According to a report by Global Industry Analysts Inc., “eLearning: A Global Strategic Business Report,” e-learning is on the rise, and demand for it is expected to exceed $52.6 billion by 2010 worldwide.
Additionally, the study said e-learning solutions are being incorporated in a large variety of informational and training applications at many corporations.
E-learning is now the method companies use second-most often to deploy learning and development, according to the study.
More and more products are available from various content, service and technology providers, but interoperability has been a challenge — the study said a lack of interoperable standards has the potential to stunt the growth, which might have started already.
The study also found the U.S. e-learning market is the world’s largest, as its 2007 revenues are expected to exceed $17.5 billion. Further, the U.S. corporate e-learning market share is more than 60 percent.
Europe’s share (less than 15 percent) is the second-largest.
The Japanese market is not as large, but because of globalization, Asia is predicted to experience a faster uptake — the study said its compound annual growth rate likely will range between 25 percent and 30 percent through 2010.
In regard to e-learning providers, the market is very fragmented, according to the study. It contains many key and niche players, and not all of them are online companies.
Additionally, there has been a great deal of consolidation within the e-learning solutions markets — the study found many smaller companies merge with or are acquired by larger ones in a effort to expand offerings and remain viable.
The Global Industry Analysts Inc. report also reviews trends and issues in the e-learning market, as well as drivers, challenges, standards, product development, etc.
It’s geared toward major geographic markets around the world, including Asia, Europe and the United States.