Worth an estimated $165 billion at the end of 2016, the e-learning market is predicted to grow by a huge 7.2% year on year to reach approximately $325 billion by 2025. E-learning is on the rise across territories that have been slow to take up new technologies, including the Middle East.
There are many reasons why e-learning is taking off at such a pace, including budget cuts forcing classroom teaching to cheaper online methods, the amount of readily available technology, and the rise in demand for flexible learning. All of these are forcing the industry to expand, driving new ‘game-changing’ hybrids with simulation and gamification, such as our own Simulcation Datacenter.
Where’s the demand?
There’s a growing need for in-depth technical training for specific job roles that used to be fulfilled through dry and costly classroom courses. According to the Brandon Hall Group, more than 40% of professional education is job-specific, with the top three content subjects covering management, industry specific skills, and mandatory compliance.
Organizations are also growing increasingly dissatisfied with early-stage learning management systems, despite data showing that HR KPIs and implementing a learning strategy go hand-in-hand. That might be why a recent survey showed that nearly half of organizations were looking for new or innovative learning technologies, and 47% were revising their learning strategies around recent developments.
Among the top priorities for learning systems were better social and collaboration tools (cited by 43% of respondents), cross-device availability, and better data analysis. This reflects the changing nature of how we learn: many of us now learn on the go, making use of windows of spare time on commutes to catch up on new product features, for instance. Our classroom must now move with us. The levels of dissatisfaction shown in the Brandon Hall Group survey would suggest that learning systems have some way to go to keep pace with this desire.
Is it worth it?
If the results of the survey are anything to go by, yes. Around 40% saw their profits rise at least 10% after implementing a digital learning strategy, and 53% saw at least a 10% increase in engagement and productivity. Compared to the cost of traditional professional education, 26% saw a drop of at least 10% in budget required to deliver their strategy. We also know that people trained on simulations in particular ‘do their job better, have higher skills, retain information longer, and develop a strong belief in their ability and competence to perform in challenging situations’.
That’s why we created Simulcation Datacenter. By simulating the challenges faced by IT infrastructure professionals on a daily basis, students, employees and sales teams can gain greater confidence in their decision-making. It’s also fun and competitive, tapping into how gaming mechanics can boost learning. Try it for yourself. Find out moreand preregister for an account.