Asia-Pacific e-learning market size to surpass $90 billion by 2026,
Pune, India, May 24, 2022 (GLOBE NEWSWIRE) —
According to a recent industry report presented by Graphical Research, the Asia-Pacific e-learning market is expected to register its name in the billion-dollar fraternity within seven years, surpassing $90 billion in revenue by 2026.
Disruptions in the orthodox way of teaching and learning due to the COVID-19 pandemic has fueled the share of e-learning industry in Asia-Pacific. Also, the exponential growth of smartphones and the availability of high-speed internet have opened avenues for growth. Faced with an ever-changing business landscape, industry players are gearing up to embrace artificial intelligence and machine learning.
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As online learning becomes the new normal, the confluence of technology with education has sparked innovations across the APAC region. Learning strategy and business models have seen a paradigm shift with the trend towards virtualization and remote working. Online learning has become a preferred learning method, bridging the gap between work and learning.
- Mobile e-learning is here to stay
A strong presence of portable gadgets, including laptops, smartphones, and tablets, has led to a robust approach to online learning. A relentless move towards continuous learning mechanisms has encouraged corporate employees to seek out short, modular courses on tablets and smartphones. Additionally, the growing number of SMEs in India and South Korea has given further impetus to advanced mobile learning solutions.
- Learning management systems (LMS) are becoming an optimal technology option
COVID-19-induced lockdowns have led to the popularity of LMS in organizations as a course catalog in the formal education system. Notably, the integration of AI and cloud in LMSs has boosted the trend towards e-learning. AI-powered personalization, along with augmented reality and virtual reality, should bolster immersive training. Precisely, VR simulation, 3D paintings and real scenarios will help improve learning engagement. Asia-Pacific e-learning market share of the LMS Technology segment will grow at a healthy CAGR through 2026.
- Strengthening e-learning in the university sector
The rise of e-learning amid a sudden shift away from the classroom in China, Australia and India has redefined the landscape of the industry. According to the World Economic Forum, around 81%, or 730,000 K-12 students, attended classes through an online platform in Wuhan. Notably, schools in Australia have implemented remote online learning, although a majority of schools have continued as usual. In March 2020, public schools in Australia provided laptop loans to bridge the digital divide between students. The university sector could hold a considerable share of the Asia-Pacific market till 2026.
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- Online learning, a way forward during the COVID-19 pandemic
With the coronavirus accelerating large-scale digitization, the pandemic has heightened the need for LMSs, video conferencing tools, and cloud systems. Educational institutions have shown strong interest in holding online lectures following the onslaught of the COVID-19 outbreak. For example, in South Korea, the Ministry of Science and ICT (MSIT) has partnered with the Ministry of Education and the Ministry of Women and Family to develop new digital learning websites for the software coding and 3D education.
The competitive landscape suggests that industry players are likely to invest in innovations, R&D and strategic alliances. Some of the leading companies in the Asia Pacific e-learning market are Cisco Systems, Inc, Microsoft Corporation, Apollo Education Group, Adobe Systems Inc., SAP SE, Skillsoft Oracle Corporation, Citrix Education, and Meridian Knowledge Solutions.
As remote learning becomes the next big thing in the region, organizations are likely to prioritize learning content to bolster their talent pipeline. Notably, most organizations should take advantage of the pandemic to boost e-learning systems. The shift to virtual learning could be paramount to creating a more effective method of educating learners.
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