Published On: Fri, May 14th, 2010

Ambient Insight: eLearning to be $49.6 billion by 2014

EduShine Academic Search

According to a new report by Ambient Insight titled The Worldwide Market for Self-paced eLearning Products and Services: 2009-2014, Forecast and Analysis, eLearning will be a $49.6 billion market by 2014.

The report declares that the global market for eLearning reached $27.1 billion mark in 2009 and that the demand has been growing at a five-year compound annual growth rate (CAGR) of 12.8 percent. The revenues are projected to reach $49.6 billion by 2014. North America is expected to top the demand charts throughout 2009-2014 forecast period. In 2009, western Europe accounted for the second-highest expenditures, says chief research officer Sam S. Adkins of Ambient Insight. By 2014, Asia is slated to overtake western Europe and account for the second-highest global expenditure on online education, toeing the North America demand line. The report also provides forecasts of expenditures for five types of online training products and services across seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia, Middle East, and Africa.