By Tyson Greer, Chief Executive Officer
Seattle, WA - July 15, 2011 -According to a new report by Ambient Insight, the worldwide market for Self-paced eLearning products and services reached $32.1 billion in 2010. The five-year compound annual growth rate (CAGR) is 9.2% and revenues will grow to $49.9 billion by 2015.
The report is called "The Worldwide Market for Self-paced eLearning Products and Services: 2010-2015 Forecast and Analysis," and analyzes expenditures by seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia, Middle East, and Africa.
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"North America will be the top buying region throughout the forecast period," comments Sam S. Adkins, Chief Research Officer. "In the 2010 market, Western Europe accounted for the second highest expenditures. By 2015, Asia will account for the second highest expenditures after North America. Eastern Europe, the Middle East, and Africa represent significant long-term revenue opportunities for suppliers and we have revised forecasts upward for those regions."
A consistent pattern across the globe is the growing demand for Self-paced eLearning in government agencies. Many countries, such as Mexico and China, have centralized educational systems and they are the primary buyers of academic content, outspending corporate buyers in those countries. Ambient Insight reports that consumers are the top buyers in South Korea and Japan.
"The global market is transitioning from a corporate story to an academic narrative. Expenditures were once highly concentrated in the corporate segment," reports CEO Tyson Greer. "This is no longer the case. The most significant revenue opportunity for suppliers across the planet is the demand for academic content across the educational spectrum from preschool to higher education to vocational training."
Revenues for five types of online learning products are forecast in this report: packaged content, custom content services, hosted SaaS learning platforms and tools services, authoring software tools, and installed learning technology.
"Expenditures on Self-paced eLearning are often heavily concentrated in specific countries in a region," adds Adkins. "This report ranks the top buying countries and provides five-year forecasts for each of those countries. Additionally, over 200 domestic suppliers are called out in this report. This helps suppliers inside and outside domestic markets find partners, resellers, and potential acquisition targets."