Corporate and Govt. Learning Spend to Reach $524bn from $356bn in 5 yearsPosted by in e-Learning
According to a forecast by GSV Advisors, an education and media consulting company, spend on corporate and government learning will grow by 8% CAGR between 2012-17. In its research advisory group report, Elearning! Magazine found all of the respondents reported that they had active enterprise learning initiatives underway. The annual survey which included over 600 respondents saw a 240% increase in enterprise-wide e-learning expenditures from 2011.
Let’s take a look at the training trends from the report:
- Implementations are beginning to stretch among more categories of training initiatives, but Compliance training claimed the No. 1 spot. Other top training implementations include Product Training, Leadership Development, and Professional/Industry-Specific training initiatives.
- 50% of training hours are being deployed via e-learning, blended, online or virtual learning. And, 69% of the respondents indicated that e-learning and other non-classroom venues were used to deliver over 50% of the training.
- 84% of the respondents said that they used Web Meeting Solutions, 46% said that they used Virtual Classrooms, and 40% said that they used Virtual Learning Environments, which includes virtual classroom sessions, networking, content libraries, and similar products.
- Measuring impact of e-learning and training initiatives relies heaviest on Employee Feedback (78%), followed by Testing and Assessments (61%), Completion Rates (57%), and Manager Feedback (57%).
- Respondents plan to invest 240% more on e-learning in 2012, averaging $3.5 million each, versus averaging $1.458 million each in 2011.
- Tools that continue in highest use include E-Learning Development Tools which shot to the top of the list at 82%. Web Conferencing Tools moved into the No. 2 spot at 77%; followed by Content Development Tools at 76%, and Assessment and Development Tools went down to the No. 4 slot from its No. 1 spot in 2011.
- Highest on the ”planning to add” list over the next 12 months include Mobile Learning in the No.1 spot, followed by E-learning Development Tools in the No. 2 spot; and Social Networks in the #3 spot.