According to recent research reports, the demand of global E-learning Market size & share is expected to reach to USD 374.3 Billion by 2026 from USD 144 Billion in 2019, at a compound annual growth rate (CAGR) of 14.6%.
-By Rajesh Panda
E-Learning: Virtual Revolution
Although E-learning has been around for over a decade, it’s become a familiar term over the last couple of years. As the demand for remote learning grew during the pandemic, E-learning rapidly replaced the physical classroom. Even now with students heading back to schools and colleges, E-learning has made a place for itself in the education space and is here to stay. According to recent research reports, the demand of global E-learning Market size & share is expected to reach to USD 374.3 Billion by 2026 from USD 144 Billion in 2019, at a compound annual growth rate (CAGR) of 14.6%.
E-learning is generally divided into two categories – synchronous and asynchronous. In synchronous E-learning students and teachers virtually interactwith each other at the same time. Similar to an on-campus class, it’s scheduled regularly and the students and the teacher will attend the class at the same time. Students participate in discussions, give presentations, turn in assignments and work on team projects. Classes are conducted live online via Zoom or a similar platform.
On the other hand, asynchronous learning allows students to create their own schedule and can be carried out even when the teacher or student is offline. In this case, students complete the lessons on their own, Students can follow the curriculum and access the coursework via pre-recorded sessions or other learning materials at any time over the duration of the course.
Depending on their requirements and schedules, students can choose between the two. Some courses have a mix of synchronous and asynchronous learning activities making learning more flexible and effective.
Education has undergone a dramatic transformation with the rise of E-learning and has brought us to the cusp of education revolution.
Here’s a look at the scope of E-learning:
Flexibility: One of theadvantages of E-learning is its flexibility. When learning from home, students can save time and can focus on other activities. They have the freedom to plan their day without having to follow a strict schedule or spend time travelling to school or university. This flexibility improves discipline in students by enhancing self-motivation, responsibility, and time management skills.
This also benefits working professionals and allows for a better balance of responsibilities that they need to strike between study and work.
E-learning also helps in attaining better time management skills. According to IBM statistics, E-Learning can increase productivity by 50%. A common agenda between the teacher and the students in online education can prove immensely beneficial for extending more autonomy and sense of responsibility to all stakeholders involved in the ecosystem of education.
Wide Choices: E-learning provides students the opportunity to choose from a wide range of courses.
Most Universities and Institutions today offer online programs related to different disciplines. Right from quantum physics to music and fine arts and from automobile engineering to Master in Business Administration, there are numerous options available. It is also convenient for the students that without joining in-person, they can get certificates from reputed institutes related to the specialisation of their choice.
Accessibility Convenience: Just like flexibility, accessibility adds to the scope of E-learning programs. From the comfort of home, you can access the online learning programs and continue your study without stepping out of your living room. This saves time and is also a cost-effective medium to enhance your knowledge and build a better portfolio.
Customised Courses and pace of Learning
The use of AI and machine learning to design many of these courses allows for customised content that is best suited for the learner. This also lets students learn at their own pace and makes for a better learning experience.
E-learning has opened enormous opportunities for learners – students, housewives, dropouts, and working professionals. What we know of E-learning now is only the beginning, the use of technology such as augmented and virtual reality (AR/VR) will drive E-learning forward and transform learning. It is now more convenient than ever and has the potential to revolutionise how knowledge is shared.
The author is founder at Corporate Gurukul.