Online learning/E-Learning is one of the great potential disruptors of our time. I’m being serious. Higher education costs are skyrocketing; the average cost of tuition for higher education is going up 8% a year. That’s doubling the cost of education every 9 years or so.
With the increased adaptability of online education systems such as course sites, meeting space, virtual class rooms and the onset of augmented reality, it really does make sense that great innovation is coming to the education space, specifically online learning.
It’s backed by the money pouring into it too! As of 2020 the e-learning marketplace was a $250 billion market according to Global Market Insights. It’s expected to SURGE 21% per year to through 2027 to eclipse the $1 TRILLION mark.
FYI it’s already 2021, are you prepared for that level of growth in the next 6 years?
Oh, it’s not just paid for e-learning that growing either. Harvard alone has over 600 courses available online…FOR FREE. The market is exploding in all corners and every indicator is pointing to a lasting innovation.
Still not convinced? How about looking at the strength of traditional universities today. A study and analysis by consultant Paul Friga of the Association of Governing Boards of Universities and Colleges found that colleges could lose a collective $183 billion as a result of the pandemic. That is simply not sustainable.
But there’s more. We are seeing greater and greater gender inequality at traditional higher education institutions. Today nearly 6 out of 10 students are female, an all time high. In fact over the last 5 years there’s been a drop of over 70% of men enrolled in higher education.
It doesn’t take a data analyst to see that there is change here and more change coming in the educational space and it may very well be centered on the e-learning and digital learning platform.
Innovation in this market is radically changing how we go about our education today. During times of radical change there is always an opportunity to continue to innovate. Our belief in the Entrepreneur Mastery Lab is that we can shift how business is done and how entrepreneurs and service-based professionals learn. We can innovate in this space and every piece of content we create is designed to help pave the road for professionals like you to have greater success and greater access to the tools you need to rise to mastery in your profession.
If you’re in this space or thinking about entering into this space, join us in the lab, where we can all help each other grow.
For more great conversation around innovation join us in the lab you can check it out here.
To get a glimpse into how one of our very own members is innovating check out our most recent Podcast with Jeff Mount of Real Intelligence. You can listen in to our conversation with Jeff and how he’s actively innovating in the financial planning market.