4 Reasons Lying Behind eLearning’s Popularity & Online Learning Statistics you Should Know
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eLearning is taking the educational world by storm, and it’s now transforming the way that lessons are being delivered. In fact, experts predict that the eLearning market will have grown to $325 billion by 2025.
With such statistics currently shuttering the internet, there’s no denying that eLearning is the future– and businesses that wish to offer the highest-quality training and education to their audience should not miss out.
In this article we’ll explore the compelling reasons lying behind eLearning’s growing popularity, alongside key online learning statistics that every business that’s considering investing in eLearning, from EdTech startups to corporate training providers, should know.
If you’re trying to gain a better understanding of what’s happening in this exciting market, why you should (definitely) care, and the number one way to make the most of your future course creation endeavours, this article is for you!
What’s eLearning?
eLearning, or otherwise simply known as online learning, involves the consumption of educational material via electronic means. Instead of creating learning experiences that take place under a traditional teaching setting, eLearning focuses on providing learners with the chance to go through the material at their own pace and from the comfort of their own space.
This form of learning is being leveraged by employers and educators alike. Online learning is an effective way of supplementing their employees or students’ current knowledge, which can ultimately have a positive impact on their work or academic performance.
The most popular ways in which online learning is being delivered in 2023
Online learning platforms
There are various online learning platforms that offer courses across a range of subjects nowadays, such as Coursera, edX, Udacity, Khan Academy, and Skillshare. For example, Udemy alone offers over 213,000+ courses covering a vast array of subjects ranging from programming and technology to arts and the humanities.
Although platforms like Skillshare are designed mostly for creative individuals who wish to acquire new skills such as video editing and photography, certain platforms like Coursera are affiliated with universities which deliver online educational content to their students.
These platforms make learning accessible to a large number of participants from different parts of the world. This addresses the significance in mitigating the educational and digital disparities that exist within and among countries on an international scale.
Learning Management Systems (LMS)
Many educational institutions, schools, colleges, and universities utilize Learning Management Systems like Moodle, Blackboard, Canvas, and Google Classroom to manage and deliver online learning content. These systems offer features for uploading course materials, assignments, quizzes and even facilitate electronic communication between students and instructors.
Just as educational institutions use LMS platforms to manage and deliver educational content, companies also use LMS for employee training and development. This includes onboarding new hires, providing ongoing skill development, compliance training, and more.
There are an estimated over 73.8 million individuals currently using LMS. Furthermore, it’s expected that the LMS market will hit the $29 billion mark by 2026.
4 major factors accounting for the popularity of eLearning
Why has there been such a notable upsurge in the popularity of eLearning? There are a few compelling reasons accounting for the shift from a traditional to a more online-based approach to learning and teaching. This includes:
1. The demand for upskilling and reskilling
In a world that’s constantly on the move thanks to the rise of technological innovation, people are being forced to adapt by developing new skillsets that can give them a competitive edge in the marketplace.
For example, it used to be the case that possessing a basic skill like manual data entry was sufficient for securing a position in a data-related role. However, with the rise of automation and digital advancements, the capability to gather, analyse, and deliver insights from data is now in much higher demand.
Students, employers, and entrepreneurs that wish to advance in their careers are embracing this rapid evolution and proactively acquiring the competencies necessary to keep up with these demands. Online learning platforms simply offer the most convenient and flexible way of learning skills in this way – which leads us to point number two.
2. The degree of convenience online courses offer
As we’ve highlighted already, learning through a course can be easily done anywhere, anytime. Learners can choose the time they wish to engage with the course based on their other life priorities and learn at their individual pace.
What’s more, with mobile usage being at an all-time-high (and mobile learning taking the number one spot in the eLearning arena), these courses can be accessed during times and at places that were inconceivable before.
Employees might access training courses during their lunch break at work, for example. Many learners even find themselves engaging with learning content through their mobile phones at nighttime, right before retiring for the night.
3. The personalization of the learning experience
Every learner is different; some prefer to learn at a slow and steady pace, while others like to cram their heads with as much knowledge and as quickly as they possibly can. Learners will also differ in how much they already know about the subject at hand.
eLearning platforms use advanced algorithms and data analytics to adapt the learning content to match the individual learner’s preferences and current level of knowledge and understanding.
For those who prefer a slower pace, for instance, the platform may offer a structured curriculum with well-explained concepts, ample examples, and opportunities for regular practice. It can also provide additional resources such as videos, interactive simulations, and quizzes to enhance the understanding of topics the student is struggling with.
On the other hand, for learners who thrive on intensive learning, the platform might provide accelerated courses, condensed materials, and quick assessments to keep their engagement levels high.
Furthermore, online learning platforms offer tools that enable learners to receive individual attention and more personalized feedback from their tutor. This isn’t realistic under traditional classroom settings, as tutors can’t be expected to attend to every learner individually.
Given the reasons outlined above, it’s no surprise why eLearning is believed to boost knowledge retention by up to 60%.
4. The cost-effectiveness of delivering learning materials online
Outside of the convenience and personalization that eLearning platforms offer to student and employees, another huge element that’s contributed to their popularity is that they’re simply cost-effective.
Creating and delivering courses doesn’t involve any printing, commuting, or physical infrastructure costs. As such, companies and educational institutions that invest in eLearning get to save a big chunk of their budget that would otherwise have to be spent on traditional lesson delivery and textbook purchases. In fact, eLearning implementation can drive cost savings of up to 70% for businesses.
As eLearning gained prominence, so did the demand for eLearning translation and localization
As highlighted above, online learning platforms provide course access to students from all over the world. Because of this, the surge in eLearning’s popularity has naturally given rise to a demand in eLearning translation services.
It’s no secret: learning in one’s native language is more effective compared to learning in a different language. It’s the language that comes most naturally to the person, after all, allowing them to absorb and retain more of the information acquired during instruction. This fact alone has incentivized businesses and institutions to explore the possibility of providing courses in their audience’s native languages.
However, there’s even more to the picture. 56.2% consumers report that obtaining information in their own language matters to them even more than the price of the product or service that they’re purchasing.
Instinctively then, eLearning localization can be worth its weight in gold as far as profitability is concerned – and employers/educators across the world have taken notice.
Are you ready to explore the possibilities that eLearning translation and localization have to offer to your business?
If you’re contemplating tapping into the eLearning market (Remember, it’s projected to grow to $325 billion by 2025!), investing in the translation and localization of your up-and-coming course is an excellent way for you to make the most of it.
Your course will already have the capacity to influence hundreds of individuals to develop further into their dream careers and compete fairly in the ever-demanding marketplace – so why not 10x its impact and reach people from all across the globe?
This isn’t to say it’ll be all fun and games. Executing your course’s localization flawlessly will require a carefully-crafted strategy, a ton of market research, and sound awareness of eLearning localization best practices. But don’t worry – we have an ultimate eLearning translation and localization guide for that.
Already set eyes on that market share? As an eLearning translation agency with a flair for localizing online courses in over 75+ languages and expertise on all things localization, Pangea Global has your back!
