud
infrastructure and low data prices driven by huge volumes are the major drivers in
strengthening connectivity as they eliminate several problems associated with cost,
scalability, security, and efficiency. As the number of connected devices is growing,
the solutions hosted on the connectivity-enhancing platforms also evolve both in
terms of number and capabilities. For instance, in 2019 with the high penetration of
smartphone devices and the continuously evolving quality of connectivity network
in India, the volume of video content streamed has increased by a whopping 48%
YOY since 2012. This has given rise to a host of new business opportunities, varying
from streaming webinars that enhance the reach of quality educational content from
premier universities to facilitating the much-needed medical advice to some of the
remote areas across the globe. Capitalizing on the same, e-learning and training have
brought in some fundamental changes to conventional education systems by
implementing highly interactive tools and services at a low cost with clear
advantages in the realms of content access and delivery, proficiency testing, language
training, and collaborative learning.

E-LEARNING MARKET
10.2 GROWTH IN GLOBAL WORKFORCE AND MIGRATION OF

SKILLED LABOR
Exhibit 17 Impact of Growth in Global Workforce & Migration of Skilled Labor
Impact of Growth in Global Workforce & Migration

GROWTH ENABLER
of Skilled Labor
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
The migration of skilled resources from developing to developed countries has been
in practice for several decades and is one of the major contributors to the language
learning market across the world. The US is the most preferred destination for
international migration, thereby making English the most learnt language. A
majority of students move to the US, Australia, the UK, and Canada for higher
education; these countries host some of the most prominent centers for academic
innovation and offer exciting professional opportunities. As a result of lack of ample
cost-effective technology-implementation skills in the US, Europe, and other
developed countries and the high labor cost in regional markets, many corporations
tend to outsource their work to markets with low labor costs to improve their bottom
line and strengthen their balance sheets. The demand for skilled labor in the US has
been growing at a CAGR of 4.4% since 2010, while in Europe, it has been tepid at
1.35%. The demand for a specialized, skilled workforce has brought with it a need
for language translation, localization, and interpretation services. In this context,
online language learning platforms have garnered interest from organizations on
account of their agility compared to traditional language learning avenues. Further,
with organizations undertaking cost-cutting measures in several verticals, especially
in automotive, mining, and IT services sectors, outsourcing their back-office
operations to developing countries such as India, the Philippines, and Indonesia has
become a trend. Our research indicates that 78% of the Fortune 500 organizations
have outsourced a slice or an entire section of their back-office operations to these
countries over the past decade.
The need for language acclimatization and training tools for the talent in these
business process outsourcing (BPO) activities is driving the demand for cost-effective
e-learning solutions. BPO operations typically have a high manpower attrition rate
of 20–25% and balancing training effectiveness and profitability remain a challenge
for organizations. These organizations, therefore, do not require to invest much of
time and resource on recurrent resource training sessions driven by high attrition
rates. Hence, they prefer cost-effective and agile solutions that can accomplish
continuous training. The implementation of interactive e-learning modules offers
high savings in terms of time and resources as they can take care of the continuous
dynamic and diverse needs of the learning audience.

E-LEARNING MARKET
10.3 DIGITIZATION INITIATIVES IN LEARNING & TRAINING
Exhibit 18 Impact of Digitization Initiatives in Learning & Training
Impact of Digitization Initiatives in Learning &

GROWTH ENABLER
Training
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
Several digitization initiatives have gained importance around the world both in
government and private sectors. Schools and governments are undertaking
ambitious implementation plans pertaining to online tutoring, digital content
delivery, and conversion of existing learning content into the digital format. Primary
and secondary education curriculum in emerging countries is being re-designed to
emphasize on both functional and soft skills in order to meet the global academic
standards.
10.3.1 Key Factors Driving Federal Interest in Digitization
› Globalization and increased migration of talent across countries driven by academic and
professional obligations have led to the development of courseware that are standardized
and are accessible for vocational use for immigrant and emigrant populations.
› There is a dearth of adequate trainer faculties both in terms of quality and quantity. While
countries such as India, China, and Indonesia represent significant potential market in
terms of learners, there is a shortage of qualified and certified instructors, thus warranting
the need for platforms that can facilitate a broader reach of curriculum.
› While MOOCs and LMS have played a vital role in enabling access to courseware, video
streaming and interactive applications fill in this gap by providing requisite training
experience.
› E-learning is often viewed as a precursor to e-governance by several governments. The

implementation of digital governance and administration models in training federal
workforce, administering changes, and enacting skill development programs to enable
faster decision making, minimize corruption, information dispensation, and security is
growing.
› Skill development is another area of focus for governments with long-term

implementation of continuous e-learning programs supplemented by instructor-led
models found to be effective. Ensuring workforce skill upgrading and better productivity
will help countries build medium to long-term business competitiveness.
Some remarkable initiatives in this regard over the past few years undertaken by the
governments to support digital learning are as follows:
› In 2019, the CEO of e-Learning Jamaica, Keith Smith, announced that the Cabinet has
approved the procurement of 40,000 tablet computers for students and 25,000 devices for
teachers, under the Tablets in Schools Project.

E-LEARNING MARKET
› A program was launched in Los Angeles, US to equip 30,000 students with iPads in 47
schools in 2013.
› Distribution of 10,000 Aakash tablets was carried out by the Indian government in
educational institutions in 2012.
› Governments of Kenya, Uruguay, and Brazil, supported by UN bodies, are firm on

adopting digital learning, propelling them to ramp up their education budgets and grant
allotments.
A survey, followed by an interaction with 200 corporates, revealed that skill

development, talent retention, and cost optimization are among the major reasons
for the implementation of e-learning modules in their companies.
Exhibit 19 Perceived Benefits of E-learning (normalized results)
Source: Arizton

E-LEARNING MARKET
10.4 PERENNIAL PRIVATE INVESTMENTS IN DIGITAL

LANGUAGE LEARNING
Exhibit 20 Impact of Perennial Private Investments in Digital Language Learning
Impact of Perennial Private Investments in Digital

GROWTH ENABLER
Language Learning
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
Driven by strong fundamentals for language learning in terms of market

opportunities and growth, there has been a rise in both the number of vendors
venturing into language training and creation of learning platforms. These ventures
are also attracting investor interest. Of an estimated 1,920 start-ups focused on
language learning in the world, more than 350 start-ups with a reasonable global
presence or scalable solutions have been funded privately through angel investors,
established venture capitalists, or private equity firms. These companies have the
potential to disrupt the market with their innovative learning delivery solutions,
tools, and content. They are breaking the market entry barriers through innovative
business models based on the Cloud first and Mobile First delivery models.
Table 6 Investments of Major Companies in Language Learning Market
COMPANY INVESTOR AMOUNT ($ MILLION)
Bussu McGraw Hill Education 6.5
Babbel Scottish Equity Partners & Others 22
CultureAlley Tiger Global Management 6.5
Duolingo Google Capital 45
VivaLing Singaporean Investors 0.37
Lingua.ly 1776 Ventures & Others 1
Englishleap.com ANALEC -
OkPanda Resolute Ventures 1.6
WeSpeke - 3
Imagine Learning Weld North Holdings -
HuJiang.com Baidu 100
Source: Arizton
Since January 2015, the investments to the tune of $815 million have been channeled
into the language learning market. Aggregate maiden investments of close to $1.5
billion were invested in the language learning market alone during the period 2010–
2016. The e-learning market witnessed investments of at least three times the same.

E-LEARNING MARKET
Table 7 Prominent Ed-tech Investments
Ed-tech Investors Key Portfolios
Collegefeed (Acquired); Educreations; eduK; Edupristine; Fidelis; FreshGrade;

Accel
Grovo; Knewton; Lynda.com (Acquired); Osmo; ResearchGate; Vedantu; Wyzant
Apptuto; Chalkable (Acquired); Cheddar Up; Chromatik; Codementor; Colingo;

CultureAlley; Descomplica; eSpark; Experiment; Floqq; Internmatch; Kiwi Crate;
500 Startups Mindsnacks; Mom Trusted; Monkimun; Mystery Science; Okpanda; OneSchool
(Closed); OnlineTyari; Platzi; Springboard; Stickery; Storypanda; Studypool;
Taamkru; Timbuktu; Tinkergarten; Tynker; Udemy; Veduca; YongoPal (Closed)
AdmitSee; Blendspace (Acquired); Bloomboard; ClassDojo; Classkick; CodeHS;

DigitWhiz; Edsurge; Education Elements; Educents; Educreations; Eduvant; Front
ImagineK12 Row; Goalbook; Hapara; Kaizena; Learnsprout (Acquired); NoRedInk; Nunook
Interactive; Panorama Education; Raise.me; Remind; SchoolMint; Securly; Showbie;
Socrative (Acquired); Studyroom; Teachboost
Acceptly (Closed); AltSchool; Andela; Bloc; Bloomboard; Brainly; Bridge

International Academies; BrightBytes; Chromatik; ClassDojo; CodeHS; CourseHorse;
Learn Capital Coursera; Desmos; Edmodo; Edsurge; Educents; eSpark; Experiment; Learnzillion;
MasteryConnect; Mystery Science; NoRedInk; NovoEd; OneSchool (Closed);
popexpert; Rockit Online; Savvy; ShowMe; Udemy; Verbling; VersaMe; WriteLab
2U (IPO); Ace Learning Company; Allovue; Bridge International Academies;

BrightBytes; Civitas Learning; Degreed; Education Elements; Ellevation; Engrade
Rethink Education
(Acquired); Everfi; General Assembly; Hapara; Neverware; Noodle Education;
NoRedInk; Pathbrite (Acquired); Smarterer (Acquired); Straighterline; Vox
Source: Arizton
Investors in the e-learning market in general and the language learning market, in
particular, can be categorized into the following three types:
› Major retailers and service platforms such as Alibaba and Tencent, which are looking to
diversify their portfolios with high-potential, technology-enabled start-ups with great
market opportunities
› Professional venture capital funds looking to create the next unicorns in the tech-enabled
learning space. The most active funds include Google Capital, Learn Capital, 500 Start-
ups, GSV Capital, First Round, and NewSchools Venture Fund
› Conventional education players such as Pearson, McGraw Hill Education, and Apollo
that have significant business stakes in the offline vertical. They view these small
emerging online learning businesses as the next growth bet with investments in focused
e-learning vendors intended to diversify their portfolio and mitigate business risks

E-LEARNING MARKET
11 MARKET RESTRAINTS
11.1 GROWING DEMAND FOR CONTINUOUS PRODUCT
INNOVATIONS
Exhibit 21 Impact of Growing Demand for Continuous Product Innovations
Impact of Growing Demand for Continuous

MARKET RESTRAINT
Product Innovations
YOY Impact of Market Restraint
2019
2021
2023
2025
Impact of Market Restraint on Regions 2019
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
With the e-learning market gaining momentum, there is a need for continuous
innovation in learning products for vendors not only to differentiate their offerings
but also to drive the adoption and reach to a wider section of end-users. Artificial
intelligence (AI) and cognitive learning technologies have started to play a decisive
role and are poised to be game changers in several learning avenues. Learning
providers, in order to stay relevant and updated, are forced to adopt these emerging
technologies to extend the lifecycle of their existing products and to make the best
out of customer lifetime values. UX is another area of focus for several learning
providers, including for those language training providers that are continuously
investing to improve the same to match the evolving the needs of end-users.
Exhibit 22 Key Innovation Areas in E-learning Products
Gamification of existing applications is improving the engagement rate.

Conventional testing and evaluation services are rapidly adopting gamification
to make the user’s journey more rewarding and engaging.
Several e-learning providers are evolving to match the requirements of

specially abled people, including the deaf and blind. This not only
enables product differentiation but also provides the much-needed
bargaining power in pricing.
Intelligent content creation is another area of focus, wherein vendors are

investing in intelligent bots that work with minimal human effort and
can scan through volumes of content and generate newer versions.
AI and ML have started to gain prominence in the global e-learning market as

they develop interesting opportunities in cross-selling, help in focused targeting
of content, and improve customization of content according to the user’s needs
with minimal or zero intervention of the instructor or moderator.
Source: Arizton
The process of product development and UI/UX upgrading is perennial and often
entails the requirement of significant resources. As the digital learning market
enthuses more vendors on account of the growth potential it holds, learning platform

E-LEARNING MARKET
providers must get ready to match the ever-dynamic requirement of end-users and
organizations. Vendors must constantly explore the adoption of captivating and
engaging learning modes, including related to gamification. The only norm in this
market is “to perish if you do not perform.” The product development is one of the
major expenditure heads for cloud-based language learning providers, constituting
as much as 40–45% of their total expenses.
Exhibit 23 Ranking of Expenditure Heads Cited for Product Innovation (130 vendors)
Major Vendors (Revenues > $50 Other Prominent Vendors (Revenues <= $50
Ranking*
million) million)
AI and ML 2 4
UI/UX 5 5
Content Creation 3 3
Gamification 4 2
Multi-segment
6 6
Targeting
Mobile Learning 1 1
*Better the rank for the head, higher is the budgeted expenditure
Source: Arizton
While product innovation is termed to be good for the market to stay relevant and
competitive in the long run, a continuously evolving consumer mindset coupled with
frequent overhauls of technologies and interfaces will result in cost overheads in the
short term, rendering several platforms irrelevant. Further, vendors will be forced to
optimize resources between scaling up the business and investing in perennial
product development.

E-LEARNING MARKET
11.2 VARIABILITY IN HARDWARE & SOFTWARE
Exhibit 24 Impact of Variability in Hardware & Software
MARKET RESTRAINT Impact of Variability in Hardware & Software
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
In today’s competitive world, electronic devices come in various forms with varying
screen sizes and software and hardware configuration. Device-hosted and cloud-
hosted applications that are designed to provide a seamless experience to users
across all devices face a challenge in terms of maintenance and upgrades. As the
conformity among electronic devices by operating systems and hardware build
reduces, the challenge pertaining to maintenance and upgrading will be on the rise.
Whenever an upgrade has to be implemented, enough care has to be taken to ensure
its compatibility with not only existing established devices but also with the newly
launched models. While the version and variability in OS is one such issue in mobile
phones and personal computers, the rapid evolution in scripting languages is another
major challenge. All these results in a steep rise in maintenance and development
costs for applications, with companies constantly planning to match these changes
without hampering the user experience. The same also poses a challenge to vendors
in terms of human talent that needs to be continuously trained with these modern
skills and developments.
Exhibit 25 Variability in Software & Hardware
7 out of 10 world’s leading mobile manufacturers have indicated their

interest in developing their own operating systems
Microprocessor manufacturers such as Intel, Samsung, AMD, and

Qualcomm have reported on an average 14-fold increase in their
product breadth over the past decade
Demand for skillsets pertaining to Mobile-first and front-end

frameworks such as bootstrap design sky-rocketed since their launch
in 2011
An upgrade patch for an application is reported every 8 minutes, and

one of the new applications hits the market every 2 minutes across
the world
Source: Arizton
As microprocessors are getting smaller and better with costs diving down by factors
of 10, electronic devices are becoming obsolete faster. For instance, the ownership
period of an average electronic gadget (with a price point of less than $150) in the US
has reduced from 3.5 years in 2010 to 1.5 years by 2016, while the same in China

E-LEARNING MARKET
declined from 4 to 2 years. Application developers, therefore, face the challenge of

matching the performance requirements of a broad segment of hardware users.
Further, building a robust scalable and secure software architecture to match this
dynamic development environment remains another major challenge.

E-LEARNING MARKET
11.3 LIMITED ACCESS TO CLOSED MARKETS & PLATFORMS
Exhibit 26 Impact of Limited Access to Closed Markets & Platforms
Impact of Limited Access to Closed Markets &

MARKET RESTRAINT
Platforms
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY
VERY STRONG MODERATELY MEDIUM LEVEL LOW IMPACT, NEGLIGIBLE OR

IMPACT, HIGH IMPACT IMPACT, on the market NO IMPACT,
with radical On the market on the market on the
growth of the
market
Source: Arizton

E-LEARNING MARKET
Gaining access to enterprises and educational institutions in markets other than the
base country poses cultural and market challenges to vendors. The mandate,
therefore, requires partnering with local firms in those markets to gain an easy entry
into the market and capitalize on the captive customer base of partners. With an
increase in the number of vendors and offerings in the market, these local partners
tend to align with those who can potentially offer them high monetary benefits in the
short term. This often leads to bias and can potentially influence the market evolution
in terms of product selection, deployment, and maturity.
For instance, mobile phone manufacturers tie-up with application providers to offer
pre-installed software and applications in factory-ready products before they hit the
market. The selection of this application is often determined by the strategic
monetary arrangement rather than the prominence of the application. This often
leads to a limited reach of several applications in those markets where the developer
is unable to gain access.
A similar trend is being observed in the e-learning market, wherein several learning
devices, especially those that are meant for mass distribution by government and
large private institutions, come pre-hosted with tools and packages of partnered
vendors whose products do not make a right fit to the learner’s requirements.
Another major challenge for e-learning providers is the declining bargaining power
of players with an increase in the number of application choices in the market. The
same is predominant in the case of B2B sales. The solution to this is building a strong
brand and executing a well-planned B2B marketing campaign in local markets.
Companies need to engage with market research firms to evaluate their product and
ensure citations of their product in the analyst’s community whose opinions and
views are widely referred to by B2B buyers while making a purchase decision.
On the other hand, the B2C market is commoditized by the rise of freemium offerings
and a wide range of subscription services that disintegrate the stickiness of a user.
The rise in the number of similar offerings is leading to the high fragmentation of the
market, often making business propositions unviable for those with robust product
offerings.

E-LEARNING MARKET
11.4 INADEQUATE INTERNET BANDWIDTH IN DEVELOPING

COUNTRIES
Exhibit 27 Impact of Inadequate Internet Bandwidth in Developing Countries
Impact of Inadequate Internet Bandwidth in

MARKET RESTRAINT
Developing Countries
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
E-learning and cloud-based solutions require high internet bandwidth. The internet
bandwidth in developing countries still poses a challenge for the seamless use of
applications hosted on the cloud. Further, the optimization of applications to run on
low bandwidth offers rise to further customization, thereby increasing the
developmental cost.
Table 8 Internet Quality Statistics of Select Countries
Average Connection Speed % Above % Above % Above

Country
(Mbps) 4Mbps 10Mbps 15Mbps
Argentina 6.1 56% 16% 5.40%
Bolivia 2.6 10% 1% 0.40%
Brazil 6.4 59% 16% 5.00%
Canada 14.9 88% 56% 34.00%
Chile 8.6 74% 27% 13.00%
Colombia 5.4 58% 7% 2.20%
Costa Rica 3.9 33% 3% 0.90%
Ecuador 6.3 63% 13% 4.70%
Mexico 7.2 75% 17% 5.30%
US 17.2 88% 63% 42.00%
Australia 10.1 76% 30% 16.00%
China 6.3 73% 11% 2.20%
Hong Kong 21.9 93% 70% 52.00%
India 5.6 38% 14% 7.30%
Indonesia 6.7 71% 14% 4.30%
Japan 19.6 92% 72% 51.00%
Malaysia 8.2 69% 27% 11.00%
New Zealand 12.9 90% 45% 25.00%
Philippines 4.5 31% 8% 3.60%
Singapore 20.2 95% 73% 52.00%
Austria 13.9 91% 45% 25.00%
Bulgaria 15.6 96% 65% 39.00%
Czech
17.3 86% 54% 36.00%
Republic
Finland 20.6 93% 65% 44.00%

E-LEARNING MARKET
France 10 70% 28% 16.00%
Germany 14.6 89% 50% 30.00%
Hungary 14.3 92% 54% 32.00%
Italy 8.7 78% 23% 10.00%
Netherlands 17.6 96% 71% 46.00%
UK 16.3 91% 57% 39.00%
Egypt 2.2 9% 0% 0.10%
Israel 14.4 95% 58% 30.00%
Nigeria 4.1 41% 3% 0.90%
Qatar 11.9 85% 48% 24.00%
South Africa 6.6 51% 11% 6.20%
UAE 10.7 94% 41% 16.00%
Source: Arizton
While developed markets such as the US, the UK, and the EU account for the majority
demand for online learning solutions, developing countries are the major growth
markets on account of their rapidly evolving internet and mobile infrastructure.
Despite the rise in mobile and internet penetration in these countries, bandwidth and
streaming quality is a major concern, often limiting access to sophisticated and
advanced learning and training applications. With blended learning gaining
foreground and video becoming an integral part of training-learning curriculum
enabling effective collaboration between users, the role of internet bandwidth
becomes even more prominent. The adoption of e-learning products in a majority of
emerging economies is largely affected by insufficient bandwidth, hindering the
delivery of audio and video content. This often propels drawing a parity with
conventional learning methods or hybrid learning models and limits the adoption on
a larger scale.

E-LEARNING MARKET
11.5 LACK OF VIABLE REVENUE & MONETIZATION MODELS
Exhibit 28 Impact of Lack of Viable Revenue & Monetization Models
Impact of Lack of Viable Revenue & Monetization

MARKET RESTRAINT
Models
2019
2021
2023
2025
North America
Europe
APAC
Latin America
KEY

growth of the
market
Source: Arizton

E-LEARNING MARKET
There has been a growing investor interest in the e-learning market driven by market
opportunities and derivable IRRs (usually in the range of 25–30%). Driven by an
influx of investments, most new-age learning solutions are being provided free to
end-users by vendors for an extended period of time, posing challenges to the
survival of other language training incumbents in the market. The revenue and
monetization models of these new-generation companies are questionable, with most
of them investing millions of dollars on product development and marketing with
little coherence with revenue and profit visibility. Several existing e-learning and
training platforms are either adopting a freemium model or targeted revenue
monetization. In the freemium model, a set of basic features are offered for free, and
the user is driven to pay for advanced functionalities. In the targeted revenue
monetization model, a set of end-users pay for the services while a majority of end-
users enjoy the content for free. Although these revenue models do outpace the
traditional training model when it comes to the user acquisition and easy content
creation, they are often questioned for their viability in the long-term.
An analysis of existing e-learning providers reveals that less than 14% of vendors
incorporated post-2010 are focused on e-learning profits, while the ratio is 67% for
vendors with diversified portfolios with more than 10+ years of experience in the
market. Further, of the 130 participants polled, 74% indicated their inability to post a
profit for the coming two years. A whopping 52% of the participants attributed to
lack of solid revenue models and 21% to competitive pressure for not registering
decent bottom-line.
The growing gamut of applications will thus need to differentiate themselves and
come up with innovative revenue models in this segment. One of the strategic routes
could be to develop networks and further expand this network to encompass
learners, content developers, tutors, and service providers in the platform. Initially,
to build traction and attract other service providers to the platform, companies will
have to build this community of learners so that the suppliers are attracted to the
platform. Subsidized learning is the only way to attract learners to the platform. Once
this network is built, companies can strategically charge either side of the network or
both.
› Based on the value offered and the adoption rate, companies will have to optimize their
revenue models to effectively capitalize on the marginal utility of different stakeholders
involved rather than adopting blanket discounting. AI and VR are termed to offer

E-LEARNING MARKET
immense differentiation and revenue optimization opportunities with the scope of usage
extending to the following:
› Minimizing human intervention in customer service and content customization
› Increasing content collection, reviewing, and optimizing
› Taking the user engagement to the next level, thereby propelling their offerings from the
commoditized competition
› Better mapping of the user’s inclinations and behavior, thus leverage cross-selling
collaborations or resort to vertical integration

E-LEARNING MARKET
MARKET LANDSCAPE
E-LEARNING MARKET
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
Exhibit 29 Global E-learning Market Overview
Global E-learning Market

The market is set to grow at a rapid pace and is likely to reach over $345 billion by 2025, growing at a CAGR of 14.08%. New frontiers
for growth for vendors will be game-based learning content, m-learning, deployment of AR, and the increased adoption of cloud
infrastructure for hosting applications to derive scalability.
Key End-users Segments Key Learning Mode Segments
K-12
10%
22% Higher
13% Education 40%
Self-paced
Corporate
60% Instructor-led
25% Government
30%
Vocational
The corporate e-learning market, which constituted $47.41 billion

In 2019, the self-paced learning segment dominated the global
revenues in 2019, stands as a major market driven by increased
E-Learning market and accounted for 60% of the total market
emphasis on talent upgrading and retention. In addition, globalization
share.
is mandating a different set of functional and language skills for
critical workforce as companies expand their business presence across
geographies.
Key Delivery Mode Segments Key Function Segments
16% Packaged 28%

Content
LMS Training
25% 59% Testing
Others
72%
Training, which includes professional, governmental-related, and

In terms of revenue, packaged content accounted for a market share
academic, was estimated at $113 billion in 2019, with a revenue share
of 59% in 2019, followed by the LMS segment. The LMS segment
of 72% of the market. The testing segment, on the other hand,
enables easy collaboration of content, testing material, and
constituted a revenue share of 28% in 2019, with a market size of $43
information exchange among peer groups both in the academic and
billion, primarily constituting the administration of professional,
corporate world.
exclusive, and common admission tests across the world.
Source: Arizton

E-LEARNING MARKET
12.2 MARKET SIZE & FORECAST

Traditionally, organizations face the perennial challenge of optimizing workforce
productivity and ensuring individuals’ skill enhancements. to overcome this
challenge, they began offering solutions that could enable the achievement of quality
results in a short span of time. Technology proved to be indispensable in achieving
these goals, thereby paving the way for the emergence of e-learning. Technology-
enabled learning, therefore, is a key component of organizations’ human resource
strategy, with continuous and effective learning at the optimal cost given due
emphasis. The e-learning market, including those of LMS, is expected to show
tremendous growth in the next five years, expanding at a CAGR of over 20.19%
during 2019−2025. While the growth curve is uniform in terms of a number of users,
the same is not the case in terms of revenues; the average cost of content creation and
delivery with the same is undergoing a consistent decline. The advent of cloud
infrastructure, peer-to-peer problem solving, open content creation, and rapid
expansion of target audience has enabled e-learning providers to rein in economies
of choice and offered course content at more competitive prices than the traditional
channels.
Exhibit 30 Global E-learning Market 2019–2025 ($ billion)
400.0 25%
350.0
20%
300.0
CAGR 250.0
15%
14.08%
200.0
10%
150.0
100.0
5%
50.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 156.68 189.14 222.50 251.16 280.42 311.61 345.28
Growth Rate 8.48% 20.72% 17.64% 12.88% 11.65% 11.12% 10.81%
Source: Arizton
The global e-learning market was valued at $156.68 billion in 2019 which is expected
to reach $345.28 billion in 2025, growing at a CAGR of 14.08% during the forecast
period.

E-LEARNING MARKET
With smartphone unit shipments expected to grow at a CAGR of 42% and mobile
computing devices by over 18% during the period 2018–2024, the market for e-
learning products is only expected to grow worldwide. The rapid growth in internet
connectivity in emerging economies, driven by the rising federal budgets, is likely to
have a positive impact on market growth. While the growth prospects of the e-
learning market remain strong, the rise of even efficient sub-segments is altering the
learning and training landscape gradually. Cloud-based learning, AR and VR, and
mobile-based learning applications are emerging as the largest winners in the
landscape on account of the leverage they hold over the traditional technology
models in terms of engagement levels, agility, cost, and scalability.
Exhibit 31 E-learning Market Growth Rate by Geographies 2020–2025
30%
25%
20%
15%
10%
5%
0%
2019 2020 2021 2022 2023 2024 2025
North America APAC Europe Latin America MEA Total
Source: Arizton
On the demand side, the growth of the global e-learning market is primarily driven
by the rising requirement for technology-enabled tools that can facilitate better user
engagement, motivation, and collaboration. Blended learning, which incorporates
both off-line and online pedagogy, has become the norm and thus evolved the need
for solutions that can enhance the efficiency of instruction at minimal costs. The same
is also driven by a growing interest of corporates in online learning solutions as they
can enable efficient channelization of IT resources and expenditure to bring-in
measurable improvements in workforce efficiency. For instance, IT organizations
have reported a 40% decline in their functional and language training costs for
manpower to be deployed for cross-border assignments as they adopted cloud-based

E-LEARNING MARKET
learning solutions. These solutions enable the resources to learn language on-the-go
at their convenience.
Further, the business process outsourcing of several activities to developing

countries such as India, the Philippines, Indonesia, China, and Thailand is growing
due to the availability of cost-effective language training solutions that cater to the
requirements of organizations and their customers based in the US and Europe.
While the above constitutes one side of the story, the market growth is fueled on the
supply side by a continuous decline in computing power prices, the rise of open
sourced and content creation platforms, personalized learning, and increased
deployment of blended learning models.

E-LEARNING MARKET
12.3 FIVE FORCES ANALYSIS
Exhibit 32 Five Forces Analysis 2019
Threat of Rivalry
(HIGH)
Bargaining Power Bargaining Power

of Suppliers of Buyers
(LOW) (HIGH)
FIVE FORCES
ANALYSIS
Threat of Threat of New

Substitutes Entrants
(MODERATE) (MODERATE)
Source: Arizton

E-LEARNING MARKET
12.3.1 Threat of New Entrants
Content creation with user reach and engagement stands vital for the success of any
e-learning platform or product. While content creation entails relatively low
investment in view of co-creation with users, the primary challenge is to reach and
acquire the targeted user with minimal acquisition costs. With a few players relying
on machine learning and artificial intelligence to achieve better user engagement,
most players simply adopt the SaaS model for delivery of content and learning
services. The proliferation of cloud-hosting platforms has only made the entry of
players through this mode easier and cheaper with high reliability. With a few entry
barriers and low investment costs entailed in the creation and hosting of an e-
learning platform, there is a high threat of new entrants.
12.3.2 Bargaining Power of Suppliers
Professional content developers, subject matter experts, and instructors remain key
in the creation of online courseware. They play a vital role in the determination in
the quality of content and subsequently, the degree of engagement. Content creation
constitutes 40–45% of the cost of courseware with the same being higher for testing
material. To mitigate excessive reliance on content developers, vendors are pursuing
co-creation and crowdsourcing methods to easily aggregate the content and optimize
costs.
Other major stakeholders involved in the creation of online courseware are hosting
providers and cloud platforms that have become easily accessible with the advent of
the cloud revolution.
12.3.3 Bargaining Power of Buyers
Buyers of online courseware include corporates, federal bodies, schools, colleges, and
vocational users. Corporates and government bodies usually enjoy a high bargaining
power in lieu of their large-scale of purchase or subscriptions; schools and
educational institutions are usually subscribers to platforms that can enable them to
easily formulate the courseware online for better use of their students. All these
institutional buyers usually enjoy significant bargaining power and exercise them
either by seeking a high degree of customization or through negotiating for better
prices. On the other hand, individual buyers, who are likely to subscribe to the
content for their vocational or learning purposes, enjoy little bargaining power
wherein they often have to settle for the listed prices.

