As a serial entrepreneur who has helped launch three successful tech startups, I‘ve learned firsthand the challenges of training a small team on a tight budget. That‘s why I‘m so passionate about the potential eLearning offers small business owners seeking more affordable, flexible employee training options.
Over the past decade, I‘ve utilized various eLearning solutions to train new hires on our software and educate customers on getting the most value from our products. Time and again, I‘ve witnessed the benefits eLearning can provide small companies trying to do more with less.
To help other entrepreneurs determine if eLearning could be beneficial for their business, I‘ve compiled the latest eLearning statistics and trends shaping the industry. This data provides powerful insights into the current state and future direction of eLearning that can inform smart strategy.
As you‘ll see from the stats below, eLearning has experienced explosive growth across the corporate, academic, and government sectors. While the numbers tell an compelling story, I‘ll also share my perspective as an entrepreneur on the key takeaways and what they mean for small business owners evaluating eLearning in 2023.
Global eLearning Industry Statistics
The worldwide eLearning market has experienced massive growth as internet access and technology improve across the globe. Here are some key stats on the size and scope of the current eLearning industry:
- The global eLearning market was valued at $257 billion in 2022 and is projected to grow to $398 billion by 2028, expanding at a 9% CAGR. (Fortune Business Insights)
- As of 2021, the eLearning market in North America accounted for $119 billion or 43% of the worldwide market share. But Asia-Pacific is seeing rapid adoption, growing at 17% CAGR. (Mordor Intelligence)
- In 2020, 77% of U.S. companies offered online learning to employees and managers. Adoption is even higher among large corporations, with 98% utilizing eLearning. (Training Magazine)
Key Takeaway: eLearning is already mainstream, especially among large corporations, creating a massive market. The growth opportunities are even bigger internationally.
As a small business owner competing for talent with big companies offering slick eLearning programs, these numbers tell me it‘s essential to leverage eLearning to remain attractive to modern professionals who expect on-demand, digital training options.
The good news is that with the maturation of the eLearning industry, there are now many affordable platforms and tools we can utilize. By getting creative, small businesses can offer eLearning that rivals large corporations.
Benefits of eLearning for Small Teams
In addition to being affordable and accessible, eLearning offers other benefits that make it a smart choice for small business teams:
- Employees retain 25-60% more information from eLearning courses than traditional classroom instruction. (Brandon Hall Group)
- eLearning requires 40-60% less time than classroom training and students learn material in half the time. (Brandon Hall Group)
- Companies that incorporate online learning report 50% higher net sales per employee compared to companies with minimal eLearning. (ATD Research)
![Table comparing efficiency metrics between classroom and eLearning]
|Speed to Absorb
Key Takeaway: The data makes a compelling case that eLearning drives better training results in less time for small teams
These efficiency gains directly translate to cost and productivity benefits. In my experience, eLearning allows our small business to train new hires rapidly so they can contribute faster.
For customer training, eLearning courses have proven more effective than product manuals. Customers that take our eLearning courses have fewer questions and get up to speed on our software‘s full capabilities faster.
Current eLearning Trends
Along with continued market growth, several exciting new eLearning trends are emerging that small businesses should be aware of:
- Microlearning – Short (5-10 minute) eLearning videos focused on discrete skills are gaining popularity for their simplicity and flexibility. These bite-sized learning chunks work well for small teams.
- Gamification – Game elements like points, levels, and rewards are being incorporated into eLearning to boost engagement. This trend works well for training millennials and Gen Z team members.
- Social eLearning – Platforms are facilitating collaboration and shared learning through features like discussions forums and messaging. Small teams can benefit from peer knowledge sharing.
- Mobile eLearning – Learning on smartphones and tablets is forecasted to grow 15% per year thanks to expanding mobile access globally. This allows small businesses to train on the go.
![Chart showing top eLearning trends]
|Top eLearning Trends
Key Takeaway: Taking advantage of new eLearning innovations can help small businesses maximize limited training resources and budgets.
These eLearning trends point toward bite-sized, engaging, collaborative training that works well for small teams. Based on my experience, I suggest small businesses embrace these trends to connect with and develop both younger employees and remote staff.
Microlearning, in particular, is a cost-effective way for small businesses to address narrowly focused training needs. And adding some friendly competition through gamification has proven effective with our customer training.
The Bottom Line for Small Business Owners
Reviewing the data and trends makes a strong case for small businesses investing in eLearning. But I suggest first considering a few key factors:
- Your business training needs – Look at gaps eLearning could fill as well as opportunities for improvement
- Your target audience – Will your team and customers embrace online learning?
- Your tech capabilities – Do you have the tech expertise to implement eLearning? If not, consider a simple plug-and-play platform.
- Your available budget – Calculate potential cost savings from eLearning to determine feasible investment
Additionally, don‘t be afraid to start small. Many eLearning platforms offer affordable pricing for smaller teams. You can pilot eLearning with just a few key courses and expand based on results.
I hope this data provides valuable insights as you evaluate whether eLearning should be part of your 2023 small business strategy. Feel free to reach out if you need any advice or suggestions on getting started with eLearning. I‘m always happy to share what I‘ve learned making eLearning work for my own small companies.