One of the best things about the web, in my opinion, is the fact that practically everyone has access to academic help these days. From the genius of the not-for-profit Khan Academy to personal online tutoring with some of the best teachers in the world regardless of where you are, it is amazing what someone who has the willingness to learn can master these days.
Forget the people who still believe that e-learning can never replace “real learning”. All of us who have learned something from the web, especially who have been tutored over the web, know for a fact that e-learning is real learning and there are no two-ways about it. And if you must have a 3rd party official statistic, 2011 Towards Maturity Benchmark Survey reported that 72% of the 600 companies they surveyed said eLearning helped their business adapt more quickly to change (an increase of 11% on 2010 survey results).
Here’s the great thing for entrepreneurs looking to get into the industry. Numbers show that e-learning rang in US$56.2 billion in revenues in 2012 with trends showing growth into a US$107 billion market by 2015 with Asia-Pacific taking the lead.
To whet your appetite further, New Ambient Insight Reports that the Asian eLearning market is expected to reach US$11.5 billion by 2016. Two countries with the highest annual growth rates are Vietnam (44.3%) and Malaysia (39.4%) with Thailand, Philippines, India and China, following closely behind (30%-35%).
And the whole thing makes perfect sense. Costs are brought down considerably while efficiency and efficacy is brought up, dare I say, exponentially. And while I mention stats for corporate e-learning, and have none for personal e-learning, I am still certain that the space is also set to continue to rise. After all, who wouldn’t want to get help and pay only for what you actually need? I mean, how much of traditional tutoring is really just baby-sitting (but ok, some parents do need it to be a baby-sitting exercise that happens to involve getting the homework done).
I know if I could dial back to my college days when I had the roughest time studying Calculus, it would have been awesome to have something like http://eduboard.com/math/ to just get some clarity on a problem.
Now, I have personal language tutors who work around my schedule and give me access to material that would have cost me an arm and a leg before. The options for today’s life-long learner are manifold and readily available at a reasonable cost.
Food for thought for today’s entrepreneurs seeking more opportunities.