E-LEARNING MARKET
12.3.4 Threat of Substitutes
Offline courses, especially for classrooms, involve a fully engaged instructor and are
strong substitutes to e-learning. These offline learning modes usually are better
poised to cater to the individual requirements of the learners in terms of interactivity
and specific learning needs; however, these courses cannot be taken according to the
requirement of the learner. Classroom learning, thus, is taking the route of video
conferencing and archiving to create enough reference ware for learners to follow at
their pace. In addition, offline instructor-led learning is often termed to be cheaper,
faster, and easier to deliver in several corporate and educational end-users. However,
this disparity with offline learning is soon fading away with highly customized
courses and the advent of gamification, which is reining better learner engagement.
12.3.5 Competitive Rivalry
The competitive rivalry among e-learning vendors can be termed to be high. The
basis of competition between vendors often lies in the comprehensiveness and
quality of the content, price, and the ease of access and interactivity of the platform.
LMS offerings with similar features often must settle down with the price-based
competition, while packaged content usually are better placed to demand utility-
based pricing. Further, the switching barriers are also significantly low as there is a
high prevalence of subscription-based pricing; individuals and vocational learners
usually subscribe to freemium offerings followed by short-term subscriptions to
better evaluate the suitability of courseware. The same is also the case for corporate
training online, wherein a high degree of customization is sought. Vendors, however,
are vying to break away from this price-based competition through gamification and
highly interactive delivery modes driven by VR and AR.

E-LEARNING MARKET
DELIVERY MODE
E-LEARNING MARKET
13 DELIVERY MODE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
Exhibit 33 Incremental Growth by Segment 2019 & 2025
DELIVERY MODE 2019 2025 CAGR
PACKAGED CONTENT $92.40 BN $167.58 BN 10.43%
LMS $39.47 BN $119.01 BN 20.19%
OTHERS $24.81 BN $58.69 BN 15.43%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
120%
$80 BN
$75 BN
Y
$34 BN
X
OTHERS PACKAGED LMS

CONTENT
2019 2025

E-LEARNING MARKET
Exhibit 34 Global E-learning Market by Delivery Mode 2019-2025
GLOBAL E-LEARNING MARKET BY END-USERS
INCREMENTAL AND SEGMENTAL CONTRIBUTION OF E-

ABSOLUTE GROWTH LEARNING MARKET BY DELIVERY
ANALYSIS OF DELIVERY MODE 2019
MODE BY 2025
Packaged content is expected to continue to
dominate the global market during the forecast
PACKAGED CONTENT
period.
$75 Bn
(+81%) 16%
Packaged
LMS Content
$80 Bn LMS
(+201%) 25% 59%

Others
OTHERS
$34 Bn
(+137%)
• The packaged content segment leads the market with a share of 59%, which is expected
to grow at a CAGR of 10.43%.
• With a share of 25%, the LMS segment is the fastest growing segment in the global e-
learning market growing at a CAGR of 20.19%.
• North America and APAC lead the other modes segment with the market share of 39%
and 32%, respectively.
Source: Arizton
E-learning encompasses a wide variety of courseware and content delivery services

for various end-user applications. The most prominent ones are packaged content,
LMS, and other emerging learning avenues, including serious games and gamified
mobile applications. Content sourcing, aggregation, and mode of interaction among
end-users are the factors that determine the effectiveness of each e-learning delivery
model.

E-LEARNING MARKET
Packaged content that encompasses ready-to-share e-books, videos, and simulations

has been in existence since the conception of online learning platforms. Packaged
content dominated the market with a share of 59% in terms of revenues in 2019,
followed by LMS systems, which enables easy collaboration of content, testing
material, and information exchange among peer groups both in the academic and
corporate world.
Exhibit 35 Segmental Contribution of Global E-learning Market by Delivery Mode 2019–2025
2019 – $157 Billion 2025 – $345 Billion
25% 16% 17%

34%
49%
59%
Global E-learning
Market by Delivery PACKAGED CONTENT LMS OTHERS
Mode
Source: Arizton
Some of the drivers that are propelling the implementation of gamification in e-

learning are as follows:
› Federal budgets are now focused on solutions that not only improve the enrolment rate
but also the retention rate. The drop-out rate of high school across schools is reported to
be almost 25% as governments are increasingly trying to minimize the same by improving
the student engagement rate.
› Private institutional interest toward gamification is on the rise as it tries to improve the
competitive edge of its pedagogy over the conventional methods
› Globally, the total cost of disengaged manpower and inadequate training is estimated at
5% and 6% of the top line, respectively, especially in large service-based companies.
Gamified applications that can encourage learning are often viewed as effective tools to
address the above challenges given the reward-oriented behavior of employees.
Simulations, on the other hand, are indispensable tools for learning in higher
education as they try to imbibe the real-world trends and acclimatize students to the
dynamic business environment. They are often viewed as effective tools by

E-LEARNING MARKET
universities and corporates alike as something that bridges the skill gap in the real
world to a certain extent.
Table 9 Global E-learning Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Packaged Content 92.40 108.57 124.04 135.73 146.53 157.05 167.58 10.43%
LMS 39.47 50.16 62.18 73.98 87.10 102.03 119.01 20.19%
Others 24.81 30.41 36.29 41.44 46.79 52.52 58.69 15.43%
Total 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton

E-LEARNING MARKET
13.3 PACKAGED CONTENT

13.3.1 Market Size & Forecast
Packaged content in the e-learning industry refers to the study material for courses
on the digital learning platform that is prepared in accordance with 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 a different vendor.
Packaging content includes raw content, assembly, delivery, and presentation of the
information. Assessments and their component questions are a special kind of
learning content that is currently supported by a different set of specifications. When
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.
Exhibit 36 Global Packaged Content Market 2019–2025 ($ billion)
180.0 20%
160.0 18%
140.0 16%
14%
CAGR 120.0
12%
10.43% 100.0
10%
80.0
8%
60.0
6%
40.0 4%
20.0 2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 92.40 108.57 124.04 135.73 146.53 157.05 167.58
Growth Rate 17.50% 14.25% 9.43% 7.96% 7.18% 6.70%
Source: Arizton
The global packaged content market was valued at $92.40 billion in 2019 and is
expected to reach $167.58 billion in 2025, growing at a CAGR of 10.43%.
The packaged content delivery mode is gaining popularity because it is easy, with no
time and space constraint. It also saves time as it nullifies traveling and reaches
students even in remote locations. As this mode of content delivery is cheaper,

E-LEARNING MARKET
students and professionals can learn from anywhere at 30−70% less cost than on
campus.
13.3.2 Market by Geography
Table 10 Global Packaged Content Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 45.28 52.62 59.00 63.44 67.04 70.07 73.39 8.38%
APAC 28.25 34.03 40.26 45.96 51.46 57.05 62.05 14.01%
Europe 14.07 16.40 18.56 19.62 20.86 22.25 23.90 9.23%
Latin America 3.06 3.57 4.06 4.39 4.68 4.97 5.25 9.42%
Middle East & Africa 1.73 1.95 2.15 2.32 2.50 2.73 2.98 9.49%
Total 92.40 108.57 124.04 135.73 146.53 157.05 167.58 10.43%
Source: Arizton

E-LEARNING MARKET
13.4 LMS
Software-as-a-service (SaaS) is a web-based software that 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 cloud-
based services, is an asset in the global e-learning market as it plays a major role in
its growth by increasing the adoption of the software by small, medium and large-
scale corporations.
Exhibit 37 Global LMS Market 2019–2025 ($ Billion)
140.0 30%
120.0
25%
100.0
CAGR 20%
20.19% 80.0
15%
60.0
10%
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 39.47 50.16 62.18 73.98 87.10 102.03 119.01
Growth Rate 27.08% 23.96% 18.98% 17.73% 17.15% 16.64%
Source: Arizton
The global LMS market was valued at $39.47 billion in 2019 and is expected to reach
$119.01 billion in 2025, growing at a CAGR of 20.19%.
All corporate companies are now opting for SaaS-based LMS as a plan for their
employee career developments through their training. The SaaS application can be
classified into three types that include the following:
› Customer Relationship Management SaaS
› Enterprise Resource Planning SaaS
› Human Resources Management SaaS

E-LEARNING MARKET
Table 11 Global LMS Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 16.18 20.58 25.27 29.74 34.41 39.38 45.16 18.66%
APAC 12.85 17.26 22.79 29.02 36.25 44.84 54.41 27.20%
Europe 8.31 9.76 11.14 11.87 12.72 13.68 14.81 10.11%
Latin America 1.66 1.95 2.24 2.44 2.62 2.81 3.00 10.44%
Total 39.47 50.16 62.18 73.98 87.10 102.03 119.01 20.19%
Source: Arizton

E-LEARNING MARKET
13.5 OTHERS
Other important learning models that are increasingly gaining prominence are video-
based learning, virtual classrooms, social learning, gamification, and simulations. Of
all these, gamification and virtual classrooms stand out owing to their high
engagement level and perceived effectiveness. Gamification often cited to be the
future of learning involves the use of video game design and game elements
implemented in the learning environment. To capture interest of learners and
improve engagement to ensure continuous learning, gamification involves the
replication of many elements that entice a player to a non-gaming context to induce
the learner’s interest.
Exhibit 38 Global Other Delivery Modes Market 2019−2025 ($ billion)
70.0 25%
60.0
20%
50.0
CAGR
15%
15.43% 40.0
30.0
10%
20.0
5%
10.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 24.81 30.41 36.29 41.44 46.79 52.52 58.69
Growth Rate 22.56% 19.33% 14.20% 12.90% 12.25% 11.75%
Source: Arizton
The global other delivery modes market was valued at $24.81 billion in 2019 and is
Mobile applications have been an intense subject of gamification implementations in

order to derive high engagement rates. Some most of the adopted elements that are
implemented for gamification of learning applications are as follows:
› Narratives
› Player Controls

E-LEARNING MARKET
› Social Networking
› Collaborative Problem Solving
› Social Connection
› Leveling Up of Challenges
Elements of gamified application such as badges, points, or leaderboards are found

to bring in significant behavioral changes in learners and can be molded for most
learning needs, including induction, sales, customer support, soft skill training,
branding, and compliances. With the ability to bring about a deep impact on learners
in terms of the learning experience, recall, and retention and behavioral change,
gamification is evolving into the next billion-dollar opportunity in the e-learning
market.
Table 12 Global Other Delivery Modes Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 9.76 11.87 13.94 15.69 17.36 19.00 20.84 13.48%
APAC 7.86 10.00 12.50 15.08 17.84 20.90 24.02 20.46%
Europe 5.76 6.82 7.84 8.42 9.09 9.85 10.75 10.97%
Latin America 1.01 1.20 1.40 1.54 1.68 1.82 1.97 11.78%
Total 24.81 30.41 36.29 41.44 46.79 52.52 58.69 15.43%
Source: Arizton

E-LEARNING MARKET
LEARNING MODE
E-LEARNING MARKET
14 LEARNING MODE
LEARNING MODE 2019 2025 CAGR
SELF-PACED $94.44 BN $210.82 BN 14.32%
INSTRUCTOR-LED $62.24 BN $134.46 BN 13.70%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP CONTRIBUTORS
ABSOLUTE GROWTH
120%
$116 BN
Y
$72 BN
X
INSTRUCTOR-LED SELF-PACED
2019 2025

E-LEARNING MARKET
Exhibit 40 Global E-learning Market by Learning Mode 2019–2025
GLOBAL E-LEARNING MARKET BY LEARNING MODE
CAGR COMPARISON OF E-LEARNING

INCREMENTAL AND MARKET BY LEARNING MODE
ABSOLUTE GROWTH ANALYSIS
OF POWER SOURCES BY 2025 The self-paced learning segment is expected to grow at a faster
rate during the forecast period
14.32%
SELF-PACED
$116 Bn
(+123%) 13.70%
INSTRUCTOR-LED
$72 Bn
(+116%)
Instructor-led Self-paced
SEGMENTAL CONTRIBUTION BY LEARNING MODE 2019 & 2025
2019 2025
40% 39%
60% 61%
SELF-PACED INSTRUCTOR-LED
• Globally, the self-paced learning market was dominated by North America, which
accounted for approximately 50% of the market share in 2019.
• The self-paced e-learning segment in countries such as Myanmar, Mongolia, Rwanda,
Sri Lanka, Laos, Nepal, Cambodia, Ethiopia, Senegal, Uganda, Mauritius, Mali,
Slovakia, Namibia, and Lithuania is expected to grow at a CAGR of more than 15% in
during the period 2019–2025.
• Instructor-led learning is popular because it not only offers flexibility to the learner
but also to the instructor, professor, or facilitator.
Source: Arizton

E-LEARNING MARKET
In 2019, the self-paced learning segment dominated the global e-learning market and
accounted for a 60% share. The self-paced segment is expected to maintain its
dominance and is likely to hold a market share of 61% by 2025. Thus, the instructor-
led e-learning segment is expected to witness a decline its market share from 40% in
2019 to 39% by 2025.
Table 13 Global E-learning Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 94.44 114.69 135.45 153.15 171.15 190.15 210.82 14.32%
Instructor-led 62.24 74.44 87.05 98.01 109.27 121.46 134.46 13.70%
Total 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton

E-LEARNING MARKET
14.3 SELF-PACED
The self-paced segment is moving toward maturity and is likely to be overtaken by

new effective methods of knowledge transfers. Globally, the self-paced learning
market was dominated by North America, which accounted for approximately 50%
of the market share in 2019.
The growing preference for continuous learning and scaling new career
opportunities of employees is driving corporates to use technology for accessing the
content at any time and from anywhere across the globe. Europe, Russia, and the UK
have emerged as the major consumers of self-paced e-learning mode over the last
decade. The self-paced e-learning segment in countries such as Myanmar, Mongolia,
Rwanda, Sri Lanka, Laos, Nepal, Cambodia, Ethiopia, Senegal, Uganda, Mauritius,
Mali, Slovakia, Namibia, and Lithuania is expected to grow at a CAGR of more than
15% in during the period 2019–2025.
Exhibit 41 Global Self-paced E-learning Market 2019−2025 ($ billion)
250.0 25%
200.0 20%
CAGR
150.0 15%
14.32%
100.0 10%
50.0 5%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 94.44 114.69 135.45 153.15 171.15 190.15 210.82
Growth Rate 21.44% 18.10% 13.07% 11.76% 11.10% 10.87%
Source: Arizton
The global self-paced segment was valued at $94.44 billion in 2019 and is expected
to reach $210.82 billion in 2025, growing at a CAGR of 14.32%.
A major driver for the growth of self-paced e-learning is the growing attitude among
people to improve their career prospects and enhance their skill-based proficiency.

E-LEARNING MARKET
The following observations were made while conducting a survey for the growth of
self-paced learning:
› About 72.78% of adults consider themselves as lifelong learners.
› About 63.20% of working people or approximately 36.40% of adults are considered as

professional learners. This indicates that in the last one year, they have undertaken an
additional course of learning or training to improve their skillsets and expertise for better
career growth.
Table 14 Global Self-paced Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 46.85 57.02 67.01 75.58 83.87 92.13 101.53 13.76%
APAC 24.91 30.79 37.48 44.11 51.03 58.59 66.14 17.68%
Europe 19.15 22.64 25.99 27.87 30.05 32.50 35.40 10.79%
Latin America 2.48 2.95 3.42 3.77 4.09 4.43 4.77 11.53%
Total 94.44 114.69 135.45 153.15 171.15 190.15 210.82 14.32%
Source: Arizton

E-LEARNING MARKET
14.4 INSTRUCTOR-LED
Instructor-led learning is expected as the future of e-learning. It not only offers

flexibility to the learner but also to the instructor, professor, or facilitator. It reduces
the gaps, and students can seek to clarify their doubts in real-time like normal
classroom teachings.
Exhibit 42 Global Instructor-led Market 2019−2025 ($ billion)
160.0 25%
140.0
20%
120.0
CAGR 100.0
15%
13.70%
80.0
10%
60.0
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 62.24 74.44 87.05 98.01 109.27 121.46 134.46
Growth Rate 19.62% 16.94% 12.59% 11.48% 11.16% 10.70%
Source: Arizton
The global instructor-led e-learning market was valued at $62.24 billion in 2019 and
is expected to reach $134.46 billion in 2025, growing at a CAGR of 13.70%.
This mode of learning is cost effective, saving the cost of travel and other expenses of
the instructor. The instructor can conduct an online class from any part of the world
and can pass on the instructions or provide solutions to the problem. Thus, this mode
of learning offers high cost savings without compromising efficiency or productivity
The following factors are driving the success of instructor-led learning:
› Reduced Cost: Travel and lodging costs can be reduced or eliminated completely
› Convenience: Students have an option to choose the timings when they would like to
participate in the training course. They can either opt from their homes or offices

E-LEARNING MARKET
› Modular Design: To attract and retain the interest of students and professionals, training
content is usually short and precise with incremental modules and can be completed
independently or in combination with other courses or curriculum.
› Increased Capacity and Scalability: This type of learning accommodates a large number
of students without increasing the number of materials or space needed in typical
classroom settings. It can in fact accommodate all the students across the world
› Increased Diversity: Students and instructors from a variety of cultural and geographic
backgrounds can participate simultaneously.
Table 15 Global Instructor-led Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 24.37 28.06 31.20 33.29 34.95 36.32 37.87 7.63%
APAC 24.05 30.50 38.07 45.95 54.52 64.20 74.33 20.69%
Europe 9.00 10.34 11.55 12.04 12.62 13.28 14.06 7.73%
Latin America 3.24 3.77 4.28 4.61 4.89 5.17 5.45 9.03%
Total 62.24 74.44 87.05 98.01 109.27 121.46 134.46 13.70%
Source: Arizton

E-LEARNING MARKET
FUNCTION
E-LEARNING MARKET
15 FUNCTION
FUNCTION 2019 2025 CAGR
TRAINING $113.23 BN $236.13 BN 13.03%
TESTING $43.45 BN $109.15 BN 16.59%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 2 CONTRIBUTORS
ABSOLUTE GROWTH
120%
$123 BN
Y
$66 BN
X
TESTING TRAINING
2019 2025

E-LEARNING MARKET
Exhibit 44 Global E-learning Market by Function Type 2019–2025
GLOBAL E-LEARNING MARKET BY FUNCTION TYPE
CAGR COMPARISON OF E-LEARNING

INCREMENTAL GROWTH MARKET BY FUNCTION TYPE 2019-2025
ANALYSIS OF FUNCTION
TYPE BY 2025
16.59%
13.03%
TRAINING
$123 Bn
TESTING
$66 Bn Training Testing
SEGMENTAL CONTRIBUTION BY FUNCTION TYPE 2019 & 2025
2019 2025
28% 32%
68%
72%
TRAINING TESTING
• The Testing segment constituted a revenue share of 28% in 2019 with a market size of
about $43 billion. Testing primarily comprises the administration of professional tests,
including SAT, GRE, TOEFL, IELTS, GMAT, and several other exclusive and common
admission tests across the world.
• Training, which include professional, governmental-related, and academic, was

estimated at about $113 billion in 2019, with a revenue share of 72% of the global e-
learning market.
Source: Arizton

E-LEARNING MARKET
Training and testing constitute a crucial aspect of any pedagogy with emphasis
required on both for learners to derive the best results. Training involves the
interaction of the user with courseware or LMS systems and includes a wide variety
of audio and video content that can be streamed or stored according to the learner’s
requirement. Testing, on the other hand, involves those resources that are meant to
gauge the level of proficiency attained by the learner through professionally
organized or administered, time-bound tests. Testing also involves a series of Q&As
or simulations that the learner needs to address or be well-versed with before
attending a professional proficiency test.
Digital courseware and content, along with LMS systems and MOOCs that enable
access to a large pool of learning content are referred to as training content in this
report’s context. Training, both professional, governmental-related, and academic,
was estimated at about $113 billion in 2019, with a revenue share of 72% of the global
e-learning market.
Testing, on the other hand, constituted a revenue share of 28% in 2019 with a market
size of about $43 billion, primarily comprising the administration of professional
tests including SAT, GRE, TOEFL, IELTS, GMAT, and several other exclusive and
common admission tests across the world. The market demand for testing services is
estimated at almost twice as much as training services since testing services are often
consumed on a recurrent and paid basis, while courseware purchase and LMS access
are often for a lifetime or an extended period against a purchase.
Table 16 Global E-Learning Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 113.23 135.42 157.89 176.65 195.45 215.22 236.13 13.03%
Testing 43.45 53.72 64.62 74.51 84.97 96.39 109.15 16.59%
Total 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton

E-LEARNING MARKET
15.3 TRAINING
Training focuses on developing the skills of individuals/people/employees to

perform specific tasks. Training in the e-learning market includes providing
information regarding certain processes and day-to-day operations in an online
environment. Some of the useful instruction methods for e-training include speeches,
videos, text documents, demonstrations, and other materials. Training sessions
provide the tools that are essential for individuals/employees to work and perform
their primary tasks effectively; where learning becomes an important part of the
training.
Exhibit 45 Global Training Market 2019−2025 ($ billion)
250.0 25%
200.0 20%
CAGR
150.0 15%
13.03%
100.0 10%
50.0 5%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 113.23 135.42 157.89 176.65 195.45 215.22 236.13
Growth Rate 19.60% 16.59% 11.88% 10.64% 10.11% 9.72%
Source: Arizton
The global training e-learning market was valued at $113.23 billion in 2019 and is
The principles of learning go beyond developing a particular skillset for specific

situations and become an essential component of the individual/employee growth.
› Computer-based training is a new-age learning method that uses special training

programs designed for different tasks. It has many advantages that include providing a
stimulating training environment at its own pace, the convenience of no travel, cost-
effective, is available at multiple locations, and custom-designed for specific tasks.

E-LEARNING MARKET
› Web-based training is a subset of computer-based training and is made available on the

internet through web technologies. It includes animation, audio, video, text, and graphics
and requires additional bandwidth and software to work properly. This training method
provides the latest content of any topic that can be modified and set in a framework for
specific and self-paced instruction.
Table 17 Global Training Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 48.95 57.74 65.78 71.96 77.45 82.56 88.30 10.33%
APAC 37.71 46.83 57.25 67.67 78.63 90.64 102.77 18.18%
Europe 19.86 23.05 25.97 27.33 28.91 30.68 32.79 8.72%
Latin America 4.57 5.35 6.11 6.63 7.08 7.55 8.01 9.80%
Total 113.23 135.42 157.89 176.65 195.45 215.22 236.13 13.03%
Source: Arizton

E-LEARNING MARKET
15.4 TESTING
E-learning testing ensure ease-of-use, the accuracy of the content, instructional

integrity, user satisfaction, and technological soundness. The main objective of
testing in an e-learning program is to ensure its learnability.
Exhibit 46 Global Testing Market 2019−2025 ($ billion)
120.0 25%
100.0
20%
CAGR 80.0
15%
16.59%
60.0
10%
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 43.45 53.72 64.62 74.51 84.97 96.39 109.15
Growth Rate 23.62% 20.29% 15.31% 14.04% 13.44% 13.24%
Source: Arizton
The global e-learning testing market by the testing segment was valued at $43.45
billion in 2019 and is expected to reach $109.15 billion in 2025, growing at a CAGR
of 16.59%.
The following are the three ways to test and improve online training:
› Quality assurance testing includes testing two broad areas: content and functionality. It
includes multi-device testing, multi-browser testing, stress testing, and localization.
› Acceptance testing to find out whether the course meets the user requirements were
originally set out in the specification stage.
› Engagement analytics provides insights to course performance and offers the method to
tweak and improve the learning experience.

E-LEARNING MARKET
Table 18 Global Testing Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 22.26 27.34 32.42 36.92 41.36 45.89 51.10 14.85%
APAC 11.25 14.46 18.30 22.39 26.93 32.14 37.71 22.34%
Europe 8.28 9.93 11.57 12.58 13.76 15.09 16.68 12.37%
Latin America 1.15 1.37 1.59 1.75 1.89 2.05 2.21 11.47%
Total 43.45 53.72 64.62 74.51 84.97 96.39 109.15 16.59%
Source: Arizton

E-LEARNING MARKET
END-USERS
E-LEARNING MARKET
16 END-USERS
END-USERS 2019 2025 CAGR
K-12 $34.72 BN $73.69 BN 13.37%
HIGHER EDUCATION $38.36 BN $76.67 BN 12.24%
CORPORATE $47.41 BN $122.32 BN 17.11%
GOVERNMENT $19.91 BN $36.81 BN 10.79%
VOCATIONAL $16.29 BN $35.79 BN 14.02%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
120%
$75 BN
$39 BN
Y
$38 BN
X
HIGHER K-12 CORPORATE

2019 2025 EDUCATION

E-LEARNING MARKET
Exhibit 48 Global E-Learning Market by End-users 2019–2025
GLOBAL E-LEARNING MARKET BY END-USERS
INCREMENTAL AND
ABSOLUTE GROWTH SEGMENTAL CONTRIBUTION BY
ANALYSIS OF END-USERS END-USER TYPE
BY 2025
The corporate sector is expected to dominate the global
CORPORATE
market during the forecast period.
$75 BN
(+158%) K-12
HIGHER EDUCATION 10%
$38 BN 22% Higher
(+100%) 13% Education
Corporate
K-12
$39 BN
Government
(+112%) 25%
30%
VOCATIONAL
Vocational
$20 BN
(+120%)
• The corporate e-learning segment dominated the market with a share of 30% in 2019
and is expected to grow at a CAGR of 17.11% during the period 2019–2025.
• The higher education segment is the second largest sector and accounted for a
market share of ~25% in 2019, which is likely to grow at a CAGR of 12.24% during
the period 2019–2025.
• The K-12 segment accounted for a market share of 22% in 2019 and is projected to
grow at a CAGR of 13.37% during the period 2019–2025.
• The government segment accounted for a market share of 13% in 2019 and is
expected to grow at a CAGR of 10.79% during the period 2019–2025.
• The vocational segment accounted for a market share of 10% in 2019 and is likely to
grow at a CAGR of 14.02% during the period 2019–2025. The growth of this segment
in underpinned by an increasing demand from North America and APAC.
Source: Arizton
E-learning platforms vary significantly in terms of courseware, delivery modes, and

user interactive-ness with each targeted end-user segment. The same is on account of
varied learning outcomes and general engagement levels involved. The academic

E-LEARNING MARKET
segment, which usually involves K-12 and higher education sub-segments,

traditionally subscribed to digital resources in order to enable better access and reach
to students. The same evolved into learning management solutions that can
streamline and properly deliver the courseware, conduct, consolidate learner results,
and accommodate instructor-learner interactions. However, they lacked high
engagement levels; as a result, gamification and simulations have made inroads into
the global e-learning market in recent years. The corporate learning segment, on the
other hand, adopts e-learning majorly to improve employee engagement and ensure
continuous learning. Federal stakes on e-learning are usually concentrated on the
front of e-governance: training workforce, creating backbone connectivity, and
opening source resource platforms for job seekers. The vocational user segment is
majorly intended for skill acquisition and improvement in addition to meeting
functional requirements.
The K-12 and higher education segments constituted approximately 22.16% and
24.48% of revenue, respectively, for the digital learning market in 2019 and are driven
by the following factors:
› Increased federal budgetary allocations to education as they invest in improving digital

connectivity and ensuring high-quality education to subsequently acquire resource
competitiveness
› High private investments for vendors catering to learning resources for education. This
has increased the reach of digital resources to an expanding young population segment
in key economies such as India and China. These emerging countries provide immense
market potential as most market is still untapped. With the infrastructural push of the
federal governments, the opportunity looks more promising
On the other hand, the corporate e-learning market, which generated $47.41 billion
in revenues in 2019, stands as a major market driven by increasing emphasis on talent
upgrading and retention. In addition, globalization is mandating a different set of
functional and language skills for the critical workforce as companies expand their
business presence across geographies.
The demand for digital learning from the vocational learner segment accounted for
$16.29 billion in revenues in 2019. It is driven by job seekers that are looking to
upgrade language and functional skills to meet professional requirements within the
country or beyond.

E-LEARNING MARKET
Table 19 Global E-learning Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 34.72 41.69 48.75 54.71 60.68 66.96 73.69 13.37%
Higher Education 38.36 45.57 52.78 58.67 64.45 70.44 76.67 12.24%
Corporate 47.41 58.77 71.01 82.28 94.32 107.59 122.32 17.11%
Government 19.91 23.40 26.77 29.34 31.79 34.25 36.81 10.79%
Vocational 16.29 19.70 23.19 26.16 29.18 32.36 35.79 14.02%
Total 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton

E-LEARNING MARKET
16.3 CORPORATE
The corporate training market has the smallest market share than other education-
based sectors, however, it continues to offer excellent investment opportunities for
vendors in the global e-learning market. Among all the segments in the education
sector, the corporate training segment remains the most cyclical. This segment
experienced a low point during the period 2009–2010. The key data to measure this
segment is the amount spent per employee. Since 2010, the total amount spent on
training for employees by employers has been declining. It is important to consider
that the size of this market is calculated to include corporate spending on salaries,
overheads, and facilities. Also, there have been no variations in the in-house sourcing
and outsourcing of e-learning resources.
Exhibit 49 Global Corporate E-Learning Market 2019−2025 ($ billion)
140.0 30%
120.0
25%
100.0
CAGR 20%
17.11% 80.0
15%
60.0
10%
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 47.41 58.77 71.01 82.28 94.32 107.59 122.32
Growth Rate 23.97% 20.83% 15.87% 14.62% 14.08% 13.68%
Source: Arizton
The global corporate e-learning market was valued at $47.41 billion in 2019 and is
In recent years, organizations have drastically cut down on most of their assets. The
corporate market related to outsourced services has been on the rise. Currently,
outsourced services account for 42% of the total expenditure among corporate
organizations.

E-LEARNING MARKET
The e-learning segment in the training industry has grown consistently in recent
years. All its sub-segments (packaged content, platform, and authoring tools)
witnessed positive annual growth. E-learning platforms are leading the market,
especially those using the “hosted” formula, followed by content-ready courses
available for immediate e-learning delivery. It is vital to understand the difference in
buying patterns in several countries, wherein all the statistics relate to the overall
market. It is important to analyze several buyers, such as educational institutions and
private companies.
Exhibit 50 Requisites for E-learning in Corporate Segment
CORPORATE TRAINING BREAKDOWN KEY REASONS FOR COMPANIES TO

BY TOPIC ADOPT ONLINE EDUCATION TOOLS
Job Specific Technical Skills 25–28%

Recruitment & Talent Acquisition 23–25%
Job Specific Soft Skills 13–15%
Compliance (policy, safety, ethics) 15–17% Onboarding 16–18%
Leadership Development 9–11%
Performance Evaluation 9–11%

Individual Competency Development 20–25%
Service & Product Knowledge 10–14% Skills Development 38–40%
Business Acumen 7–9%
Employee Retention 12–14%

Development of Potential Employees 6–8%
Performance Support 5–7%

Others 11–13%
Non-employee Training 3–6%
The response range does not add up to 100% as the responses are vertically dependent and present the views for each
parameter separately.
Source: Arizton
In mature markets, despite long buying cycles, large companies are making
considerable profit margins. Large companies can be early adopters as their training
programs, content covers compliance, IT management, and industry-related courses.
Formal learning hours using technology-based models have been increasing on an
average; however, learning hours used per employee is not witnessing linear growth.
Several award-winning and leading organizations have the most demanding
training systems. Also, these organizations are open to embarking on e-learning
projects.

