The Internet has changed our lives in many ways, and the educational field is one of them. Little by little, traditional classrooms of chairs and desks give way to online classes. According to Global Markets Insight, the value of the global e-learning market stood at $315 billion and is expected to reach $1 trillion by 2028.
In addition, the estimated education expenditure (online and offline) is expected to increase by 23%, from $8.1 trillion to $10 trillion, according to AEFOL. Based on the same study, the European e-learning market is the third largest in the world (funding of 1.8 trillion euros). It has overtaken India this year, ranking behind only China and the United States.
Top of the European podium
Even though this phenomenon is having a significant effect on the European Union, it is striking to see the position it occupies in Spain in this process of digitization of education. According to the report E-learning 2022: The Online University Student. Trends and Perspectives, published by Dr. Luis Toro Dupouy, Spain ranks second among the European countries in terms of the proportion of people participating in any form of online learning activities, both in men (45 %) and women (43 %). Only Denmark has a higher percentage.
The higher the demand, the larger the market size. The e-learning market in Spain has an annual turnover of 5,000 million euros, distributed among 300 companies, according to data provided by AEFOL. In addition, the expected annual growth in our country is 8% per year, making it a very attractive niche market for new platforms with online training offers.
Core reasons for the online education boom
Due to the mobility restrictions caused by the pandemic, companies and educational institutions have accelerated their efforts to adapt their training catalog to the online methodology. In fact, according to the report “E-learning 2022: The Online University Student. Trends and Prospects.”, more than one in four people who undertook e-learning programs during 2021 and 2022 did so for this reason.
The affordability of these services has become a competitive advantage. More than half of the people interviewed as part of the preparation of the Report stated that they take this factor into account when choosing educational programs. In addition, there is another major advantage: spatial and temporal flexibility. Three out of every ten people who took online training last year did so to be able to combine it with work or family commitments.
Spain is one of the leading countries in the adoption of e-learning. Consequently, we will eventually witness growth and diversification of the catalog of online courses to meet the existing demand.
Formación en Inversión
Tomorrow, Fellow Funders, our equity crowdfunding platform, will be launching a new project in the e-learning sector: Formación en Inversión (Investment Training). This online training center provides a wide range of investment and financial markets training. Its proposal is certainly aligned with the services offered by Fellow Funders to facilitate access to investment opportunities.
The company launches a €350,000 round to increase its investment in technology, operating expenses, growth, and staff recruitment. At Fellow Funders, we consider it an excellent investment opportunity, given that we are witnessing a boom in both online education and the public’s interest in investing. Education, online or offline, is priceless.