Corporate Adult Learning Market and Statistics
To perform a preliminary analysis of the adult learning market and metrics such as completion rates, choice of relevant programs, supporting social platforms, and benefits.
Adult Learning is described as the participation of adults with ages 25-64 in lifelong learning, meaning improving one's skill, competence or knowledge using formal, informal, and non-formal learning methods continuously. Once making this definition, we have further carried on our preliminary research.
- The e-Learning market size is expected to grow at an annual growth rate of 10.85% by 2025
- The corporate sectors are effectively engaged in enhancing their employee training programs that can lead to higher productivity.
- The global corporate e-learning market is expected to reach US$31 billion by 2020, with an annual growth of 11% during the period 2016-2020.
- By 2016, nearly 73% of the U.S. adults consider themselves lifelong learners, with 74% identifying themselves as “personal learners” and 63% as “professional learners.”
- The biggest impact for personal learners was feeling more capable and well-rounded (87%), while for professional learners the biggest impact was an expanded professional network (65%).
- Preferences change depending on age category but millennials give the most valuable benefit to training and development (22%) compared to cash bonuses (14%) or higher wages (4%), for example.
- Many organizations have observed that training sessions delivered with the help of web content such as video, simulation, and audio, instead of the traditional text, are more interactive and engaging. Thus, it is expected that the demand for web content will increase in the next few years.
- In 2017, 77% of U.S. companies used e-learning.
- Comprehensive training programs have a 218% higher revenue per employee. Employers spend of US$ 1.5K per employee/year on training, will improve profit margins approx. 24%. For every dollar spent on e-learning, companies make back US$ 30 in productivity.
- In 2015, 32% of employees in the U.S. were "engaged" and 51% were "unengaged".
- A study in Norwegian adults shows a substantial effect of upgrading formal education on subsequent labor market participation. Accomplishing a lower level tertiary degree has the largest impact on labor market participation. Completing a secondary education has a stronger long term impact on males.
- A combined approach that includes Social, Mobile, Analytics, and Cloud is a solution for the companies adopting e-learning that is compatible with their needs at the level of budget and adaptation to the changing market reality.
- Facilitating access to formal education among older workers may contribute to extend working lives.
- E-learning allows us to learn 5 times more material for every hour of training.
- Social media usage varies from country to country, but the spread of smartphones will likely make it worldwide. The advantages of using social media in adult learning are flexibility, stimulating collaboration, connectivity, and sharing resources.
- Common social media platforms used for e-learning include Messanger, Whatsapp, Twitter, Pinterest, Instagram, YouTube, and Facebook.
Proposed next steps:
You need to be the project owner to select a next step.