E-LEARNING MARKET
E-learning has been accepted both in large and small companies. The shift toward
cloud-based language learning is due to several reasons, of which budget constraints
remain the deciding factor. The cloud-based language learning helps to reduce travel
costs, time constraints, and the cost of training per employee. Cloud-based learning
is not a mere solution during economic turndown but is also cost-effective, efficient,
and timesaving. When the workforce is geographically distributed, cloud-based
learning helps to bring workers up to speed quickly on relevant knowledge and
skills.
In corporations, e-learning tends to be adopted only in a particular subject matter.

Compliance training is the area that is widely adopted in e-learning. More than 50%
of the training related to compliance practices are now delivered online.
Table 20 Global Corporate E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 20.00 24.54 29.07 33.06 37.01 41.02 45.63 14.73%
APAC 15.42 19.84 25.14 30.79 37.05 44.23 51.92 22.43%
Europe 9.44 11.34 13.24 14.42 15.80 17.35 19.20 12.56%
Latin America 1.62 1.94 2.27 2.53 2.77 3.02 3.29 12.52%
Total 47.41 58.77 71.01 82.28 94.32 107.59 122.32 17.11%
Source: Arizton

E-LEARNING MARKET
16.4 HIGHER EDUCATION

Higher education is always considered more than information, irrespective of how

much information can be stored and how quickly the information gets disseminated.
Connections always drive our education institutions, connections among
communities, faculty, educations, disciplines, students, and institutions.
Collaborations tools, communities, and data come together like never before in this
connected age. It does not matter where the student is or where the student is from;
the only thing that matters is the value that comes from the connection. One of the
most affected sectors in e-learning or internet-based learning adoption is the higher
education sector, and the benefits of implementing such technologies are observable.
Exhibit 51 Global Higher Education E-learning Market 2019−2025 ($ billion)
90.0 20%
80.0 18%
70.0 16%
14%
CAGR 60.0
12%
12.24% 50.0
10%
40.0
8%
30.0
6%
20.0 4%
10.0 2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 38.36 45.57 52.78 58.67 64.45 70.44 76.67
Growth Rate 18.81% 15.81% 11.16% 9.86% 9.29% 8.85%
Source: Arizton
The global higher education e-learning market was valued at $38.36 billion in 2019
and is expected to reach $76.67 billion in 2025, growing at a CAGR of 12.24%.
Key market development is a high demand for digital courses, content, educational
materials, as well as paid subscriptions for global e-learning platforms. The advent
of massive open online courses has witnessed unprecedented traction among
students of international universities and schools. Europe has a well-established
market for e-learning in the higher education, corporate, and K-12 segments. This can
be attributed to the early adoption of digital education pedagogy among schools.

E-LEARNING MARKET
Also, different European countries demonstrate differing maturity levels of using

digital learning technologies, which is attributed to cultural variations and factors
regarding the perceived business value of digital learning and technology factors.
Table 21 Global Higher Education E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 16.75 19.65 22.28 24.25 25.96 27.54 29.30 9.78%
APAC 13.07 16.07 19.45 22.74 26.14 29.80 33.41 16.93%
Europe 6.07 6.99 7.82 8.16 8.57 9.02 9.56 7.87%
Latin America 1.66 1.93 2.19 2.36 2.51 2.65 2.79 9.03%
Total 38.36 45.57 52.78 58.67 64.45 70.44 76.67 12.24%
Source: Arizton

E-LEARNING MARKET
16.5 K-12
K-12 (kindergarten till 12th grade) is the term commonly used for first 13 years of
schooling of an individual before entering university. The K-12 sector has been in
focus for most countries and US multinationals in recent years. The economic crisis
has created a dilemma for public expenditure on education over skills acquisition
and entering the labor market. However, modernization has led to an interest in
applications of new technologies in the K-12 sector.
The K-12 segment relates to public education bodies, primary, and secondary private
education entities. Products and solutions for digital publishing must be
incorporated by digital technologies in the K-12 sector. Textbooks, educational
applications, and tools for skill assessments for students and teachers are necessary.
The K-12 segment has played a major role in the consistent growth of the global
educational expenditure. Mobile devices and gamification tools play a major role as
market drivers in the K-12 segment.
Exhibit 52 Global K-12 E-learning Market 2019−2025 ($ billion)
80.0 25%
70.0
20%
60.0
CAGR 50.0
15%
13.37%
40.0
10%
30.0
20.0
5%
10.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 34.72 41.69 48.75 54.71 60.68 66.96 73.69
Growth Rate 20.09% 16.94% 12.22% 10.93% 10.35% 10.05%
Source: Arizton
The global K-12 e-learning market by was valued at $34.72 billion in 2019 and is
Many established and new companies are entering the global e-learning market,
which is estimated to witness a cumulative annual growth rate of 16% by 2020. In the

E-LEARNING MARKET
K-12 sector, tablets are the most used mobile devices. All online players in this market
are rethinking their offerings to be a major player. Education technology plays an
important and strategic role in changing textbooks to e-books. Schools are quickly
adopting different solutions due to the high pricing of textbooks. This means creating
free and downloadable e-books and providing access to e-books. However, the sale
of e-books since 2017 has not been fruitful. An environment with a library of books
for hosting e-books for LMS is an emerging trend that is expected to gain popularity
during the forecast period.
Table 22 Global K-12 E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 17.39 20.63 23.63 25.98 28.12 30.14 32.41 10.93%
APAC 10.00 12.54 15.48 18.46 21.64 25.17 28.77 19.25%
Europe 5.54 6.44 7.27 7.65 8.11 8.61 9.21 8.84%
Latin America 1.35 1.58 1.81 1.97 2.11 2.25 2.40 10.06%
Total 34.72 41.69 48.75 54.71 60.68 66.96 73.69 13.37%
Source: Arizton

E-LEARNING MARKET
16.6 GOVERNMENT
E-learning is one of the thrust areas identified by the government for imparting
education using educational tools and communication media. It is the learning
facilitated and supported by Information Communication Technologies (ICT), whose
objective is to develop tools and technologies to promote e-learning. Governments
across the globe are financially supporting R&D projects in the field of e-learning at
various R&D labs and academic educational institutes. These projects focus on the
area of content development, human resource development projects, technology
development projects, and faculty training to improve the literacy through ICT tools,
which include computers, multimedia, and the internet. LMS products and open-
source content sharing platforms continue to dominate this segment with
preparation for e-governance remaining inherent to it.
Exhibit 53 Global Government E-learning Market 2019−2025 ($ billion)
40.0 20%
18%
35.0
16%
30.0
14%
CAGR 25.0
12%
10.79%
20.0 10%
8%
15.0
6%
10.0
4%
5.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 19.91 23.40 26.77 29.34 31.79 34.25 36.81
Growth Rate 17.55% 14.41% 9.59% 8.34% 7.74% 7.47%
Source: Arizton
The global government e-learning market by government agencies was valued at

$19.91 billion in 2019 and is expected to reach $36.81 billion in 2025, growing at a
CAGR of 10.79%.
The drivers for digital learning from federal and various governmental institutions
are as follows:

E-LEARNING MARKET
› With governments worldwide, especially in emerging economies such as India, China,

Indonesia, and Africa, investing in their internet infrastructure, there has been increased
connectivity among large tracts of the population due to the rising smartphone
ownership. More than one billion people across the world will be provided with first-
time access to the internet, unlocking huge opportunities for digital learning.
› An expensive paper trail, lack of traceability, and delayed decision making is forcing
several federal governments to adopt e-governance wherein key administration
procedures, approvals, and sanctions will be channeled online, weeding out corruption,
and aiding fast decision making. An estimated $50 billion is expected to be spent by
governments worldwide to enable e-governance during the forecast period. This opens
up significant learning opportunities in terms of computer literacy, English language
proficiency and several developments, and administering tools for key governmental
personnel.
› Nodal educational bodies in several developing countries, including India, China, Africa,
and several Southeast Asian countries, have committed investments in excess of $4 billion
to establish an open-source learning platform that can offer seamless access to trainers,
teachers, and students to huge repositories of learning material and tests.
Table 23 Global Government E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 9.37 10.97 12.41 13.47 14.40 15.23 16.17 9.53%
APAC 5.58 6.74 8.02 9.23 10.43 11.69 12.88 14.96%
Europe 3.88 4.45 4.96 5.16 5.40 5.67 5.99 7.52%
Latin America 0.78 0.89 1.00 1.06 1.10 1.15 1.19 7.37%
Total 19.91 23.40 26.77 29.34 31.79 34.25 36.81 10.79%
Source: Arizton

E-LEARNING MARKET
16.7 VOCATIONAL
People that are interested in vocational education usually have a high school
diploma, and they pursue vocational education rather than attend college or
professional schools. Vocational education has a specific and practical focus rather
than an academic one, and it is designed to provide people with the skills needed to
start a career in their area of interest. After training, people will be eligible for licenses
if a license is required in their chosen field, and they can start work immediately.
Many governments contribute to vocational education to ensure that people with
technical skills will be readily available and provide career options for people who
are not interested in college, or who may not be able to afford a technical or trade
school on their own.
Exhibit 54 Global Vocational E-learning Market 2019−2025 ($ billion)
40.0 25%
35.0
20%
30.0
CAGR 25.0
15%
14.02%
20.0
10%
15.0
10.0
5%
5.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 16.29 19.70 23.19 26.16 29.18 32.36 35.79
Growth Rate 20.92% 17.71% 12.82% 11.54% 10.91% 10.59%
Source: Arizton
The global vocational e-learning market was valued at $16.29 billion in 2019 and is
The worldwide unemployment and underemployment rate are estimated at 30%,

which signifies that a huge proportion of the labor force is without jobs. The global
unemployment rate stood at 5.39% in 2019. With the unemployment rate often being
seen as a benchmark of an economy’s progress/development, governments lay

E-LEARNING MARKET
immense emphasis on training the unemployed workforce with adequate skills to

ensure large industrial productivity.
While most existing federal resources are not termed to be adequate in emerging
countries of Africa and Asia, several innovative learning platforms fill in this gap
through highly differentiated learning and testing content. Gamification, blended
learning, and m-learning are some of the key trends characterizing vocational
learners. There has been a high demand for diverse content from this section of users,
ranging from language learning to functional subjects such as web development,
engineering, sciences, and commerce and finance. Some interesting pointers to the
demand for e-learning content from this segment are as given below:
› Price points in the form of pay per use or subscriptions for offerings for this segment are
small but high in terms of ROI for vendors.
› The demand for web development resources and language learning together constitutes
40% of the demand from vocational users in India.
› Language learning constitutes 30–35% of the market revenues in developed economies of

the EU, the US, and the Middle East from this end-user segment.
› Computer and internet training with basic functional tools and services constitute as
much as 25–30% of the revenues in Africa and some Middle Eastern economies.
Table 24 Global Vocational E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 7.71 9.30 10.83 12.11 13.32 14.52 15.88 12.80%
APAC 4.89 6.09 7.47 8.84 10.30 11.89 13.50 18.44%
Europe 3.22 3.76 4.26 4.51 4.80 5.12 5.51 9.38%
Latin America 0.32 0.37 0.42 0.46 0.49 0.52 0.55 9.85%
Total 16.29 19.70 23.19 26.16 29.18 32.36 35.79 14.02%
Source: Arizton

E-LEARNING MARKET
GEOGRAPHIC SEGMENTATION
E-LEARNING MARKET
17 GEOGRAPHY
Exhibit 55 Incremental Growth by Geography 2019 & 2025
REGION 2019 2025 CAGR
NORTH AMERICA $71.22 BN $139.40 BN 11.84%
APAC $48.96 BN $140.48 BN 19.20%
EUROPE $28.14 BN $49.47 BN 9.86%
LATIN AMERICA $5.72 BN $10.22 BN 10.15%
MIDDLE EAST & AFRICA $2.64 BN $5.72 BN 13.78%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
120%
$92 BN
$68 BN
Y
$21 BN
X
EUROPE NORTH APAC

AMERICA
2019 2025

E-LEARNING MARKET
17.2 GEOGRAPHIC OVERVIEW

The global e-learning market can be cited to be highly concentrated. North America
was the largest market for e-learning solutions with a revenue share of 45% in 2019,
driven by efficient learning infrastructure and the proliferation of modern learning
methods. The US and China represented the world’s two largest markets for e-
learning and accounted for collective share of 44% of the global market in terms of
revenues. However, APAC, especially India and Middle East & Africa represent a
huge growth potential and traction during the forecast period.
Exhibit 56 Global E-learning Market by Geographies 2019–2025
NORTH AMERICA LATIN AMERICA EUROPE MEA APAC

MARKET SHARE: MARKET SHARE: MARKET SHARE: MARKET SHARE: MARKET SHARE:
45.45% 3.65% 17.96% 1.68% 31.25%

CAGR: CAGR CAGR CAGR CAGR
11.84% 10.15% 9.86% 13.78% 19.20%
Source: Arizton
The proliferation of e-learning solutions in each geography heavily depends on the

prevalence of internet infrastructure, mobile connectivity, maturity of primary and
secondary educations systems, corporate learning and training expenditure, federal
budgetary allocations to education, availability of start-up ecosystem that can groom
disruptive ed-tech players, literacy rates, and cultural inclination toward various
education models.

E-LEARNING MARKET
Exhibit 57 Global Population & Penetration of Internet and Smartphones 2019
Source: Arizton

E-LEARNING MARKET
In addition to the macroeconomic factors affecting the global e-learning market, the
following also pose an indirect impact:
Immigration rules and liberality of visa regimes, both short term and professional,
since it determines the demand for short-term skill development and language
learning courses
› Corporate budgets on continuous skill development of employees.
› Exchange programs and student exodus in search of academic pursuit in best of

universities across borders. This segment not only propel the demand for functional e-
learning modules but also drive the demand for language learning courses and English
proficiency testing services.
› Global FDI flows since they determine the extent of talent exchange for both short-term
and long-term professional assignments.
› Federal expenditure on education, especially those pertaining to the acquisition of

devices and infrastructure, establishing backbone connectivity, standardization of
learning processes, and certifications.
Table 25 Global E-learning Market by Geography 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
North America 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
APAC 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Europe 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Latin America 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Total 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton

E-LEARNING MARKET
NORTH AMERICA
E-LEARNING MARKET
18 NORTH AMERICA
Exhibit 58 E-learning Market in North America 2019–2025
NORTH AMERICA E-LEARNING MARKET ANALYSIS
Key Markets in North America by Revenue (%)

PREFFERED PRODUCT SEGMNENTS
• PACKAGED CONTENT: $45.28 BN/ CAGR 8.38%
• SELF-PACED : $46.85 BN/ CAGR 13.76%
19% • TRAINING : $48.95 BN/CAGR 10.33%
• CORPORATE : $20 BN/ CAGR 14.73%
US
Canada FASTEST GROWING SEGMENTS
• LMS : $16.18 BN/ CAGR 18.66%

81% • TESTING : $22.26 BN/CAGR 14.85%
END USER CONTRIBUTION 2019
E-LEARNING MARKET BY END-USERS 2019 ($ BILLION) Major End-user Analysis

20.00
17.39 16.75 The corporate sector is expected to
remain the largest segment in the North
American market.
9.37
7.71
The corporate e-learning segment is
expected to witness the fastest
growth during the forecast period
Corporate K-12 Higher Government Vocational with a CAGR of 14.73%
Education
• The US is the largest self-paced learning market in the world with the potential to radically influence
the prospect of the global e-learning market.
• Corporate learning, which constituted close to 28% revenue in 2019, is witnessed rapid growth
during the forecast period in the US.
• The e-learning market in Canada is driven by the aggressive adoption of interactive learning modes
in academics. The higher education and corporate segments are the major buyers and subscribers of
online content.
Source: Arizton

E-LEARNING MARKET
North America, which includes the key countries of the US and Canada, constitutes
key geography as it hosts the most advanced and largest economies of the world. The
US and Canada, despite hosting several technological innovations, are set to grapple
with massive investments required to maintain and upgrade the existing
technological infrastructure setup. With an estimated 5% of the region’s GDP
invested on education, the region hosts some of the finest and prominent higher
educational institutions. Further, the US and Canada have some of the most
regulated standards and certifications in the world with an emphasis on catering to
the individual’s learning needs and areas of interest. E-learning is prominent in the
region driven by better availability of internet infrastructure and high ownership of
smartphones and tablets.
Exhibit 59 North America E-learning Market 2019–2025 ($ billion)
160.0 25%
140.0
20%
120.0
CAGR 100.0
15%
11.84%
80.0
10%
60.0
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 71.22 85.08 98.20 108.88 118.81 128.45 139.40
Growth Rate 9.05% 19.47% 15.42% 10.87% 9.13% 8.11% 8.52%
Source: Arizton
The e-learning market in North America was valued at $71.22 billion in 2019 and is
expected to reach $139.40 billion in 2025, growing at a CAGR of 11.84% during the
forecast period.
The demand for e-learning from the institutional segment in the region is driven by
high awareness of their advantages over conventional offline learning models, better
technological infrastructure, and extensive reach of innovative learning and training
solutions. The same is further reinforced by technology-leveraged industries that

E-LEARNING MARKET
warrant an advanced degree of language proficiency, functional, and vocational

expertise and soft skills.
Exhibit 60 Annual Savings Ratio 2009–2019
14%
12%
10%
8%
6%
4%
2%
0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Arizton
The high demand for e-learning solutions in the US mainly influences the market
growth in North America. With the increasing trend of using online courses and
learning materials as a practical substitute for regular classroom teaching, the market
is experiencing tremendous growth. This is driving the popularity and acceptance of
e-learning solutions across all segments. The high average disposable income of the
population, the rapid proliferation of smartphones, and innovations in the
development of interactive and gamified learning platforms are the main factors that
are expected to fuel the market growth in terms of user base and subscriptions in the
region. Factors such as an increase in the spending power of millennials, high
adoption of smartphones, inclination toward new technology, high urbanization,
and an eventually increased are driving the growth of the e-learning market in the
region.
The market also ranks ahead of others in terms of innovation and certification
standards that bode well for product development and market structure, wherein the
competition is often measured through engagement levels, degree of customization,
and the quality of content rather than price. However, we predict the rise of price-
based competition given substantially discounted subscriptions and freemium
offerings on the cloud, especially from smaller emerging players.

E-LEARNING MARKET
18.1.2 Students Education & Enrollment
Exhibit 61 Students Education & Enrollment in US 2018
The number of students enrolled in the US in schools was over 76 million in 2018, not Population (Age 3 and above)
statistically different from 2016. Those who are enrolled make up 24.7% of the
308,935,000
population age 3 and above. Enrolled in School
Classrooms are becoming ethnically and racially diverse. In 2007, 56.7% of

Number Percentage
elementary school students (K-8) and 66.1% of college students (undergraduate and
graduate) were non-Hispanic white. Total 76,409 24.7%
In 2018, about half (49%) of elementary school students and 54.7% of college students Nursery / Kindergarten 8,640 2.8%
were non-Hispanic white.
Elementary 32,530 10.5%
In 2018, non-Hispanic white students make up 51.9% of all populace enrolled in
school, compared to 59.7% in 2007. High School 16,841 5.5%
Since 2007, the overall enrollment in high school has not significantly changed; College (undergraduate or
18,398 6.0%
however, more people are graduating from high school. The percentage of 18 to 24- graduate)
year old who graduated from high school increased from 83.9% in 2007 to 87.5% in
2018. Not Enrolled in Schools
While the number enrolled in colleges has remained unchanged since 10 years ago, Number Percentage
there has been a substantive change over the past decade – the overall number
climbed by around 2 million from 2007 to 2011 before receding to 18.4 million in 2018. Total 232,526 75.3%
Women continue to be a majority on college campuses at 54.9% of undergraduate High School Graduate 203,148 65.8%
students and 59.8% of graduate students. Only 29.3% of undergraduate college
students are attending two-year institutions. Not High School Graduate 29,378 9.5%
Source: Arizton

E-LEARNING MARKET
18.2 DELIVERY MODE

Table 26 North America Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 16.18 20.58 25.27 29.74 34.41 39.38 45.16 18.66%
Others 9.76 11.87 13.94 15.69 17.36 19.00 20.84 13.48%
Total 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton
18.3 LEARNING MODE

Table 27 North America Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 46.85 57.02 67.01 75.58 83.87 92.13 101.53 13.76%
Instructor-led 24.37 28.06 31.20 33.29 34.95 36.32 37.87 7.63%
Total 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton
18.4 FUNCTION TYPE

Table 28 North America Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 48.95 57.74 65.78 71.96 77.45 82.56 88.30 10.33%
Testing 22.26 27.34 32.42 36.92 41.36 45.89 51.10 14.85%
Total 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton

E-LEARNING MARKET
18.5 END-USERS
Table 29 North America Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 17.39 20.63 23.63 25.98 28.12 30.14 32.41 10.93%
Corporate 20.00 24.54 29.07 33.06 37.01 41.02 45.63 14.73%
Government 9.37 10.97 12.41 13.47 14.40 15.23 16.17 9.53%
Vocational 7.71 9.30 10.83 12.11 13.32 14.52 15.88 12.80%
Total 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton

E-LEARNING MARKET
18.6 KEY COUNTRIES
Exhibit 62 Incremental Growth in North America 2019 & 2025
COUNTRY 2019 2025 CAGR
US $57.66 BN $111.76 BN 11.66%
CANADA $13.56 BN $27.63 BN 12.60%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP CONTRIBUTORS
ABSOLUTE GROWTH
96%
$54 BN
Y
$14 BN
X
CANADA US
2019 2025

E-LEARNING MARKET
18.6.1 US: Market Size & Forecast
The US ranks ahead of large developed economies almost on all benchmarks

measured for implementation of e-learning. With an internet penetration of over 90%
and smartphone penetration of 75% as of January 2019, the country hosts a robust
connectivity infrastructure. However, the country has almost a uniform literacy rate
since the past decade with minimal improvement, wherein 14% of the population do
not and cannot read. Further, an estimated 20% of adults in the country have a
literacy level of below 5th grade, and 20% of high school graduates cannot read.
While all this would mean an ideal growth setup for the e-learning market, the
market confronts some challenges to the adoption of online learning.
Exhibit 63 E-learning Market in US 2019–2025 ($ billion)
120.0 25%
100.0
20%
CAGR 80.0
15%
11.66%
60.0
10%
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 57.66 68.77 79.25 87.72 95.57 103.16 111.76
Growth Rate 19.28% 15.24% 10.69% 8.95% 7.94% 8.34%
Source: Arizton
The US e-learning market was valued at $57.66 billion in 2019 and is expected to
reach $111.76 billion in 2025, growing at a CAGR 11.66%.
The US is the largest self-paced learning market in the world with the potential to
radically influence the prospects of the global e-learning market. Some of the factors
that characterize the education system in the country, and the e-learning market, in
particular, are as follows:
› With a nearly trillion-dollar budgetary allocation, the US spends in excess of $13,200 per
public student enrolled in the fall. An estimated 80% of this expenditure goes into the
operational expenditure of schools and colleges, 8–10% on capital outlay, and the

E-LEARNING MARKET
remaining on interest servicing. E-learning thus remains indispensable in this context

wherein the question is no longer about the spend, however, on the quality of the spend
› The country has a heavily decentralized education system with states and counties
retaining major power. However, the federal government through the US Department of
Education exercises reasonable control through the launch of several initiatives such as
the “No Child Left behind Act” and the “Race to the Top” program, while exercising
control on funding to institutions. E-governance thus plays a major role in administration,
coordination, and collaboration among several primary, secondary, and tertiary levels of
institutions.
› Public and private investments together constitute an annual flow of about $1.3 trillion
into the country’s education system, with a significant amount of it channelized to
improve the effectiveness of the conventional learning and training methods. E-learning
is widely adopted in the entire pedagogic value chain, the scope of tech-enabled
education platforms in the country ranges from collaborative learning, language training,
K-12, and higher education course administering, offering repositories of openly
accessible content, proficiency, and aptitude testing services, remote learning, serious
mobile games, and corporate learning platforms.
› While there has been a remarkable evolution of the e-learning market in the country over
the past few decades, the prospects will not be the same in the future in the absence of
some fundamental changes.
The following are some of the pointers that characterize the market structure and
growth prospects during the forecast period:
› The e-learning market is dominated by LMS systems and language training and
proficiency testing segment, followed by higher education segment. In 2018, the LMS
systems segment constituted more than $2 billion in revenues in the country and are
witnessing tepid growth on account of the growing preference for interactive systems by
faculty and students. LMS systems are perceived to restrict academic sharing, with
limited customizations and schools often are weighing them against open, customizable
platforms that can be implemented faster and are offered cheaper than licensed LMS
systems.
› Serious gaming, which finds its applications ranging from academic education to military
training, is a rage in the market with a wide range of military strategy games.
Organizations, corporates, and institutions are using them to improve the engagement
levels of the targeted audience.

E-LEARNING MARKET
› Open learning platforms that facilitate easy learning and collaboration of content,
especially targeted at the K-12 and higher education segments, are increasingly posing a
challenge to subscription models of conventional players such as Pearson and McGraw
Hill Education. Further, regulations emphasizing on open licensing of copyrightable
intellectual property created with federal grants or public funds to ensure equal access
for all teachers and students are challenging the conventional monetization models. The
same is resulting in most ed-tech players focusing on individual needs rather than
institutional needs in this target segment.
› Corporate learning has witnessed tepid growth over the past few years. However, driven
by a protectionist policy of the Trump administration pertaining to hiring talent in key
multinationals in the country, it is getting imperative for companies to stack up their
training budgets to effectively recruit and train indigenous talent. An estimated $3.4
billion is set to be spent during the forecast period by prominent large to medium-sized
companies in the country

E-LEARNING MARKET
18.6.2 Canada: Market Size & Forecast
With a population of 36.9 million in 2018, Canada is one of the advanced economies
with a better quality of life and faring well in housing, personal security, health
status, income and wealth, social statuses, environmental quality, labor market,
work-life balance, civic engagement and responsibilities, and education and skills.
The country had an average household net-adjusted disposable income per capita of
$32,917 in 2018. It spends over 4% of its GDP on education; education is mandatory
in the country up to the age of 16, with it being heavily funded by federal and
provincial governments. The evolution of e-learning in Canada can be termed to be
a rub-off effect from the US, which hosts one of the largest e-learning markets.
Exhibit 64 E-learning Market in Canada 2019–2025 ($ billion)
30.0 25%
25.0
20%
CAGR 20.0
15%
12.60%
15.0
10%
10.0
5%
5.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 13.56 16.31 18.95 21.15 23.24 25.29 27.63
Growth Rate 20.28% 16.20% 11.62% 9.86% 8.84% 9.25%
Source: Arizton
The e-learning market in Canada was valued at $13.56 billion in 2019 and is expected
The following are some of the factors that are driving the evolution of the e-learning
market in Canada:
› With an internet penetration of 95.9% in 2019, around 50% Canadian spends more than
10 hours per week on the internet, an intensive user of video content and file sharing, and
is a major user of social platforms. E-learning in the region is driven by the aggressive
adoption of interactive learning modes in academics, wherein the higher education and
corporate segments are the major buyers and subscribers of online content. Private

E-LEARNING MARKET
expenditure on e-learning, although small at 37.14% in 2016, is growing YOY at 9.95%

due to aggressive vendor investments on collaborative platforms that can facilitate better
learning through rich content.
› The net migration rate, which is the difference between the number of persons entering
and leaving a country during the year per 1,000 persons (based on midyear population),
is a barometer to measure the influx and outflux of population and signifies the
availability of skilled labor force, productivity, and social wellbeing. The net migration
rate has remained consistent in the country driven by a continuous migration of
population from South Asia in search of better professional and employment
opportunities. The migration rate has only grown higher with the advent of protectionist
policies and crackdown on refugees and illegal immigrants in the US, with a majority of
them finding safer haven in Canada. This migration does influence the education system
and the e-learning market in two major ways:
› Signifies opportunity for language learning in the region with a majority of

immigrants compelled to prune their language skills to remain social and
professionally relevant. English remains the major language learnt with the online
learning mode constituting a minor share of 23.4% in terms of enrollments
› Vocational and corporate training, especially through a structured curriculum

delivered online to train and better equip the workforce for evolving
organizational requirements, is another factor driving the demand for e-learning
material. About 54% of the organizations in the region reported to have scaled up
their employee training expenditure, with more than half of them indicated their
preference for online resources on account of low cost and easy customization.

E-LEARNING MARKET
APAC
E-LEARNING MARKET
19 APAC
Exhibit 65 E-learning Market in APAC 2019–2025
APAC E-LEARNING MARKET ANALYSIS 2019-2025
Key Markets in APAC 2019 PREFFERED PRODUCT SEGMENTS

($ Billion) 2019
11.18
• TRAINING : $37.71 BN/CAGR 18.18%
7.95 • CORPORATE : $15.42 BN/ CAGR 22.43%
6.45
4.78 FASTEST GROWING SEGMENTS
4.12
• LMS : $12.85 BN/ CAGR 27.20%
• INSTRUCTOR-LED : $24.05 BN/ CAGR 20.69%
• TESTING : $11.25 BN/CAGR 22.34%
China South Japan Australia India

Korea
END-USER GROWTH ANALYSIS BY 2025
Segmental Contribution by End-users Major End-user Analysis
K-12 The corporate segment dominates the e-

9.99% learning market in APAC. It is expected
20.43%
11.40% Higher to generate an additional revenue of $36
Education billion by 2025.
Corporate
Vocational learning is also expected
26.70% Government to grow at the rapid rate with a
31.49% CAGR of 18.44% during the forecast
Vocational period.
• The APAC e-learning market largely includes low- and moderately priced course modules due to
the availability of numerous vendors offering free or relatively cheaper models to compete with
international e-learning platforms.
• Although the market is smaller than North America, it is displaying an impressive growth driven by
the increased adoption of e-learning courses in key countries such as India and China.
Source: Arizton

E-LEARNING MARKET
With a population of 4.64 billion, in 2020, the APAC region constitutes about 63% of
the world’s population. With an average population growth of 0.8% YOY and
regional GDP growth of over 5% in 2019, the APAC region stands as a key driver for
the world’s growth engine. The region hosts one of the most robust manufacturing
industries, including automotive, construction, chemicals, defense, and aerospace.
The region’s consumption is on the rise due to the presence of an enormous
population and increased disposable incomes. While developed markets in Europe
and North America are unable to keep pace with the emerging markets in APAC,
these markets are growing both in the consumption size and purchasing power.
Higher disposable incomes mean not only an increased consumption but also imply
a growing preference for differentiated value-added products and services.
Exhibit 66 APAC E-learning Market 2019–2025 ($ billion)
160.0 30%
140.0
25%
120.0
CAGR 100.0
20%
19.20%
80.0 15%
60.0
10%
40.0
5%
20.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 48.96 61.29 75.55 90.06 105.56 122.78 140.48
Growth Rate 8.26% 25.18% 23.28% 19.20% 17.20% 16.32% 14.41%
Source: Arizton
The APAC e-learning market was valued at $48.96 billion in 2019 and is expected to
reach $140.48 billion in 2025, growing at a CAGR of 19.20% during the forecast
period.

