E-Learning Market Size Surpassed $315 Billion In 2021 And Projected To Hit 20% CAGR From 2022 To 2028

FinancialNewsMedia.com News Commentary

Palm Beach, FL, Aug. 23, 2022 /PRNewswire/ -- The COVID-19 pandemic has actually caused certain markets to thrive, in fact it had a positive impact on the e-learning industry revenue. The growing employee safety concerns have encouraged corporates to implement work-from-home practices to continue daily operational activities. This has created barriers for companies in terms of training, communication, monitoring progress, and upskilling, supporting the demand for e-learning platforms among large enterprises and SMEs. To cater to the growing demand, several companies are focusing on developing customized learning solutions. For instance, in April 2021, LinkedIn Corporation announced its plans for an online portal designed for enterprises to provide their staff with training videos & materials on subjects such as management strategy and machine learning. A report from Global Market Insights said that the E-Learning Market size surpassed USD 315 billion in 2021 and is projected to observe 20% CAGR from 2022 to 2028. The report said: "The rising internet penetration across the globe will drive the industry growth. The expanding telecom & broadband sector has increased the accessibility to economical internet connectivity plans. According to the International Telecommunication Union (ITU) in 2021, nearly 4.9 billion individuals used the internet globally compared to 4.1 billion in 2019.With the increasing number of internet users, more people will be able to access e-learning platforms for learning courses or completing degrees." Active Tech Companies in the markets today include: Amesite Inc. (NASDAQ:AMST), PowerSchool (NYSE:PWSC), Nerdy Inc. (NYSE:NRDY), Duolingo, Inc. (NASDAQ:DUOL), Coursera (NYSE:COUR).