Pune (IN), March 2021 - The revenue of the Asia Pacific eLearning market crossed US$35 billion in the year 2019 and is predicted to touch the US$90 billion mark till 2026, growing at 11% between the years 2020 and 2026 according to investigation done by Graphical Research.
The Asia Pacific eLearning market is slated to experience lucrative growth over the coming years owing to the rapidly increasing smartphone and internet penetration in the region. In fact, approximately nine out of ten people in South Korea own a smartphone. With over 95% internet penetration across the region, the eLearning industry is likely to gain considerable traction over the coming years.
Given the regional COVID-19 situation, mobile eLearning technology is expected to record significant momentum in the Asia Pacific region. Additionally, the growing adoption of portable gadgets like smartphones, laptops, and tablets is likely to further stimulate market demand. Corporate employees are turning to mobile learning services, as they can sign up to short, modularized courses on tablets or smartphones even during commutes.
The learning management systems (LMS) market will witness growth owing to the demand for improvised enterprise learning objectives. LMS is a software-based platform that enables delivery, measurement, and management of corporate eLearning programs. It is a fundamental component of an efficient learning strategy. Integration of cloud and AI technologies into LMS that enhance its capabilities will fuel the eLearning industry growth. Zoho offers an intuitive cloud based LMS that modernizes training across organizations. The presence of cloud technology providers such as Microsoft Corporation will support the development of high-quality cloud based LMS solutions.
The growing adoption of digital learning methods by the academic sector will provide growth opportunities to the eLearning market in Asia Pacific. Schools and universities are adopting online learning techniques to educate students to ensure student and trainer health during the ongoing pandemic by maintaining social distancing.
Several government initiatives boosting the region's internet infrastructure will also contribute to the adoption of eLearning by academic institutions. For instance, in 2019, the government in South Korea announced an expenditure of US$ 3.9 billion on technology sectors including 5G and AI in its 2020 budget.
This is essentially enabling them to save time spent on their employee training at the time of work hours. Moreover, it also allows the company to train a workforce that is globally distributed using a single unified digital platform.
Furthermore, an increasing number of SMEs across countries like India and South Korea will favourably outline the overall growth graph of high-quality eLearning and mobile learning solutions. Overall, the Asia Pacific eLearning market is slated to record an impressive CAGR of more than 11% over the projected time period.
Key players that are making substantial contribution towards the industry growth include Adobe Systems Inc.; Apollo Education Group; Citrix Education; Cisco Systems, Inc.; Microsoft Corporation; Meridian Knowledge Solutions; Skillsoft; Oracle Corporation; and SAP SE.