E-LEARNING MARKET
The APAC e-learning market is expected to be influenced by the increasing

penetration of smartphones and rapid urbanization, as it increases the probability of
these devices being used to access learning material and educational content by the
users, eventually leading to a higher
potential userbase for vendors to target.
The APAC e-learning market
When smartphones were launched a
largely includes low- and
decade and a half ago, their premium
moderately priced course
pricing made them unaffordable for the
modules due to the availability of
middle-class population. However, with
numerous vendors offering free or
the availability of budget smartphones,
relatively cheaper models to
high disposable income, and increased in compete with international e-
the buying power of the middle-class learning platforms. As the
population, especially in China, South standard of education is still
Korea, and India, the use and daily active below average and parents as
time spent on smartphones has surged in well as corporates are yet to
recent years. This is expected to increase accept digital learning courses to
the addressable market for e-learning as a the full, the region still poses a
practical and on-demand substitute for hinderance to the bottom line of
regular education and classroom large vendors.
teachings. With almost 60% of the world’s
population, the APAC region is the largest
consumer market where the digital age is largely modifying the consumer behavior.
Consumers are paying more for convenience and time while investing in
technological or innovative products. The purchasing behavior of consumers in this
region is also largely influenced by advanced technological developments as well as
the rise of e-commerce.
The APAC e-learning market, although smaller than the market in North America, is
displaying impressive growth driven by some structural changes in key countries
such as India and China. These two countries that figure among the leading five e-
learning markets in the world are characterized by rising disposable incomes and
expanding internet infrastructure. While countries such as Japan, South Korea,
Taiwan, and Singapore have internet penetration rates over 85%, the same in
developing countries such as India and China that hosts one-third of the world’s
population is less than 55%, signifying huge potential in terms of the untapped
market.

E-LEARNING MARKET
Table 30 Role of Government Agencies aiding E-learning in APAC
Minimizing skill gap by offering vocational training
Enabling interactive learning in primary education to minimize dropout rate
Collaborating with the best universities worldwide for access to better curriculum and
mitigate shortage of faculty
Implementing a technology-enabled backbone integrated with MOOCs to enable

cheaper and seamless access to courseware
Liberalizing investment regulations in the education sector
Mandating English language learning, encouraging second and third language learning in
the curriculum, and facilitating options for learning foreign languages easily online
Expanding the reach of distance learning courses by launching high-quality content and robust
certification systems
Source: Arizton
The APAC e-learning market largely includes low and moderately priced course and
modules due to the availability of numerous vendors offering free or relatively
cheaper models to compete with global e-learning platforms. As the standard of
education is still below average and parents and corporates are yet to accept digital
learning courses, the region still poses a hindrance to the bottom line of large
vendors. According to an Arizton study, Japan, South Korea, and Australia are
witnessing higher adoption of e-learning instead of regular learning methods. The
challenge is to attract consumers for paid content and premium subscriptions from
India, Vietnam, Indonesia, and the Philippines, where the market for paid and
premium learning content and platforms is yet to catch a steeply rising curve.
Further, the APAC region hosts more than 1.15 billion smartphone users whose
appetite for mobile data is only growing. The population with increasing disposable
income spends more on consumables, both household and industrial, readily adopts
and prefers value-added products and services that can save time and improve
productivity and is conscious of technology developments and its potential impact
on their lives.

E-LEARNING MARKET
Exhibit 67 Internet & Smartphone Penetration in APAC
92.0% 89.4%
85.7 % 87 .7 %
81 .0% 80.5%
7 2.8%
65.0%
58.1 %
52.3% 50.5%
34.0%
India Vietnam China Malaysia Singapore Australia
Internet Penetration Digital Buyers
Smartphone Penetration
80%
70%
60%
50%
40%
30%
20%
10%
0%
2012 2013 2014 2015 2016 2017 2018
South Korea Australia Japan China Indonesia India
Source: Arizton
The e-learning market in the region can be termed to be in the nascent growth stage
and is underpinned by several factors. The region’s infrastructural expansion is
driven by progressive government policies and massive indigenous consumption
that is only increasing, supported by the demographic trends. This is a key factor that
is attracting FDI into this region as well as the migration and contact with the
developed world. This globalization is warranting the need for the local workforce
to improve their English-speaking skills, and corporates are increasingly investing in
resources to match the evolving demand for skills and capabilities.
APAC is also the largest student and migrant workforce, especially into the
developed economies of the US and Europe. Visa regimes in most of developed
countries mandate specified skill requirements and English language proficiency.
India and China are the major sources of human capital that face the challenge of a
shortage of qualified language instructors to meet the demand of this rapidly

E-LEARNING MARKET
growing target segment. E-learning plays a major role in bridging this skill gap by
delivering quality content to a large audience in a cost-effective manner.
Examination training, especially for GRE, GMAT, TOEFL, and IELTS, is a major
market opportunity in this region with a dearth for testing resources and the presence
of a large learner segment. E-testing is indispensable in this context with the region
emerging to be a major market for pre-examination training. Another major factor
that is driving the adoption of technology-enabled learning in the region is
aggressive government expenditure intended to revamp the conventional education
models.
APAC has been a major manufacturing center for several consumer products;
however, the region is witnessing an increase in the expansion of services and
technology businesses as well. This has led to the establishment and adoption of new
education and training standards in various regions, followed by the implementation
and adoption of new technologies by vendors engaged in learning and education
content creation business.

E-LEARNING MARKET
19.2 DELIVERY MODE

Table 31 APAC Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 12.85 17.26 22.79 29.02 36.25 44.84 54.41 27.20%
Others 7.86 10.00 12.50 15.08 17.84 20.90 24.02 20.46%
Total 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton
19.3 LEARNING MODE

Table 32 APAC Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 24.91 30.79 37.48 44.11 51.03 58.59 66.14 17.68%
Instructor-led 24.05 30.50 38.07 45.95 54.52 64.20 74.33 20.69%
Total 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton
19.4 FUNCTION TYPE

Table 33 APAC Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 37.71 46.83 57.25 67.67 78.63 90.64 102.77 18.18%
Testing 11.25 14.46 18.30 22.39 26.93 32.14 37.71 22.34%
Total 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton

E-LEARNING MARKET
19.5 END-USERS
Table 34 APAC Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 10.00 12.54 15.48 18.46 21.64 25.17 28.77 19.25%
Corporate 15.42 19.84 25.14 30.79 37.05 44.23 51.92 22.43%
Government 5.58 6.74 8.02 9.23 10.43 11.69 12.88 14.96%
Vocational 4.89 6.09 7.47 8.84 10.30 11.89 13.50 18.44%
Total 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton

E-LEARNING MARKET
19.6 KEY COUNTRIES
Exhibit 68 Incremental Growth in APAC 2019 & 2025
CHINA $11.18 BN $39.30 BN 23.32%
SOUTH KOREA $7.95 BN $23.27 BN 19.61%
JAPAN $6.45 BN $18.02 BN 18.68%
AUSTRALIA $4.78 BN $12.60 BN 17.55%
INDIA $4.12 BN $16.66 BN 26.23%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
187%
$28 BN
$15 BN
Y
$13 BN
X
INDIA SOUTH CHINA

2019 2025 KOREA

E-LEARNING MARKET
19.6.1 China: Market Size & Forecast
China was the third largest e-learning market in the world after the US and Canada,
with a revenue contribution of $11.18 billion in 2019. The country stood out with the
largest mobile user base of 1.6 billion and internet penetration of 61.2% in 2019,
displaying remarkable growth over the past decade. With more than 600 million
smartphone users, the region is also a prolific user of mobile data. E-learning is
prevalent in the region, and its adoption is primarily driven by the following factors:
› Private investments in the online learning segment topped $1.22 billion in 2015 and 2016,
driven by the venture and corporate interests in the sector. DCM, Matrix, and IDG are the
major venture funds with a focus on edu-tech, while corporates such as Baidu,
Qualcomm, and NetEase remain bullish on this sector. K-12 and higher education are the
areas of focus for these private investments, constituting an investment share over 55%
in 2016.
› Large-scale content digitization and technology-equipped resources are driving primary

and secondary teaching. The Ministry of Education issued the Education Information
Technology Development Ten-Year Plan (2011–2020) in 2012 that envisages constituting
a learning-based social system supported by IT.
› Platforms implemented broadband coverage for all schools and colleges to establish a
modern technology-enabled study system. For instance, the launch of CERSP.com, a
national education portal and the primary distribution point for modern digital
curriculum as envisaged by Development Center of the Ministry of Education. This
program seeks to ensure that all students will have access to individualized internet-
based learning services, irrespective of their location, by ensuring that schools in rural
areas have high-speed broadband access and adequate computers and tutors.
› The MOOC platform of Chinese universities was launched in collaboration with more
than 20 universities and offered several online courses for higher education. E-learning
applications were co-developed by NetEase and launched in 2014.
› Academic content digitization is another initiative by the government, where it seeks to

digitize the entire K-12 content online before 2020. Urban schools already have access to
thousands of online textbooks, courseware, and reference ware, with the government
now working toward providing adequate access channels to students.
› Teacher and instructor training is another area of focus with the Ministry of Education in
China operating a portal for teachers called the National Network Training Platform for
University Teachers.

E-LEARNING MARKET
Exhibit 69 E-learning Market in China 2019–2025 ($ billion)
45.0 35%
40.0
30%
35.0
25%
CAGR 30.0
23.32% 25.0 20%
20.0 15%
15.0
10%
10.0
5%
5.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 11.18 14.52 18.55 22.89 27.74 33.31 39.30
Growth Rate 29.92% 27.78% 23.39% 21.16% 20.09% 17.98%
Source: Arizton
The e-learning market in China was valued at $11.18 billion in 2019 and is expected
Language learning is another great market opportunity in China, with the country
accounting for more than 300 million English language learners, a majority of which
are still rely on the off-line modes of instruction. The English language learning
market (both online and offline) in China was estimated at $10 billion in 2019 and is
poised to undergo rapid growth on account of an increased emphasis by the Chinese
government to rein in English learning into the school curriculum. The same is
supplemented by the rise in the number of privately-run language training institutes
and schools across the country. Since 2001, English learning has been mandated in
the Chinese school curriculum from the age of 8–9 itself, with the government
understanding the need for an effective medium of communication with global
partners.
China is also the leading source country for international students, followed by India.
In 2018, about 33.2% of these students travel to the US, followed by Australia and
Europe, wherein English proficiency is mandated both for vocational and
educational purposes. China ranks below its Asian peers such as India, Singapore,
and Japan when it comes to the English proficiency ranking. Realizing the
importance of English language skills to interact and communicate with global
counterparts, individuals are increasingly evincing interest in English language

E-LEARNING MARKET
learning tools and platforms. One of the major reasons for the adoption of e-learning
platforms for language learning in China is the shortage of qualified instructors. By
mandate, language instructors are required to hold a recognized proficiency degree
with at least two years of hands-on experience. However, the same is overlooked on
account of demand exceeding the supply of instructors in the country. E-learning
platforms are poised to cater to this shortage of instructors, filling-in the much-
needed demand for qualified instructors.
These platforms not only enable English learning at competitive prices than the
traditional mode but also are soon turning out to be the preferred ones on account of
the increased inclination of users for blended learning. A typical six to eight-hour
cloud-based course costs $40–50 and the course period often range from 50–60 hours
for an intermediate learner of the language.
Other government initiatives that are driving the e-learning market in the country
include the launch of technology centers in cities that offer open access to the internet
with an emphasis on children resources. The launch of large-scale connectivity plans
is not only limited to schools and colleges in the country. However, an estimated 96%
of the provincial and central governing bodies are well connected with websites of
their own for offering various information and application services online.

E-LEARNING MARKET
19.6.2 South Korea: Market Size & Forecast
Innovations in the consumer and industrial sector demand the influx of skilled and
knowledgeable workforce, thereby promoting e-learning solutions in the country in
academic and corporate sectors.
As most South Korean couples are dual earners, there is high affordability for smart
devices and premium subscriptions for digital learning platforms in the K-12 and
higher education segments. In comparison to other regions, there would be a higher
adoption rate for these services among consumers that enthusiastically adopt the
latest and innovative technologies.
Exhibit 70 E-learning Market in South Korea 2019–2025 ($ billion)
25.0 30%
25%
20.0
CAGR 20%
15.0
19.61%
15%
10.0
10%
5.0
5%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 7.95 10.01 12.41 14.85 17.46 20.33 23.27
Growth Rate 26.01% 23.94% 19.68% 17.52% 16.48% 14.43%
Source: Arizton
The e-learning market in South Korea was valued at $7.95 billion in 2019 and is
South Korea has historically always been at the forefront of technological innovations
and involvement in government and corporate sectors. The country has one of the
highest internet speeds worldwide. Also, both urban and rural areas have access to
high-speed internet in the country. The presence of high-speed internet, high
disposable incomes, and a tech-savvy population have driven the e-learning market
in the country.
With the busy and hectic lifestyle, coupled with growing technology and EdTech
industries in the country, it is almost paramount that the education industry and

E-LEARNING MARKET
education policies skew toward innovative online mediums. South Korea is among
the leading countries globally in terms of new enrollments as well as renewals for e-
learning solutions. In the higher education segment, the number of students opting
for e-learning is almost at par with the number of students opting for regular
education in pursuit of higher education degrees.
South Korea is also using e-learning platforms and content to transform its education
industry. The focus of education policies regarding e-learning is targeted to make
formal and competitive education flexible, thereby allowing users to study and
pursue certifications that they deem important.

E-LEARNING MARKET
19.6.3 Japan: Market Size & Forecast
Japan, with a population of 126 million, constitutes a unique consumer market in the
world. The country is the third largest economy in the world by nominal GDP and
the second largest developed economy in the world. However, Japan is characterized
by a demographic crisis wherein there has been a constant shrinking in its
population. With an increase in the aging population, labor productivity has been on
the downside. The population has shrunk by over one million in the past five years,
and it is expected to contract to 83 million by 2100. These macro and microeconomic
factors propel major conglomerates in the region to rely upon markets beyond Japan
for growth. Driven by trade liberalization in several growth economies in Asia,
Africa, and the Middle East, there comes an imperative need for corporates in the
country to effectively train their resources for global assignments.
Exhibit 71 E-learning Market in Japan 2019–2025 ($ billion)
20.0 30%
18.0
25%
16.0
14.0
CAGR 20%
12.0
18.68%
10.0 15%
8.0
10%
6.0
4.0
5%
2.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 6.45 8.07 9.92 11.78 13.74 15.88 18.02
Growth Rate 25.03% 22.98% 18.76% 16.61% 15.58% 13.54%
Source: Arizton
The e-learning market in Japan was valued at $6.45 billion in 2019 and is expected to
reach $18.02 billion in 2025, growing at a CAGR of 18.68%.
Poor English-speaking abilities among the workforce render them ineffective for
deployment or interaction with overseas partners. The challenge is only aggravated
by several multinationals in the country mandating English use, driving the
workforce to seriously evaluate learning the English language. Japan ranks dismally
among developed countries in TOEFL iBT and TOEIC English proficiency tests with

E-LEARNING MARKET
mean scores of 71 and 513, respectively. The foreign language learning market was
valued at $3.12 billion in 2018, with online learning and training modes constituting
$516 million. Further, only 14% of the white collared workforce are able to
communicate effectively in English. As a result, there has been a growing emphasis
of businesses for the adoption of self-paced language learning tools and courseware
complimented by instructor-led modes. The e-learning mode has gained prominence
on account of a high prevalence of multiple gadgets and preference of individuals for
self-paced learning.
Other major drivers and characteristics of the e-learning market in Japan are as
follows:
› Corporate training programs implemented to better train and equip their resources,
especially in the realms of soft skills and functional skills. LMS remains a preferred mode
for the implementation of corporate e-learning programs, followed by proficiency testing
assignments. The demand for LMS systems among corporates is predicted to grow at a
high rate during the forecast period.
› With an estimated internet penetration of 93.53% and growing smartphone penetration

in 2018, the country lags, especially in terms of computer ownership in the higher
education segment. The penetration of smartphones rose by almost 8% in 2018. Similarly,
the exposure of the K-12 segment to the computer-based learning method is limited on
account of the emphasis of traditional modes of learning that involves personal
interaction. However, the same is changing with schools and colleges aggressively
adopting highly interactive e-learning systems to improve the engagement rate and
effectiveness of teaching.

E-LEARNING MARKET
19.6.4 Australia: Market Size & Forecast
Till 2018, the economy of Australia had been steady when the economic growth
reduced to 1.8% compared to 2.4% in 2017, which was the lowest since 2009.
However, the accelerated spending in the infrastructure and services sectors is most
likely to salvage the economy in coming years.
In the field of education, Australia has maintained a demarcation between online

education and e-learning. Online education refers to the process of making paper-
based and standard books available on the internet for students; whereas e-learning
is a process and business of converting paper-based content to learner-led internet or
online resources.
Exhibit 72 E-learning Market in Australia 2019–2025 ($ billion)
14.0 30%
12.0
25%
10.0
CAGR 20%
17.55% 8.0
15%
6.0
10%
4.0
5%
2.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 4.78 5.92 7.21 8.48 9.79 11.21 12.60
Growth Rate 23.84% 21.81% 17.62% 15.50% 14.48% 12.46%
Source: Arizton
The e-learning market in Australia was valued at $4.78 billion in 2019 and is expected
The growth of the Australian e-learning market is driven by the rising demand from
students for digital courses and instructor-led material for competitive exams,
technological innovations regarding the development and accessibility of learning
material, and competition among institutions.
The country has been a hub for international students for education; the e-learning
market has high growth potential due to the increasing demand from international
students as well as from government and corporates, especially in the services sector.

E-LEARNING MARKET
Considering the growth potential of the country, vendors must incorporate the
following strategic points:
Exhibit 73 Strategic Points for Vendors in Australia Market
Delivering personalized and engaging e-learning content and platforms that

combine student pedagogy and centricity
Rethinking and redefining the relationship between physical institutions and

online learning through development of interactive and flexible blended learning
models
Integrating technology to effectively analyze and measure student results and

increase learning outcomes
Source: Arizton

E-LEARNING MARKET
19.6.5 India: Market Size & Forecast
The education market in India, which was valued at more than $101 billion in 2019,
is the strongest market for education technology players. The country’s market is also
cited to be the next largest market after the US with some unique characteristics that
signify high growth prospects:
› The country is blessed with a favorable demographic dividend with half of the population
in the working age of 25–60 years. While this means a great economic opportunity for the
country to leverage in this era of the aging population in most developed countries, most
of this workforce is not equipped with proper skills on account of capacity constraints in
vocational training.
› An estimated 325 million come under the age bracket of 6–16, wherein this segment is
introduced to formal education from the age of five. Access to free and compulsory
education is guaranteed to all children in the age group of 6–14 years as a fundamental
right through the Right to Education (RTE8) Act. However, the primary education system
is plagued by several challenges including premature dropouts, gender imbalance,
inadequately qualified tutors, and lack of updated academic content
› The higher education sector in the country is governed by the University Grants
Commission, with the country having more than 750 universities and more than 35,000
colleges. Distance education stands as a key contributor with a share of 30% to the total
higher education enrolments. Major challenges plaguing this segment are the lack of
high-quality content, loosely governed regulations, and a major disparity with modern
pedagogy and global developments. Further, there is an additional two million qualified
faculty needed to train more than 25 million students, for which additional higher
education capacity is to be created.
› The internet penetration in the region was estimated at 40.9% in 2019, translating into 485
million internet users. However, the same is highly concentrated, with metros and tier-1
cities having the highest digital penetration. Smartphone penetration in the country
stands at 30% with the same on a rapid rise driven by the launch of feature-rich
smartphones at low price points (< $100). An estimated 60% of the data traffic is being
driven by smartphones and device migration from feature phones to smartphones during
the forecast period is set to revolutionize how various businesses reach to this aspiring
consumer segment.

E-LEARNING MARKET
Exhibit 74 E-learning Market in India 2019–2025 ($ billion)
18.0 35%
16.0
30%
14.0
25%
CAGR 12.0
26.23% 10.0 20%
8.0 15%
6.0
10%
4.0
5%
2.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 4.12 5.48 7.17 9.05 11.23 13.80 16.66
Growth Rate 32.99% 30.80% 26.31% 24.03% 22.93% 20.76%
Source: Arizton
The e-learning market in India was valued at $4.12 billion in 2019 and is expected to
All the above factors signify a high potential market for e-learning, especially in
several domains where the conventional education system in the country has failed
to accomplish the sought objectives. Some of the avenues where e-learning is
increasingly gaining a foothold in terms of reach and effectiveness are as follows:
› Primary education in the country that is plagued by a high dropout rate can be revamped
by the adoption of tech-enabled learning with interactive tools to engage students.
Further, the quality of the content can be ramped through centralized collaboration
› Higher education, especially at the university level, is a key target segment for e-learning
with the country’s premier institutions, including IITs and IIMs, still lagging behind their
global peers in terms of the quality of curriculum and educational infrastructure. For
instance, only three of Indian universities figured among the top 200 universities and
fourteen among the top 400 in QS university rankings 2020. Another major reason is the
lack of adequate and qualified faculty. Universities in the country, however, are bridging
this gap by investing in e-learning resources and infrastructure, wherein collaboration
with global peers is enabling the reach of quality education in an affordable manner. This
segment is the largest user of LMS, with the demand for the same growing at an
impressive 14.8% YOY.

E-LEARNING MARKET
› Self-paced learning continues to dominate the e-learning market with a share of 85% in
terms of revenue in 2018. MOOCs continue to dominate the learning landscape with an
impressive CAGR of 12.90% over the past five years.
› Private investments in the education sector exceeded $550 million in 2016, with the
country’s education market being a hotbed for foreign investments that are vying to enter
this majorly untapped market. Further, an aggressive spend by the federal and state
governments to improve the quality of the curriculum is also set to facilitate the launch
of technology-driven solutions in higher education and vocational training segments.
Table 35 End-user Segment in India Overview 2018
End-user Scope of Learning/Tutoring Major Players
Online Tutoring Edutor
Tests and Assessments IProf
K-12 Smartclasses EduWizards
Simulations Penta T-pad
Virtual Reality Vedantu
Cloud Computing SimpliLearn
Salesforce NIIT
Digital Marketing Edureka

Professional/Vocatio
nal Education Web and Application Development
Cisco
Training
Big Data
Language Learning
Various corporate programs designed

Technical Pedagogy for internal skill development and
collaboration
Corporate Training
Management Training
HR Management
Foreign Language Training TOEFL
Language Training Professional Entrance Exams IELTS
Cambridge Proficiency tests
Source: Arizton

E-LEARNING MARKET
EUROPE
E-LEARNING MARKET
20 EUROPE
Exhibit 75 E-learning Market in Europe 2019–2025
EUROPE E-LEARNING MARKET ANALYSIS 2019
Key Markets of Europe by Revenue (2019) PREFERED PRODUCT SEGMNENTS

22% UK • TRAINING : $19.86 BN/CAGR 8.72%
24% • CORPORATE : $9.44 BN/ CAGR 12.56%
Germany
France
FASTEST GROWING SEGMENTS
10% Nordics
19% Spain • LMS : $8.31 BN/ CAGR 10.11%
• TESTING : $8.28 BN/CAGR 12.37%
11% Others
14%
END USER ANALYSIS 2019
E-Learning Market by End-users ($ billion) Major End-user Analysis
9.44 Corporate learning is likely to add a majority of

the revenue during the forecast period. It is
expected to generate an additional revenue of
6.07
5.54 $9.76 billion by 2025.
3.88
3.22 Corporate learning is expected to witness
the fastest growth at a CAGR of 12.56%
Corporate Higher K-12 Government Vocational
Education
• Consumers in government and corporate segments are showing an interest in the adoption of paid
e-learning subscriptions in Europe.
• The UK market is the leading e-learning market as it has been an early adopter of e-learning with
wide prevalence of tech-enabled avenues across and innovative teaching and learning methods that
fundamentally challenge the conventional methods of instruction.
• The growth prospect of the e-learning market in Germany highly depends on the adoption of e-
learning in the government and corporate segments.
Source: Arizton

E-LEARNING MARKET
Europe is a value-oriented education market, and consumers explore different ways

to manipulate their budget but not compromise on the quality of learning.
Consumers usually check out different platforms and learning values on traditional
as well as online platforms. The effects of Brexit are visible throughout Europe and
the UK. Although consumers in Central Europe are stringent about their finances,
they are not ready to trade-off their lifestyle with cheaper alternatives, which is
precipitating into higher demand for e-learning courses, although free, in Central and
Eastern Europe. Moreover, customers in Eastern Europe prefer to invest in
indigenous and aboriginal products.
Foundations of e-learning in Europe are built well in the education system design
itself. According to Article 165 constituted in the Treaty on the Functioning of the
European Union, the member states will contribute to the development of quality
education by promoting the mobility of citizens, collaborating in joint study
programs, facilitating information exchange, or teaching languages of the EU.
Further, the treaty also involves a commitment to promote life-long learning for all
EU citizens.
Exhibit 76 Europe E-learning Market 2019–2025 ($ billion)
60.0 20%
18%
50.0
16%
14%
CAGR 40.0
12%
9.86%
30.0 10%
8%
20.0
6%
4%
10.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 28.14 32.98 37.54 39.91 42.67 45.77 49.47
Growth Rate 7.79% 17.19% 13.82% 6.33% 6.92% 7.26% 8.07%
Source: Arizton

E-LEARNING MARKET
The e-learning market in Europe was valued at $28.14 billion in 2019 and is expected
to reach $49.47 billion in 2025, growing at a CAGR of 9.86% during the forecast
period.
Europe has been at the forefront of several innovations in education, consumer goods
manufacturing, and artificial intelligence, including internet infrastructure.
Consumers in Europe, mainly the government and corporate segments, are showing
an interest in the adoption of paid e-learning subscriptions. They are also actively
engaging in training as well as testing functions to improve the overall productivity
of employees. The trend to invest in e-learning subscriptions as well as in online
courses or digital universities creates opportunities for higher revenues for e-learning
vendors.
Studying a foreign language for at least a year is made mandatory in more than 20
European countries. Ireland and Scotland are two exceptions, which do not have
mandatory language requirements. However, Scottish schools are still obligated to
offer at least one foreign language option to all students in the age group of 10–18;
Irish students learn both English and Gaelic (neither is considered a foreign
language); English is the most-studied foreign language in almost all European
countries and at all education levels.
Although some countries made learning English as a foreign language mandatory,

the percentage of pupils studying it remains high across the region, even in countries
that do not have this rule. The next most popular languages in most countries were
French and German. Spanish and Russian are gaining popularity and widely taught
as foreign languages in certain regions of the continent. The percentage of students
learning other languages than those mentioned above is below 5% in most countries.
An estimated 60% of learners have reported having explored or using the online
channel for language learning, and 32% of them have reported having attempted an
online language proficiency test at least once.
The EU strategically funds educational, vocational, and skill-building programs that

encourage EU citizens to take advantage of professional opportunities across the
region. Conscious of the importance of education and continuous training, the EU
states have launched structured initiatives to achieve specific goals in the field of
education. Some key initiatives that play a decisive role in shaping the EU’s
education system are as follows:

E-LEARNING MARKET
20.1.2 Education & Training 2020 Program (ET 2020)
The ET2020 is a framework for cooperation in education and training among member
states that facilitate the exchange of best practices, mutual learning, gathering and
information dissemination and sharing of evidence, advice, and support on policy
reforms. It involves working groups of experts nominated by member countries and
several other key stakeholders to work upon common EU-level policy guidance.
The ET2020 has set four common EU objectives to address challenges in the training
and education system:
› Ensuring lifelong learning and mobility
› Improving the quality and efficiency of education and training
› Promoting equity, social cohesion, and active citizenship
› Enhancing creativity and innovation, including entrepreneurship, at all levels of

education and training
The following are some of the benchmarks set for education systems under the
program by 2020:
› At least 95% of children (from 4 to compulsory school age) should participate in early
childhood education
› Fewer than 15% of 15-year-olds should be under-skilled in reading, mathematics, and

science
› The rate of early leavers from education and training aged 18–24 should be below 10%
› At least 40% of people aged 30–34 should have completed some form of higher education
› At least 15% of adults should participate in lifelong learning
› At least 20% of higher education graduates and 6% of 18–34-year-old with an initial

vocational qualification should have spent some time studying or training abroad
In the achievement of the above, it is imperative for the member countries to leverage
technology, especially for ensuring continuous learning, improving engagement at
the primary levels, catering to the continuously evolving pedagogic needs of
students, and bridging skill gaps for employability.

E-LEARNING MARKET
20.1.3 Erasmus Program
Established in 1987, the Erasmus+ Program is a European funding program

established to offer university students a possibility of studying or doing an
internship abroad in another member country for a period of at least two months and
maximum 12 months per study cycle. With the program also offering the flexibility
of studying abroad, it is aimed at cross-border cooperation between states to aid the
growth of international study. With thousands of students enrolled, it offers an
excellent chance to gain academic experience abroad. The program indirectly enables
cross-cultural study and drives language learning among the student community.
Short-term language learning courses are in much demand for the outgoing student
community as part of the program.
20.1.4 Bologna Program
It is an inter-governmental project that aims to develop Europe as a higher education

area by harmonizing academic certifications and standards as well as establishing
academic quality assurance standards throughout the EU and other European
countries. This harmonization warrants the digitization of curriculum and
certifications for ready reference and is not only propelling the rise of standardized
courseware for easy translation and sharing in various languages but also is enabling
easy testing and online evaluation services.
E-learning in the region is driven by the higher education segment, followed by

language learning among corporate and vocational users. The flow of students
among member countries for short-term courses and internships is spurring
subscriptions to online language learning. Universities are among the largest
subscribers and adopters of e-learning material through extensive libraries of
courseware accessible among member institutions. Europe finds itself in a unique
position when it comes to learning foreign languages. The ambitious EU objective of
mother tongue +2, i.e., commitment to multilingualism within the EU aims to achieve
in what every EU citizen will be able to speak at least two foreign languages other
than the mother tongue.

