12 Surprising Facts & Figures About Online Learning
Web based learning has revolutionized education; it has enabled millions of people to receive an education without having to leave their house. It was Jay Cross, an American futurist who promoted the e-learning concept during the late 90’s. Here are some facts about e-learning that you did not know:
Fact 1: The E of e-learning was not only intended to signify electronic but also as exciting, energetic, enthusiastic, emotional, extended, excellent and educational. (Source: Origin Learning)
Fact 2: There are more than 130 billion online students on the earth. Moodle alone reported that 25 million registered students have enrolled in 2 million courses. (Source: YouTube)
Fact 3: The e-learning industry observed tremendous growth between 2001 and 2005 and rises consistently every year. Almost 28% of formal learning minutes are spent on the web by students. Learning online is considered to be more productive than instructor led training. (Source: YouTube)
Fact 4: The LMS market is expected to be a $7.8 billion industry by 2018. Over 87% of students use online LMS solutions with cloud storage technology. (Source: Capterra 12)
Fact 5: Corporations can economize their production cost from 50% to 70% when employees are trained with the help of e-learning methods over educator based training. (Source: YouTube)
Fact 6: 80,000 Google employees enrolled for Udacity’s HTML5! This is an extraordinary example of using a MOOC to empower workforce. (Source: ExtensionEngine)
Fact 7: Around 25% of employees quit their jobs because of poor training and learning experiences. eLearning opportunities can help companies earn more than 26% revenue from each worker. (Source: Origin Learning)
Fact 8: The LMS market size was valued at around $165 billion in 2015 and continues to grow at 5 percent every year. At this rate, it could hit $240 billion by 2023.
Fact 9: There are more than 3 million online-only students in the US. It is more than the total number of college students in France. Around 77% of the American corporations completely rely on internet learning. It was just 4% in 1995. (Source: YouTube)
Fact 10: The United States and Europe rule the global eLearning market with over 70% share in revenue. Asia could overtake the US in five years. (Source: YouTube)
Fact 11: Ernst Young shortened 2900 hours of classroom training into just 700 hours of web based learning. (Source: YouTube)
Fact 12: American companies spend a total of $150 billion annually on learning and development. 30% of learning is technology based. There was a 250 percent spike in sales at Rolls-Royce thanks to an online sales training program. 80% of training programs are conducted online at Reuters. (Source: YouTube)
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