Online training is growing by leaps and bounds. As a consequence, its a very exciting time to be involved in the training industry.
The following facts help to demonstrate the direction of the training industry and will show you exactly why if you havent moved to online training today, you need to do so ASAP!
- Corporate training is a $200+ billion industry. Elearning represents $56.2 billion of this. By 2015, this will grow into a $107 billion market. – Global Industry Analysts
- 85 cents of every dollar is tied up in delivery of information (instructor time, travel, etc.) – CertifyMe.Net
- US training organizations grew their spending by 12% in 2012 – Bersin Corporate Learning Factbook
- 73.6% of technology-driven training at Fortune 500 companies comes through networked, online methods – CSOFT
- The Asian elearning market is expected to reach $11.5 billion by 2016. The 2 countries with the highest growth rates in the world are Vietnam and Malaysia, with 44.3% and 39.4% respectively. – Ambient Insight
- In 2011, 51% of companies delivered at least one training session via elearning to over 50% of their employees, compared to 39% in 2010. – Checkpoint
- 72% of companies surveyed report that eLearning keeps them on top of their industry changes. – certifyme.net
- 9 out of 10 large corporations have implemented elearning programs – Pergamon Press
- Since 2000, the global elearning market has grown 900% – Znanja.com
- By 2019, 50% of all classes taught will be online – Clayton Christensen Institute
- 67% of colleges in the US are unable to meet the demand of online courses – onlineeducation.net
- The average content retention rate for an instructor-led class is only 58% – thetrainingworld.com
- Corporations save between 50 – 70% when replacing instructor-led training with elearning ~ Training Magazine
- When Dow Chemical switched to an elearning approach, they cut their average spending per learner by $84 to just $11. In total, this saved them $34m – Saba Consulting
- 40% of traditional training is spent on travel costs – Merrill Lynch, The Book of Knowledge
- Motorola projects that for every $1 spent on training, there will be a $30 productivity gain in 3 years – Merrill Lynch, The Book of Knowledge
- BT reduced their training time of 20,000 staff from 18 months to 12 week by implementing an online training system – Saba Consulting
- 77% of American Corporations use online learning. In 1995 it was 4% – Znanja.com
- Elearning is generally shorter than classroom training on the same subject by up to 25-60% – Brandon Hall, 2001 and Rosenberg 2001
- Elearning increases knowledge retention by 25% to 60% – Exploring a New Frontier, WR Hambrecht
Armed with the facts above, youll be able to strongly move forward with your online training development and soon be reaping the rewards.
If youd like to know more about trends and developments in the online training industry, read our free ebook, Navigating The Training Industry In 2013.