Market Size and State of the Economy

• For each region, the size of the elearning market was based on client-provided data. Since there was no market size provided for the U.S., we expanded the region to North America in order to use the data.

• The majority of the data provided is based on pre-pandemic information, as more recent reports with the impact of the virus were limited. It should be assumed that data is based on pre-virus information unless specifically stated otherwise.

North America

• The size of the elearning market in North America in 2013 was $23.8 billion, with it expected to increase to $27.1 billion by 2016. There was no indication what portion of the revenue was related to corporate elearning.
• The GDP of North America has grown approximately 2.5% per year since 1994. Even though the U.S., Mexico, and Canada account for 6.5% of the world's population, the three countries generate 27% of the global GDP. While the North American economy is expected to contract in 2020 due to the pandemic, 2021 growth is projected to be 6.74% [((1,910+21,666)-(1,797+20,290)/(1,797+20,290)x100]. In case the Statista source is not viewable, a screenshot can be seen here.
• North America has three of the top 20 economies with the U.S. (1st), Canada (10th), and Mexico (15th).
• While the annual growth rate of the global corporate elearning industry through 2026 is expected to be about 15%, North America is expected to have a higher growth rate "due to the growing advances in technological infrastructure and increasing investments from major organizations and e-learning vendors in launching innovative solutions and systems for digital learning."
• Although the "Americas held the highest share of the global corporate e-Learning market in 2017," from 2018 to 2022 the region's share of the market is expected to decline by about 4%.
• In 2019, North America was the second largest region in the corporate elearning industry, behind APAC.

Europe

• The size of the elearning market in Europe in 2013 was $7.5 billion ($6.8 billion + $0.7288 billion), with it expected to increase to $9.3 billion ($8.1 billion + $1.2 billion) by 2016. There was no indication what portion of the revenue was related to corporate elearning.
• Since 1995, the GDP growth rate for the European Union (EU) has mostly ranged between 0 and 1%, with growth actually falling below zero several times. The World Bank does not report on the GDP for Europe alone, but combines it with Central Asia. The GDP for that region since 1995 has mostly ranged between about 1.75% and 4%, with significantly lower GDP in only a few years (2009, 2012, and 2013).
• Comparing the EU GDP to that of Europe and Central Asia shows that much of the growth in the region is happening outside the EU countries.
• Docebo reported that the EU corporate training market would grow at a compound annual interest rate (CAGR) of 9% between 2016 and 2020. This is actually lower than the global growth rate of 15%.
• Technavio also reports that one of the key drivers of growth in the overall corporate training market in Europe is "the digitization of learning materials."

Latin America

• The size of the elearning market in Latin America in 2013 was $1.4 billion, with it expected to increase to $2.2 billion by 2016. There was no indication what portion of the revenue was related to corporate elearning.
• From 2010 to 2016, the GDP growth rate for Latin America and the Caribbean declined until it went into negative territory in 2016. However, in 2017 and 2018, growth was 1.77% and 1.57%, respectively. For 2019, growth in the region was projected to be 0.5%.
• The International Monetary Fund reported in October 2019 that some emerging markets in Latin America should see improved economic performance.
• According to a report by Docebo, investments in learning, development, and training programs by corporations in Latin America have declined due to economic crises in various member countries. However, it is not clear when this was published.
• In a report on the growth of elearning in Latin America, it was reported that self-paced elearning represented 3/4 of the elearning market share in the region, and that a major part of this growth was "the growing preference for continuous learning and scaling new career opportunities for employees in the corporate sector."

Asia

• The size of the elearning market in Asia in 2013 was $7.1 billion, with it expected to increase to $27.1 billion by 2016. There was no indication what portion of the revenue was related to corporate elearning.
• The GDP in Asia has been growing at over 4% since at least 2010, and is projected to grow at a rate of 5% or more through 2024. In case the Statista source is not viewable, a screenshot can be seen here.
• Technavio predicts that 41% of the growth in the corporate elearning market from 2020 through 2024 will come from the APAC region. The region also led the market in 2019.
• Elearning in Asia is complicated by the large number of languages spoken in the region. India has more than 30 languages that at least 1 million people speak. Many of these languages also use their own systems and scripts, further complicating things. However, Southeast Asian forum ASEAN, uses English as their working language, which means some elearning can likely be presented in English, but other languages will also need to be accommodated.
• One of the factors driving growth in the region is "robust growth of the manufacturing and financial sectors in the region has increased the adoption of automation at the workplace," which has "necessitated the need for corporate e-learning solutions to improve employee skills to use new technologies."

