Technology has revolutionised the educational landscape in a way that could have never been imagined before. The scale and rate at which E-Learning is spreading its wings across the globe tell us that lectures and seminars will never be the same. Tailored approach and focussed teaching have overshadowed the age-old procedures of teaching and made them obsolete.
“The reasonable combination of low cost, high convenience, and accessibility is transforming online education into the predominant global educating force of the ongoing century.”
No wonder the ever-increasing array of E-Learning tools are being leveraged by companies, government bodies, and individuals, in numerous ways. Modern-day Instructors and Trainers have at their disposal, a digital toolbox, which makes it simpler for them to impart knowledge.
They also receive data regarding individual student’s performances and can use it to identify areas of improvement, thus making the process more effective and effortless at the same time.
While the recent changes in our learning patterns are pretty evident around us, it still doesn’t tell us about the precise magnitude at which this field is blooming. In order to quantify the massive impact of online coaching on the present-day economy, let’s take a look at some mind-boggling E-Learning statistics for good measure.
By 2025, the Global E-learning Market Is Expected to Reach a Whopping $325 Billion
To put this huge figure into perspective, it helps to know that this number stood at $165.36 billion in 2014. It is common knowledge that the demand for online learning is increasing with each passing day, and so it makes perfect sense that the market value doubles in a decade.
Moreover, the ever-growing industry-need to train more people at lower costs and the fact that learning through online portals is much more convenient than blackboard classrooms is driving the E-Learning market value into the stratosphere.
E-learning Slashes Carbon Dioxide by More Than 85%, Cuts Energy Consumption by 90%
It has been documented numerous times that online learning provides a much greener than the traditional face-to-face method. It has stood out as an unlikely pillar in the planet’s struggle against global warming. For large-scale companies and educational institutions, adopting permanent E-Learning procedures would mean a significant contribution towards making Earth a healthier place to exist.
Also, costs of implementing online learning into an institution’s ecosystem cost way less as compared to offline methods, making this a win-win situation for both the provider and the student.
The E-learning Industry Has Grown by 900% Since 2000
Revenues in the E-Learning industry have grown by 900% since the turn of the century. The drastic rise in internet connectivity coupled with dropping prices of mobile devices has resulted in online portals being accessible to a larger audience now than ever before. This has facilitated a seismic shift in educational patterns and how information is being consumed.
Online coachings have taken over in the modern digital era, and are running the education system in a whole new manner. Along with educational institutions, private/public companies have also incorporated online learning into their curriculum, resulting in a huge financial boost to the sector as of late.
Companies That Use E-learning Platforms Generate 26% Higher Revenue Per Employee
It is largely due to the fact that a well-educated and trained workforce is efficient and highly productive, and companies want to invest heavily towards this cause. Training sessions can be easily synchronised across all hubs, irrespective of geographical positioning, leading to a consistent flow of information.
Also, online courses take peer pressure out of the equation. The content consumer can learn at his/her own pace and draw the most out of the training procedure.
Online Learning Enables the Student to Absorb Five Times More Study Material Than Traditional Methods
The power of E-Learning as an intervention cannot be measured in mere numbers. But one such mathematical miracle comes forward when you look closely into the information grasped by the student. It was found that a student who took online classes learned more than five times as much material compared to traditional methods of teaching. And there is a fairly understandable logic behind it.
When E-Learners consume information, they do so in smaller, more digestible chunks, which makes it easier for them to understand and retain the concepts. On the other hand, orthodox classrooms do not focus on imparting key knowledge efficiently, and thus, the low performance per hour creeps in.
“It is now crystal clear that the E-Learning industry will continue to grow in leaps and bounds over the coming years.”
It is being embraced by educational institutions, private companies and government organizations as well. With the rise of a digital world, online learning will become more and more scalable than it is right now, and alter learning patterns for the greater good. It is certainly something to keep an eye on.