The global online learning industry has become the cornerstone for compliance training and distance education. In this blog, we’re going to look at some online learning statistics that help reflect that in 2022.
Online learning has begun to supersede traditional learning in numbers of students enrolled, due to the online learning industry being able to provide self-paced corporate training and online degree programs.
The education sector has shifted and evolved, especially in light of the Covid 19 pandemic, with most of us having to engage in distance learning, not by choice, but simply because the global eLearning market is the only practical way forward for most.
According to online learning statistics, this change in preference to digital learning was always the future trajectory for education statistics, the global lockdown simply propelled forward the wide adoption of digital learning tools in both the corporate world and educational institutions.
While the global circumstances may not have been ideal for the education industry, the adoption of online classes has proven to be a fruitful endevour for online students. With student retention rates increasing over the lockdown period, the online learning market is expected to continue growing.
Online learning is not only convenient for the modern learner but is also more efficient than traditional higher education practices.
The team at Archy Learning has collected 10 interesting statistics around eLearning in 2022, to show you that the future of the eLearning industry looks bright!
- By 2022, the eLearning industry is predicted to be worth a whopping $243 billion
- The massive open online course (MOOC) market will likely grow to $374.3 billion by 2026
- Over 100 million people now prefer to learn online
- IBM saved almost $200 million by switching from traditional training to eLearning
- The eLearning market grew 400% in 2020.
- eLearning increases learning retention rates by between 25% and 60%.
- Mobile learning will become the microlearning mode of choice by 2025.
- 98% of Small Businesses Use Video-Based Training Programs
- eLearning Courses Produce 86% Fewer Greenhouse Gases
- 81% of students reported that eLearning tools help them to improve their grades
1) By 2022, the eLearning industry is predicted to be worth a whopping $243 Billion
According to a Research and Markets study, the rapid growth of the eLearning industry is expected to continue to reach an estimated $243 Billion by the end of 2022.
Furthermore, it’s predicted the industry will continue an uptick in growth to be valued at almost $337 billion by 2026!
2) The massive open online course (MOOC) market will likely grow to $374.3 billion by 2026
MOOCs are educational programs that anyone can take at any time without any limit to attendance or location. Business forecasts are also showing that the overall MOOC market value is set to grow to USD 374.3 Billion by 2026.
These online learning opportunities can be created by using Learning Management Systems (LMS) to create your own courses online, or contribute and learn by using course hosting websites. Either way, there is plenty of market share and opportunity for everyone.
The pandemic has caused considerable growth for these platforms, as over ⅓ of learners on MOOCs joined in 2020 alone.
3) Over 100 million people now prefer to learn online.
Online learning studies have shown that over 100 million people now prefer to learn remotely, and online, instead of in person. That statistic is actually 5 times bigger than the population of all college students in the USA today, proving that there is most definitely a demand!
With the increase in mobile devices, access to high-speed internet, and an uptick in people who prefer learning outside of a traditional classroom environment, there is huge potential for growth.
Even though this statistic may seem fairly obvious these days, just five years ago it would have been almost unheard of! Online eLearning has changed everything when it comes to education statistics.
4) IBM saved almost $200 million by switching from traditional training to eLearning
Employee training and development make up a huge part of large companies’ budgets, but eLearning appears to be one way to save money. Computer hardware corporation IBM reportedly saved around $200 million after implementing eLearning.
By switching from traditional training methods (e.g., instructor-led classes) to online courses back in 2020 – showing that organisations are starting to see the value and need for more digitalised eLearning opportunities than ever before.
When you consider how much money businesses invest each year on employee development initiatives ($700 billion), then even small increases in the eLearning market share will have a huge impact on revenue.
5) The eLearning market grew 400% in 2020.
The studies and profits over the last year have shown that as the world and most of the economy had been put on pause, learning wasn’t, instead, making a lateral move into online.
Many learning professionals actually began to look for more eLearning opportunities online, wanted to learn new skill sets.
The trend is only set to grow from here on out as well, with small to large-sized global organisations seeing the benefits and overall convenience of online learning during the Covid 19 pandemic.
During 2020, demand for online courses rose exponentially according to a study by global market insights. Demand rose by as much as 400%, with many people wanting to upskill during their time off work.
6) eLearning increases learning retention rates by between 25% and 60%.
In contrast, retention rates of face-to-face training are much lower: 8% to 10%. Students have more control over their learning experience with eLearning.
In addition, they can access it at any time if they forget anything. And – they can retake that online quiz if they failed it the first time around. That’s what this does: it relieves a lot of the stress and allows them to focus on learning rather than performing.
7) Mobile learning will become the microlearning mode of choice by 2025.
Microlearning has become increasingly popular in the last few years and is still one of the leading trends in online education today. That combined with learning via mobile devices, users can watch and learn their topics of choice, virtually from anywhere.
This means that for course creators, you need to make sure that you are creating content that will suit a mobile format, and ensure you choose the right LMS that will support this. This is an area that should not be overlooked.
8) 98% of Small Businesses Use Video-Based Training Programs
A number of online learning tools have been used in recent years to help enhance compliance training but nothing has had a greater impact on digital learning than online educational videos.
It isn’t just large businesses that are turning to online learning to train their employees either, small businesses are using online learning platforms to train their employees in-house. In fact, 98% of small businesses use online learning platforms with video-based training for their corporate learning.
As online learning trends come and go, the use of video within eLearning courses will remain a constant within eLearning statistics and corporate training.
9) eLearning Courses Produce 86% Fewer Greenhouse Gases
Given that the use of online learning platforms can be done remotely and without the need for students to commute, eLearning courses produce 86% fewer greenhouse gases than traditional schooling.
Online learning is the perfect solution for anyone looking to reduce their carbon footprint, not just in terms of transport but also in terms of power consumption for computing devices, and paper usage, reducing CO2 emissions worldwide.
10) 81% of students reported that eLearning tools help them to improve their grades
Online learners have reported higher levels of engagement in their classes and the ability to learn independently.
In the same way, eLearning tools are proving essential for helping students keep their grades at the desired level. Over ¾ of students report that eLearning is essential to helping them improve and maintain their grades.
It’s never been easier for students to learn on their own time, at any location with state-of-the-art eLearning tools that allow people to engage in coursework from anywhere at any time.
The online learning statistics mentioned above have only been a keyhole look at how online education is quickly increasing in adoption and popularity, and there are many trends that are being identified within online courses, from mediums of choice, increased demand in usage, platform creation, and content availability.
If you’re looking to create your own online education program that brings value and upskills others, we believe that what you have to teach is actually worth learning.