If I ask you "Which is the world's most rapidly growing market?", What would be your Answer? no, it's not Automobile it's not Consulting it is eLearning Industry, Yeah! Its e-Learning during the pandemic when all the finances & Funds of developed nations are going down at that time e-learning is booming.
The CAGR (Compound Annual Growth Rate) of E-learning is around 22% which is the highest in Asia itself. If we take this on the worldwide level then from the year 2000, the market growth rate has been 900%. During the decline time, IBM started losing money for about 3% compound average rate, then they shifted to e-learning and saved approx. $200 million after switching to e-learning.
In India before Pandemic ELearning has a huge market cap of $39 billion, and increased rapidly. Although the pandemic has given a big boost to online education, where instead of reading from their teachers, children are studying digitally from experts in every subject, it has not only given them an expert teacher but has also provided them with a new way to study.
It is worth noting that it also has some limitations like you cannot do chemistry practical’s at home at least a small lab is required, apart from this there are many other subjects which require a practical environment (like physics). But as it happens in every field, it happened with the online learning platform, as its craze increased, so did its resources, and in today's time, from private companies to government organizations all are in this market.
where It was started by "SWAYAM" and today it has become a hub of education for millions of people all over India, from where many young people reskilling themselves and earning good values over it.
Apart from the Government platforms, Private companies from all over the world have also launched their educational platform. Like Google, Accenture, IBM, TCS & other tech giants had launched their Ed-tech Platform or courses over other platforms. Some Government institutions such as IIM, IIT's and some other universities had also launched their courses. If we talk about the Mobile-based E-Learning Industry $38 billion is the total value till now.
It's time to speak up about some Bitter truth about the "e-learning industry" to drop some truth bombs. Online Learning promotes a sense of isolation which led students and fellow learners to mental depression and affects their mental health and students can get easily affected by it.
Another serious issue is the priority by the recruiters, some recruiters may reject an online degree in comparison to the one which is obtained after the physical attained one.
When it comes to online learning more time, effort & resources are required to accomplish the online degree. The major factor is a technical glitch or technical problems which you may face during the classes. As online learning completely relies on technology, which might be a failure sometimes.
Slowly Online Learning is turning out to be a crucial part of daily routine. It has some benefits such as skilling yourself without spending thousands of dollars and wasting your time in the classroom.
Due to the technology, the classroom came at your doorstep you can attend the classes whenever you want this may lead you to save your time and complete your Master Studies & Specialization without leaving your job.
Like every technology, E-learning has some Pros as well as Cons what matters most is that we should try to use the good side of it to improve ourselves day-by-day.