The global eLearning market has experienced significant growth in recent years and is expected to continue growing at a rapid pace. According to a report by ResearchAndMarkets.com, the global eLearning market was valued at $144 billion in 2019 and is expected to reach $374.3 billion by 2026, growing at a compound annual growth rate (CAGR) of 14.6% during the forecast period.
The report also highlights some of the key factors driving the growth of the eLearning market, including:
The increasing adoption of eLearning solutions by educational institutions and corporate organizations to improve their learning and development programs.
The growing demand for distance learning programs, particularly in the wake of the COVID-19 pandemic, which has led to the closure of schools and universities in many parts of the world.
The rise of mobile learning and the increasing use of mobile devices for accessing eLearning content.
The development of new technologies such as virtual and augmented reality, which are enabling the creation of more immersive and interactive eLearning experiences.
What Expertise Should an eLearning Entrepreneur Have?
Starting an eLearning business requires a combination of skills and expertise to ensure that the venture is successful.
Here are some of the key areas of expertise that an eLearning entrepreneur should have:
Instructional Design
Instructional design involves creating effective and engaging learning experiences for learners. An eLearning entrepreneur should have a strong understanding of instructional design principles and how to apply them to create effective eLearning content.
Technology
An eLearning entrepreneur should have a good understanding of the technology used to create and deliver eLearning content. This includes knowledge of learning management systems, authoring tools, and multimedia production tools.
Marketing
To succeed in the eLearning market, an entrepreneur should have strong marketing skills to promote their eLearning content and services. This includes knowledge of digital marketing strategies, social media marketing, and search engine optimization.
Business Management
Running an eLearning business requires strong business management skills, including financial management, strategic planning, and operations management.
Industry Knowledge
An eLearning entrepreneur should have a good understanding of the education and training industry and the latest trends and technologies impacting the sector.
Communication
Effective communication is critical for success as an eLearning entrepreneur. This includes the ability to communicate with clients, learners, and team members effectively.
Project Management
An eLearning entrepreneur should have strong project management skills to ensure that projects are completed on time, within budget, and to a high standard.
What are the eLearning Market Opportunities for Entrepreneurs and Startups?
The eLearning market has experienced tremendous growth in recent years and is expected to continue growing at a rapid pace. This growth presents several opportunities for entrepreneurs looking to start their own eLearning businesses.
Here are some of the key eLearning market opportunities for entrepreneurs:
Custom eLearning Content Creation
Entrepreneurs can provide customized eLearning content creation services to businesses and individuals who need specific training programs tailored to their unique needs.
Online Tutoring and Coaching
With the rise of remote work and distance learning, entrepreneurs can offer online tutoring and coaching services to students and professionals looking to improve their skills.
Learning Management Systems (LMS)
Developing (or white labeling) a Learning Management System (LMS) that can help businesses and educational institutions manage their online courses and training programs.
Mobile Learning
As more people access the internet through their mobile devices, entrepreneurs can develop mobile learning platforms that allow learners to access training materials on-the-go.
Corporate Training
Entrepreneurs can provide corporate training services to businesses that need to train their employees on specific skills or knowledge areas.
Gamification
Entrepreneurs can incorporate gamification elements into eLearning programs to make them more engaging and interactive.
Language Learning
With the rise of globalization, entrepreneurs can develop language learning platforms that help individuals and businesses learn new languages.
Virtual Reality (VR) and Augmented Reality (AR) Learning
Entrepreneurs can use virtual reality and augmented reality technologies to create immersive learning experiences that help learners retain information better.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, white labeled multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
Our platform is ideal for our business partners as it allows you to launch a private, customized training environment for each of your corporate audiences.
We offer a complete library of ready-made corporate training courses, covering most every aspect of corporate training and employee development.
Our platform includes an embedded course authoring tool that enables most anyone to build engaging courses quickly and easily. So you can build your own courses, utilize our off-the-shelf library, or some combination of the two.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program.
The system also supports Virtual Instructor-Led Training (VILT) and provides tools for online coaching and social learning.
Contact us today to get started or visit our Partner Program pages