According to our latest market study on “Singapore E-Learning Market Forecast to 2027 – COVID-19 Impact and Analysis – by Delivery Mode (Online, LMS, Mobile, and Others), Learning Mode (Self-Paced and Instructor-Led), and End User (Academic and Corporate),” the market was valued at US$ 792.97 million in 2019 and is projected to reach US$ 2,228.74 million by 2027; it is expected to grow at a CAGR of 13.6% from 2020 to 2027.
Education technology solutions are becoming popular in Singapore's schools and higher education institutions, providing a digital platform for documenting and tracking online education. E-learning leverages gamification by quickly tracking students' progress and improving their interactions with teachers and other students. Also, the popularity of e-learning is increasing in Singapore due to the need of systems such as Learning management system (LMS) and analytics, which are used to understand and upgrade the learning process. This further encourages vendors to integrate learning modules, such as gamified learning, into software systems.
With the increased use of smartphones, there has been faster adoption of mobile learning technology in the Singapore. Many application-based knowledge platforms are being developed that enable users to gain real-time insights into any topic using their smartphones. A few educational institutions and universities are developing mobile-based applications that will allow students to log on to the student portal and access missed lectures. For example, Appstronic, an e-learning solution provider in Singapore, specializes in developing e-learning courseware, setting up an LMS, and mobile e-learning apps. The Udemy, Skill Pill, DesignJot, and BoostHQ are among the current prominent mobile applications that are in use in the corporate sector. Also, the market players offer a game-based application platform that uses interactive animated videos and pictures to teach children. These technologies allow schools to improve their students' logical and reasoning skills, and IQ.
Impact of COVID-19 on E-Learning market
As per the World Economic Forum, more than 1.2 billion children are out of classrooms due to the COVID-19 pandemic, with schools shut down globally. Electronic learning management systems like Google Classroom help classes connect distantly, communicate effectively, and stay organized. In Singapore, most of the students go through a few days of e-learning at some point in their lives. However, the online education has become mainstream method in the last few months due to the COVID-19 pandemic as the government has closed schools and universities to reduce the transmission risk on campuses. This change has led to increased adoption of methods such as live broadcast lectures, video conferencing lessons, and online evaluations. Moreover, in Singapore, mergers and acquisitions and partnerships are critical for the implementation of the master plans for e-learning and growth of various e-learning-related projects. For example, the IT Standards Committee, an industry partnership supported by SPRING Singapore, and the Singapore Infocomm Development Authority have developed an e-Learning Framework specification that lays e-learning standards, including approaches to the development of courseware for different environments. Further, mobile learning, micro-learning, social learning, and corporate Massive Open Online Courses (MOOCs) are the emerging trends that boost e-learning market revenue in Singapore. The COVID-19 pandemic has further driven the demand for e-learning solutions among students and the corporate sector in Singapore.
The report segments the global e-learning market as follows:
By Learning Mode
- Self-Paced
- Instructor-Led
By End User
- Academic
- Corporate
- Company Profiles
- AntoreePte. Ltd.
- Gem Learning
- Coursepad Pte Ltd.
- Gnowbe Group Ltd.
- Inchone Pte Ltd.
- KooBits Learning Pte Ltd.
- Kydon
- Marshall Cavendish Education
- Xiamen Phoenix OneSoft CO., LTD.
- Wizlearn Technologies