Remote Learning Technology Spending Market is Forecast to Surpass US$ 49 billion in 2020 & to rise at 14.7% CAGR between 2020 and 2030

A recent market study published by Future Market Insights (FMI) on the Remote Learning Technology Spending Market includes a global industry analysis for 2015-2019 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.

The education and training sector is currently undergoing a revolution. The massive rise in the penetration of tablets and other mobile devices are pushing businesses and educational institutes to direct their spending towards potential opportunities generated through remote learning.

The growth of the remote learning industry is anticipated to continue steadily as Future Market Insights has estimated the valuation of the remote learning technology spending market at over US$ 49 billion in 2020 and to rise at 14.7% CAGR between 2020 and 2030. Companies operating in the market are aiming at developing course materials and remote learning platform software solutions.

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FMI’s report on the market offers a comprehensive overview, covering key market dynamics. Some of the takeaways from the report are as follows:

• The value of the market for remote learning technology spending was US$ 43 Bn in 2019, which is a substantial increase over the previous year
• Exponential growth is projected in the current year (2020) as a result of demand for online education and training at home for students and employees during the ongoing pandemic crisis
• Instructor-led training and learning is projected to account for significant revenue share, on the back of collaborations with domain experts on content development and training
• North America is a leading market. However, East Asia is projected to be very lucrative, and is estimated to surpass North America by 2030, owing to a massive student population and adoption of remote learning during the coronavirus pandemic

“Mobile device-based learning, social learning, and corporate training are major trends supporting the adoption of remote learning technology spending market revenue. Demand from varying sectors, such as healthcare and aviation for employee training is supporting industry demand. The coronavirus crisis has further provided impetus to remote learning solutions among students and corporates bodies,” said a lead analyst at FMI. 

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COVID-19 Impact on Remote Learning Technology Spending Market

Countries from around the world have been severely impacted by high infection rates of the covid-19 virus. Schools, colleges, universities and enterprises of all sizes have had to close or restrict regular operations. This transition from official premises has proven beneficial to the adoption of remote learning technologies. While the remote learning sector has been displaying strong growth prior to the pandemic, development of solutions such as online learning software, language apps, video conferencing tools, and virtual tutoring has soared.

Competition Analysis

FMI in its report analyses the varying strategies of major companies operating in the market. Most companies are focused on the development of remote learning platforms in addition to providing certification and course material services for a wide range of subjects, with emphasis towards education institute and enterprise level applications. Some of the companies operating in the remote learning technology market are Oracle Corporation, Microsoft Corporation, SAP, Adobe, IBM Corporation, Skillsoft, and others.

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Remote Learning Technology Spending Market Segmentation:

Solution

• Software
  • Learning Management System Platform
    • Web-based LMS
    • Mobile-based LMS
  • Virtual Classroom Software
  • Others
• Services
  • Professional Services
    • Learning & Content Management
    • Consulting Services
    • Integration & Implementation
    • Support & Maintenance
  • Outsourced eLearning Services

Learning Mode

• Instructor-Led Training & Learning
• Self-Paced eLearning
• Blended/Hybrid eLearning
• Social Learning
• Collaborative Learning
• Simulation Learning

End User

• Individual
• Government Organizations
• Academic Institutions
  • K-12
  • Colleges/Universities
• Academic Institutions
  • SMEs
  • Large Enterprises

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