According to Custom Market Insights (CMI), the Global E-Learning Market size is expected to reach USD 281 billion by this year itself and has the potential to reach around 848.1 Billion by 2030. The overall growth of the market will be at a compound annual growth rate (CAGR) of 17.53% from the current year to 2030.

E-Learning-Market

Source: www.custommarketinsights.com

The data is provided in a research report titled “E-Learning Market Size, Trends and Insights By Technology (Online E-Learning, Learning Management System (LMS), Mobile E-Learning, Rapid E-Learning, Virtual Classroom), By Provider (Service, Content), By Application (Academic [K-12, Higher Education, Vocational Training], Corporate [SMBs, Large Enterprises], Government), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030”.

Online learning involves electronic gadgets such as mobile phones, laptops, tablets, computers, and others and has four main types that include one-to-one, groups, video-based learning, and course-centric learning. Some of the online learning platforms include Byju’s MOOCs or Massive Online Open Courses, Coursera, UpGrad, Udemy, and others. All these learning platforms require smart devices and a reliable internet connection.

There are a number of factors that lead to the market growth including technological advancements, improvement in electronic product development, and easy accessibility of the internet. With these developments, the market is evolving and various companies are now putting their focus to strengthen and consolidate R&D activities and drive market growth.

The digital age has impacted every sector of human life. Be it in the arena of entertainment, information, and even in the field of education, digitalization has impacted a lot. Talking in the sphere of education, online tutoring has got a huge hike in the previous years due to its advantages over the traditional education system. With the outbreak of the pandemic, tutoring online has got a great boost, making it a “new normal” and turning into a future-proof thing. Being a convenient choice, demand for tutoring online is spiking high throughout the globe.

Whether in terms of online tutoring institutes or individual tutoring sessions, there is immense potential seen in online education. If you are regularly educating students through an offline medium, why not go with an online medium and educate at your convenience? Wondering how? We are here to help you to make it a reality and rise in the arena of tutoring and educating online.

Understanding Online Tutoring

As simple as the name suggests, online tutoring refers to teaching virtually where teachers and students are participants. It can be one to many, where a tutor teaches a number of students, and one to one where the teacher teaches a student at a time. It comes in different formats including delivering content in different manners like delivering Video On Demand, Live Streaming, Audio On-Demand, Written Content including several others. Tutoring over a video, whether through live streaming or VOD, is a way of generating immense revenue. With the e-learning sector getting further, it is a great time to get started with online tutoring and make profits with it. Becoming a tutor is not that tough task but rather requires a firm idea, the right thought to implement, and a way to make the platform reachable to all. 

It is all known that tutoring online has become a common thing. But have you ever thought about why several platforms are at the forefront and some are rarely making their presence visible? It is all due to the steps and the strategy that one is following and starting with since it is about planning and following the right steps in the way to becoming the best in the market. Some of the crucial things are listed below:  

Decide Your Niche Of Education

Before establishing it as a wholesome business making an immense profit, it is quite crucial to get a niche over which you want to educate your learners. It can be school-based content or content belonging to a specific area or a specific exam. It is quite crucial to decide what you are going to educate and which age section you are going to target. The way, behavior, and manner of presenting the content and its quality should totally depend on that. 

Choosing The Technology

Since online education is through and through virtual, it will surely demand some specific technological solution to get your business in the market. Technology has changed way too much, and now putting your classes on the YouTube channel is not enough to make a mark in the market. Depending on the content and the targeted audience, one should choose the right technology and get the right platform to educate the targeted audience. 

Going with a top-notch platform is the need to disseminate quality education to a dedicated audience. It has a higher potential in making profits thereafter.

Search For Best Launching Time

The last thing one should remember to become an established tutor is to choose the right time to launch your platform. You need to promote the platform before launching it to a larger audience. For instance, if your targeted audience is school children, you just can’t launch the platform at the time of examination. Either you have to launch it before exams to get the content covered or start fresh when the new session is going to start. Apart from that, always test the platform before going live with it. 

The best way to make a mark in the market is to keep yourself updated with the latest content of the sphere, analyze the market regularly and keep yourself updated with the works of the competitions. 

Educating online is not an easy task. Getting a platform of your own seems easy but what if you are not able to sustain it for a longer time or you were not able to make a profit as per the cost you have invested in making the platform? Figure things out in a clear manner and then go ahead to make the platform available for the whole world. 

Are you aware that around 83 percent of organizations use Learning Management System to educate? The LMS market is expected to reach a value of around $23.21 billion by next year. According to research by the ATD, 73% of respondents said that their use of LMS has risen considering the past two years. All this indicates that there is no lookback scenario in terms of LMS, it is going to rise rather than remain stagnant. This is all about data that has come up with the research but are you totally aware of what it is in real terms. 

With every technological development, there is a profound change in the arena of education. The evolution in the field of information and communication technology or ICT has totally changed the course of educating and prevailing learning practices.

What Are Learning Management Systems?

A learning management system or popularly known as LMS is a software app that provides a base framework that takes care of all aspects of the learning process. It includes where to house, track and deliver your content. The other name of the platform includes a training management system, a learning experience platform, and even a learning activity management system. 

There are instances where people have often concluded that LMS is similar to LCMS (Learning Content Management System). But, these are not the same things. An LCMS is used by authors that help them to manage learning content. Both the systems are complementary to one another but are not the same.

Benefits Of Learning Management System

There must be a bundle of benefits that the educators have got with the learning management system. Let’s dive and understand why the system is flourishing with so many colors in the present era.

Cost-Efficient

Educating through an LMS reduces the cost of education. It is all due to the saving of the traveling cost, saves on the infrastructure cost, and utilizing training expenditure. 

Consistency In Training

Course and training delivery is comparatively consistent to all the learners as it is centralized. It provides consistent learning and training quality to all learners by providing them with a single source of content, study material, and instructions. 

Tracks Performance And Progress Of The Learner

LMSs help to generate the training report according to the performance and the progress that the learner has made from his or her initial point till now. By using and utilizing an LMS for various courses, trainers can easily track regular progress, improvement in skills/knowledge, ROI, and things around that. 

These are just a few of the benefits that LMS provides but there is a lot of potential in the same. Nevertheless, these are the most known points and top identifiers to let you decide whether or not you should go for a Learning Management system.