Ambient Insight has last month released a report on how the global market for self-paced eLearning products and services will grow through till 2014. It estimates the market had reached US $ 27.1 billion in 2009. The demand is growing at a 5 year compound annual growth rate of 12.8% and will take the world market to US $ 49.6 billion by 2014.
Key highlights (as shared in the executive summary are):
– North America will continue to be the biggest market
– By 2014 Asia (which includes Australia and New Zealand in this report) would overtake Western Europe to become the second largest market after North America. The compound annual growth rate in Asia is a very healthy 33.5%
– East Europe is second fastest in growth terms at 23.0%. Vibrant outsourcing hubs have come up in countries such as Belarus and the Ukraine.
– There is resistance in regional markets to content that has been translated but not localized. This is creating demand for local content in each region.
– There’s virtually no self-paced eLearning being used in primary and secondary education in Japan, proving that it is a ‘myth’ to assume technologically advanced regions are more likely to adopt self-paced eLearning. In contrast 100% of primary and secondary schools in Korea and Singapore offer some type of online education.
– Adoption of self-paced eLearning is now wide spread across buying segments. North America where corporate are still the top buyers, will see academic buyers emerge as top buyers in next five years
– New tool and learning platform suppliers are entering the market at a steady rate in each region even in more mature markets like North America.