E-LEARNING MARKET
20.2 DELIVERY MODE

Table 36 Europe Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 8.31 9.76 11.14 11.87 12.72 13.68 14.81 10.11%
Others 5.76 6.82 7.84 8.42 9.09 9.85 10.75 10.97%
Total 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton
20.3 LEARNING MODE

Table 37 Europe Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 19.15 22.64 25.99 27.87 30.05 32.50 35.40 10.79%
Instructor-led 9.00 10.34 11.55 12.04 12.62 13.28 14.06 7.73%
Total 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton
20.4 FUNCTION TYPE

Table 38 Europe Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 19.86 23.05 25.97 27.33 28.91 30.68 32.79 8.72%
Testing 8.28 9.93 11.57 12.58 13.76 15.09 16.68 12.37%
Total 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton

E-LEARNING MARKET
20.5 END-USERS
Table 39 Europe Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 5.54 6.44 7.27 7.65 8.11 8.61 9.21 8.84%
Corporate 9.44 11.34 13.24 14.42 15.80 17.35 19.20 12.56%
Government 3.88 4.45 4.96 5.16 5.40 5.67 5.99 7.52%
Vocational 3.22 3.76 4.26 4.51 4.80 5.12 5.51 9.38%
Total 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton

E-LEARNING MARKET
20.6 KEY COUNTRIES
Exhibit 77 Incremental Growth in Europe 2019 & 2025
UK $6.22 BN $9.58 BN 7.44%
GERMANY $5.38 BN $8.93 BN 8.82%
FRANCE $4.02 BN $7.21 BN 10.22%
NORDICS $3.06 BN $5.79 BN 11.19%
SPAIN $2.71 BN $5.45 BN 12.38%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
76%
$3.6 BN
$3.4 BN
Y
$3.2 BN
X
FRANCE UK GERMANY
2019 2025

E-LEARNING MARKET
20.6.1 UK: Market Size & Forecast
The UK was an early adopter of e-learning with a wide prevalence of tech-enabled

avenues for several end-users. The market was once a pioneer of e-learning with the
launch of innovative teaching and learning methods that fundamentally challenged
the conventional methods of instruction. The conventional education system was
perceived to be expensive in the country, especially for skill development and
language learning. Moreover, there was also a dearth of qualified instructors. Since
2005, a rise in innovative platforms that not only facilitated MOOCs but also bespoke
solutions to cater to individual learning needs has helped the online learning market
grow. Since 2000, some prominent citable players have been offering innovative
learning solutions for corporate and education end-users, including Walkgrove,
GLAD Solutions, aNewSpring, Commelius, Brightwave, Oilennium, and Virtual
College.
Exhibit 78 E-learning Market in UK 2019–2025 ($ billion)
12.0 16%
14%
10.0
12%
CAGR 8.0
10%
7.44%
6.0 8%
6%
4.0
4%
2.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 6.22 7.14 7.95 8.27 8.64 9.06 9.58
Growth Rate 14.67% 11.35% 4.00% 4.55% 4.87% 5.64%
Source: Arizton
The e-learning market in UK was valued at $6.22 billion in 2019 and is expected to
An analysis of the e-learning market in the country reveals the following:
› With an internet penetration of 93% and smartphone penetration in excess of 82.9% in

2019, the UK is one of the well-connected markets in the world. Not only are the audience
here prolific users of data, but a good telecom and internet infrastructure makes live

E-LEARNING MARKET
streaming and instructor-led learning modes easier and feasible in most of the higher
education courses.
› The UK is the key destination for EU students and professionals with EU countries
constituting more than 50% of the immigrant influx. The country has one of the best
standards for English proficiency with online English language learning majorly pursued
by the immigrant population whose first language is usually German, French, Spanish,
Italian, and Dutch.
› Corporate learning is another potential market in the country. A majority of them focused
on enabling collaboration and knowledge transfer between remote teams, functional skill
enhancement and cross-domain knowledge sharing, and training for entry-level
employees and newcomers.

E-LEARNING MARKET
20.6.2 Germany: Market Size & Forecast
Germany is the second largest market for e-learning in Europe, with a share of 19%
in 2019. The growth prospects of the e-learning market in Germany highly depends
on the adoption of e-learning in the government and corporate segments. Strong
business growth, declining unemployment, increasing wages, and the growth of
income have resulted in steady economic growth in recent years.
Exhibit 79 E-learning Market in Germany 2019–2025 ($ billion)
10.0 18%
9.0 16%
8.0 14%
7.0
CAGR 12%
6.0
8.82% 10%
5.0
8%
4.0
6%
3.0
2.0 4%
1.0 2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 5.38 6.25 7.05 7.42 7.86 8.35 8.93
Growth Rate 16.15% 12.78% 5.34% 5.89% 6.22% 6.99%
Source: Arizton
The e-learning market in Germany was valued at $5.38 billion in 2019 and is expected
The number of households in Germany stood at over 41.4 million in 2019 following
a gradual and steady increase since 2010. The increase in the number of households
and the number of new dwellings required to accommodate the spurt in migrants
into the country are stimulating the demand for new educational structure at a faster
pace. The government estimates that over 3.6 million migrants will arrive in
Germany by 2020, requiring at least 350,000 new houses annually, adding growth
prospects to the academics and vocational segments of e-learning. Furthermore, the
increase in the mean annual equivalized net income is also a growth driver for the
paid subscriptions of the online course and education platforms.
The economic growth in Germany continues to be on par with the overall economic
growth in Europe. The strong fiscal position of the country is resulting in high public

E-LEARNING MARKET
spending on ICT infrastructure as well as public welfare programs that are aimed at
enhancing the internet access and speed for all citizens. The German government
invested over $37 billion in public infrastructure development in 2017, and the
corporate sector in Germany witnessed solid growth in 2019 and the coming years.
The growth in the corporate sector, rise in disposable income, and high government
spending on public infrastructure are expected to drive the demand for e-learning as
a preferred mode of selective and practical education in both individual consumers
as well as corporate and government segments.

E-LEARNING MARKET
20.6.3 France: Market Size & Forecast
France represented the third largest economy in Europe with about 99% literacy and
over 91% of internet penetration in 2018. The country is the second largest trading
country in Europe after Germany, exporting aircraft, automobiles, and several
sophisticated spares and accessories. The country is also a major tourist center and is
the most visited destination in Europe.
The French language is spoken by over 80 million speakers as a first language and
200 million as a second language, making it the second-most spoken second language
after English. The country’s education system is highly centralized and structured
with most of the common degrees recognized by the Bologna process - License and
License Professionnelle, Master, and Doctorat degrees. A quarter of the country’s
population are pupils and students, thus constituting a vibrant and dynamic primary
and secondary education markets in Europe.
Exhibit 80 E-learning Market in France 2019–2025 ($ billion)
8.0 20%
18%
7.0
16%
6.0
14%
CAGR 5.0
12%
10.22%
4.0 10%
8%
3.0
6%
2.0
4%
1.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 4.02 4.73 5.40 5.76 6.18 6.65 7.21
Growth Rate 17.64% 14.23% 6.69% 7.26% 7.58% 8.37%
Source: Arizton
The e-learning market in France was valued at $4.02 billion in 2019 and is expected
The regulatory framework in the country is well designed to drive the training spend
by individuals and corporates, with corporates enjoying tax rebates for a structured
training spend on employees. Despite the same, the adoption of e-learning in the
country lags behind the UK and the US because there is a high inclination toward

E-LEARNING MARKET
personalized and instructor-led training. E-learning was once perceived to be an

avenue of only providing reference ware and proficiency tests. However, this
perception gradually has undergone a change with the following developments over
the past five years:
› E-learning can well facilitate instructor-led learning and collaboration with a high degree
of engagement in an easy and simple manner.
› The total cost of training and testing for most of the courses is lower in e-learning than
pure offline modes or hybrid modes.
› MOOCs and several learning platforms facilitate access to a wide repository of content
and reference ware on more than 80 subjects, which otherwise was not accessible offline.
Some key trends and drivers that characterize the e-learning market in France are as
follows:
› There has been an increasing preference for mobile-based solutions with interest in
application-based serious games and learning platforms. With a majority of data
channeled through mobile, existing LMS providers are optimizing their applications to
offer a better experience on mobiles through gamification.
› 3-D simulation games and VR are making inroads into the market, especially targeted to
primary and secondary education segments.
› There has been a growing diversity in the content hosted online through MOOCs and
open courseware, ranging from academics to management, health, safety, and language
training.
› An increased preference for French tutors for better language training abroad is
propelling the rise of video capturing and sharing modules that are highly customized to
suit the learning requirements of a diverse user base.
› There has been a growing trend of subscription-based billing, driven by corporate spend
on facilitating dynamic learning requirements of its key workforce.

E-LEARNING MARKET
20.6.4 Nordics: Market Size & Forecast
The Nordic region includes five European countries - Denmark, Finland, Norway,
Sweden, and Iceland as well as their associated territories. The Nordic countries have
been ranked high in terms of quality and standard of living. Also, as a region, the
Nordic countries lead the EU average in terms of economic development.
The increase in per capita disposable income in the country has improved end-user
optimism of the economic outlook and has led to a more confident private
consumption. For instance, according to the OECD, the per capita household
disposable income is rising by an average of 3% in the Nordics region.
Exhibit 81 E-learning Market in Nordics 2019–2025 ($ billion)
7.0 20%
18%
6.0
16%
5.0 14%
CAGR
12%
11.19% 4.0
10%
3.0
8%
2.0 6%
4%
1.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 3.06 3.64 4.19 4.51 4.88 5.30 5.79
Growth Rate 18.68% 15.24% 7.64% 8.21% 8.54% 9.33%
Source: Arizton
The e-learning market in Nordics was valued at $3.06 billion in 2019 and is expected
The academic and corporate segments are the largest end-users of e-learning
solutions in Nordic countries. The growth in the corporate segment is underpinned
by the oil & gas industry and several existing and emerging companies in the
technology field. The petroleum industry is one of the largest industries in Norway
and accounts for close to 20% of the country’s GDP. The market landscape for e-
learning in Nordic countries is underpinned by an increase in the rising education
scenario as well as multinational ed-tech start-up companies. Also, Nordics have
climbed up the ladder in technology and innovation and are witnessing

E-LEARNING MARKET
advancements in education and technological innovations among European

countries as well as other parts of the world.
Nordics are also becoming a leader in the development and implementation of game-
based learning materials and micro courses for the K-12 segment. Some emerging ed-
tech vendors in Nordics focusing on academics and major are given below.
Exhibit 82 Emerging Ed-tech Vendors in Nordics (Academic & K-12)
Citationsy
(Sweden)
Fun
Lexplore
Academy
(Sweden)
(Finland)
Gruply
3D Bear BookBites
(Finland) (Denmark)
Peergrade
(Denmark)
Source: Arizton

E-LEARNING MARKET
20.6.5 Spain: Market Size & Forecast
Spain represents a unique market for e-learning with high potential in terms of
adoption and proliferation of learning methods. The country with an internet
penetration rate of 92.5% and smartphone penetration rate of 80% in 2019 holds high
potential in terms of web and mobile data traffic. E-learning in the country is
currently facilitated by the deployment in federally funded education systems and
vocational learning systems. Education is compulsory and free for all children aged
6–16 years and is supported by the federal government, the country's autonomous
communities.
Exhibit 83 E-learning Market in Spain 2019–2025 ($ billion)
6.0 25%
5.0
20%
CAGR 4.0
15%
12.38%
3.0
10%
2.0
5%
1.0
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 2.71 3.25 3.78 4.11 4.50 4.93 5.45
Growth Rate 19.94% 16.46% 8.78% 9.36% 9.69% 10.49%
Source: Arizton
The e-learning market in Spain was valued at $2.71 billion in 2019 and is expected to
E-learning in the country’s education system is primarily driven by multi-skill

development in Spanish Bachillerato and the increased use of interactive learning
modes in the first and second cycles of secondary education. English reference ware,
especially pertaining to a specialist part of Spanish Bachillerato, is in great demand.
The demand for English language learning modules from corporates, testing
services, instructor-led Spanish courseware, and MOOCs in English with functional
content are other major drivers for the market in the country. State schools and
private-run schools funded by the state constitute 60% of the demand for courseware

E-LEARNING MARKET
in the academic segment. Spain also hosts more than 200 ISC-recognized
international schools and several renowned universities that deliver international
education, with about one-third of them delivering the same in the Spanish language.

E-LEARNING MARKET
LATIN AMERICA
E-LEARNING MARKET
21 LATIN AMERICA
Exhibit 84 E-learning Market in Latin America 2019–2025
LATIN AMERICA E-LEARNING MARKET ANALYSIS 2019–2025
Key Markets in Latin America 2019 PREFERRED PRODUCT SEGMENTS 2019

($ billion)
1.37 • PACKAGED CONTENT: $3.06 BN/ CAGR 9.42%

• CORPORATE : $1.62 BN/ CAGR 12.52%
0.88
0.47 • LMS : $1.66 BN/ CAGR 10.44%

• SELF PACED : $2.48 BN/ CAGR 11.53%
• TESTING : $1.15 BN/CAGR 11.47%
Brazil Mexico Argentina Chile
END-USER ANALYSIS BY 2025
Segmental Contribution by End-users Major End-user Analysis
The higher education segment dominated the

5%
e-learning market in Latin America in 2019.
14% 24% However, the corporate learning segment is
K-12
expected to surpass the market share by 2025.
Higher Education
Corporate
Government
28% Vocational
The corporate e-learning segment is
29% expected to witness the fastest
growth at a CAGR of 12.52% during
the period 2019–2025.
• The growing penetration of smartphone users, coupled with the increasing internet penetration, is
driving the demand for e-learning courses in Brazil.
• Since 2007, the Brazilian Education Ministry has invested in “PROINFO,” a program that promotes
IT as an important teaching tool.
• The growing internet penetration, increasing urbanization, rising investments in the educational
sector, and growing smart users are driving the growth of the e-learning market in Argentina.
Argentina has the highest internet penetration rate of 93.1% in Latin America.
• According to the Chamber of Commerce of Santiago, 33% of Chilean companies impart training for
their workers through the internet, and it is considered that they use 30% effective e-learning
models.
Source: Arizton

E-LEARNING MARKET
Latin America hosts one of the most dynamic and expanding consumer sectors with
constantly evolving mid-income segments that are receptive to new purchasing
formats for several products and services. Argentina, Brazil, Chile, Colombia, and
Mexico host a large base of aspirational consumers, whose disposable incomes are
on the rise. Despite the macroeconomic uncertainties associated with the region,
many consumer markets stand relatively insulated on account of thriving domestic
consumption and rising associated new opportunities.
Exhibit 85 Latin America E-learning Market 2019–2025 ($ billion)
12.0 20%
18%
10.0
16%
14%
CAGR 8.0
12%
10.15%
6.0 10%
8%
4.0
6%
4%
2.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 5.72 6.71 7.70 8.38 8.98 9.60 10.22
Growth Rate 5.80% 17.27% 14.68% 8.88% 7.11% 6.91% 6.51%
Source: Arizton
The e-learning market in Latin America was valued at $5.72 billion in 2019 and is
The purchasing power of the millennial segment in the region is estimated at more
than $1 trillion over the next two years. This segment remains to be the most likely
end-user, both in the professional and personal learning segment, with people being
more educated, connected, and having higher disposable income than ever before.
These users are receptive to new technologies and services and would eventually be
ready to go the extra mile for a better-than-before learning experience.
Some of the factors that are driving the adoption of e-learning in Latin America are
as follows:

E-LEARNING MARKET
› The region’s consumer expenditure grew by 20−25% over the last five years, with major
changes in consumption trends. Several products and services that once were designed
to be delivered only offline are now being molded to suit an optimal mix of both online
and offline distribution. Academic and professional education, which was once
predominantly designed and delivered offline, started to underperform compared to
online delivery modes driven by the latter’s functional value, richness, diversity, and
comfort of consumption.
› The region, which once lagged OECD in terms of internet penetration, has gained pace
over the past decade driven by a rapid expansion in mobile and internet infrastructure.
Better availability of internet ensured open and easier access to content for both academic
and professional end-users, including foreign language learning, federal training
programs, interactive higher education, and rich vocational learning.
› MOOCs have emerged to be the first and most effective learning avenues worldwide
since 2010. The evolution of MOOCs in Latin America can be termed as late since several
of the otherwise meant-to-be-open content was restricted for access through licenses and
subscriptions with free access only available for academic users. However, with
increasing participation of higher education universities and several foundations, there
emerged platforms such as MiriadaX that offer seamless content to more than 1,000
universities across the region. Other examples include Veduca, which is funded by
Macmillan Digital Education, and Mountain do Brasil SCA, which is the first to launch
content on mechanical physics, probability, and statistics in Brazil, Portuguese, and
subsequently in Spanish, finding appeal among populations other than English. Other
universities that offered Coursera programs since 2013 in Spanish are Universidad
Nacional Autónoma de México and Tecnológico de Monterrey.
› The growing access to technological equipment and connectivity, progressive demand

for market-relevant skills, and competencies and innovative teaching models is driving
the presence and popularity of e-learning in the higher education segment. The same is
also supported by the active participation of policymakers who view this as an effective
tool to democratize education and strengthen human capital.
Despite the above, the e-learning market in the region faces some stiff challenges, as
listed below:
› Offline and in-person education still stands as a primary model in 60% of universities,
with only 15% emphasizing on completely digital learning solutions. Another 25% of the
institutions rely on hybrid models since a majority of the stakeholders perceive e-learning
models to lag in terms of effectivity and reach compared to traditional learning models.

E-LEARNING MARKET
› Lack of coherence between the e-learning content and professional demands of the labor
market. One-third of universities and over half of employers in the regions still believe
that the existing e-learning content can only cater to a limited skill development needs of
students and employees.
› Lack of accreditation is a pending challenge that hinders the goal of guaranteeing quality
education. Only one-third of universities have their programs accredited by national
authorities, 19% report that some of their programs are accredited, and the remaining
50% have no accredited programs.

E-LEARNING MARKET
21.2 DELIVERY MODE

Table 40 Latin America Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 1.66 1.95 2.24 2.44 2.62 2.81 3.00 10.44%
Others 1.01 1.20 1.40 1.54 1.68 1.82 1.97 11.78%
Total 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton
21.3 LEARNING MODE

Table 41 Latin America Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 2.48 2.95 3.42 3.77 4.09 4.43 4.77 11.53%
Instructor-led 3.24 3.77 4.28 4.61 4.89 5.17 5.45 9.03%
Total 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton
21.4 FUNCTION TYPE

Table 42 Latin America Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 4.57 5.35 6.11 6.63 7.08 7.55 8.01 9.80%
Testing 1.15 1.37 1.59 1.75 1.89 2.05 2.21 11.47%
Total 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton

E-LEARNING MARKET
21.5 END-USERS
Table 43 Latin America Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 1.35 1.58 1.81 1.97 2.11 2.25 2.40 10.06%
Corporate 1.62 1.94 2.27 2.53 2.77 3.02 3.29 12.52%
Government 0.78 0.89 1.00 1.06 1.10 1.15 1.19 7.37%
Vocational 0.32 0.37 0.42 0.46 0.49 0.52 0.55 9.85%
Total 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton

E-LEARNING MARKET
21.6 KEY COUNTRIES
Exhibit 86 Incremental Growth in Latin America 2019 & 2025
BRAZIL $1.37 BN $2.64 BN 11.53%
MEXICO $0.88 BN $1.57BN 10.24%
ARGENTINA $0.75 BN $1.34 BN 10.17%
CHILE $0.47 BN $0.80 BN 9.25%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP 3 CONTRIBUTORS
ABSOLUTE GROWTH
79%
$1.3 BN
$0.7 BN
Y
$0.6 BN
X
ARGENTINA MEXICO BRAZIL

2019 2025

E-LEARNING MARKET
21.6.1 Brazil: Market Size & Forecast
With a current population of 212 million, Brazil was the world’s ninth largest
economy with a GDP of $2 trillion. The country has the largest economy in Latin
America and is a key contributor to the region’s growth. Despite the current and
economic and political turmoil, Brazil is the fifth largest higher education market in
the world and the largest market in Latin America. In 2018, the total expenditure on
education was estimated at over $35 billion. The market in Brazil is maturing and
gradually moving toward stagnation in the academic segment. However, the
corporate and vocational e-learning segments are likely to display significant growth
Exhibit 87 E-learning Market in Brazil 2019–2025 ($ billion)
3.0 20%
18%
2.5
16%
14%
CAGR 2.0
12%
11.53%
1.5 10%
8%
1.0
6%
4%
0.5
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 1.37 1.63 1.89 2.08 2.26 2.45 2.64
Growth Rate 18.75% 16.13% 10.25% 8.45% 8.23% 7.83%
Source: Arizton
The e-learning market in Brazil was valued at $1.37 billion in 2019 and is expected
The country’s primary and secondary education system is divided into three cycles:
pre-school, primary education, and high school. In Brazil, primary and secondary
education starts at the age of 3–4 and takes on an average approximately 14 or 15
years to complete. There are approximately 57 million students in the basic education
system, with 8.7 million in pre-schools, 37.72 million in elementary schools, and 11.1
million in high schools. The higher sector education includes 7.3 million enrolled
students. Further, it is estimated that 72% of the higher education students go to

E-LEARNING MARKET
private institutions. The growing penetration of smartphone users, coupled with the
increasing internet penetration, is driving the demand for e-learning in Brazil.
Further, the rising infrastructural development and demand among K-12 and higher
education students are the primary driving factors for the e-learning market in Brazil.
Exhibit 88 Students Enrollment by Institutions in Brazil 2018
Distance Learning
5%
Primary & Seconday

81%
On Campus
14%
Source: Arizton
The Brazilian Government has also supported the e-learning market and has invested
in the sector. Since 2007, the Brazilian Education Ministry has invested in
“PROINFO,” a program that promotes IT as an important teaching tool. The program
promotes the installation of computer and related technology labs in public
elementary and high schools, laptops for teachers and students, digital boards,
projectors, and tablets. In 2018, the government was expected continue investing in
technology programs with additional purchases of tablets for teachers, computers for
technology laboratories at schools and universities, smart and digital boards,
projectors, and other learning technologies. In Brazil, the internet penetration was
estimated at 70% in 2018. The average time spent on laptops and desktops is 4.59
hours compared to mobile devices 3.56 hours per day.
For the next decade, the fastest growing segment in the education market in Brazil
will be short-term vocational and English learning courses, due to government
investments in technical schools and courses for high school students and adults.
Over the past five years, the demand for professional/vocational courses grew by
50%. Education fairs are one of the most efficient means to recruit individual
Brazilian students. Some of the recent education fairs held in 2018 are as follows:

E-LEARNING MARKET
Exhibit 89 Major Education Fairs held in Brazil 2018
Study Travel: ALPHE Conferences March 7−9, 2018 in Sao Paulo – The conference creates an
networking environment between international educators and student recruitment agents.
ICEF: September 20−22, 2018 in Sao Paulo – This workshop provides an opportunity
for international educators from all sectors to consolidate existing partnerships as
well as establish new ones with quality, screened student recruitment agents. This is
the largest event of its kind in Brazil.
FAUBAI Conference: April 14–18, 2018 in Rio de Janeiro – The Brazilian Association
for International Education (FAUBAI) meets annually for the promotion and
improvement of exchange programs and international cooperation to improve
teaching, research, extension, and administration of affiliated institutions.
Bett Brasil Educar: May 8–11, 2018 in Sao Paulo – Though most exhibitors are domestic
manufacturers of low-cost equipment trying to capture a portion of the market created by
the Education Ministry spending on PROINFO, this show represents the best annual
opportunity to exhibit classroom technology and furniture in Brazil.
Source: Arizton
The globalization of higher education has relevance both for public and private
Brazilian higher education institutions. Brazilian federal research agencies have a
long history of supporting international research partnerships, and several bilateral
agreements with several countries in Europe, North, and Latin America have existed
for decades. However, the available English language courses at Brazilian
universities are still limited, but they are expected to grow during the forecast period.
In Brazil, higher education is dominated by private institutions; public institutions

are small and are unable to meet the standards required for higher education. Public
higher education institutions are directed to serve as centers of excellence and
research, with extremely competitive admissions standards and a limited capacity
for expansion. Private higher education institutions, on the other hand, are focused
on meeting the professional requirement of the labor market and have developed
flexible programs to meet the demand of the working population.

E-LEARNING MARKET
21.6.2 Mexico: Market Size & Forecast
Mexico has taken a leading role in global education, fostering student mobility and
academic exchanges with institutions abroad to become more competitive in the
global market. Mexico spent over 5% of its GDP on public education in 2018.
According to Mexico’s National Population Council, its population was estimated to
be 130.7 million people in 2018. Approximately 63% of the population is aged 15–60
years, and of these 80% reside in urban locations. In 2018, the National Institute of
Statistics and Geography (INEGI) reported over 54 million of Mexicans as
economically active. The increasing middle class has led to changing consumption
patterns, and one of the categories that is expected to benefit the most from this surge
to improve quality of life is education.
Exhibit 90 E-learning Market in Mexico 2019–2025 ($ billion)
1.8 20%
1.6 18%
1.4 16%
14%
CAGR 1.2
12%
10.24% 1.0
10%
0.8
8%
0.6
6%
0.4 4%
0.2 2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 0.88 1.03 1.18 1.29 1.38 1.48 1.57
Growth Rate 17.39% 14.79% 8.98% 7.20% 6.99% 6.59%
Source: Arizton
The e-learning market in Brazil was valued at $0.88 billion in 2019 and is expected
The growth of the e-learning market in Mexico is likely to decline as students are
leaving the country in pursuit of higher education. However, e-learning will be of
immense help to those students that cannot afford to travel abroad for higher studies.
E-learning will help these students to gain knowledge and learn from prestigious
institutes. Mexico is the ninth largest country of origin for students studying in the
US. In the academic year 2018, over 17,000 Mexican students were enrolled in US

E-LEARNING MARKET
schools, mostly for undergraduate programs, and contributed $617 million to the US
economy. In general, Mexican students choose to study in the US because of the
strong ties and proximity between the countries. The reputation of the American
higher education system is also a major influencing factor for students. However, this
can be a major challenge for the e-learning market.
According to the Mexican Education Reform, the new education structure aims to be
transformative, building the knowledge, skills, values, and attitudes that help
students to contribute toward a global environment. Technology and innovation play
a key role in providing learning tools to educators and students for a more interactive
experience in classrooms. Thus, the growth of the e-learning market is likely to
increase during the forecast period.
E-learning in the fields of corporate, vocational, and government is rapidly increasing

in recent years. With only 65% internet penetration in the country, students cannot
realize the benefits of e-learning, which is a major challenge for the growth of the
market over the next few years. In industrial automation, e-learning is helping
professionals to learn about the process and solutions for machinery breakdowns in
an easy tutorial format in the local language. This helps to solve the problems easily,
effectively, and efficiently. In 2018, the K-12 and higher education segments were the
leading end-users of e-learning in Mexico and were expected to grow at the highest
rate during the forecast period.
English language learning is one of the popular courses because it helps Mexicans in
getting jobs locally and abroad. According to The British Council, the leading
motivation among beginner students for the English language is to improve their
employment prospects (26%), to enhance their quality of life (16%), and to travel
abroad (16%). On average, 58% of English learners view the language as a means for
greater employability. Thus, only English tutorials are one of the popular courses in
Mexico.

E-LEARNING MARKET
21.6.3 Argentina: Market Size & Forecast
Argentina is liberalizing its political and economic policies to reform the economy,
increase free trade, develop the IT infrastructure to attract foreign investors to the
country, and develop opportunities for businesses. Also, the government is
developing educational policies and encouraging students to study. Further, with the
use of technology and globalization, the government and private firms are training
and teaching the student to use online platforms.
Exhibit 91 E-learning Market in Argentina 2019–2025 ($ billion)
1.6 20%
18%
1.4
16%
1.2
14%
CAGR 1.0
12%
10.17%
0.8 10%
8%
0.6
6%
0.4
4%
0.2
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 0.75 0.88 1.01 1.09 1.17 1.25 1.34
Growth Rate 17.31% 14.72% 8.91% 7.13% 6.92% 6.52%
Source: Arizton
The e-learning market in Argentina was valued at $0.75 billion in 2019 and is
The government, provincial authorities, and the autonomous city of Buenos Aires
have the major responsibility of ensuring high-quality education. They are also
responsible for planning, organizing, and monitoring finances for the national
education system. The government spent 5.6% of the total GDP on education in 2018.
Argentina’s annual expenditure per student is expected to be $4,240 over the next
few years. For primary education, Argentina spent 1.9% of the GDP in 2018.
The growing internet penetration, increasing urbanization, rising investments in the

educational sector, and growing smart users are driving the growth of the e-learning
market in Argentina. Argentina has the highest internet penetration rate of 93.1% in

E-LEARNING MARKET
Latin America. In 2018, 67% of the population were using smartphones, and 63% of
the population was using laptops, PCs, and tablets to access the internet in Argentina.
Argentina strives at increasing the scope of public services and aims at promoting
the development of physical, language, communication, cognitive and socio-
emotional skills of children in the age group of 0−5 years, with a $200 million loan
approved by the Inter-American Development Bank (IDB) in 2018.
The high concentration of international corporate offices and an increasing number

of business start-ups are driving the corporate e-learning market in Argentina. The
ease of doing business is also attracting many entrepreneurs to establish their
business in the country. Further, companies are using technology as a medium to
train and educate their professionals as it is easy and cost effective for them.

E-LEARNING MARKET
21.6.4 Chile: Market Size & Forecast
In Chile, internet penetration is 77.5%, which is helping to drive the growth of the e-
learning market. With better connectivity and ease of technology, people have better
access to e-learning courses to help them improve their skills.
Exhibit 92 E-learning Market in Chile 2019–2025 ($ billion)
0.9 18%
0.8 16%
0.7 14%
CAGR 0.6 12%
9.25% 0.5 10%
0.4 8%
0.3 6%
0.2 4%
0.1 2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 0.47 0.55 0.62 0.67 0.72 0.76 0.80
Growth Rate 16.33% 13.76% 8.00% 6.24% 6.03% 5.63%
Source: Arizton
The e-learning market in Chile was valued at $0.47 billion in 2019 and is expected to
E-learning is a new technology that simplifies the learning processes and provides
great opportunities for educational institutions. Adopting technology effectively
often leads to casting aside traditional, analog teaching methods, and gradual
implementation of new tools that offer teaching staff, students, and management
speed and greater satisfaction.
The e-learning market in Chile has been growing at approximately 40% since 2008,
and this trend continued to continue due to the country's economic situation and its
infrastructural development. The e-learning market in Chile was dominated by the
K-12 segment, followed by the higher education and vocational courses segments in
2019. The K-12 and higher education segments together accounted for a market share
of over 65% in 2019. The corporate and government segments are the fastest growing
with CAGR of more than 11% each, during the forecast period.

E-LEARNING MARKET
The National Training and Employment Service (SENCE) reports that every year,
numerous companies start using e-learning courses. This growth is mostly from
national companies since it is believed that all companies of foreign origin already
use it. According to reports from ACEL (Chilean Association of E-Learning),
universities and companies expect this growth rate to double over the next two years,
mainly due to the change of market perception regarding virtual teaching. Catholic
University, Adolfo Ibañez University, University of Chile, University of the
Americas, University of Los Lagos, and Santo Tomas University are some of the
universities using e-learning solutions.
According to the Chamber of Commerce of Santiago, 33% of Chilean companies

impart training for their workers through the internet, and it is considered that they
use 30% effective e-learning models. In Chile, the percentage of companies is still low
(4−6%). However, it offers significant growth potential for the e-learning market,
especially among medium-sized companies.

