Corporate eLearning Market Size in The US
The global eLearning market is on fire with the United States leading the way. The U.S. market is the most mature in the world, which accounts for its slower growth rate of a little over 4 percent annually, but it’s the country allocating the most money to eLearning. Corporate training, however, is the fastest segment of the eLearning market, and according to Forbes, Global Industry Analysts predicts the global e-Learning market will reach $107 billion in 2015.
Increased regulatory training mandated by state, local and federal governments account for part of the increase in eLearning, and the regulatory agencies’ ever-increasing appetite for issuing new regulations guarantees a steady stream of new course development. Slashed travel budgets have increased the webinar market, and eLearning has reduced the need for full-time instructors.
To remain competitive, today’s enterprises need to continually train employees (in addition to regulatory training), with employee training records managed through a CORPORATE LMS (Learning Management System). The 2013 LMS market in the United States surpassed $2.5 billion.
In addition to education and corporate eLearning, subscription sites are booming. While the market is maturing in the United States, venture capitalist experts see the field as crowded, which means that winners have yet to be firmly established, and when a field is crowded, mergers and acquisitions can’t be far behind. As Massive Open Online Courses (MOOC’s) providers mature, look for them to at least temporarily fill a gap in the corporate eLearning strategy, and perhaps for longer, especially if the idea of CORPORATE MOOC’S become more widespread.
Online learning has the ability to become the great equalizer in the school-to-work sphere as efforts such as the collaboration between HP and the National Association for Community College Entrepreneurship (NAACE) bring HP LIFE eLearning courses to rural and urban secondary and community-college classrooms. The courses teaches IT, business and entrepreneurship skills. Look for more corporate-education eLearning collaboration to prepare students for the workplace.