The number of companies using e-learning is increasing with each passing day. A study by Research and Markets predicts the global e-learning market will grow at a CAGR of 17.81% during the period 2016-2020.
Let us now look at a few interesting statistics about online learning.
1. Online courses help people learn fast
Today’s companies want their people to learn fast to meet the vagaries of a highly dynamic business environment, and e-learning is perfectly suited to meet this requirement.
A Brandon-Hall Study revealed learning online typically requires 40% to 60% less employee time than learning the same subject in a traditional classroom setting. For instance, when IBM implemented an e-learning program in their company, its employees learned five times more without increasing their time spent in training.
2. Micro e-learning modules facilitate better learning
Microlearning refers to the delivery of learning content in the form of “information morsels”. The content is divided into several small chunks, each about 10 minutes in duration. Each microlearning module is self-standing and addresses one learning objective comprehensively.
A survey by the BBC in 2003 revealed that micro online learning modules can improve understanding, retention, and application levels by at least 30%.
Short learning modules can be accessed very effectively on Smartphones and tablet PCs, and this makes microlearning the preferred choice of firms opting for mobile learning solutions.
3. E-learning is highly cost-effective
The primary reason e-learning must be used is that it reduces training costs drastically including instructor costs, travel and food expenses – making it a good cost-effective strategy overall.
In its annual whitepaper “The Value of Learning“, IBM claimed it was able to deliver five times the training at just one-third the cost. Dave Evans, a former Sales Executive at IBM stated the company saved an estimated $200 million after switching to e-learning.
4. The usage of Learning Management Systems (LMSs) is growing rapidly
Companies need to assign courses to their learners, track their progress and generate reports about the training programs, besides performing other learning management activities. An increasing number of companies are using Learning Management Systems (LMSs) to perform these tasks.
MarketsandMarkets reports that the LMS market size is expected to grow from USD 5.22 Billion in 2016 to USD 15.72 Billion by 2021, at a CAGR of 24.7%.
5. The demand for game-based learning is growing at a feverish pace
Game-based online courses make corporate training programs engaging and help people overcome the stress of learning.
The global revenues for game-based learning market reached $2.6 billion in 2016. The global five-year compound annual growth rate (CAGR) is a robust 22.4%. Revenues will surge to $7.3 billion by 2021.
6. Mobile learning adoption is growing by leaps and bounds
Mobile learning (or m-learning) allows learners access courses anywhere, anytime. Innovative mobile technologies such as HTML5 are playing a key role in harnessing the full learning potential of the mobile device.
According to MarketsandMarkets, the global mobile learning market is likely to grow from $7.98 billion in 2015 to $37.60 billion by 2020, registering a massive compound annual growth rate (CAGR) of 36.3%.
7. Video-based learning is the order of the day
Video-based learning is an essential component of eLearning. Videos go a long way in keeping learners engaged and help them connect instantly with the learning content. They are ideal for demonstrating products and imparting soft skills.
The Ambient Insight 2012-2017 Worldwide Mobile Learning Market reported that 98% of organizations are predicted to use video as part of their digital learning strategy by 2016.
8. E-learning is environment-friendly
The corporate world is looking for means to conduct its operations in an environmentally-sustainable manner, and the online learning format helps firms deliver training in an eco-friendly manner.
E-learning uses no paper, requires no travelling and uses fewer resources; you can save a lot of energy. Britain’s Open University’s study found that producing and providing e-learning courses consumes an average of 90% less energy and produces 85% fewer CO2 emissions per student than conventional face-to-face courses.
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