How the COVID-19 Pandemic Caused an Explosive Growth in eLearning
Updated: Jan 17
Conventional wisdom is that the COVID-19 pandemic was good for eLearning providers. And yet, while many eLearning companies and platforms were already accustomed to working remotely and delivering their product online, they were not entirely unaffected by the pandemic.
The fact is this: the COVID-19 pandemic has completely altered the way we work and play. Certainly, some of the changes that were foisted upon us were temporary — such as social distancing and indoor mask-wearing — but other shifts are far more permanent. Take the switch to remote working and learning. Hybrid work and learning environments have completely altered the way students and employees receive information and instruction. Even more, consumers and businesses are more empowered, with more eLearning tools at their disposal than ever before. In fact, according to a recent study, the online education market is set to reach $350 billion by 2025.
From language apps to virtual tutoring, video conferencing, learning management systems, and more - eLearning has never been bigger than it is today. And it will only continue to get bigger as we get deeper into the 21st century. Still, while the eLearning sector showed remarkable resilience in 2020, the social and economic impacts of the COVID-19 pandemic were huge, resulting in a massive shift in the supply and demand for online courses and effective learning management systems. While learning management systems have become more powerful and engaging, direct, in-person learning is not going anywhere anytime soon. How will companies thread the needle?
Who Benefits the Most from eLearning?
Who are the ideal customers when it comes to eLearning? Certainly employees and students are the first demographics that come to mind. The COVID-19 pandemic exposed this in sharp relief. For most people, the pandemic resulted in an almost limitless amount of time spent indoors. People suddenly had more time than they knew what to do to learn new things and expand their knowledge horizons. And that they did. Research shows that online learning increases knowledge retention by between 25 and 60%. It also decreases the time it takes to learn a topic by as much as 60% when compared to in-person learning.
Businesses have made use of eLearning in remarkable ways. As more employees shifted to remote work, web-based learning methodologies flourished. Why? Because how can you deliver critical training and continuing education courses if your employees are not in the office? Even more, how do you ensure your people feel engaged and empowered by the organization? For many companies, the answer was in eLearning. Businesses of all shapes and sizes plowed a huge amount of money into online learning services. Of course, there will be individuals and businesses that prefer in-person learning, but eLearning is here to stay and isn't going away.
Companies that produce innovative eLearning programs using things like virtual reality and learning concepts using 3D goggles have benefited greatly in the current atmosphere. Many eLearning platforms were already used in remote work and learning environments, but the pandemic accelerated the use of these critical products.
Why We Focus on eLearning Platforms
At Pluribus Technologies, we have made strategic investments in companies in the eLearning space. Over time, we have combined the efforts of these companies into one overarching organization, The Learning Network.
By combining cutting-edge software with top-notch user interface design, the companies that make up our eLearning portfolio are at the forefront of innovation in their space. We want to make sure that individuals and companies benefit from the advanced eLearning technologies our family of companies brings to bear.
Are you curious about how eLearning can benefit your business? Or perhaps you're an investor who wants to invest in a growth industry. Either way, it's time to take a closer look at the Pluribus family of companies!