Education has become a strategic element of business. The value of the global e-learning market is growing, and the development of this industry is the result of continuous improvements in internet infrastructure. Both COVID-19 and AI and ML technologies have played a crucial role in this process.

According to the Global Market Insights report, the global e-learning market was reach $315 billion in 2021. This rapid growth was the result of the continued development of online infrastructure. The entire world is affected, including the telecommunications sector increasing the availability of online connectivity. According to the ITU, almost 4.9 billion people will be using the Internet in 2021 (63% of the world’s population), up from 4.1 billion two years earlier. This significant increase in the number of online users has opened the door to even greater access to platforms, including educational ones.

Benefits of e-Learning

A remarkable 42% of U.S. business leaders believe that e-learning has contributed to increasing their profits, as reported by an eLearning Industry. This trend not only appears beneficial for businesses but is also supported by real numbers. According to an “American Society for Training and Development” survey of 2,500 companies discovered those with “comprehensive training programs” have 218% higher revenue per employee and 24% higher profit margins.

Impact of COVID-19 on remote learning

The COVID-19 pandemic accelerated the growth of the e-learning industry. Faced with the threat, many companies shifted to remote work, which facilitated the development of Training and LMS. E-learning revenues increased significantly, and this trend is likely to continue as more people gain access to these platforms. The pandemic changed the way people learn and acquire skills, promoting e-learning as a significant educational tool.

AI’s role in LMS development

LinkedIn announced plans in April 2021 to provide companies with training videos and educational materials through its platform. Microsoft’s subsidiary highlighted the growing importance of AI and machine learning in education. These technologies enhance the efficiency of delivering educational content and enable progress tracking for learners, accelerating the global growth of e-learning. Ph. D. Krzysztof Wojewodzic, CEO of Escola, notes that cost savings and the flexibility of these systems have contributed to their promotion in government programs and academic education.

New directions

Furthermore, tools such as SaaS LMS, LXP, data analytics, data security and integration have ushered in a new era. The same goes for Headless, the technology used in wellms.io, which, when combined with H5P, offers countless possibilities, both today and in the future. See more here.

Photo by Jason Goodman on Unsplash

Wellms will be exhibiting at the World of Learning Exhibition on 10 & 11 October at the NEC, Birmingham! Learn more here.

About Wellms

Wellms is a learning management system created to shape the future of e-learning. Built using headless technology allowing separation of visual layers from the database, it opens endless possibilities for customisation and scalability. It can be used in learning and development and in onboarding employees, clients and partners, and extended enterprises. Wellms is the perfect fit for medium and large enterprises. In addition, the use of API enables integration with other tools and systems, as well as various devices, including VR Goggles, PlayStation, HHT or PDA or even Thermomix.