Africa

• The size of the elearning market in Africa in 2013 was $332.9 million, with it expected to increase to $512.7 million by 2016. There was no indication what portion of the revenue was related to corporate elearning.
• From 2000 to 2016, Africa's GDP grew at an average rate of 4.6% per year. Projections through 2022 indicate annual GDP growth of 3.9%.
• Learning News has been publishing the Movers and Shakers in Corporate Online Learning list for at least 9 years. In 2008, they published a similar list that was exclusively focused on Africa. This seems to indicate growth in the industry.
• Overall, the elearning market in Africa is a small piece ($792 million) of the global market ($190 billion). Please note these figures are for elearning, not corporate elearning.
• McKinsey reports that there are huge opportunities for companies in Africa. Most of the multinational companies that have entered the region are based in South Africa.

Region of Focus

• Based on the data collected, Asia appears to have the largest upside in the corporate elearning market. This is mainly due to the fact that the region is expected to account for 41% of growth in the industry through 2024, and that its projected GDP growth is higher than the other regions.
• Additionally, the widespread adoption of automation in the region increases the need for training.

Corporate Elearning Companies in Asia

Helpful Findings

• Even though 24x7 Learning was listed as a major player by several industry experts, further examination of the company found that their website appears to have been taken over by another company, and that they are currently under liquidation.
• CommLab operates in more than 30 countries and states they are "ranked among the top 10 e-learning development companies in the world."
• Some services offered by CommLab include converting traditional instructor-led classes to elearning, converting legacy courses, and translating English courses into more than 35 languages.
• City & Guild Group was identified as a leader in the corporate elearning space, and they operate in over 100 countries including Malaysia, China, Hong Kong, and India. Kineo is part of the Group and is responsible for corporate learning.
• According to eLearning Industry, some top trends in corporate elearning are learning experience platforms, learner analysis and reporting, AI powered solutions, work-life coaching, and independent learning.
•  Other trends reported by Docebo include more personalization, automation, and mobile learning.

Companies Using Elearning

• It was reported in late 2018 that by 2020, almost all employers would be using online learning. A report in Small Business Trends reported the number would be 98%. In 2017, 77% of U.S. companies were using elearning.
• In the 16 years prior to 2019, companies had increased their use of elearning by 900%.
• As of mid-2018, 40% of Fortune 500 companies were using elearning for professional development.
• In 2018, total money spent on training by U.S. companies was $87.6 billion, which was a 6.4% decline from the previous year. Of note, both large and mid-size companies increased spending on training, while small companies significantly decreased spending. Only about 25% of training was delivered solely through elearning technologies.
• In 2016, companies with 10,000 or more employees had annual training budgets of about $13 million; companies with 1,000 to 9,999 employees had a training budget of about $3.7 million; and companies with less than 1,000 employees budgeted an average of $290,000 for training. Although this data is not specific to elearning, it is likely that the companies spending the most on training are also spending the most on elearning. A screenshot can be found here if the link is behind a paywall.
• In North America, small companies spend more per learner on training than mid and large-size companies.

Industries Embracing Elearning

•  Four industries that are embracing elearning are manufacturing, healthcare, retail, and finance.
• Manufacturing is a good fit for elearning because training modules can easily be updated to account for frequent changes in the industry. Additionally, there tends to be high turnover in manufacturing and elearning allows for training many people at one time.
• An example of a manufacturing company using elearning is Toyota. Since 2005, the company has utilized elearning to train technicians and engineers. They also use elearning to keep distributors and retail outlets up to speed with their products.
• Healthcare has embraced the mobile learning that elearning allows, which means busy staff can do the training at a time that fits their schedule, rather than being pulled away from patients. The healthcare industry is also heavily regulated and elearning tools provide an efficient way to ensure employees are up to date on compliance issues.
•  Newcross Healthcare turned to Docebo to help them create an elearning module that would improve onboarding of staff. More than 2,100 employees have used the system and it has decreased training time by about 4 hours per person.
• In the retail sector, elearning has helped companies navigate the mid-course corrections that are often necessary due to customer response or other industry data. As an industry with high turnover, elearning also allows for training to occur at any time which means new employees can be trained immediately, without waiting for a large enough group of new employees to make running an in-person training cost-effective.
•  Levi's partnered with Kineo to provide training and development to its retailers in order to ensure consistent branding and experience.
• Compliance is a big issue in the finance industry, as it is in healthcare. Employees need to be knowledgeable about regulations, and there needs to be a fast and efficient way to disseminate new information. Since elearning materials can be quickly updated, they are a perfect fit.
•  PayPal made a large investment in training, and in order to engage employees where they are, they take advantage of Facebook and Twitter. By creating private groups and having experts teach short classes, they are making it easy for staff because many of them are already spending time on these platforms.