E-learning industry is one such domain where companies are emerging as well as being established at a whole new level. This is widely due to the requirement of learning in corporate as well as educational institutions. Although educational institutions are utilising LMS for conducting training sessions for students, the actual and dominant usage of LMS is found by corporate firms.
Industries are the ones who add value to the economy and they have to make sure learning and implementing works fine for them. It can be seen that Knowledge Transfer is the first step in making any product or service tangible, henceforth the reason for the e-learning industry’s rapid evolution.
One must ponder over a few important questions based on their business strategy to identify how different or better they are than their competitors. Answering these questions could help an organisation in knowing their performance and plan accordingly to improve their ranking in the marketplace. These questions include:
- learning outcomes are being measured?
- learner’s engagement is being gauged?
- platform support in badges and micro-credentials being assessed?
- The mobile strategy being used?
- one’s core competency?
- ways of customization?
- ways of data and identity integration?
A good example of region wise growth is Asia particularly India, this could be possible due to the literacy projects undertaken by the various State Governments. It clearly implies a requirement and demand for e-learning industry. This could be a chance to identify the problems facing in small villages and towns to develop a core competency. In a similar way recognising the opportunities to improve the solutions to the above-stated questions could help in improving the market value of a company.
Why are we talking about Market value?
The Market share of a company in its industry as well as in all industries helps in drawing an idea about what is the current position in the industry. It is the key indicator of market competitiveness that is how well a firm is doing against its competitors. When it comes to e-learning industry, having a cut-off for the viability of a company is difficult as many companies are contributing at the same pace. For instance, according to a research done by MarketsandMarkets in July 2016, tier 1 companies only held 15% of the market share whereas tier 3 companies held 59% of the market share. This clearly implies though e-learning industry is 15 years old, companies across the world are identifying opportunities quarter by quarter and trying to secure new cases in the market under their umbrella.