E-Learning Market To Be Worth $325 Billion By 2025

October 19, 2020

Education Embraces Online Learning:

Online education was already on the rise, but is now a necessity due to Covid-19. Projections expect the online education market to grow to $305.3 billion by 2025. But even before the pandemic, HMC Architects noticed a growth in colleges embracing distance education:

“According to California Community College (CCC) Datamart, over the last six years, statewide full-time equivalent student (FTES) enrollment in distance learning classes increased from 11.4% to 17.7% in total. As a result, last fall the CCC system opened a completely virtual college, Calbright College, with the main goal of representing California’s commitment to be a leader in distance learning. Since the beginning of the pandemic, many other colleges have followed a similar path and shifted to a predominantly online model.”

— HMC Architects, Distance Learning in the Time of COVID-19

 

In a post-Covid world, online education is only going to increase in popularity as it becomes more essential.

 

Online Education Seeking Data Partners:

The automation of online education is crucial for success as it grows to these unprecedented levels. As distance learning becomes the only option for students, many institutions are struggling to keep up on their own and are seeking the help of data partners.

An entire industry of data solution services, infrastructures, platforms, and app providers have always sought to make markets for higher education, and 2020 might be their chance.

By covering everything from recruitment and admissions, learning management, performance monitoring, employment matching, graduate tracing, and talent analytics, this industry can create an online environment that is every bit as functional as its physical counterpart. 

To maintain population and ensure growth, institutions will need to be more data-conscious than ever before. Gaining new students requires implementing more evolved methods than current models. The more aware institutions are of what their data can do, the more successful they’ll be during the rise. 

 

Keeping An Eye Out: 

We mentioned “performance monitoring” earlier, and since most people are skeptical when it comes to being monitored, we believe it warrants further explanation. While the methods and the extent aren’t always agreed on, performance monitoring is necessary for education. It sounds scarier and more invasive than it actually is — the importance of being able to track the performance of individual students plays a key factor in furthering their education.

With everything transitioning to online education, tracking students remotely can help ensure that they aren’t at risk from disengagement and dropping out entirely. The current situation of the world has “demanded” for universities to monitor and track students’ performances more closely to ensure that students have every opportunity necessary to be successful.

Benefits To Online Education As A Student:
Never forget: to understand why something is valuable, you’ll first need to know who it is most valuable to.

According to a survey from Statista (2019), 52% of graduate students reported that they found their online college-level education to be better than their experiences in college-level classroom learning.

Honestly, who wouldn’t prefer to be educated from the comfort of their own home? Students don’t have to arrange travel to and from class. There’s no fuel cost necessary to get from the bed to the desk. Often, the costs associated with tuition are lesser than going to class in-person. The availability of textbooks and materials are digital and instant — and some already included within the price of the class. Online education encourages social distancing by default. Students can learn from anywhere in the world rather than being tied down to a single city.

At the end of the day, online education is centered around the student experience. Higher education isn’t a requirement, so the processes need to be streamlined, welcoming, and inviting. If they’re unnecessarily complex or unwelcoming, then don’t expect too many interested parties to gravitate towards what you’re offering. Covid-19 has made online education more marketable now than ever before. Schools will need to evolve their remote learning programs to effectively and efficiently rise to the challenge or they’ll be left in the dust by their competitors.

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