E-learning has demonstrated significant growth over the past decade because of the opportunities provided by the internet and technology for people to learn new skills.
Since the outbreak of Covid-19 pandemic, online education has become more centric in society. It has forced schools, universities, organisations, and multi-national companies to work remotely, which booms to virtual learning.
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However, the ‘new normal’ has received much wider acceptance due to the vast opportunities offered by online education. And that’s why software like learning management systems has solid global demand.
Online coaching has grown in popularity for a number of reasons, including:
- Easy access
- Cost reduction
- Asynchronous learning
- Test preparation
The emergence of cloud-based learning management systems is one of the major factors that has driven the growth in the online tutoring market. The advent of cloud-based LMS has aided in the development of creative content, online learning materials, and real-time questioning.
Over the past few years, online coaching platforms have been experiencing a rapid uptake by the education and business sectors. Schools and corporate companies have adopted LMS platforms to enhance the learning experience for learners and employees respectively.
The Covid-19 pandemic has further transformed the online tutoring industry with the closure of educational institutions globally. As per UNESCO, by March 2020, over 1.2 billion learners in 186 countries were affected by school closures due to the pandemic. Countries that were severely impacted by the pandemic have witnessed a rapid growth in virtual learning.
Almost half the market’s growth originates from the Asia-Pacific region. China and India are key markets for online tutoring. Market growth in these countries are faster and more productive compared to others.
The easy development and availability of learning management systems has helped independent tutors and institutions to build their own branded online academies and create, market, and sell courses online. With advanced technology, educators can build their own websites and mobile apps through white-labelled online training platforms with a matter of few clicks.
Emerging market trends that accelerate the e-learning market are virtual learning, mobile-based learning, and customised tutoring services. Advancements in information technology have resulted in the growth of virtual learning across the world. Online educators have begun to conduct classes through virtual classrooms as well. An increase in mobile and tablet usage by learners and parents have facilitated the rise of mobile-based learning. Customised teaching has achieved popularity as it helps educators provide customised learning content to learners based on their understanding of the subject, interest, and performance level.
When a tutor wants to sell courses online, it is ideal for focusing on areas with high demand. Given below are a few of the most popular and revenue-generating courses:
- Personal development
From the above-mentioned fields, STEM (Science, Technology, Engineering, and Mathematics) has the maximum demand amongst learners, parents as well as other educational stakeholders. And that’s the reason why STEM is the most significant driver of growth in the online education sector.
The graph given below represents the market share of STEM and language courses compared to others.
Courses related to upcoming technologies like artificial intelligence, virtual reality, and augmented reality can completely transform the digital learning environment. Video-based learning resources are also rising in popularity.
Moreover, other significant trends seen in the digital education sector include the usage of carefully crafted content that is interesting enough to maintain learners’ attention. Online communities are the new classrooms to build connections and share feedback to optimise brand recognition. Latest technologies like digital boards, badges and gamification show positive effects in increasing learner engagement and performance. Tutors can also bank on using real-time polls and quizzes, to increase learners’ participation.
The growing demand for cost-efficient, flexible and interactive learning experiences has contributed to the popularity of cloud-based learning management systems, which has compelled service providers to integrate the latest technologies.
The integration of cloud-technology in an LMS allows learners to access courses at any time from anywhere. This cloud-based technology in LMS also enables educational institutions to create a virtual learning environment for both learners and tutors.
Changing the pedagogical techniques according to the growing demands and current market trends will bring more scope and successful opportunities for online educators. They should grab these chances and make use of them to the maximum extent. Investing in an all-inclusive LMS platform like Mykademy would make things easier. After all, why take an extra effort when you can gain maximum return on your investment with minimum effort.
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