Over the last few years, the elearning industry has gone from strength to strength. But what exactly is it? Elearning offers the ability to learn from anywhere in the world. Gone are the days where you have to sit in the classroom. Now you can study at your own pace in your own way. Online courses can be accessed via smartphones, tablets, laptops and more, perfect for those with a busy lifestyle. The range of courses available is also impressive with everything from short courses to online degrees.
Since the COVID pandemic, more and more people have resorted to learning online. In fact, many employers are also using digital learning opportunities as part of their professional development strategies.
If you have recognised the potential that elearning offers, it’s important that you get to know the market. Perhaps you are thinking about creating an online course or maybe you have already launched one. Understanding the industry will enhance your course and help you stand out from the crowd.
In this guide, I will take a look at some of the most impressive statistics and trends in 2022 to help you get started.
94% of online students prefer microlearning
Microlearning is basically the concept of breaking down information into bite-size chunks. While it may sound pretty obvious, it is actually a fairly new approach to learning and one that seems to be increasing in popularity. In fact, 94% of elearners prefer this style of teaching compared to more traditional forms of learning. If you are thinking of creating an online course, be sure to take this into consideration and break your content into more manageable chunks. Not only will it increase student engagement and completion rates but it will also make your course far more attractive.
Game Based Learning is Growing
Simply put, gamification makes learning fun. Game based learning is an innovative alternative to traditional online learning. It’s engaging, interactive and rewarding, and it looks like it’s going to stick around for a while. In fact, the game based learning market is expected to be worth $29.7 Billion by 2026. While this learning style may not fit in with your course, it’s always useful to be aware of the current trends.
Artificial Intelligence (AI) is not a new concept but its significance has become even more noticeable in 2022. AI is used to personalize the elearning experience by using algorithms to offer course recommendations. When it comes to statistics, 2019’s Gartner CIO Survey claims that 37% of businesses had implemented a form of AI in 2019, an increase of 270% in just four years. AI frees up time for businesses and other professionals in the online learning industry, offering more time for things like content creation and marketing.
In 2021, elearning apps ranked amongst the top three most used categories. For people who are always on the go, apps offer the ability to learn straight from your smartphone like Apple. When it comes to statistics, the number of people accessing courses on their smartphones has increased by 20% over the last few years, with an estimated value of $80 billion by 2027.
Holding a student’s attention can be tricky and interactive courses can help maintain engagement. According to Kaltura, 82% of enterprise employees prefer interactive videos when studying online. When used correctly, videos can be a great way to engage your students and share important information. The trick is to keep it short, relevant and interesting.
Soft skill subjects
In 2018, a LinkedIn survey concluded that teaching softs skills is the top priority for corporate talent providers. Soft skills include leadership, communication, teamwork and critical thinking. They can be a valuable asset to any job, with one third of Americans valuing soft skills over technical ones. So, if you are still building your course, consider whether you can offer soft skills too.
Business is the Most Popular Topic
When it comes to popular course topics in 2022, business comes out on top with 56% of graduate and undergraduate students enrolling in online business courses. Other popular topics include health, technology, medicine and IT. Do not worry if your course doesn’t teach one of these topics, though. It just means that you may need to work harder to reach your target audience. But onthe other hand, you’ll also benefit from less competition!
Over half of elearning students do not participate in course material
According to Science, 52% of elearning students do not participate in the course material at all. That’s a pretty surprising statistic. While we want to make money as entrepreneurs, we also want people to value our work. If half of your students are not engaging with the course, then they are also not benefitting from the knowledge that you worked so hard to share.
Before creating the next course, think about different ways to engage your students. Perhaps you want to create an online community where they can connect with one another and ask questions. Maybe it just means looking at your content and ensuring that the information is easy to digest.
Average Course Prices
If you have ever worked in the elearning industry, then you probably know that pricing a course can be quite tricky. When Podia conducted a survey on their courses, they concluded that the average course price was $137. The average range, though, was between $0-$304. This is a pretty big range for first time course creators and getting a course price right can all feel a bit overwhelming. Use these figures as a starting point and connect with other like minded professionals to find out what they charge.
In case you are wondering whether people are likely to pay for your course, the answer is yes. According to a study led by The University of Michigan, completion rates on free courses are far lower than paid ones. The study also found that when a free course offers certificates for an additional fee, completion rates tend to increase. This suggests that students are more committed to a course if they have already invested into it.
Future potential /outlook
When it comes to elearning statistics, it’s safe to say that the future is looking bright. According to Technavio, the size of the global e-learning market will increase by USD 147.7 billion between 2021-2025. Over the last five years, enrollments on Coursera have increased by 438%. The elearning market itself is expected to hit $350 billion, proving that online courses are an excellent investment.
As you can see, creating an online course offers a lot of potential. Statistics suggest that the elearning industry is in good shape with a market that continues to grow. Since the pandemic, people are more attuned to the idea of learning online and the freedom it provides. Online courses are way more accessible and far less time consuming.
As I have said before, they are also a great way to make money. With so much growth in the market, 2022 is a fantastic time for coaches and creatives to start building a course. The great thing about online courses is that they can be automated leading to a passive income and more time on your hands. So, if you are looking for that perfect work-life balance, creating an online course is certainly one way to do it.