The size of the global e-learning market will increase by USD 147.7 billion between 2021-2025, accelerating at a CAGR of 16% during the forecast period. This growth in market size will be attributed to online learning becoming an integral part of corporate training and development as well as learning process enhancements in the academic sector. Factors such as an abundance of e-learning technologies, cost savings due to centralized content, time management, flexibility and convenience, and uniformity in content delivery have also helped trigger the deployment of e-learning for government programs and academic learning. As a result, the size of the e-learning market is anticipated to grow multi-fold in comparison to the conventional classroom learning market.
During the forecast period, numerous trends will emerge and positively impact the e-learning industry. These major trends include an increase in cloud computing solutions for the academic sector, the rise of Industry 4.0, and the increasing adoption of microlearning. Microlearning consists of learning by using bite-sized content. Since educational institutions and corporations increase their emphasis on personalization and adaptive learning, the concept of microlearning will have an increased prominence.
The size of the e-learning market in the US is expected to increase USD 21.64 billion between 2020-2024, accelerating at a CAGR of 12% during the forecast period. The emergence of e-learning courses and distance learning programs has provided the American population with easy access to education. The flexibility and functionality of e-learning courses will lead to the further evolution of the learning landscape in the US. In terms of e-learning products, the content segment dominates the US market, accounting for 59% of the market share, ahead of the technology and services segments.
The European e-learning market is expected to increase by $ 28.36 bn in market size over the next five years, accelerating at a CAGR of 13% by 2024. This growth in market size will be attributed to the growing emphasis on personalized learning. Personalized learning prioritizes the requirements of individual learners while developing the course curriculum and learning content. Leading market players such as Adobe Systems and Instructure provide tools for educational institutions to develop personalized learning systems for students, which are in line with the school's course curriculum. These learning systems also have data analytics software incorporated into the course content which allows for better monitoring and course feedback for students, parents, and teachers.
The e-learning market in GCC is projected to grow at a CAGR of 10% during 2020-2024, increasing more than USD 492.6 million by the end of the forecast period. E-learning in the GCC is gaining popularity due to its member countries aiming to bring world-class educational institutions in the region. E-learning in this region will be driven by countries like Saudi Arabia which holds the largest market share of more than 35%, and the UAE who owns the second largest share of the market at over 21%.
Within our e-learning market research, we provide deep insights into the market landscape, its segments, and their market share. Our e-learning market segmentation research offerings include:
We at Technavio, have developed a comprehensive portfolio of global e-learning industry reports, based on continuous monitoring of the latest e-learning industry trends and e-learning industry statistics. Our reports provide deep insights into this research field and offer the following: