Online learning as we know it today can be traced back to 1986, when the Electronic University Network (EUN) created online courses to train people in the use of Commmodore 64 computers. Over the past two decades, the global e-learning market has expanded exponentially to the degree that online learning has featured in most people’s lives to some extent.

In 2019, the global corporate e-learning market was valued at a whopping $64.4 billion. By 2026, this is expected to rise to around $370 billion. Some of this increase can be attributed to the COVID-19 pandemic and the switch to remote learning it has necessitated. However, there are other external trends influencing the global e-learning market size.

Let’s take a look at what’s fueling the e-learning industry boom.

Reducing employee training costs

As far as the corporate e-learning market is concerned, the exponential growth of the industry seems to be fueled by the almost unlimited potential for cost reduction which online training affords. By automating training procedures relating to recruitment, onboarding, upskilling and other HR functions, companies have been able to significantly cut back on the money spent in these areas.

Even though custom e-learning development requires on-going investment, it invariably works out to be far more cost effective that allocating staff or hiring talent to conduct classroom-based training. This phenomenon is likely to be a key driver behind e-learning industry growth over the next decade.

The advent of microlearning

As the use of microlearning in custom e-learning development has become more widespread, so too have the number of companies commissioning bespoke online training solutions.

Microlearning occurs during short, highly-targeted sessions that typically last around 10 to 15 minutes. It’s versatility has broadened the potential for e-learning solutions to replace traditional, in-person training. Rather than wasting several days dragging dozens of employees in to a training room to brief them on a new health and safety guidelines, employers can use a custom microlearning program to train every staff member a the same time.

The global e-learning industry is crowded

The e-learning market is becoming increasingly crowded, making it harder for organisations to choose the right e-learning content provider. One thing is certain: custom-built content is by far the smartest investment if you are looking to move some or all of your company’s training content online.

The e-learning industry is a minefield, which is why you need to find an experienced, learner-focused development company you can trust. Get in touch with the Real Fruit Team today. We’ll help you take the first steps toward building engaging, interactive training content that represents your brand and empowers your learners. Are you ready to join the e-learning movement?

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