US eLearning Market Booming
The report forecasts expenditures for Self-paced eLearning products and online training services across ‘eight customer buying segments: consumer; corporations and business; federal civilian and military government; state and local government, Pre K-12 academic; higher education; NGOs, non-profits, and associations; and Healthcare.’
It also highlights areas of the market yet to adopt eLearning systems as Chief Research Officer Sam S. Adkins adds: “For example, the small and medium business (SMB) buyers were slow to adopt online training until the recent recession. There is now a relatively healthy demand for Self-paced eLearning products and services in the SMB segments.”
In the past two years the rate of growth for ‘Self-paced eLearning products and services has slowed, but recently the rate of decline has decelerated significantly and has actually stabilized in hard-hit segments such as the enterprise’. The outlook now seems very positive with the US market for Self-paced eLearning products and services reaching $16.7 billion in 2009, and with growing demand revenues will reach $23.8 billion by 2014.
This report is definitely an interesting read whether you’re an eLearning professional, Teacher, Instructional Designer or product vendor.