The Future of eLearning and Online Tools in 2020

In many ways, the events of 2020 have changed how we see the world. For businesses, though, many of the changes are only accelerating a movement already underway: pushing parts of the workplace online. ELearning has taken on new urgency for employers. Building out your capabilities in that area can help you prepare your team and your organization to grow into the future.

A Surging Industry

ELearning was already a huge industry worldwide. According to Global Market Insights, eLearning had a market size in 2019 of over $200 billion, with an expected annual growth rate of 8% through 2026. With the stay-at-home orders issued throughout the United States and the world, the industry seems positioned to surge even more quickly.

Schools and businesses alike have been pushed to adapt to learning without being physically together. With so much uncertainty about when normalcy may return — or what that normalcy will look like — these adaptations will likely remain in place long after the COVID-19 pandemic recedes.

Source: NewSchools Venture Fund. “Usage of Digital Learning Tools by K-12 Students Outside of School in the United States in 2019, by Frequency.” Statista, Statista Inc., 19 Nov 2019, https://www.statista.com/statistics/1076348/usage-digital-learning-tools-outside-school-k-12-students-us/r

Learning to Connect From Afar

Fortunately, the technology exists today to help people connect across diverse geographic locations. Many schools and businesses were already incorporating online activities into learning programs, whether through video modules or online submission of materials. The world is electronic, and learning that takes advantage of the benefits available has grown across industries.

In a time when human connection is diminishing, though, more organizations have started to use live video technology more. Whether school students are coming together from their homes in a community or large businesses are connecting from across the globe, video technology allows people to see and hear an instructor and each other. People unable to connect in person can still gain the benefit of interaction by participating in live learning events.

The Next Wave

Despite the available resources, the current growth in eLearning has largely consisted of reactive adjustments. Going forward, you should expect more organizations to develop materials and capabilities. Part of this is a new understanding of the inevitability of events like the COVID-19 pandemic. The next viral outbreak will come; it is only a question of when. If you do not prepare now, you may find yourself trying to catch up while your competitors are thriving.

Beyond this, eLearning gives you distinct advantages over in-person seminars and conferences. You can much more easily bring everyone together, regardless of travel schedules, for an eLearning event. You can present live, and if some critical team members cannot attend, you can playback the event at whatever time is convenient for those individuals. Further, by creating and recording critical and timely content, you can set yourself up to train new individuals with the same information over time.

ELearning may be new to you now, but the technology and industry experience involved have been around for some time. Developing your capabilities to use and develop your own eLearning opportunities will help you grow in a world that requires more adaptability than ever before.

The Future of eLearning and Online Tools in 2020

About the Author

Paul Kluzak, AVP, Business Development

Paul specializes in building relationships and educating a wide demographic on Nuvei's competitive advantage with specific focus on high volume accounts’ payments processing. He helps merchant resellers and payments industry professionals capitalize on opportunities with high volume.

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