E-learning- The Market Is Gradually Augmenting

From tablets to smart phones, from searching wikis to having a blog, todays high tech environment embraces communication, collaboration & information all in digital way. Same is the landscape as far as today's education is concerned. The facility of time & technology has unfold academic degrees into prominence, which previously seemed to be impossible to attain. Today, the lack of time, money and the adequacy of personal and professional responsibilities don't matter anymore. Thanks to the radically evolved e-learning, today a long study programme has been flexible enough to complete according to the students' convenience.

E-learning Global Market That Is Having A Zeal

Thanks to the various e-learning tools & technologies, that keep growing bigger & better, the entire experience of education has been revolutionized. Today not only students, but also professionals, from all across the universe are ushered thoroughly by this newly emerged education facility to earn their degrees, build upon their knowledge base, and develop new skills. Not only that, our perception of knowledge and skill acquisition has also been advanced altogether. As such, an increasing number of online courses are now being offered in order to meet the ever-growing demand.

TechNavio's reports, based on a thorough market survey with inputs from eminent industry experts, have predicted that, the Global E-learning market, from today's scenario, is supposed to grow at a CAGR of 25.81 percent over the period 2013-2018. One of the key factors, that is contributing to this market growth, is reckoned to be the increasing acceptance of E-learning among corporates.

What Are The Statistics' Forecast

Which more crucial fact is that the gradual expansion of e-learning popularity is nowhere showing any sign to decrease. Inf act, the modern edu-landscape is indicating that the future of the e-learning Industry is brighter than ever.

• It was 2011, when the figure of $35.6 billion was estimated to spent on e-learning across the globe. Today the figure has been escalated with a huge number of $56.2 billion & this industry is being hoped to double by 2015.
• The business sectors has now confirmed that e-learning is the second most valuable training method that they tend to use. This report does not raise any surprise, as e-learning saves businesses at least 50% when they replace traditional instructor-based training with e-learning.
• Today, about 4.6 college students are appraised to take at least one study course online, which will veer the scenario, where approximately half of all college classes will be e-learning-based by 2019.
• The world's most rapidly developing e-learning markets exist in Malaysia and Vietnam, where the estimated 5 year annual growth rate for the Asian e-Learning market is 17.3%. Whereas, self-paced e-learning's growth rate in the Middle East is 8.2%, and its revenues are expected to reach $560.7 million by 2016.

Middle East E-learns Faster & Bigger Than Ever

A research, conducted by Docebo entitled "e-learning Market Trends & Forecast 2014 - 2016 Report", manifested the fact that, global and regional education suppliers are up-rising their stakes in the Middle East as the region's e-learning market sees revenues, elevating to $560.7 million by 2016. 

MattThompson, Project Director, F&E Group, commenting on Middle East's e-learning market, which is out-pacing the global market at 7.6 percent, cited that, ''The strong desire to digitize the delivery of the education experience is driving this growth, with governments playing a major role in boosting investments."

Thompson, who is organizing the GESS Education Awards in 2015, has also hinges on this distinguished award to assist educators in evaluating the quality of local and international suppliers, honoring the contributions of theses education suppliers in raising the quality of education throughout the region through advanced, digital tools, at the same time. Meanwhile, outstanding contributions and performance by teachers, schools and education professionals will also be observed in the following categories - Lifetime Achievement Award, Best use of ICT/eLearning in the Classroom, Community Award for Citizenship, Innovation in Education, and Outstanding Contribution in Education.

According to a recent study, held by The Research Institute of America, e-learning has the mighty prowess to benchmark information retention rates by up to 60%. That accentuates the fact that, not only is e-learning more cost efficient, but it's also more effective also, as far as the knowledge, acquired during the learning process, is concerned.

Is Online MBA As Good As Traditional MBA?

Do you think online MBA programmes are second-rate? Well, you couldn't be more wrong. As more and more established business schools have started to offer online MBA programmes, the quality of online learning has enormously improved.

Growing Demand for MBA

MBA has become a very valuable qualification these days as it is in high demand from both students and employers. Even in this intense job market, MBA graduates are successfully landing great jobs in big corporations. According to recent data from GMAC (Graduate Management Admission Council) released in January 2013, around 92 per cent of 2012 MBA graduates across the globe were employed within 3 months after their graduation. Moreover another GMAC revealed that 76 per cent of employers worldwide planned to recruit fresh MBA graduates in the year 2013; and the number is expected to go up even more this year.

So in this scenario, having a business degree can certainly be beneficial for you. But should you go for a traditional MBA programme and empty your saving account or go for an online programme? But can an online programme offer you quality education and excellent opportunities? Let’s find out.....

Is Online MBA Inferior?

It is true that earlier many students, education experts and even employers used to consider online management diploma and degree courses to be second rate as most top ranking B-schools remained detached from the market. However all that has changed now with the recent boom of online MBA. With rapid technological developments student experience has enhanced to a great extent.

In a recent post in The Telegraph, Professor G. Anandalingam, Dean of Imperial College Business School, writes “As with almost anything based around technology, it’s a process of continuous improvement: the way universities and students use technology is always evolving, making now a very exciting time to be working and studying in this area.”

A Raging Debate

But there seems to be a debate regarding the usage of technology in higher education. Clayton Christensen, Professor of Business Administration at Harvard Business School, argues that eventually technology will revolutionise the entire education system and in future all learning will happen online. However, Professor Michael Porter of Harvard Business School believes that online learning will not be able to replace classroom learning, but it will enhance it.

No matter which side of the debate you are on, you simply cannot deny that technology is significantly influencing online business diploma courses in a positive way as numerous students worldwide are now opting for online business education. Technology has effectively closed the gap regarding quality of the course and student experience between on-campus and online MBA.

However you need to ask a few questions before pursuing an online MBA programme. Professor Anandalingam writes “Students considering the merits of an online MBA vis-à-vis an in-class course should bear a few things in mind. Is there a good career service for online students? What opportunities are there to meet each other and network throughout the programme? Is there similar support for networking after the course and, crucially, is the syllabus delivered through rich, multimedia content?”

Is Online MBA a Good Option?

Although online courses initially offered only boring video lectures recordings, but now courses from leading institutions like Harvard and MIT’s EdX and Stanford’s Coursera are offering engaging lessons through interactive audios and videos as well as group assignments.

But after all that has been said, can technology and Online Management diploma programmes help you? Of course it can. If you want a recognised business qualification without being burdened with student debts, then online courses are your best option. Moreover, online MBA courses offers you the opportunity to pursue a degree and without giving up your full time job.

“For a significant and growing segment of the student population – working professionals that can’t afford to quit their jobs and come into campus for a long period – online learning has been a revelation. This is also true for students who are located in different countries but who want to receive a UK education due it its world-class reputation,” writes Prof. Anandalingam.

But will you have adequate networking opportunities in online business diploma courses? Its true networking is an important part of business education. As there is a lack of classroom interaction, you will need to take an innovative approach by using social media like LinkedIn and Facebook to expand your network and connect with other students. This helps to promote lifelong education by enabling b-schools to become a dynamic part of these online communities.

Prof. Anandalingam further adds “We, and others, work hard to ensure that online alumni are added to the career service office and we even arrange networking events throughout the world.”

Do you think online business education has improved significantly in the recent years or is it still second-rate? Would you like to go for an online MBA? Share your views, opinions and concerns and freely add to the discussion.