Why Education Should be Supported With Online Tools

Technology will always affect various aspects of our lives, the education system is no different. Over recent years E-learning (education transmitted by electronic) has grown so much, which has benefited not only students but also teachers. In 2019 the E-learning market brought in 200 billion and it is expected to grow at over 8% CAGR in between 2020 and 2026, so it is expected by 2026 to be $375 Billion. In today's world advanced technology is everywhere which can literally drive up the market growth. For example Cloud computing, AI adoption etc., with the adoption of cloud, teachers can upload the content on the cloud storage and students can learn or download that content with the sharing option. Online E-learning courses are the number 1 use on the internet and are still rising every day. Online statistics show the age group of 16 to 44 years in the UK usage stands at 99% in 2019.

Impact of the pandemic on Global education

Number of students who got impacted by closing of schools.

Due to this pandemic educational applications are on the rise. These applications allow teachers, guardians and students to communicate online. With the applications teachers have the ability to create virtual classrooms, where they can share videos and pictures. Some applications are full of educational videos and materials for students to learn and also some applications are now offering online courses. These applications also keep track of student’s progress. The pandemic has made e-learning the best solution for students. Due to the current situation, about 1.2 billion students faced the shutdown of school. The e-learning management systems like Google Classroom are helping students attend classes regularly, communicate with their teachers, and stay connected with the class. The concept of electronic learning is continuing to involve every day, and giant market players have started to compete for the stop spot.

It is expected that the e-learning market will grow at a CAGR of 11% during the pandemic life cycle. The virtual classroom allows students to interact with teachers via a video conference, with an online whiteboard. This creates a class room like environment. To teach health care professionals WHO, G20 have adopted and started using e-learning methods. IATA (International Air Transport Association) has developed a one day e-learning course on contractual obligations to accommodate for the pandemic.

Key online Learning Statistics

• The e-learning market has two decades behind them.
• It is expected that by 2025, the global market for e-learning will be $325 billion.
• In higher education institutions at least 50% students have taken at least one online course in the past year.
• Corporate e-learning reports a 25%-60% on the effects of increasing knowledge retention.
• In 2017 at least 80% companies used online learning platforms, and it is rising every single day.
• With an online survey it is known that 60% internet users online courses are best, because they fit their lifestyle and timing.
• By 2020 VR and AR will be the greatest education software, and the revenue will reach near $300 Million.
• Almost 77% of US corporations used online learning.
• Between 2020 - 2024 the US e-learning market will grow up to $12.81 billion.
• By 2020 - 2024 the corporate e-learning market will increase to $38.09 billion.
• E-learning will increase the income of at least 42% of US companies.
• IBM has saved $200 million after they switched to e-learning.

Countries using different types of online education resources

The effect of AR/VR on e-learning

It’s no secret that e-learning platforms have grown and the pandemic situation, pushed e-learning even farther. Statistics are showing that implementing AR/VR on e-learning completely will make it even better. Augmented Reality and Virtual Reality makes studying easier, effective and practical, training has improved. As we all know that the AR and VR industries are skyrocketing right now, so education gets supported by these tools. It will be a great advantage for both sectors.

Growth Of mobile learning

As per the Global News Wire, if implemented properly the growth of mobile learning will reach up to $78.5 Billion worldwide by 2025. The e-learning market’s statistics are always showing that mobile learning is the fastest growing market in the sectors. It has always maintained a steady growth of 23% over the past years. In 2015 the worth of the mobile learning market was $7.98 billion, and at the end of 2019 it pushed to $27.32 billion, which is more than triple. Experts are expecting that the mobile learning market will reach closer to $37.6 billion by 2020, and this sector will maintain a CAGR of 36.3% through 2025.

The E-learning industry has grown 900%, since 2000. After the arrival of the internet, distance learning has grown so much. The US and Europe are making the most of the e-learning industry, as most e-learning industries are focused in the US and Europe. Asia has started growing in the e-learning industry extremely fast on the onset of the pandemic. The Asia Pasific there growth of the e-learning industry is annually 20%. One of the many amazing facts of the e-learning industry is the courses of e-learning are done 60% faster than in person. E-learning is time efficient, saves travel cost, and it blossomed during the pandemic.