With the global e-learning market set for a compound annual growth rate (CAGR) of 13% between now and 2027, e-learning software makers iSpring and Vyond have teamed up in the channel to grow sales.
According to The Business Research Company, the global e-learning market was flagged at $250bn (£205bn) in 2022 and is forecast to expand to a total $460bn in 2027 — a CAGR of some 13%.
“E-learning is a type of learning that takes place digitally through an electronic medium, usually the internet. It is a convenient and adaptable approach,” the company said in the introduction to its E-Learning Global Market Report 2023.
The market analyst reported that e-learning, which can include a range of software, services and hardware, not only means students can take lessons wherever they happen to be but enables organisations to inject creativity and interactivity into their training programmes, using video, animations and other media to influence engagement.
“Remote learning trends enforced by the global pandemic are expected to propel the growth of the e-learning market,” the company said.
Video editing software maker Vyond and e-learning toolkit vendor iSpring Solutions have teamed up in EMEA to offer a bundle until 31 December through channel partner QBS.
“iSpring and Vyond enable learners to learn interactively and stay engaged,” the distributor said in an announcement.
“Clear and informative animated videos can increase engagement and retention, as well as improve completion rates.”
iSpring develops applications aimed at simplifying content creation and automating training programmes to improve learning. In 2023, it boasts customers from 170 countries, including some 200 Fortune 500 companies as well as government agencies and education institutions.
Vyond, which recently added generative-AI tool for scripted video making, gives organisations an easy way to create animated video content, which can then be delivered to staff online. According to the company, around 65% of Fortune 500 companies and “tens of thousands” of SMBs already use its software.