E-LEARNING MARKET
MIDDLE EAST & AFRICA

E-LEARNING MARKET
22 MIDDLE EAST & AFRICA

Exhibit 93 E-learning Market in Middle East &Africa 2019–2025
MIDDLE EAST & AFRICA E-LEARNING MARKET ANALYSIS 2019-2025
Key Markets in Middle East & Africa PREFERRED PRODUCT SEGMENTS

2019 ($ billion) 2019
1.44
0.41 • LMS : $0.48 BN/ CAGR 22.48%

• SELF PACED : $1.06 BN/ CAGR 18.77%
• CORPORATE : $0.93 BN/ CAGR 16.14%
GCC South Africa Others
END-USER ANALYSIS 2019
Segmental Contribution by End-users

Major End-user Analysis
6% In 2019, the corporate learning segment

16%
12% accounted for the largest share of the market,
K-12
followed by the higher education segment.
Higher Education
Corporate
31%
Government The corporate sector is expected to
35% Vocational grow at the fastest CAGR of 16.14%
during the period 2019–2025.
• E-learning in the region is primarily driven by secondary education, corporate training, and
language learning.
• The high CAGR in the region is attributed to smaller base values as well as unprecedented growth
in the overall education sector in the region.
• LMSs, especially massive open online courses, are the most demanded platforms for online
education in South Africa.
Source: Arizton

E-LEARNING MARKET
The Middle East & Africa region has been playing a pivotal role in the global
economic growth in the past two decades as the region increasingly leveraged the
positive economics of crude trade to build a record budget surplus. There has been a
dramatic improvement in the quality of living and infrastructural set up in the region
driven by spending of these budget surpluses on public infrastructure. With oil
prices at a low and having realized the risk of being economically reliant on oil,
several Middle Eastern economies are increasingly turning to alternative avenues of
growth, including tourism, education, and manufacturing. An envisaged $1 trillion
worth of ambitious infrastructure expansion plan in the region warrants a
fundamental rethink on its strategies pertaining to human capital and their skills and
resources. There has been an enhanced focus of governments in the region to invest
in educational reforms and continuous skill development of the workforce to gain
and retain a competitive edge, especially in the services sector.
Some of the factors that characterize the education sector in the region are as follows:
› The average level of schooling since 1960 has quadrupled over the past four decades, and
illiteracy has declined by more than half since 1980. For instance, adult literacy in the
region rose from 60% in 1980 to over 78% by 2018. The same is driven by aggressive public
spending on education, especially on schooling and higher education. An estimated $14
billion is earmarked as expenditure to improve the quality of educational infrastructure
and professional qualifications of tutors and deploy tech-enabled tools and resources, of
which smart classrooms are the major planned avenues.
› The gender gap, which traditionally was cited as a major challenge in the region, has been
reduced with the progressive outlook of the existing regimes. The male literacy rate in
the region is estimated at 85%, while the female literacy rate is 74%; however, there has
been a dramatic improvement in primary enrolments with several countries on the verge
of achieving universal primary education. Some interesting trends persist, such as the
prevalence of “reverse gender gap,” wherein girls have outperformed boys in
mathematics in primary education. Similarly, secondary enrolments also have shown
significant improvement in countries such as the UAE, Saudi Arabia, Qatar, Bahrain, and
Oman.
E-learning in the region is primarily driven by secondary education, corporate

training, and language learning. Governments in the region are set to collectively
commit more than $1.2 billion during the forecast period to improve the curriculum

E-LEARNING MARKET
in both primary and higher education with aggressive adoption of LMS systems.
About 6 of 10 global universities in the region have indicated an undergoing initiative
in the implementation of e-learning in their existing course framework.
Some other drivers for the growth of the e-learning market in the region are as
follows:
› The region is gradually coming out of its conservative mindset; wherein women are
increasingly coming into the mainstream, assuming participatory roles in commerce and
administration. This has led to the opening up of a new user segment for e-learning,
which otherwise remained dormant.
› The establishment of world-class universities that attracts students from across the world,
thereby enabling the need for cultural exchange, language acclimatization, and global
pedagogy is growing. There has been a rise in the number of global universities that offer
a wide variety of courses and are attracting students across the world in order to better
groom the region into a talent incubation hub.
› These universities stand as a center for the adoption of e-learning pedagogy driven by a
multicultural outlook and due realization over the advantages of technology-enabled
teaching. A majority of these universities indicated having at least 10 corporate
partnerships, each in closely working to bridge the skill gap for job requirements of the
potential employers in their campuses. These universities view e-learning platforms as
indispensable in this context to accomplish it in a faster and cost-effective manner.
Over the past few decades, the region has attracted migrants from Asia and Europe
for that they played a key role in this economic growth story. Despite the region
holding different people from several cultures, ethnicities, and religions, language
stands as a major barrier for the native people while interacting with the migrant
population. Arabic is predominantly spoken in the region with only 30% of the native
population termed as “reasonably comfortable” in English. Governments in the
region have understood the strategic importance of less dependent on energy exports
for economic growth have drawn ambitious plans to expand the countries’
capabilities into other realms of commerce. In doing so, the prerequisite identified to
be is to have a seamless mode of interaction in a language, which the world is
comfortable to use, i.e., English. Having realized the importance, governments in the
region have rushed to establish e-learning and language training programs across
the entire learning value curve. Partnerships have thus been realized, such as those
of Oman’s Ministry of Education and AMIDEAST with SIT Graduate Institute to
enable English learning and facilitate certifications and training programs.

E-LEARNING MARKET
Exhibit 94 E-learning Market in Middle East 2019–2025 ($ billion)
7.0 18%
16%
6.0
14%
5.0
CAGR 12%
13.78% 4.0 10%
3.0 8%
6%
2.0
4%
1.0
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 2.64 3.07 3.51 3.92 4.40 5.01 5.72
Growth Rate 10.97% 16.66% 14.21% 11.74% 12.11% 13.78% 14.24%
Source: Arizton
The e-learning market in Middle East was valued at $2.64 billion in 2019 and is
expected to reach $5.72 billion in 2025, growing at a CAGR of 13.78% during the
forecast period.
The high CAGR in the region can be attributed to smaller base values as well as
unprecedented growth in the overall education sector in the region. The increasing
number of expats in the region is also underpinning the demand for e-learning in the
region.
E-learning platforms, especially those that are gamified and SaaS-based, have gained
much attention in the Middle East on account of their ease of use and interactive
mode of pedagogy. About 64% of the corporates polled in the region reported the
dearth of requisite talent with well-equipped professional and language skills and
have indicated their interest in adopting e-learning platforms to bridge the same.
The major reasons for their interest are as follows:
› The dearth of well-qualified professionals to conduct professional training as per the

dynamic needs of the organization with e-learning catering to the shortage through
remote access to qualified instructors.
› Several countries in the region such as the UAE, Saudi Arabia, Oman, Bahrain, Qatar, and
Egypt are well-equipped in terms of internet connectivity and smartphone adoption, with
the same growing in the region by 17% YOY. The employers in the region are looking

E-LEARNING MARKET
forward to implementing continuous learning programs that can easily engage the
audience and are multi-modal in terms of delivery. Thus, they are offering highly
gamified learning applications for both internal and general use that offer various
courseware and tests to improve contextual, language, and general analytics skills of
employees.
The African e-learning market can still be termed as in the earlier stage of growth
with much of the potential yet to be realized. Internet connectivity in Africa, with
limited penetration and bandwidth, is confined in terms of access compared to the
global average. However, it is undergoing major growth with the telecom revolution,
wherein aggressive investments have been earmarked by increasing data
connectivity and public Wi-Fi access. The same was also supported by a rise in
smartphone penetration, wherein with the advent of smartphones in the $50–100
category enabled easy access to the internet for a wide range of audience. With more
than half a billion people in the region having access to the internet, this number is
set to grow to 780 million by 2022. Further, the average monthly data usage, which
currently is 0.4 GB, is set to increase to 5 GB by 2022, driven by high data costs and
improved infrastructure with the advent of transcontinental fiber-optic networks.
Better internet connectivity is ensuring the proliferation of new learning methods and
access to a wide repository of open tools and resources for academic learners in the
region.
E-governance is another major opportunity for the implementation of e-learning with

several governments in the region adopting innovative cloud programs to better
train the state workforce, illustrate role models, and establish better communication
and connectivity with various stakeholders of interest. Workforce training for
governments in the region alone represents a $280-million opportunity during the
forecast period. E-learning is often viewed as the fastest and cheapest skill delivery
mode in this context with minimal reliance on instructors.
The continent comprising 54 countries and one billion population is often viewed as
the next largest growth opportunity. Supported by sound economic policies, debt
relief, strong institutions, and robust FDI, several countries in Sub-Saharan Africa are
now sustaining 5–6% growth rates. The region remains an attractive destination for
FDI with an estimated capital investment of $65 billion in 2015 alone spread over 700
projects. These projects demand the enrolment of skilled and unskilled labor.
Western Europe, especially the countries of Italy, France, and the UK followed by the
US, the UAE, and Bahrain that together constitute 50–55% of the FDI sources. The

E-LEARNING MARKET
execution of these projects entails the migration of expats into the region and
warrants the need for skill development and language training for effective
communications. While instructor-led training is often most preferred in this context
driven by limited computer literacy, e-learning is often viewed as the most effective
channel over the medium to long-term learning enabling individuals to continuously
build their functional and language skills with minimal cost impact to the employer.
Universities in the region, after due recognition of their skill gap, are launching
online language learning and functional courses to precisely suit the employer
requirements. Cross-border collaborations and MoUs, especially in terms of content
creation and delivery, stand to be key to achieving the same. For instance, Kenya's
largest universities - Kenyatta and Nairobi, have announced new courses in Chinese
and Korean, respectively, and hosted branches of China's Confucius Institute.
Kenya, which is a key economy in the African continent, is soon emerging to be a

major trade partner with countries including the US, the UK, India, and China, which
collectively host more than 40% of the trade value. There has been an influx of skilled
labor from these countries into Kenya that is propelling a fundamental
transformation concerning language and skill exchange. Online language learning is
the preferred mode for these expats to get well-versed with the local languages, while
the same is equally valid with corporates emphasizing that mid-level managers be
well trained in English, French, or Arabic to effectively communicate with their
overseas counterparts.

E-LEARNING MARKET
22.2 DELIVERY MODE

Table 44 Middle East & Africa Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 0.48 0.61 0.75 0.90 1.09 1.33 1.63 22.48%
Others 0.43 0.51 0.61 0.70 0.81 0.95 1.11 17.41%
Total 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton
22.3 LEARNING MODE

Table 45 Middle East & Africa Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Self-paced 1.06 1.30 1.55 1.81 2.11 2.51 2.98 18.77%
Instructor-led 1.58 1.78 1.96 2.12 2.28 2.50 2.74 9.68%
Total 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton
22.4 FUNCTION TYPE

Table 46 Middle East & Africa Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
Training 2.13 2.46 2.77 3.05 3.38 3.79 4.26 12.23%
Testing 0.50 0.62 0.74 0.87 1.02 1.22 1.46 19.36%
Total 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton

E-LEARNING MARKET
22.5 END-USERS
Table 47 Middle East & Africa Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 0.43 0.50 0.57 0.63 0.71 0.80 0.90 13.03%
Corporate 0.93 1.11 1.30 1.48 1.69 1.96 2.29 16.14%
Government 0.30 0.35 0.39 0.42 0.46 0.51 0.57 11.06%
Vocational 0.16 0.19 0.22 0.24 0.27 0.31 0.35 14.04%
Total 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton

E-LEARNING MARKET
22.6 KEY COUNTRIES
Exhibit 95 Incremental Growth in Middle East & Africa 2019 & 2025
GCC $1.44 BN $3.30 BN 14.76%
SOUTH AFRICA $0.41 BN $1.04 BN 16.69%
INCREMENTAL GROWTH
INCREMENTAL GROWTH
TOP CONTRIBUTORS
ABSOLUTE GROWTH
117%
$1.9 BN
Y
$0.6 BN
X
SOUTH GCC
AFRICA
2019 2025

E-LEARNING MARKET
22.6.1 GCC: Market Size & Forecast
In recent years, the unprecedented growth of the global e-learning market has been
linked with North America and Europe. Following suit, as countries in several cities
in the Middle East are finding new opportunities to develop economically and make
the base for international infrastructure, advancements in the field of e-learning have
been no different. The Middle East & Africa e-learning market is expected to witness
continuous growth owing to increased investments from state governments and
unprecedented popularity and demand for e-learning, especially among higher
education and corporate professionals.
Exhibit 96 E-learning Market in GCC 2019–2025 ($ billion)
3.5 20%
18%
3.0
16%
2.5 14%
CAGR
12%
14.76% 2.0
10%
1.5
8%
1.0 6%
4%
0.5
2%
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 1.44 1.70 1.96 2.21 2.50 2.87 3.30
Growth Rate 17.80% 15.28% 12.73% 13.05% 14.68% 15.09%
Source: Arizton
The GCC e-learning market was valued at $1.44 billion in 2019 and is expected to
The GCC education sector has been buoyant, and there is even higher optimistic
outlook for the education industry in the UAE. Several factors, including population
growth, the upcoming Expo 2020, government policies to support investments in
education sector, megaprojects in the region inviting skilled and labor class
workforce, rising participation from private sector, and improving quality standards
to surpass competition among the GCC states and the Middle East are the driving
forces for the e-learning market in the region.

E-LEARNING MARKET
The education sector is facing challenges on several fronts including recruitment of

quality staff, student retention, safeguarding quality and reputation decided by
regulatory ratings, resilience by balancing fee income and costs, discounts and
rebates, as well as the requisite for schools to redefine their differentiating points in
the competitive market. These factors mentioned above are success points for e-
learning vendors in GCC countries.
There is a growing preference for international curriculum, especially the British

curriculum. This, coupled with trends including a shift in technology, increasing
confidence, new ICT infrastructure to bridge the demand-supply gap, linking the
education chain of schools, tertiary institutions, universities, and potential
employers, will attribute to the growth of e-learning in the region.

E-LEARNING MARKET
22.6.2 South Africa: Market Sie & Forecast
The rising tourist traffic in the country has propelled the need for a higher number
of hotels and guestrooms, restaurants, and other hospitality facilities, which, calls for
an increase in the number of skilled workers across these segments, especially with
the knowledge of English and other languages to service their international tourists
and delegates. With increased guest footfall, a skilled workforce becomes a requisite,
which, in turn, is likely to drive the demand for e-learning platforms in the corporate
and government segments.
Exhibit 97 E-learning Market in South Africa 2019–2025 ($ billion)
1.2 25%
1.0
20%
CAGR 0.8
15%
16.69%
0.6
10%
0.4
5%
0.2
0.0 0%
2019 2020 2021 2022 2023 2024 2025
Revenue 0.41 0.49 0.58 0.66 0.76 0.89 1.04
Growth Rate 19.79% 17.22% 14.63% 14.95% 16.61% 17.03%
Source: Arizton
The e-learning market in South Africa was valued at $0.41 billion in 2019 and is
Riding on the growth of industries and increasing investments from public offices to
educate their employees in several segments, as well as an increased presence of
students in the schools and higher education institutes, the demand for digital
learning or online education is finding steady grounds for growth in the country. As
the country is witnessing the rise of local businesses and entry of international
companies, online learning and education are rapidly becoming an important
instrument to add and enhance the skillset of students as well as working
professionals. In South Africa, LMSs, especially massive open online courses, are the
most demanded platforms for online education. The massive open online courses

E-LEARNING MARKET
have witnessed enrollment of over 81 million users in 2011–2018, and this trend is
likely to continue during the forecast period.

E-LEARNING MARKET
COMPETITIVE LANDSCAPE
E-LEARNING MARKET
23 COMPETITIVE LANDSCAPE
23.1 COMPETITION OVERVIEW
Expectations and learning requirements of academic and corporate end-users are
different, with both hosting different marginal utilities for services subscribed.
Further, buyers and end-users are different for both academic and corporate end-
users. While academic courseware should involve highly customizable platforms
that can enable instructors to customize content dynamically as per the student
requirements, corporates usually involve a set of courseware and content structure
periodically delivered online to a larger audience. LMS, packaged content, and
amplified learning all demand different marketing and operational resources, and
thus, it is highly advisable for medium-sized vendors not to chase all customer
segments and emphasize on a few.
The e-learning market in Latin America

Vendors must keep a continuous
has witnessed several mergers and
track of pricing of new entrants;
acquisitions over the last seven years. while price-based competition is
Several companies, which started with a not recommended, attractive
focus on one or two segments such as prices can well detract buyers and
K12 or secondary education, have the same must be effectively
strengthened their offerings and mitigated with innovation and
portfolios by acquiring smaller start-ups product development. Achieving
active in the field of distance learning, scale is another challenge that
on-campus post-secondary education, can be only addressed by gaining
and corporate or public sector workforce a reasonable degree of
skill training. popularity.
Setting the price right to effectively gauge and capture the marginal utility of the
potential consumer is another strategic challenge for vendors in the e-learning
market. Since there are little safeguards to protect intellectual property, especially in
terms of content copyright, it is necessary for vendors to constantly innovate and
offer better engaging content through effective ways. This will enable them to better
deal with the price-based competition that arises as a result of the growing
concentration of players. In view of a large number of players, and the face of rapidly
evolving learning preferences, it is imperative for vendors to not only focus on
customer acquisition but also their retention. While freemium offerings with
attractive short-term subscription pricing can help garner a large customer base,

E-LEARNING MARKET
continuous investments in product development, especially through gamified and

contextualized interfaces, can help them engage and retain the learning audience.
Further, vendors also have to keep a continuous track of pricing of new entrants;
while price-based competition is not recommended, attractive prices can well detract
buyers, and the same has to be effectively mitigated with innovation and product
development. Achieving scale is another challenge that can be addressed only by
gaining a reasonable degree of popularity.
Exhibit 98 LMS Products: Factors for Gaining Userbase
Source: Arizton
Over the past few years, there has been a consistent rise in price-based competition
among vendors with the advent of small and medium-scale players that can
efficiently optimize their cost structure, especially through crowdsourcing the
content or co-creating the same with an engaged audience. The same will also ensure
the engagement of a large section of the audience, including instructors, opinion
makers, learners, and industry experts that can also act as great brand ambassadors.
Some of the strategies that can be deployed by packaged content vendors to gain
increased adoption are as follows:

E-LEARNING MARKET
Exhibit 99 Packaged Content: Factors for Gaining Userbase
Source: Arizton

E-LEARNING MARKET
23.2 STRATEGIC RECOMMENDATION
› E-learning courses and portals over mobile devices and through applications to witness
growth prospects due to high penetration of smartphones.
› The economic uncertainty in several regions such as the UK, Brazil, Argentina, and India
has led to job reduction for those who have secondary level education. Recruiters in the
public and private sector prefer candidates with higher education, thus increasing the
enrolment in distance learning and campus courses.
› Incentives from state agencies are reducing due to economic turmoil. This has opened
avenues for private and for-profit education companies.
› The fragmented market is compelling vendors to indulge in innovative teaching and

learning methods. The market will witness an increased demand for customized e-
learning modules.
› The inclusion of audio/video content and gamification is highly recommended for the
K12 segment.
› Major players in the e-learning market are acquiring or merging with active players
having different competencies to increase their portfolio.
› Kroton, a leading education company in Latin America, offers Canal Conecta, which is
essentially a job placement platform for both present and ex-students of the company.
This has helped the company to get and retain a greater number of students.
› Firms in the private education sector are likely to maintain a leading position during the
forecast period.
› There is a dearth of adequate trainers and faculties both in terms of quality and quantity.
While countries such as India, China, and Indonesia represent a significant potential
market in terms of learners, there is a shortage of qualified and certified instructors, thus
warranting the need for platforms that can facilitate a broader reach of the curriculum.
› Skill development is another focus area for governments with the long-term
implementation of continuous e-learning programs, supplemented by instructor-led
models. Ensuring the workforce’s skill upgrading and better productivity will help
countries build medium to long-term business competitiveness.
› Owing to the outbreak of the COVID–19, the demand for intersections of K-12, higher
education and workforce learning is expected to grow.
› The demand is expected to spike in 2020, providing enormous opportunities for e-

learning platform providers globally.

E-LEARNING MARKET
24 KEY COMPANY PROFILES

24.1 APOLLO EDUCATION GROUP
24.1.1 Business Overview
Apollo Education Group is a private educational corporation founded in 1973 by Dr.

John Sperling in the US. This group owns and operates high-profile colleges and
universities such as the University of Phoenix, Western International University,
Axia College, and the College of Financial Planning. The Group has another venture
called Apollo Global, which carries out the international operations of the
corporation. It provides professional development, undergraduate, graduate, and
other non-degree education programs and services. These programs and services are
provided on-campus and online and across the world, including the US, Europe,
Asia, Australia, Africa, and Latin America.
University of Phoenix: It is a private university founded in 1976 in the US and has

graduated more than 950,000 students. The university provides undergraduate and
graduates degrees in a wide range of program, including education, business, and
nursing through its schools and colleges. The university has a significant majority of
students that attend classes exclusively online, and it also provides many of its
educational programs and services online across different locations in the US. It also
provides non-degree education programs and services to improve a particular skill
for employment or advancement in careers. In 2016, the University of Phoenix
generated 78% of the consolidated net revenue.
Apollo Group: It is a wholly owned subsidiary that provides educational programs

based outside of the US. It delivers effective and flexible education to working
professionals in underserved international markets. In 2016, Apollo Global served
more than 175,000 learners in short-term and non-degree programs, and most of the
students purchased certain self-study and asynchronous programs.
Others includes:
› The College for Financial Planning Institutes Corp. – Founded in 1972, the college is the
creator of the Certified Financial Planner, referred to as the CFP designation. It provides
online financial services and education programs including degrees in three major areas
of certificate programs, continuing education courses, and Financial Industry Regulatory
Authority securities license training.

E-LEARNING MARKET
› Western International University Inc. provides undergraduate and graduate degrees in

various programs that include behavioral science, business, and information technology.
› TIY Academy LLC: The Iron Yard provides various non-degree boot-camp programs,
which provide intense and immersive skills training, designed to provide direct
pathways to associated careers in the information technology sector. These programs are
typically of 12 weeks or lesser in duration.
› Apollo Professional Development: It provides employees to help better them recruit,

develop, and retain a qualified workforce.
24.1.2 Product Offerings
Table 48 Apollo Education Group: Major Product Offerings
Particulars
› Apollo Global › University of Phoenix

Learning Platform
› College for Financial › Western International
Planning. University
Professional Development
Solutions
› Employee Learning and Development
Note: The list is not exhaustive.
Source: Company Websites & Arizton
24.1.3 Key Strengths
› Apollo Education Group has been a pioneer in the education space worldwide for over
40 years. It leverages its long history and deep expertise in providing innovative
education offerings. It enables employees to accelerate their returns on home capital.
› The group plays an important role in higher education through its advanced learning
methods, technological investment, and international reach.
› It has a strong global presence across the globe, including the US, Europe, Asia, Africa,
Australia, and Latin America.
› Apollo Learning Lab provides learning and development programs and services in one
place. It provides useful information, innovative advice, insights and solutions for
professional development, global learning, and talent management.

E-LEARNING MARKET
› The company has one of the widest portfolios of courses that range from university
courses to vocational courses, including web development, positioning it as a well-
integrated full-stack player among its peers.
24.1.4 Key Strategies
› Apollo Education Group seeks to focus on improving the lives of working adults through
higher education. It also focuses on making unemployed learners’ job-ready and
employed learners more productive in their careers. The strategy of the Apollo Education
Group includes the following key themes:
› Drive Improvement in Student Progression and Career Outcomes: To maximize the

value for students from their education, it focuses on continuously improving
educational programs and services and providing the support essential for completion of
the programs and achieving their goals.
› Diversification and Targeted Growth: To focus on diversification through growth at

international institutions and increase the professional development and other non-
degree programs including business-to-business product and service.
› Operational Excellence: This helps the company to streamline operations, improve

efficiency, and ensure that the cost structure is in line with the enrollment levels. It
provides education more effectively and affordably to sustain the long-term
organizational strength and the ability to reinvest.
24.1.5 Key Opportunities
› The company can look forward to some key strategic acquisitions in emerging markets of
India and China that are hotbeds of growth in the realm of education expenditure.
› Opportunities persist in these markets, especially in term of LMS installation for

vocational courses and universities, with the latter ramping up their capital expenditure
to stack up against their world rankings.
› The company can look forward to launching its learning platforms such as Iron Yard in
these countries on its own or through collaborations with local ed-tech players such as
NIIT and Educomp that have made some decent inroads into the Indian market.
› It can look forward to consolidating all its offerings through a single parent brand
strategy to gain leverage over peers. Its offerings are marketed on a standalone basis, with
the company deriving the little benefit of the brand leverage of the parent company.

E-LEARNING MARKET
24.2 BLACKBOARD LEARN

BlackBoard Learn is a digital course management system developed by BlackBoard

Inc., an education technology company. It was primarily developed in 1998 but had
a stable release in 2010. It is a web-based software solution that constitutes course
management, customizable open architecture, and scalable design in which
information systems and authentication protocols are incorporated. BlackBoard’s
LMS is one of the most sophisticated digital learning platforms in the global e-
learning market.
It offers courses and solutions to different sectors that include the following:
› K-12 › Government
› Higher Education › Business
Table 49 Blackboard Learn: Major Product Offerings
Particular
› Mobile Communications
application
› LMS
K-12 › School and District Websites
› School Social Media
Management
› Learning Object Repository
› Synchronous Collaborative
Learning
› Competency-based Education
(CBE)
› Accessibility Planning
Higher › Platform Training and
› Course Quality
Education Technical Services › Strategic Marketing and
› Student Services and
Recruiting
Technology Support › Online Training
› Online Learning
› Mass Notifications and
Communications
Government › Online Training
› Professional Services
› Open Source Learning
› Data-driven Outcomes
› Extended Enterprise Learning

› Learning Professional
Business Solutions
› Open Source Learning

› Learning Performance

E-LEARNING MARKET
› Smooth Online Platforms and Interactive User Interfaces: Currently, BlackBoard’s e-

learning system is dominating the online learning software market. Its LMS is simple to
operate with an easy interface. The key component in the LMS is the way how the course
materials are presented and accessed, which is basic in BlackBoard’s system. The
communication process, i.e., the interaction between the instructor and the learner in its
systems BlackBoard 8.0 and BlackBoard CE6, is well designed. Its LMS is often perceived
to be very well maintained and updated from time-to-time with continuous upgrading
for better user experience.
› Large Regional Customer Base: BlackBoard is undeniably the leader in the US market.
Its diversified product portfolio and easy-to-operate LMS are some of the factors for its
success.
› Updates LMS Regularly: The company incorporates the latest technology from time-to-
time to update its LMS for an easy approach to its core teaching and learning products.
A centralized view, consistent usability, and an enhanced interface are the key areas of
the company. The latest update is the Ultra version, which has an optional interface apart
from the existing one in BlackBoard Learn 9.1 for a better user experience.
› Diversified Digital Education Solutions Provider: BlackBoard Learn is possibly the only
digital educational system with a wide range of product courses in the global e-learning
market. From K-12 to higher education to corporate learning to government sections, it
contains everything. This is one of the key strategies implemented by the company to
dominate the market and always stay at the top of its game.
› Need to Increase its Base in Global Market: BlackBoard has everything from a credible
LMS to a diversified product portfolio and a dominant share in its home market, but it
lacks presence in the global markets. The company can look for collaborations with
indigenous e-learning companies in emerging economies such as India, China, and Africa
that host huge potential markets and high prospective growth for digital learning.

E-LEARNING MARKET
24.3 BRITISH COUNCIL

The British Council is a UK-based organization specializing in international cultural

and educational opportunities. Founded in 1934, the organization primarily focuses
on English language and promotes its skills, culture, and society across the world.
Headquartered in the UK, British Council operates in over 100 countries worldwide
and has over 148 million online audiences.
The goal of this organization is to help people gain access to trusted qualifications,
which support their career and study prospects. The primary business of the British
Council is to promote the English language all over the world through various media
such as web, TV, and radio broadcasts. Its e-learning digital platform “Learn English”
is popular across the world.
Table 50 British Council: Major Product Offerings
Particular
› English Grammar
› Vocabulary Games
Grammar & Vocabulary › Quick Grammar
Fun & Games › Games › Jokes
Business & Work › Professionals › Business Magazine

Podcasts
Writing › Writing for a Purpose › English for E-mails
IELTS › ELTS Interview Skills › IELTS Tips
› Word on the Street

› Elementary Podcasts
› Starting Out
Listen & Watch › Premier Skills
› Magazine
› Stories and Poems
› UK Culture

E-LEARNING MARKET
› The company functions more like a charity than a business and thus holds significant
brand identity and recall as a standard entity with an unbiased approach and non-skewed
business interests.
› Its immense experience in its work with the entity often rated among the finest
institutions conducting English proficiency tests. Also, it has extensive experience in
conducting user research for English language use and proficiency.
› The organization is one of the oldest, operating in this realm enjoys extensive
collaborations and hosts several learning and testing centers across the world that gives
it ready offline access to a larger learner audience. The company also has a reasonable
physical presence in key growth markets across Asia and Africa.
› The company seeks to increase the value of its offerings by forging collaborations with
cultural organizations and multinational companies such as TCS and Vodafone, offering
it the best of insights of language learning needs in both general education and corporate
learning realms.
› It also looks to enhance its physical reach in several of the growth markets offering it the
best of advantage in terms of blended learning and better learner experience.
› The company is on the path to gain a strong foothold through its centers in key growth
markets of Asia and Africa that also host some of the rapidly growing markets for English
learners and test seekers.
› ELTS, one of the flagship international standardized tests of English language proficiency
for non-native English language speakers, which the company hosts and conducts along
with IDP and Cambridge English Language Assessment, is emerging to be one of the
most prominent English proficiency tests along with TOEFL, TOEIC and Pearson Test
› It can look forward to improving the acceptability of the test as a standard by a larger
audience of universities and corporates.
› The company can also look to leverage its existing framework to create proficiency testing
frameworks for other widely spoken languages in the world, including Spanish, Arabic,
French, and Chinese.

