The rise of digital media had a strong influence on uplifting the online education industry. People have adopted the online learning way in their daily routine after the imposed lockdown due to COVID-19. The schools, universities and big businesses are working remotely. The online education market is expected to rise at $350 billion by 2025 according to Research and Markets forecasts.
Many online learning apps are available in the market that is experienced in their industry and their courses have helped hundreds of students and professionals mould their career. Udemy, Coursera, Lynda, Skillshare, Udacity, Unacademy are some online learning apps/websites that are getting shaped by different user verticals. Skillshare mostly provides animated courses for creative people, Coursera provides academic content giving access to university courses.
According to a recent trend (last decade), top-tier universities preach the learning by making courses accessible online. Global universities provide a variety of courses for avid professionals according to their subject areas of interest. Some of the Top Universities offering Free Online Courses: Harvard University, University of California, Irvine, Georgia Institute of Technology, École Polytechnique, Michigan State University, California Institute of the Arts, Hong Kong University of Science and Technology, UCL (University College London) and Massachusetts Institute of Technology (MIT).
Amidst the appetite of the people to grasp new things and implement the subsequent skills in their work domain, the biggest challenge that triggers them is to figure out what skills are emerging. With the transformative world around, the skills you acquire today might become outdated by 2025. Online learning is in itself a huge catalyzer for people and companies to help the adoption of this rapid change in the world.
Online learning platforms assimilate the data collected from users (the search history, the frequency of using a course, the subjects that they are interested in) with the machine learning algorithms to enhance the learning patterns of people. ML Algos recognize patterns that can personalize the content for each individual. In case a student struggles with a course, the course moderators can help with examples, images, infographics, audio and video visuals to make the course content more comprehensive to help the student.
The AI-enabled chat-window provides instantaneous feedback loops inside the platforms which improve the learning curve. Online class discussion helps the reticent lot to participate in face-to-face discussions.
Students and professors can schedule their online classes according to their convenience and this represents a huge opportunity for entrepreneurs to increase their knowledge assets rapidly.
The revenue generated from the e-courses is divided into two parts: One part goes to the instructor and the second part goes to the owner of the website/app. E-learning applications provide a personalized solution for the students with no commuting costs, and no tangible course material requirement. App development companies build e-learning app services in a way to make use of big data and virtual reality to be lucrative and democratize the learning aspect for distant students. This has a dual benefit for the universities who no longer have to invest a quarter of their budget in large physical premises that host their lectures.