Atlanta, GA – Scibility Media – 11/11/2014.
Online learning or e-learning is the most trending sphere now. The immense potential hidden in eLearning is visible from the latest reports of 2014 statistics. According to various research reports, the money spent on self-paced eLearning is expected to double in 2015 from $56.2 billion in 2013.
At the same time, businesses and corporations have reported that they have been able to cut down costs by 50% and instruction time by 60% after replacing the traditional method with e-Learning. According to The Research Institute of America, while an average of 4.6 students out of ten undertook at least one online course in 2013, more than half of the college students will embrace eLearning by 2019.
In addition through e-Learning, nearly 90% less energy will be consumed, while the CO2 emissions could be cut down by as much as 85% per student. Another interesting development for e-Learning is that more than 41.7% of Fortune 500 companies across the globe are fast switching to this methodology to instruct their employees.
Asia will be the frontrunner in adopting to self-paced e-Learning in the next five years with an anticipated growth rate of 17.3%. Nearly 72% of the corporations said that e-Learning helped them to remain competitive and have been able to generate 26% more revenue per employee.
Career Education Corp’s Successful e-Learning Implementation
One such example of successfully integrating traditional courses with e-Learning is seen at Career Education Corp. (NASDAQ:CECO), which has been able to strengthen its academic outcomes. Career Education Corp. (NASDAQ:CECO), an education institution in the U.S., launched its adaptive learning tool dubbed as ‘intellipath’ last year. Initially, the company made 300 online course sections available and later worked to include more components on to the platform.
Adaptive learning engages data-based tools to create coursework that connects itself with individual student’s abilities. The platform helps strengthen a student on his/her weak points and excel further on strong points. During the management discussion of the company’s third quarter performance in 2014, Career Education Corp. (NASDAQ:CECO) stated that it has been able to improve student pass rates through the use of this platform. The successful execution of the company’s strategy has enabled it to gain fruitful results in the third quarter. The company’s strong initiatives, including adoption of Intellipath has positioned it in a stronger position amid regulatory headwinds.
Chegg’s Undivided Focus On Self-Paced Learning
Similarly, Chegg Inc (NYSE:CHGG), a learning platform, is rapidly making progress in the field of e-Learning. The company helps students to save their time and money through its digital offerings such as Student Hub and eTextbook. Chegg Inc (NYSE:CHGG) has partnered with a range of players in the education industry such as publishers, colleges and brands, so as to create a first-of-its-kind learning platform for students. The growth in the digital learning for Chegg Inc (NYSE:CHGG) has been phenomenal. For instance, it generated net revenues of $81.5 million during the three-month period ended on September 30, 2014.
In the direction of enriching its existing learning platform, Chegg has made a series of acquisitions lately. The most recent of its acquisition include Internships.com, a branch of CareerArc Group LLC. Moreover, Chegg took over InstaEDU, Inc. on June 5, 2014 that helped it bolster its digital offerings. Meanwhile, Chegg has reiterated that it will continue to focus on strengthening its digital offerings, particularly towards improving technology for Student Hub and the Student Graph.
SIBE’s Growing Participation
Apparently, another player, Sibling Group Holdings Inc (OTCMKTS:SIBE) is also seeking growth opportunities in the E-learning space. Reportedly, the company’s Blended School Network (BSN) has agreed to contribute to BloomBoard, Inc. online resource library. BloomBoard offers a professional development platform to teachers, and Sibling will provide its content to the resource library. BloomBoard is confident about its growth as it expects more than 250,000 teachers to use its platform by the start of 2014-2015 school year.
Sibling Group Holdings Inc (OTCMKTS:SIBE) is already focussing on acquiring relevant businesses to strengthen its e-Learning portfolio. It bought BSN earlier this year, which already has a professional development suite to support K-12 teachers and administrators and has already assisted more than 30,000 teachers so far.
Last month, Sibling Group Holdings Inc (OTCMKTS:SIBE)’s BSN also partnered with LoudCloud Learning Management so as to make its content available on the latter’s platform. The agreement was made to make its accessibility easier to K-12 students. Again, in mid-September, BSN has announced the availability of its teacher professional development course online on Udemy. Thus, in one way of the other Sibling Group Holdings Inc (OTCMKTS:SIBE) is trying to set its root deeper into the growing e-Learning industry.
The recent developments taking place at three prominent players in the education industry have only helped to build a promising image of e-Learning industry. One could justify the future prospects on the basis of IBIS Capital projections about the growth potential in e-Learning area. IBIS forecasts the segment to grow fifteen fold in the next ten years.
Moreover, e-Learning will occupy 30% share of the education market, according to IBIS capital. In view of which, the recent measures taken by Career Education Corp. (NASDAQ:CECO), Chegg Inc (NYSE:CHGG) and Sibling Group Holdings Inc (OTCMKTS:SIBE), should be seen as early steps towards creating their foundation. This should help them lead their way in the future.
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