E-LEARNING MARKET
24.4 ORACLE
Oracle is a multinational software technology company founded in 1977 in

California, US. The company specializes in database software systems, cloud-
engineered systems, and enterprise software products. It ventured into the e-learning
business when it acquired Taleo in 2012, and the company also has its own e-learning
suite application - Oracle iLearning, an enterprise learning management system.
The company is a pioneer in cloud-based software products and solutions where it

has its own web solution for its own business module called the Oracle e-business
suite, developed completely by the SaaS technology. It initially developed it in the
1980s as a financial services application, but the offering is later transitioned into
human resource management, supply chain management, customer service
application, etc. This business application covers all the solutions that a corporation
requires by incorporating the SaaS model. Oracle has also acquired Taleo, a talent
management system, which programs through the cloud-based services.
Table 51 Oracle: Major Product Offerings
Particular
Asset Lifecycle › Asset Tracking › Property Management

Management
Enterprise
› Financial Management
Revenue › Project Portfolio Management
Planning › Human Capacity Management
Procurement › Oracle Advanced Procurement

› Oracle Sourcing
Supply Chain › Supply Chain Planning

› Logistics and Transportation
Management
Management
› Order Management
› Price Management
Manufacturing › Discrete Manufacturing › Process Manufacturing

E-LEARNING MARKET
› Oracle Assets › Oracle Receivables

Financial
Application
› Oracle General Ledger › Oracle Cash Management
› Oracle Payables › Oracle Tabs

› Strong R&D Abilities: Oracle offers a complete range of software products that a business
corporation requires, and this is achieved only through its strong research capabilities.
This is one field where the company is far ahead over its competitors.
› Diverse business Offerings: From cloud-based services to mobile applications to business

modules, the company has its fair share in web-based solutions. Its business does not just
confine to one particular region but across the world. In 2015, Oracle was named the
second largest software companies in the world after Microsoft.
› Acquisitions and Collaborations: Oracle, since its inception has strategically planned its
expansion into web-based software solutions. It is one of the first companies that
incorporate cloud-based technology into its services. Its acquisitions and collaborations
with various e-learning companies such as Taleo, Learn.com, and PeopleSoft show its
caliber in the global e-learning market.
› Strategic Inorganic Growth Plans: This is one of the key strategies and strengths of the
company to attain its current position in the market. Investments in similar businesses
and collaborations with several companies make it a leader in the industries.
› The company can look forward to growing its presence in the Indian and Chinese
markets, which promise a high opportunity in terms of rapidly growing consumer and
federal expenditure on education. Oracle can leverage its strong presence in the corporate
services sector to further gain a stronghold in the corporate learning segment.
› Oracle can look forward to either unbundle its learning and training offerings to lend
strong credibility and focus on otherwise IT-services laden business portfolio of the
company. Strategic mergers with a stronger focused player in digital learning or divesting

E-LEARNING MARKET
the interests into another entity may offer it an advantage for it to better leverage on
market growth and opportunity.
› Significant opportunities also exist for the company to look at the next generation
technologies such as AR and VR to imbibe the same into the existing learning models to
derive an advantage over the conventional offerings of its competitors.

E-LEARNING MARKET
24.5 PEARSON
Pearson PLC is an educational publishing company founded in 1844 in the UK. It

started as a construction business but later shut down and shifted to publishing.
Pearson is now the world’s largest publishing company and is home to many digital
educational brands such as Revel, eCollege, Pearson Vue, etc., providing courses
from Pre-K-12 to higher education to career opportunities.
Its digital learning products include the following:
› REVEL – an interactive learning management system that blends the educator’s narrative,
media, and assessment for students in one continuous experience.
› MyLab and Mastering – a higher education e-learning solution that consists of online
homework, tutorial, and assessment products.
› Pearson VUE – a step further to the educational community wherein it provides

individuals options for a career opportunity. From online material for various sectors
such as IT, government, healthcare, banking, and military to practice tests, it is one of the
industry’s most secure testing environments.
› Wall Street English – a digital global English school for adults
› Pearson Online Program Management – an online tool for people to access higher
education.
› UK Qualifications – offers academic and vocational qualifications
› TestNav – an online test delivery solution for K-12 schools
› Pearson Online and Blended Learning – digital learning platform for school children
Pearson International is headquartered in London, UK and it maintains offices across

Europe, North America, Asia, and South America. Its online chat support is based in
the Philippines, and it has a total employee base of over 50,000 across the world.

E-LEARNING MARKET
Table 52 Pearson: Major Product Offerings
Particular
› Assessment
› Professional Development and
K-12 › Online and Blended Learning Consulting Services
Solutions
› Grants and Funding
› Curriculum Resources
› Services
 Consulting Services
 Curriculum Services
 Grant Help
 Help Desk Services and

› Solutions
Technical Support  Alternative Credentials
 Online Tutoring from  Competency-based Education

Higher
Education Smarthinking  Managed Services for
› Course Content and Digital Community Colleges
Resources
 Online Program Management
 Interactive Learning and
Assessment
 Online Courses
 Learning Applications
 Course Content
Professional › Oracle Advanced Procurement

› Oracle Sourcing
› Extensive Distribution Network: Pearson is the largest educational publishing company

in the world, and so is its business network. The company operates in all the continents
and has its subsidiaries in every important country. Hence, this is one of the key strengths
for all e-learning brands associated with the company.
› Strong Brand Image: The company has over 40 years of experience in digital education
publishing and is a strong brand name in the segments it operates like media and

E-LEARNING MARKET
educational sectors. With a strong brand name and an impressive product and service
portfolio, Pearson is undoubtedly the leader in the global e-learning market.
› Calculative Targeting of Customers: Pearson’s e-learning products and services cover a

varied range of sectors, from pre-K-12 to the professional section. This gives customers a
chance to seek a career opportunity through which the traction toward its online system
increases. This is one of the key strategies implemented by Pearson.
› Concentration on the publishing of languages other than English as learning resources

for them can be still be termed to be in the nascent stage both in terms of growth and
quality
› Pearson, being a UK-based company, primarily focuses on the English language

throughout its product portfolio. To gain market credibility in the emerging economies
such as China, Africa, and India, it can consider further investments in translators for
native languages in key growth markets to gain further inroads into them.

E-LEARNING MARKET
25 OTHER PROMINENT VENDORS

25.1 DOCEBO
Docebo is a cloud learning management system, which is a single platform that

incorporates formal, informal, social, and experiential learning. Founded in 2005, the
company was primarily used for corporate learning, HR systems, and constitutes of
interfaces for video conferencing purposes. It is one of the most extensively used
SAAS platforms for e-learning.
The vendor’s offerings include the following:
› APIs › Automated Admin Tasks
› Advanced Reporting › Scalability
› UI and User Experience › Certifications and Retraining
› E-commerce › Mobility
› Audit Trail and CFR Part II › Notifications
› Integrations › Content Marketplace
› Gamification › Import and Create Courses
› White-labelling and › ILT Classroom

Customization
› Extensions
› Languages and Localization
Table 53 Docebo: Major Product Offerings
Particular Product Offering
› LMS
E-learning
Platforms
› Social Learning Platform
› LMS for Extended Enterprise


E-LEARNING MARKET
25.2 MCGRAW HILL E-LEARNING GROUP

McGraw-Hill is a US-based educational company founded in 1888 and is one of the

largest educational publishers in the world. McGraw-Hill E-Learning Group is a part
of a company that offers web-based technology and content solutions. This group is
known for its high quality, affordable, and easy-to-learn digital learning solutions. It
partners with renowned universities, schools, and organizations across the world by
providing professional and executive education, workforce development programs,
etc. McGraw-Hill’s digital solutions include IT training, certification courses, virtual
classroom tools, electronic publishing, and others.
Table 54 McGraw-Hill: Major Product Offerings
› E-learning Solutions
E-learning Platforms
› Technology Solutions
25.3 APTARA
Aptara is a digital content development company founded in 1980 in the US.

Founded as TechBooks Inc., it specializes in digital content production and
publishing, e-learning and technology development, legal content solutions, and
business process outsourcing. The company’s wide range of solutions reveal new
revenue streams, improve operations at market-leading companies worldwide. It has
its expertise in the following industries:
› Banking and Finance
› Healthcare and pharmaceuticals
› Information Technology
› Legal and Publishing.

E-LEARNING MARKET
Table 55 Aptara: Major Product Offerings
› Digital Content Development › Custom Content Services

E-learning › Corporate Learning and › Customer Lifecycle
Platforms Performance Management
› IT Services
25.4 DESIRE2LEARN
Desire2Learn, simply D2L, is a digital education technology company founded in

1999 by John Baker. The company was started with an idea to ensure the access of
best possible learning experiences to everyone. Starting with the digital e-learning
platform, D2L’s technology is now widely used in the healthcare, government, and
enterprise sectors.
D2L has developed a learning management system, Brightspace, which provides

solutions to topics such as competency-based education and analytics. The
company’s solutions incorporate the latest technologies from time-to-time in the K-
12, higher education, and enterprise fields. It has its offices in Canada, the US,
Europe, Australia, Brazil, and Singapore.
Table 56 Desire2Learn: Major Product Offerings
› Learning Environment
E-learning
Platforms
› Learning Repository
› ePortfolio

E-LEARNING MARKET
25.5 EDMODO
Edmodo is an educational technology company that offers e-learning solutions and

was founded in Chicago, US, in 2008. The company offers communication,
cooperation, and coaching tools to schools and teachers. Edmodo is famous for its e-
learning network, which enables teachers to share content and manage
communication with learners. Its learning management system is a one-stop solution
to the content sharing and interaction between teachers, students, colleagues, and
parents.
Table 57 Desire2Learn: Major Product Offerings
› Edmodo Web – a K12 network › Edmodo Mobile – An

that helps teachers to build a application in conjunction with
bond with students for better BYOD trend
training purposes › Edmodo Management – A
› Edmodo Snapshot secure, customized domain that
automatically connects the
E-learning › Edmodo for Parents – a solution whole of the school community
for engagement of parents in
Platforms
the thread for better interaction › Edmodo Insights – A real-time
purposes analytics solution that measures
student activity and
› Edmodo Spotlight – Interaction engagement
between educators for better
outcomes › Edmodo PD Tools – A tool that
connects educators for better
collaboration
25.6 SKILLSOFT
Skillsoft is a US-based education technology company that develops content and

software of learning management systems. Founded in 1989 as SmartForce, SkillSoft
is now a global supplier of high-quality, cloud-based learning solutions and
performance resources.

E-LEARNING MARKET
The e-learning library of SkillSoft consists of over 7,000 courses, 65,000 videos, and
46,000 books. Its product portfolio consists of the following:
› Business and Leadership Skills
› Digital Skills
› IT Skills and Certification
› Compliance
› Content Delivery Platforms
Headquartered in the US, SkillSoft operates in over 160 countries and 29 different
languages. The company also offers e-learning solutions through its subsidiary,
SumTotal Systems.
Table 58 SkillSoft: Major Product Offerings
› Percipio
› Percipio ELSA
E-learning › Percipio Compliance
Platforms
› Percipio Experience Services
› SumTotal Learning
Management
25.7 CENGAGE LEARNING

Cengage Learning is a leading provider of innovative teaching, learning, and

research solutions for the academic, professional, and library market worldwide.
Founded in 2007 as Thomas Learning, Cengage is headquartered in Boston, US.
Cengage Learning offers print and digital textbooks, instructor supplements, online
reference databases, distance learning courses, test preparation materials, corporate
training courses, career assessment tools, materials for specific academic disciplines,
and custom solutions.

E-LEARNING MARKET
Its product portfolio includes the following e-learning solutions:
› Academic and Professional
› Test Prep
› English Language Teaching
› Library Reference
Headquartered in Boston, US, Cengage operates across the world with a workforce
of over 5,500.
Table 59 Cengage: Major Product Offerings
› CourseMate
E-learning › MindTap
Platforms
› Aplia
› Course360
25.8 MACMILLAN
Macmillan Education is the division of Holtzbrinck Publishing Group and is based

in the UK. Holtzbrinck is one of the world’s largest leading media companies and
has three global divisions:
› Macmillan Publishers
› Macmillan Science and Education
› Holtzbrinck Digital, Information, and Services
Macmillan Education launched its digital education platform in 2012 that primarily
focuses on English language skills and science. Headquartered in London, UK,
Macmillan operates in over 40 countries across the world.

E-LEARNING MARKET
Table 60 Macmillan: Major Product Offerings
› Macmillan Education eBooks
› Macmillan English Campus

E-learning › Macmillan English Dictionary
Platforms Online
› Onestopenglish.com
› Macmillan Education Apps

25.9 CORNERSTONE ONDEMAND

Cornerstone OnDemand Inc. (CSOD) is a cloud-based learning and talent

management solutions provider founded as CyberU in 1999 and headquartered in
California, US. It is an innovator in the cloud technology providing its services to
various corporates and other organizations. The company now delivers its SaaS
modules to various corporates, hotels and resorts, government agencies, schools, and
hospitals.
It primarily helps companies recruit, train, and manage their employees. Its SaaS
program helps companies reduce their IT maintenance costs, hassle-free software
usage in any device. Its LMS provides training programs for students and corporates
and includes talent management applications. Its services include the following:
› Support Packages
› Client Success Framework
› Content and Implementation Services
› Technical and Business Consulting
› LMS– Cornerstone University and Cornerstone Edge
The company operates a wide range of industries such as healthcare, hospitality,

government, education facilities, and business services. Its most prolific clientele
includes the following:

E-LEARNING MARKET
› TGI FRIDAYS
› New Belgium Brewing
› Virgin Media
› Walgreens
› PENNSTATE HERSHEY Medical Center
› Commonwealth Bank
› Hyatt
› Carilion Clinic
Based in the US, it operates in over 192 countries in 42 languages, and its software
services are used by over 29 million users worldwide.
Table 61 Cornerstone Ondemand: Major Product Offerings
› Cornerstone Recruiting
E-learning › Cornerstone Learning

Platforms
› Cornerstone Performance
› Cornerstone HR
25.10 EDUCOMP
Educomp is a digital education company founded in 1994 and is based in India. This
company covers the whole of the educational ecosystem from pre-school to
competitive exam courses. It started as a business of setting up and maintenance of
computer labs in private and government schools and later went on to launch a
digital platform, eCampus, in 1998 and PlanetVidya.com, an educational portal, in
1999. These online platforms were the start of a new phase in the Indian educational
system.

E-LEARNING MARKET
One of its solutions, Educomp SmartClass, which is a teacher-led education content

program, is highly adopted by most private schools in India. Educomp works with
the K-12 digital content library and provides 3D multimedia educational content to
its network. The company classifies its chain of end-users into the following sections:
› Little Millennium – Its pre-school network, which has over 350 centers
› Brick and Mortar – Its K-12 chain, which has over 45 schools
› 63 Test Prep centers
Educomp partners with the Indian government and provides digital education
solutions to the government schools in the country. Headquartered in Gurgaon,
India, the company has its offices across 23 states in India, two in the US, and one in
Singapore, with over 30 million learners across the world.
Table 62 Educomp: Major Product Offerings
› MathGuru
› Educomp SmartClass
› EduLearn
› English Mentor
› WizLearn
› 3D Lab
› Pave
› Educomp Insight
› Singapore Learning
E-learning › Educomp Smart School
› Aha! Math
Platforms
› League India
› EasyTech
› Uniclass
› Aha! Science
› SmartClass Pro
› TechLiteracy Assessment
› SmartStem
› Uniclass
› Genius Box
› Vidya Mandir Classes

E-LEARNING MARKET
25.11 KROTON
Kroton, founded in 1966 and headquartered in Brazil, is a private online education

company. The company started with partnering with schools to offer educational
materials and courses for primary and secondary education. It also offers courses for
technical education, courses of government service and jobs, financial services to
students, teaching software, and management software to institutes.
Kroton offers its products and services in the following segments:
› Primary and Secondary Education: This segment offers digital and physical books,
training to the faculty, and testing portals through its learning systems in private schools.
› On-campus Education: This section provides learning systems for post-secondary

students. Kroton offers its on-campus education systems in 88 cities and 128 institutes.
› Distance Learning: This segment offers distance learning programs at the post-secondary
level. Distance learning provides students with affordable course fees and has thus seen
an increasing number of enrollments in such programs. Kroton operates 1,210 MEC
accredited distance learning centers.
Kroton has also launched an installment portal, which allows students to pay for their
monthly tuitions in installments. This measure was carried out to reduce the number
of bad debts. Kroton is the leading e-learning provider in Brazil. The company has
operations in 88 cities of 19 states in Brazil. It manages 128 higher secondary
campuses, 2.27 thousand primary and secondary students, 9.97 thousand post-
secondary students, and 1,210 centers for distance learning. The major e-learning
brands of the company are as follows:
› Anhanguera
› Fama
› Pitagoras
› Unic
› Uniderp
› Unime

E-LEARNING MARKET
Table 63 Kroton: Major Product Offerings
› K12
 Publishing
 Learning Systems
 Teacher Training
 Evaluation
E-learning
 Online Monitoring
Platforms
› Higher Education
 Public Service Exams
› Language
 Red Balloon
 Anglo 21Uniclass
25.12 TELEFONICA
Telefonica, incorporated in 1924 and headquartered in Spain, is a

telecommunications company. It has more than 340 million active users and has
operations in over 17 countries and presence in over 24 countries. In 2018, the
company had a workforce of 122,718 employees.
The company operates through the following segments:
› Mobile: This segment deals with mobile communications to individual and corporate
customers. Mobile-related services include voice calls and related services, VAS, mobile
data, and conference calling. This segment also deals with establishing mobile
infrastructure incorporates, roaming services, and paging services throughout Latin
America.
› Fixed-line: This segment deals with fixed telephones line, broadband internet services,
and services to telecom operators. This segment also deals with services such as VPN,
PSTN lines, ISDN, ADSL, FTTH, and VDSL. Through this segment, the company also

E-LEARNING MARKET
offers VoIP services in several Latin American countries. The company also engages in
the rental of fixed lines and network to other telecom operators.
› Digital Services: This segment offers an array of digital services to customers, including
video, IoT, payment gateways, cloud computing, advertising, network security, and
digital advertising. This segment also deals with digital content through Telefonica brand
Movistar
Telefonica is also keen on investments in its R&D capabilities and invested over $1
billion in 2017 and 2018. The company also has 643 patents to its name and has
accelerated close to 1,700 start-ups in the fields of technology and online learning.
Telefonica is one of the leading providers of e-learning systems, platforms, and

portals in Latin America. The company offers portals for online learning and systems
to improve and implement pedagogy methods, training to teachers, and language
learning. Through its digital education vertical, it is active in the following e-learning
segments:
› K12
› Vocational Training
› Corporate
Table 64 Telefonica: Major Product Offerings
E-learning › Miriadax › Siele

Platforms
› Scolartic › Stembyme
25.13 INSTRUCTURE
Instructure, founded in 2008 and headquartered in the US, is one of the most
renowned companies spreading its roots in the field of online education. It is known
as a functional and the most active educational technology company.

E-LEARNING MARKET
The company develops the Canvas learning management system, which is a

comprehensive cloud-native software package that holds the background of
Instructure. It is majorly a learning technology company that has been the creator of
the most functional Canvas learning management system used for the education
system of K-12 and higher education. Its network offers several free online courses
and classes from across the world's leading universities. It is a service that helps in
replacing the paper form and process by the efficient education-based mobile
business applications and forms that save both money and time.
Table 65 Instructure: Major Product Offerings
› Canvas LMS
E-learning › Arc
› Bridge
Platforms
› Gauge
› Canvas Network
25.14 EDX
edX was founded in May 2012 by collaborative work of Massachusetts Institute of

Technology and Harvard University. The company hosts a number of online
university-level courses in a wide range of disciplines. Giving access to the
worldwide student body it offers many of the courses free of cost. About 14 million
users joined the educational body in December 2018.
Working under the umbrella of Massachusetts Institute of Technology and Harvard

University, edX works as a non-profit and open-source enterprise that provides free
online courses for universities across the world. Some of the private companies also
use Open edX for providing training to the target populations. edX is a major
provider of flexible purchase options, including bulk purchase and LMS integration.

E-LEARNING MARKET
Table 66 eDX: Major Product Offerings
Particulars Product Offerings
› Self-paced › Vocational
E-learning
Platforms
› LMS › Corporate
› Academics › Free Courses

25.15 ENGLISH ATTACK

English Attack was found in 2009 and is headquartered in Paris, Italy. It is an online
English language learning resource that was designed with the motive to engage the
current digital generation of the aspiring English language learners. It works in a
combination pattern of the related exercises based on the short-format video clips out
of the latest films, music video, TV series, and documentaries holding visual
dictionaries.
The company offers its service in about 27 different interface languages. It works on
an innovative pedagogy toward creating an authentic world of authentic English
learning. The platform has been created, keeping in mind the needs of teachers,
schools, universities, and several companies willing to train their staff for the English
language. The platform already witnesses over one million people enrolled with
them for gaining the most interactive English learning.
Table 67 English Attack: Major Product Offerings
E-learning › English Language Learning

Platforms Platforms

E-LEARNING MARKET
25.16 ESTACIO
Estacio is a privately held educational company that aims at working with

universities across the world. Founded in 1970 in Brazil, the company was
established with a motive of creating an innovative pedagogical project for education
on a wide scale. The company soon achieved its aims within a brief time, and the
course became a teaching model in the entire area of Law in Brazil.
It is a well-known player in the higher education sector in Brazil as per the number
of students enrolled and revenues earned after Kroton. It is known to be Brazil's
second largest university with over 311,900 students across 57 campuses around the
country.
Table 68 Estacio: Major Product Offerings
› High School
E-learning
› Post-Graduation & Higher
Education
Platforms
› Corporate
› Free Courses
25.17 COURSERA
Coursera was founded in 2012 by computer science professors of Stanford

University. the company, with the help of over 150 partner universities, offers more
than 2,700 courses and four degrees in higher education. It has online education
content, which includes subjects of more than 250 specializations, including
language, science, arts, commerce, and e-governance.

E-LEARNING MARKET
Coursera ventured in Latin America in 2014 and now offers over 100 courses in
English and Spanish to cater to Spanish-speaking users. The company also provides
MOOCs over Android and iOS applications.
Table 69 Coursera: Major Product Offerings
› Academics
E-learning › Language Learning
Platforms
› Personal Development
› Corporates
25.18 LATTITUDE
Founded in 2009, Latitude has been a multi-vertical service offering body since then.
The company is an HR consulting firm with its headquarters in the US. It has been
known to offer a wide range of consulting services across industries, including
technology, engineering, scientific, and communications both in the public and
private sectors. The company offers a range of skilled professional training to
employees. It offers LatitudE-Learning LMS for corporates and has also launched its
website, a cloud version of the LMS for some of its clients. In 2018, over 3 million
business users were trained on the company’s LMS.
Table 70 Lattitude: Major Product Offerings
E-learning › Enterprise LMS › LatitudE-Learning Tools

Platforms
› Industry Solutions › LMS Customization

E-LEARNING MARKET
25.19 LITMOS
Litmos is known as the e-learning SAAS/Cloud platform for e-learning that operates
LMS. It is based in Silicon Valley, CA, US, with the idea of creating an LMS that could
be quickly set up, easy to manage, and easy to use.
The company is currently used for processes such as employee training, customer
training, channel training, and compliance training. In addition to the individual
user's tracks, groups and teams can also be set up under this platform to track
performance. Administrators of the software can easily schedule and track the
registration and attendance for live training or offering any online courses. A variety
of rich media content can be easily uploaded to Litmos, which includes flash, video,
PowerPoint, audio to support learner uploads (assignments), course discussion
boards, and gamification over iOS and Android mobile applications.
Table 71 Litmos: Major Product Offerings
E-learning
Platforms
› LMS › Off the Shell Content
25.20 OPEN ENGLISH

Open English, founded in 2007 and headquartered in the US, works as an online
English school. The company offers a number of online English support functions
such as live sessions, study advisors, personalized interactive content, progress
reports, and several other tools for online English education. In 2014, the school had
already enrolled around 100,000 students in the Spanish speaking world. It has been
highly recognized as a well-established “Education Technology” company that
focuses on English language learning across Latin American and the US. The

E-LEARNING MARKET
company was co-founded in Venezuela in September 2006, which later moved to

Miami, Florida, in 2009. The other subsidiary of the brand is Next University Inc.
Table 72 Open English: Major Product Offerings
E-learning › Language Learning Courses for

Adults, Children, and
Platforms
Corporates
25.21 VEDUCA
Veduca was founded in March 2012 by Carlos Souza, Eduardo Zancul, Marcelo
Mejlachowicz, and Andre Tachian. The company was founded with the purpose of
democratization of the top-quality education system in Brazil using an innovative
way of using video-lectures from across the world-class universities. It is one of its
agencies supporting all sorts of the online education system. Veduca is an online
Brazilian education platform that believes in transforming the education system and
making high-quality content that is produced and distributed in a pretty sustainable
and collaborative way.
The company’s educational solutions are simple, affordable, and informative. It

offers such solutions that support an overall education system regardless of the
physical barrier. This online platform was completely re-launched in December 2016.
Since then, it has added over 500,000 new students, offering them access to the
content for free and choose a certificate.
Table 73 Veduca: Major Product Offerings
E-learning › Courses for Corporates

Platforms  People Management

E-LEARNING MARKET
 Project Management
 Pounds
› Leadership
25.22 LINKEDIN (MICROSOFT)

LinkedIn, founded in 2003 and headquartered in the US, is a provider of recruitment

solutions, sales advertising, and a social platform for working professionals as well
as job seeking prospects. The company was acquired by Microsoft Corporation in
2016.
LinkedIn ventured into e-learning through its acquisition of Lynda.com, an open

online course website serving primarily the corporate sector in 2015. The company
now offers its e-learning solutions under the subsidiary brand LinkedIn Learning.
The company offers over 13,000 courses from LinkedIn and Lynda.com, which are
prepared and presented by industry veterans and experts.
Table 74 LinkedIn: Major Product Offerings
› Corporates
E-learning Platforms
› Government
› Libraries
25.23 SIMPLILEARN
The company was founded in 2009 and is based in the US. The company started with
blogs and shared ideas related to project management and offered tips and
information to aspirants of project management courses and certifications. The

E-LEARNING MARKET
company soon launched blended learning content for PMP certifications in 2010. In
the following year, the company added five additional categories to its PMP learning.
Currently, the company offers online learning and training in several disciplines,
including cloud computing, cyber security, project management, data science, and
digital marketing. In 2018, the company offered over 400 courses and had over 40
accreditations worldwide.
Table 75 SimpliLearn: Major Product Offerings
E-learning › Higher Education

Platforms
› Corporate Training
25.24 THINK AND LEARN (BYJU’S)

The company, based in India, was founded in 2011. It started with a focus on the K-
12 segment and worked along with experts from the media, content, and technology
sectors to create international caliber learning material. The company primarily offers
its products on the mobile application called BYJU’S The Learning App. The
company has partnered with a top celebrity from the Indian movie industry to
promote its applications among students and parents. In 2018, the company offers e-
learning courses for K-12 segment and competitive exams.
Table 76 Think and Learn: Major Product Offerings
› K-12
E-learning Platforms › Higher Education
› Competitive Exams

E-LEARNING MARKET
25.25 SWEETRUSH
The company was founded in 2001 and is based in the US. Initially, the company
started with web development and strategic marketing consulting as prime offerings.
It then branched into offering solutions related to performance improvement and
development of communication and learning solutions. In 2018, the company
operated in the field of consulting services and the development of customized
content.
Table 77 SweetRush: Major Product Offerings
E-learning
Platforms
› Corporate E-learning Solutions
25.26 UPGRAD
upGrad, the India-based digital education company, was founded in 2015. The
company offers online training and testing education materials as well as
certifications in several professional courses that are aimed to improve the skillsets
of working as well as job-seeking candidates. It has partnered with several education
and online universities as well as industry partners to offers learning materials online
for higher education and corporate segments.
Table 78 upGrad: Major Product Offerings
E-learning › Higher Education

Platforms
› Data Science

E-LEARNING MARKET
› Management
› Technology
25.27 LEQUEST
LeQuest, based in the Netherlands, is engaged in offering learning and training

solutions for healthcare professionals to improve their understanding and operating
of medical technology and equipment. The company offers a full package of e-
learning solutions, including defining learning goals, using equipment, certifications,
renewing certificates, as well as design, validation, and roll out of e-learning modules
and solutions.
Table 79 LeQuest: Major Product Offerings
› Customized and Guided

Simulation
E-learning
Platforms
› Training and Certification
› Collaboration with Hospitals

and Manufacturers
25.28 FUTURELEARN
FutureLearn, a private ed-tech company, is collectively owned by the SEEK Group

and the Open University. The company launched its first online courses in 2013 and
since has over a million users that have used its e-learning platforms.

E-LEARNING MARKET
Table 80 FutureLearn: Major Product Offerings
› Short Courses
E-learning
Platforms
› In-depth Programs
› Online Degrees
25.29 LEARN2PLAY
The company was founded in 2016 in Russia and is engaged in offering e-learning
material for gamers to improve their skills. It garnered investments of $2 million from
Microsoft in 2018 and in the same year, it launched its platform in several new
languages, including English, Russian, Chinese, and Spanish. By May 2018, the
company was producing over 100 videos in four languages and had over 100,000
users by June 2018. The company also offers AI-based analysis of several games to its
users. In December 2018, the company had over 1.7 million users on its Moremmr
and More Legends platforms and the analysis of over 50 million matches. The
company also introduced a stem bot and offered item build recommendations for
Moremmr, its online platform for skill enhancement in several games.
Table 81 Learn2Play: Major Product Offerings
E-learning › Moremmr
Platforms
› More Legends

E-LEARNING MARKET
25.30 CHEGG
The company is engaged in offering digital education, course materials, and access
to online tutors and classes as well as e-books for rent or purchase. It offers e-learning
solutions in forms of straight-to-student platform. The company primarily offers e-
learning solutions for students covering the academics sector in the e-learning
industry. In 2018, the company had over 3.1 million subscribing students on its
platforms. In the same year, over 5.1 million consumers paid for the company’s
services and products. The company also acquired Germany-based company, Math
42, in 2017.
Table 82 Learn2Play: Major Product Offerings
› Chegg Services
 Chegg Study
 Chegg Writing
 Chegg Tutors
 Chegg Math Solver

E-learning  Other Services
Platforms
› Required Materials
 eTextbooks and Print Textbooks
 Supplemental Materials
 Textbook Buyback
› Technology and Platform

Integration
25.31 BRIGHT LITTLE LABS

The company, founded in 2014 and based in London, started with a program called
Detective Dot, a cartoon book emphasizing on improving technical and computer

E-LEARNING MARKET
skills among children. It also has an online program, which offers gamified learning
to coding and intelligence.
Table 83 Bright Little Labs: Major Product Offerings
E-learning › The Children’s Intelligence

Platforms Agency Chegg Study
25.32 AULA EDUCATION

The company offers education platforms in the digital environment where the
educators, teaching staff, and students can communicate with each other. Its
platforms are designed to encourage and increase collaboration and interaction
among learners and educators.
Table 84 Aula Education: Major Product Offerings
E-learning
Platforms
› Communication Platform
25.33 WHITEHAT SECURITY

The company was founded in 2001 and is headquartered in the US. The company
primarily engages in offering cloud services for corporates to close the gap between
development and security for delivery of secure applications. The main business
lines are DevSecOps, Web Application Security, Software Composition Analysis, and

E-LEARNING MARKET
e-learning content. Its e-learning solutions deals with explanation, development,

reinforcement, and assessment of coding practices. The company offers interactive
and self-paced learning sessions.
Table 85 Whitehat Security: Major Product Offerings
E-learning
Platforms
› WhiteHat eLearning
25.34 BLINKIST
The company was founded in 2012 and is engaged in offering concise learnings from
best-selling books for higher education and corporate professionals. It collaborates
with authors and book experts to convert the textbooks into powerful excerpts with
read time of 15 minutes or less. The company offers these insights on its mobile
application. The focus of the company is to offer learnings of books on online
mediums to enhance learning of all possible smartphone users.
The company has over 10 million users and offers insights in 15 minutes for over
3,000 titles.
Table 86 Blinkist: Major Product Offerings
E-learning
Platforms
› Online Book Insights

E-LEARNING MARKET
25.35 AVETI LEARNING

Aveti Learning, based in India, is engaged in providing e-learning solutions to

students in regional languages with the aim of improving overall education
standard, especially mathematics and science. The company’s flagship e-learning
program offers digital education to underprivileged students. The educational
content is offered in over 15 regional languages in form of personalized and project-
based e-learning content.
Table 87 Aveti Learning: Major Product Offerings
› Content
E-learning
Platforms
› Platform
› Implementation Services
25.36 AGE OF LEARNING

The company is engaged in the creation and distribution of e-learning content

primarily for K-12 students. It offers blended solutions of education practices,
insightful creativity, and innovative technologies to design and develop effective and
engaging educational experience for students. The company has several award-
winning education platforms for digital learning for children aged between 2 and 8
years.

