As a result of COVID-19 officially being ruled a pandemic, the eLearning economy is being used in an entirely different way. Now, the students who have faced an educational standstill due to their campuses and schools being closed can continue their educational journey from a virtual standpoint. Interestingly enough, online classes seem to be the only way to keep our students’ brains turning during this pandemic. However, it’s important to understand that eLearning isn’t new – it’s just in its prime, unfortunately to the credit of our detrimental state of human health.
With this being said, it’s unlikely that online learning will fade even after we defeat this virus. In other words, students are loving their new approach to education. The latest tech trends in eLearning include virtual reality lessons to eliminate distractions and increase engagement, augmented reality to deliver a more capturing learning experience, artificial intelligence such as chatbots, and multi-category video. After being exposed to high-level EdTech, more students than ever want to remain enrolled in e-school until graduation.
As previously mentioned, online learning isn’t new. 63% of those who were already attending e-school before the COVID-19 outbreak say they choose online education due to the fact that it works best with their current work/life balance. However, the rise of EdTech has made more than 40% plan to return to their alma mater to take more classes.
Overall, the COVID-19 pandemic has given the eLearning market a major boost in revenue. By 2025, the eLearning market will reach $300 billion in value, and 72% of organizations believe eLearning puts them ahead of their competition. Here’s how: for every $1 a business spends on distance learning software, their productivity increases by $30. This is because students who learn online take in 5x the material per hour when being trained.