E-LEARNING MARKET
Table 88 Age of Learning: Major Product Offerings
› ABCmouse.com Early Learning › ABCmouse for Schools
E-learning
Academy › ABCmouse for Community
Platforms
› ABCmouse English Learning Centers
Academy › ABCmouse Assessment Center
› ABCmouse for Teachers › Adventure Academy
25.37 LEARNETIC
Learnetic, founded in 2010 and headquartered in Poland, is a publisher of

educational software and provides e-learning technology solutions. The company
offers educational content, e-learning platforms, and content publishing tools that
are used by students, teachers, and publishers in over 30 countries, including the UK,
the US, Poland, Spain, Holland, Malaysia, Portugal, Australia, Chile, and Singapore,
among others.
Table 89 Learnetic: Major Product Offerings
› Platforms & Tools
 mAuthor: eDevelopment
› eContent Packages
Platform  mCurriculum – Math & Science
 mCourser: eLearning Platform  321 math! – Primary School

E-learning
Math
Platforms  mLibro: eLearning Off-line App
 ABC handwriting! – Primary
› Services
School Writing
 eContent Development Services
 mobiSkils – English Learning

E-LEARNING MARKET
25.38 ELEARN AUSTRALIA

The company was founded in 2004 and is engaged in design and development of
digital learning and training material for mobile and computer platforms. It
primarily serves small and medium-sized companies operating in the community
and healthcare sector. The company develops learning tools, digital content, and e-
learning strategies. It also offers services to integrate these offering into existing LMS
that the client has.
Table 90 Elearn Australia: Major Product Offerings
› Custom Content
› Cultural Awareness Content
E-learning › Mobile Solutions
› Moodle Content
Platforms
› Healthcare Training Material
› LMS
› Academics
25.39 360LEARNING
360Learning, a France-based company, was founded in 2010, and offers Learning

Engagement Platforms for corporates and working professionals. The company deals
with LMS, MOOC, social learning, engagement, learning organization, peer learning,
and authoring tools, among other offerings.
Table 91 360 Learning: Major Product Offerings
E-learning › Full LMS

› Mobile Learning
Platforms
› E-Learning Quick
› SPOC (Small Private Online
Course)

E-LEARNING MARKET
› MOOC (Massive Open Online

COOC (Corporate Open Online
Course)
Course)
› Social Learning
25.40 KHAN ACADEMY

Khan Academy offers practice exercises, instructional videos, and personalized e-

learning. The company provide e-learning courses on mathematics, science,
computer programming, history, art history, and other subjects. It has partnered with
institutions such as NASA, The Museum of Modern Art, The California Academy of
Sciences, and MIT to offer specialized content.
Table 92 Khan Academy: Major Product Offerings
› K-12
› Science & Engineering
E-learning › Computing
Platforms
› Arts & Humanities
› Economics & Finance
› Test Prep
25.41 UDEMY
Udemy is an US-based online learning platform, which offers learning courses for
professionals and students. The platform has more than 50 million students and
57,000 instructors teaching courses in over 65 languages. It has over 295 million
course enrollments, with students and instructors coming from over 190 countries
and more than 60% of the students located outside US. The company is
headquartered in San Francisco, California.

E-LEARNING MARKET
Table 93 Udemy: Major Product Offerings
› Development
› Business
› Finance & Accounting
› IT & Software
› Office Productivity
› Personal Development
E-learning
Platforms
› Design
› Marketing
› Lifestyle
› Photography
› Health & Fitness
› Music
› Teaching & Academics

25.42 SKILLSHARE
SkillShare is an US-based online learning community, which provides courses

focusing on interaction rather lecturing. The main categories are creative art, design,
entrepreneurship, technology and others. The company was founded in November
2010 and is headquartered in New York City, US.
Table 94 SkillShare: Major Product Offerings
E-learning › Animation
Platforms
› Design

E-LEARNING MARKET
› Illustration
› Lifestyle
› Photo & Film
› Business
› Writing
25.43 UDACITY
Udacity is a for-profit organization founded in June 2011. The company offers online
education courses to over 160,000 students across more than 190 countries. While
originally focused on offering university style courses, it now focuses on more
vocational courses for professionals.
Table 95 Udacity: Major Product Offerings
› Programming & Development
› Artificial Intelligence
› Cloud Computing
E-learning
Platforms
› Data Science
› Business
› Autonomous Systems
› Career

E-LEARNING MARKET
25.44 PLURALSIGHT INC.

Pluralsight is a US-based online education company that offers a variety of video

training courses for software developers, IT administrators, and creative
professionals through its website. The company was founded in 2004 and is
headquartered in Farmington, Utah. In July 2018, it used more than 1,400 subject-
matter experts and offered more than 6,500 courses in its catalog.
Table 96 PluralSight: Major Product Offerings
› Software Development
› IT Ops
E-learning › Data Professional

Platforms
› Information & Cybersecurity
› Architecture & Construction
› Business Professional
25.45 ALISON
ALISON is a free online education platform that mostly focuses on workplace-based

skills. The company was founded in Galway, Ireland on April 21, 2007. It has 14
million registered learners, 2 million graduates and 1,500 courses available for free
access in March 2020. Alison's learners have access to online courses, specializations,
and degrees in a variety of subjects published by various renowned universities and
organizations.

E-LEARNING MARKET
Table 97 Alison: Major Product Offerings
› Technology
› Language
› Science
› Health
E-learning
Platforms
› Humanities
› Business
› Math
› Marketing
› Lifestyle
25.46 BABBEL
Babbel is a German subscription-based language learning and e-learning platform,

available in various languages. The company was founded in January 2008.
Currently, it offers courses in fourteen languages, which include Dutch, Danish,
English, French, German, Indonesian, Italian, Norwegian, Polish, Brazilian
Portuguese, Russian, Swedish, Spanish, and Turkish.
Table 98 Babbel: Major Product Offerings
E-learning
Platforms
› Language Courses

E-LEARNING MARKET
25.47 TREEHOUSE
Treehouse is an online technology school that offers beginner to advanced courses in

web design, web development, mobile development and game development. The
company employees a team of expert teachers. Its courses are aimed at beginners
seeking to learn coding skills for a career in the tech industry. The company was
founded in 2011 and is headquartered in Portland Oregon, US.
Table 99 Treehouse: Major Product Offerings
› Web Development
E-learning › Java Script

Platforms
› Python
› PHP
25.48 UNACADEMY
Unacademy is the largest education platform in India. In a span of 6 months, over

300,000 students have benefited from over 2,400 online lessons and specialized
courses on cracking various competitive examinations on the platform. The company
have boarded some of the top educators in the country, including Kiran Bedi, India's
first woman IPS officer and the Governor of Pondicherry. With over 2 million views
every month, the company is able to expand to the remotest corners of the country.
Table 100 Treehouse: Major Product Offerings

E-LEARNING MARKET
› Web Development
E-learning › Java Script

Platforms
› Python
› PHP
25.49 DUOLINGO
Duolingo is a US-based e-learning platform that includes a language-learning

website and mobile application. The company uses the freemium model; the
application and the website are accessible without charge. It also offers a premium
service for a fee. In November 2019, the language-learning website and application
offer 94 different language courses in 23 languages. The application has over 300
million registered users across the world.
Table 101 Duolingo: Major Product Offerings
E-learning
Platforms
› Language

E-LEARNING MARKET
REPORT SUMMARY
E-LEARNING MARKET
26 REPORT SUMMARY
26.1 KEY TAKEAWAYS
› The scope of the e-learning market has been increasing on account of sweeping trends
witnessed in the past two decades in the corporate, academic, and educational sectors
due to globalization, talent migration, and consistent improvements in competencies and
individual talent grooming.
› Learning Management System (LMS), packaged content, and highly gamified

applications or serious games are the three major learning modes of e-learning. Packaged
content with a revenue share of 59% in 2018 constituted a major segment, followed by
LMS.
› New frontiers for growth for vendors will likely be m-learning, deployment of AR, and
the increased adoption of cloud infrastructure for hosting applications to derive
scalability.
› The growth in the internet and mobile & smartphone penetration is the fundamental
drivers the e-learning market. This has not only revolutionized the delivery mode of
content but also evolved the method by continuously improving bandwidths and
reducing data prices.
› With the rising internet and smartphone penetration, the demand for seamless
connectivity between electronic devices is also on the rise. Evolving cloud infrastructure
and low data prices driven by huge volumes are turned out to be major drivers in
strengthening connectivity as they eliminate several problems associated with cost,
scalability, security, and efficiency
› A majority of students shift to the US, Australia, the UK, and Canada for higher education
as these countries host some of the most prominent centers for academic innovation and
exciting professional opportunities. Due to lack of ample cost-effective technology,
implementation skills in the US, Europe, and other developed countries and a high labor
cost in regional markets, many of corporations tend to outsource their work too low-labor
cost markets to improve their bottom-lines and strengthen their balance sheets.
› Digitization initiatives have gained importance across the world both in the government
and private sectors. Schools and governments are undertaking ambitious implementation
plans pertaining to online tutoring, digital content delivery, and conversion of existing
learning content into the digital format.

E-LEARNING MARKET
› Training and testing constitute a crucial aspect of any pedagogy. Training involves the
interaction of the user with the courseware or LMS systems and includes a wide variety
of audio and video content that can be streamed or stored as per the learner’s
requirement.
› Testing, on the other hand, involves those resources that are meant to gauge the level of
proficiency attained by the learner through professionally organized or administered,
time-bound tests.
› The corporate e-learning market, which generated $42.98 billion in revenues in 2018, is a
major market driven by an increased emphasis on talent upgrading and retention. Also,
globalization is mandating a different set of functional and language skills for the critical
workforce as companies expand their business presence across geographies.
› Exchange programs and student exodus in search of academic pursuit to universities

across the world is propelling the demand for functional e-learning modules and driving
the demand for language learning courses and English proficiency testing services.
› Vendors must keep a continuous track of pricing of new entrants; while price-based
competition is not recommended, attractive prices can well detract buyers, and the same
must be effectively mitigated with innovation and product development. Achieving scale
is another challenge that can be addressed only by gaining a reasonable degree of
popularity.
› Over the past few years, there has been a consistent rise in price-based competition
among vendors with the advent of small and medium-scale players that are able to
efficiently optimize their cost structures, especially through crowdsourcing the content
or co-creating the same with an engaged audience.
› Dearth of adequate trainers’ faculties both in terms of quality and quantity is a major
market challenge. While countries such as India, China, and Indonesia represent a
significant potential market in terms of learners, there is a shortage of qualified and
certified instructors, thus warranting the need for platforms that can facilitate the broader
reach of the curriculum.
› Skill development is a major focus area for governments with the long-term
implementation of continuous e-learning programs supplemented by instructor-led
models found to be effective. Ensuring the workforce’s skill upgrading and better
productivity will help countries build medium to long-term business competitiveness.

E-LEARNING MARKET
27 QUANTITATIVE SUMMARY
27.1 MARKET BY GEOGRAPHY
Table 102 Global E-learning Market by Geography 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
APAC 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
EUROPE 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
LATIN AMERICA 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
MIDDLE EAST & AFRICA 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
TOTAL 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton
27.2 DELIVERY MODE
Table 103 Global E-learning Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
PACKAGED CONTENT 92.40 108.57 124.04 135.73 146.53 157.05 167.58 10.43%
LMS 39.47 50.16 62.18 73.98 87.10 102.03 119.01 20.19%
OTHERS 24.81 30.41 36.29 41.44 46.79 52.52 58.69 15.43%
TOTAL 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton
27.2.1 Packaged Content
Table 104 Global Packaged Content Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 45.28 52.62 59.00 63.44 67.04 70.07 73.39 8.38%
APAC 28.25 34.03 40.26 45.96 51.46 57.05 62.05 14.01%
EUROPE 14.07 16.40 18.56 19.62 20.86 22.25 23.90 9.23%
LATIN AMERICA 3.06 3.57 4.06 4.39 4.68 4.97 5.25 9.42%
TOTAL 92.40 108.57 124.04 135.73 146.53 157.05 167.58 10.43%
Source: Arizton

E-LEARNING MARKET
27.2.2 LMS
Table 105 Global LMS Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 16.18 20.58 25.27 29.74 34.41 39.38 45.16 18.66%
APAC 12.85 17.26 22.79 29.02 36.25 44.84 54.41 27.20%
EUROPE 8.31 9.76 11.14 11.87 12.72 13.68 14.81 10.11%
LATIN AMERICA 1.66 1.95 2.24 2.44 2.62 2.81 3.00 10.44%
TOTAL 39.47 50.16 62.18 73.98 87.10 102.03 119.01 20.19%
Source: Arizton
27.2.3 Others
Table 106 Global Other Delivery Modes Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 9.76 11.87 13.94 15.69 17.36 19.00 20.84 13.48%
APAC 7.86 10.00 12.50 15.08 17.84 20.90 24.02 20.46%
EUROPE 5.76 6.82 7.84 8.42 9.09 9.85 10.75 10.97%
LATIN AMERICA 1.01 1.20 1.40 1.54 1.68 1.82 1.97 11.78%
TOTAL 24.81 30.41 36.29 41.44 46.79 52.52 58.69 15.43%
Source: Arizton

E-LEARNING MARKET
27.3 LEARNING MODE
Table 107 Global E-learning Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 94.44 114.69 135.45 153.15 171.15 190.15 210.82 14.32%
INSTRUCTOR-LED 62.24 74.44 87.05 98.01 109.27 121.46 134.46 13.70%
TOTAL 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton
27.3.1 Self-paced
Table 108 Global Self-paced Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 46.85 57.02 67.01 75.58 83.87 92.13 101.53 13.76%
APAC 24.91 30.79 37.48 44.11 51.03 58.59 66.14 17.68%
EUROPE 19.15 22.64 25.99 27.87 30.05 32.50 35.40 10.79%
LATIN AMERICA 2.48 2.95 3.42 3.77 4.09 4.43 4.77 11.53%
TOTAL 94.44 114.69 135.45 153.15 171.15 190.15 210.82 14.32%
Source: Arizton
27.3.2 Instructor-led
Table 109 Global Instructor-led Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 24.37 28.06 31.20 33.29 34.95 36.32 37.87 7.63%
APAC 24.05 30.50 38.07 45.95 54.52 64.20 74.33 20.69%
EUROPE 9.00 10.34 11.55 12.04 12.62 13.28 14.06 7.73%
LATIN AMERICA 3.24 3.77 4.28 4.61 4.89 5.17 5.45 9.03%
TOTAL 62.24 74.44 87.05 98.01 109.27 121.46 134.46 13.70%
Source: Arizton

E-LEARNING MARKET
27.4 FUNCTION TYPE
Table 110 Global E-learning Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 113.23 135.42 157.89 176.65 195.45 215.22 236.13 13.03%
TESTING 43.45 53.72 64.62 74.51 84.97 96.39 109.15 16.59%
TOTAL 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton
27.4.1 Training
Table 111 Global Training Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 48.95 57.74 65.78 71.96 77.45 82.56 88.30 10.33%
APAC 37.71 46.83 57.25 67.67 78.63 90.64 102.77 18.18%
EUROPE 19.86 23.05 25.97 27.33 28.91 30.68 32.79 8.72%
LATIN AMERICA 4.57 5.35 6.11 6.63 7.08 7.55 8.01 9.80%
TOTAL 113.23 135.42 157.89 176.65 195.45 215.22 236.13 13.03%
Source: Arizton
27.4.2 Testing
Table 112 Global Testing Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 22.26 27.34 32.42 36.92 41.36 45.89 51.10 14.85%
APAC 11.25 14.46 18.30 22.39 26.93 32.14 37.71 22.34%
EUROPE 8.28 9.93 11.57 12.58 13.76 15.09 16.68 12.37%
LATIN AMERICA 1.15 1.37 1.59 1.75 1.89 2.05 2.21 11.47%
TOTAL 43.45 53.72 64.62 74.51 84.97 96.39 109.15 16.59%
Source: Arizton

E-LEARNING MARKET
27.5 END-USERS
Table 113 Global E-learning Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 34.72 41.69 48.75 54.71 60.68 66.96 73.69 13.37%
HIGHER EDUCATION 38.36 45.57 52.78 58.67 64.45 70.44 76.67 12.24%
CORPORATE 47.41 58.77 71.01 82.28 94.32 107.59 122.32 17.11%
GOVERNMENT 19.91 23.40 26.77 29.34 31.79 34.25 36.81 10.79%
VOCATIONAL 16.29 19.70 23.19 26.16 29.18 32.36 35.79 14.02%
TOTAL 156.68 189.14 222.50 251.16 280.42 311.61 345.28 14.08%
Source: Arizton
27.5.1 Corporate
Table 114 Global Corporate E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 20.00 24.54 29.07 33.06 37.01 41.02 45.63 14.73%
APAC 15.42 19.84 25.14 30.79 37.05 44.23 51.92 22.43%
EUROPE 9.44 11.34 13.24 14.42 15.80 17.35 19.20 12.56%
LATIN AMERICA 1.62 1.94 2.27 2.53 2.77 3.02 3.29 12.52%
TOTAL 47.41 58.77 71.01 82.28 94.32 107.59 122.32 17.11%
Source: Arizton
27.5.2 Higher Education
Table 115 Global Higher Education E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 16.75 19.65 22.28 24.25 25.96 27.54 29.30 9.78%
APAC 13.07 16.07 19.45 22.74 26.14 29.80 33.41 16.93%
EUROPE 6.07 6.99 7.82 8.16 8.57 9.02 9.56 7.87%
LATIN AMERICA 1.66 1.93 2.19 2.36 2.51 2.65 2.79 9.03%
TOTAL 38.36 45.57 52.78 58.67 64.45 70.44 76.67 12.24%
Source: Arizton

E-LEARNING MARKET
27.5.3 K-12
Table 116 Global K-12 E-learning Market by Geography 2019−2025 ($ million)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 17.39 20.63 23.63 25.98 28.12 30.14 32.41 10.93%
APAC 10.00 12.54 15.48 18.46 21.64 25.17 28.77 19.25%
EUROPE 5.54 6.44 7.27 7.65 8.11 8.61 9.21 8.84%
LATIN AMERICA 1.35 1.58 1.81 1.97 2.11 2.25 2.40 10.06%
TOTAL 34.72 41.69 48.75 54.71 60.68 66.96 73.69 13.37%
Source: Arizton
27.5.4 Government
Table 117 Global Government E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 9.37 10.97 12.41 13.47 14.40 15.23 16.17 9.53%
APAC 5.58 6.74 8.02 9.23 10.43 11.69 12.88 14.96%
EUROPE 3.88 4.45 4.96 5.16 5.40 5.67 5.99 7.52%
LATIN AMERICA 0.78 0.89 1.00 1.06 1.10 1.15 1.19 7.37%
TOTAL 19.91 23.40 26.77 29.34 31.79 34.25 36.81 10.79%
Source: Arizton
27.5.5 Vocational
Table 118 Global Vocational E-learning Market by Geography 2019−2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
NORTH AMERICA 7.71 9.30 10.83 12.11 13.32 14.52 15.88 12.80%
APAC 4.89 6.09 7.47 8.84 10.30 11.89 13.50 18.44%
EUROPE 3.22 3.76 4.26 4.51 4.80 5.12 5.51 9.38%
LATIN AMERICA 0.32 0.37 0.42 0.46 0.49 0.52 0.55 9.85%
TOTAL 16.29 19.70 23.19 26.16 29.18 32.36 35.79 14.02%
Source: Arizton

E-LEARNING MARKET
27.6 NORTH AMERICA

27.6.1 Delivery Mode
Table 119 North America Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 16.18 20.58 25.27 29.74 34.41 39.38 45.16 18.66%
OTHERS 9.76 11.87 13.94 15.69 17.36 19.00 20.84 13.48%
TOTAL 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton
27.6.2 Learning Mode
Table 120 North America Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 46.85 57.02 67.01 75.58 83.87 92.13 101.53 13.76%
INSTRUCTOR-LED 24.37 28.06 31.20 33.29 34.95 36.32 37.87 7.63%
TOTAL 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton
27.6.3 Function Type
Table 121 North America Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 48.95 57.74 65.78 71.96 77.45 82.56 88.30 10.33%
TESTING 22.26 27.34 32.42 36.92 41.36 45.89 51.10 14.85%
TOTAL 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton

E-LEARNING MARKET
27.6.4 End-users
Table 122 North America Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 17.39 20.63 23.63 25.98 28.12 30.14 32.41 10.93%
CORPORATE 20.00 24.54 29.07 33.06 37.01 41.02 45.63 14.73%
GOVERNMENT 9.37 10.97 12.41 13.47 14.40 15.23 16.17 9.53%
VOCATIONAL 7.71 9.30 10.83 12.11 13.32 14.52 15.88 12.80%
TOTAL 71.22 85.08 98.20 108.88 118.81 128.45 139.40 11.84%
Source: Arizton
27.7 APAC
Table 123 APAC Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 12.85 17.26 22.79 29.02 36.25 44.84 54.41 27.20%
OTHERS 7.86 10.00 12.50 15.08 17.84 20.90 24.02 20.46%
TOTAL 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton
Table 124 APAC Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 24.91 30.79 37.48 44.11 51.03 58.59 66.14 17.68%
INSTRUCTOR-LED 24.05 30.50 38.07 45.95 54.52 64.20 74.33 20.69%
TOTAL 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton

E-LEARNING MARKET
Table 125 APAC Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 37.71 46.83 57.25 67.67 78.63 90.64 102.77 18.18%
TESTING 11.25 14.46 18.30 22.39 26.93 32.14 37.71 22.34%
TOTAL 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton
27.7.4 End-users
Table 126 APAC Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 10.00 12.54 15.48 18.46 21.64 25.17 28.77 19.25%
CORPORATE 15.42 19.84 25.14 30.79 37.05 44.23 51.92 22.43%
GOVERNMENT 5.58 6.74 8.02 9.23 10.43 11.69 12.88 14.96%
VOCATIONAL 4.89 6.09 7.47 8.84 10.30 11.89 13.50 18.44%
TOTAL 48.96 61.29 75.55 90.06 105.56 122.78 140.48 19.20%
Source: Arizton
27.8 EUROPE
Table 127 Europe Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 8.31 9.76 11.14 11.87 12.72 13.68 14.81 10.11%
OTHERS 5.76 6.82 7.84 8.42 9.09 9.85 10.75 10.97%
TOTAL 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton

E-LEARNING MARKET
Table 128 Europe Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 19.15 22.64 25.99 27.87 30.05 32.50 35.40 10.79%
INSTRUCTOR-LED 9.00 10.34 11.55 12.04 12.62 13.28 14.06 7.73%
TOTAL 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton
Table 129 Europe Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 19.86 23.05 25.97 27.33 28.91 30.68 32.79 8.72%
TESTING 8.28 9.93 11.57 12.58 13.76 15.09 16.68 12.37%
TOTAL 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton
27.8.4 End-users
Table 130 Europe Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 5.54 6.44 7.27 7.65 8.11 8.61 9.21 8.84%
CORPORATE 9.44 11.34 13.24 14.42 15.80 17.35 19.20 12.56%
GOVERNMENT 3.88 4.45 4.96 5.16 5.40 5.67 5.99 7.52%
VOCATIONAL 3.22 3.76 4.26 4.51 4.80 5.12 5.51 9.38%
TOTAL 28.14 32.98 37.54 39.91 42.67 45.77 49.47 9.86%
Source: Arizton

E-LEARNING MARKET
27.9 LATIN AMERICA

Table 131 Latin America Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 1.66 1.95 2.24 2.44 2.62 2.81 3.00 10.44%
OTHERS 1.01 1.20 1.40 1.54 1.68 1.82 1.97 11.78%
TOTAL 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton
Table 132 Latin America Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 2.48 2.95 3.42 3.77 4.09 4.43 4.77 11.53%
INSTRUCTOR-LED 3.24 3.77 4.28 4.61 4.89 5.17 5.45 9.03%
TOTAL 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton
Table 133 Latin America Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 4.57 5.35 6.11 6.63 7.08 7.55 8.01 9.80%
TESTING 1.15 1.37 1.59 1.75 1.89 2.05 2.21 11.47%
TOTAL 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton

E-LEARNING MARKET
27.9.4 End-users
Table 134 Latin America Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 1.35 1.58 1.81 1.97 2.11 2.25 2.40 10.06%
CORPORATE 1.62 1.94 2.27 2.53 2.77 3.02 3.29 12.52%
GOVERNMENT 0.78 0.89 1.00 1.06 1.10 1.15 1.19 7.37%
VOCATIONAL 0.32 0.37 0.42 0.46 0.49 0.52 0.55 9.85%
TOTAL 5.72 6.71 7.70 8.38 8.98 9.60 10.22 10.15%
Source: Arizton
27.10 MIDDLE EAST & AFRICA

Table 135 Middle East & Africa Market by Delivery Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
LMS 0.48 0.61 0.75 0.90 1.09 1.33 1.63 22.48%
OTHERS 0.43 0.51 0.61 0.70 0.81 0.95 1.11 17.41%
TOTAL 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton
Table 136 Middle East & Africa Market by Learning Mode 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
SELF-PACED 1.06 1.30 1.55 1.81 2.11 2.51 2.98 18.77%
INSTRUCTOR-LED 1.58 1.78 1.96 2.12 2.28 2.50 2.74 9.68%
TOTAL 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton

E-LEARNING MARKET
Table 137 Middle East & Africa Market by Function Type 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
TRAINING 2.13 2.46 2.77 3.05 3.38 3.79 4.26 12.23%
TESTING 0.50 0.62 0.74 0.87 1.02 1.22 1.46 19.36%
TOTAL 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton
27.10.4 End-users
Table 138 Middle East & Africa Market by End-users 2019–2025 ($ billion)
2019 2020 2021 2022 2023 2024 2025 CAGR
K-12 0.43 0.50 0.57 0.63 0.71 0.80 0.90 13.03%
CORPORATE 0.93 1.11 1.30 1.48 1.69 1.96 2.29 16.14%
GOVERNMENT 0.30 0.35 0.39 0.42 0.46 0.51 0.57 11.06%
VOCATIONAL 0.16 0.19 0.22 0.24 0.27 0.31 0.35 14.04%
TOTAL 2.64 3.07 3.51 3.92 4.40 5.01 5.72 13.78%
Source: Arizton

E-LEARNING MARKET
28 APPENDIX
28.1 ABBREVIATIONS
› ADSL - Asymmetric Digital Subscriber
› AI - Artificial Intelligence
› APAC - Asia Pacific
› AR - Augmented Reality
› B2B - Business-to-Business
› B2C - Business-to-Consumer
› FTTH - Fiber to the Home
› GDP - Gross Domestic Product
› GMAT - Graduate Management Admission Test
› GPS - Global Positioning System
› GRE - Graduate Record Examinations
› ICT - Information and Communications Technology
› IELTS - International English Language Testing System
› IRR - Internal Rate of Return
› ISDN - Integrated Services Digital Network
› LMS - Learning Management System
› MEA - Middle East and Africa
› MOOC - Massive Open Online Courses
› MoU - Memorandum of Understanding
› OECD - Organisation for Economic Co-operation and Development
› PMP - Project Management Professional
› PSTN - Public Switched Telephone Network
› ROI - Return on Investment
› SaaS - Software as a Service
› SAT - Scholastic Assessment Test

E-LEARNING MARKET
› TOEFL - Test of English as a Foreign Language
› UX - User Experience
› VDSL - Very High-Speed Digital Subscriber Line
› VoIP - Voice over Internet Protocol
› VPN - Virtual Private Network
› VR - Virtual Reality

E-LEARNING MARKET
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E-LEARNING MARKET
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GLOBAL OUTLOOK & FORECAST

5 REPORT ASSUMPTIONS & CAVEATS ............................................................................................................... 25

6 MARKET AT A GLANCE ........................................................................................................................................ 30

8 IMPACT OF COVID-19 ............................................................................................................................................ 56

9 MARKET OPPORTUNITIES & TRENDS ............................................................................................................ 61

10 MARKET GROWTH ENABLERS........................................................................................................................... 69

11 MARKET RESTRAINTS .......................................................................................................................................... 80

12 MARKET LANDSCAPE ........................................................................................................................................... 95

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12.2 MARKET SIZE & FORECAST............................................................................................................................................... 96

13 DELIVERY MODE ................................................................................................................................................... 103

14 LEARNING MODE ................................................................................................................................................. 114

15 FUNCTION ............................................................................................................................................................... 122

16 END-USERS .............................................................................................................................................................. 130

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16.5 K-12......................................................................................................................................................................................... 139

17 GEOGRAPHY ........................................................................................................................................................... 146

18 NORTH AMERICA ................................................................................................................................................. 151

19 APAC .......................................................................................................................................................................... 164

20 EUROPE ..................................................................................................................................................................... 186

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20.1.1 MARKET SIZE & FORECAST ............................................................................................................................ 187

21 LATIN AMERICA .................................................................................................................................................... 205

22 MIDDLE EAST & AFRICA .................................................................................................................................... 222

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22.6.1 GCC: MARKET SIZE & FORECAST .................................................................................................................. 231

23 COMPETITIVE LANDSCAPE .............................................................................................................................. 236

24 KEY COMPANY PROFILES .................................................................................................................................. 240

25 OTHER PROMINENT VENDORS....................................................................................................................... 253

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25.4 DESIRE2LEARN ................................................................................................................................................................... 255

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25.19.2 PRODUCT OFFERINGS ...................................................................................................................................... 269

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25.35.1 BUSINESS OVERVIEW ....................................................................................................................................... 279

26 REPORT SUMMARY .............................................................................................................................................. 290

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27 QUANTITATIVE SUMMARY .............................................................................................................................. 292

28 APPENDIX ................................................................................................................................................................ 305

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EXHIBIT 48 GLOBAL E-LEARNING MARKET BY END-USERS 2019–2025 .............................................................................................. 131

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EXHIBIT 97 E-LEARNING MARKET IN SOUTH AFRICA 2019–2025 ($ BILLION).................................................................................. 233

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TABLE 48 APOLLO EDUCATION GROUP: MAJOR PRODUCT OFFERINGS ...................................................................................... 241

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TABLE 97 ALISON: MAJOR PRODUCT OFFERINGS ................................................................................................................................ 286

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Top leadership having more

A rich repository of 12 countries

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This step involves identification of several

This phase includes a detailed evaluation

This process consists of gathering data,

This stage involves the validation of data

This is the final stage, which involves both

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To outline and forecast the e- To offer wide-ranging

To study market To examine the competitive

To predict the market To analyze key strengths,