Over the past fifteen years, the practice of eLearning has experienced truly astronomical growth.
Since 2000, the market for eLearning has grown by 900%, as businesses and universities continue to identify new options for using technology to support classroom activities, extend learning materials to remote and distant audiences, foster social knowledge sharing, and reap the benefits of flexible, repeatable lessons.
Given the extensive list of benefits that eLearning has to offer students in both academic and corporate training settings, the growth in the industry (sometimes alternatively known as “online learning” or “web-based training”) won’t slow down anytime soon.
So why are businesses and universities investing in eLearning?
The reasons are many, but most start at the bottom line. According to learning management system provider TalentLMS, companies that provide eLearning opportunities to their employees generate 26% more revenue per employee while also cutting operational costs by 50-70%.
For more fascinating facts about eLearning in 2015, check out the full infographic below. To view a larger version, just click on the image.
Today, video-enabled training has the endorsement of Fortune 100 companies like IBM and Microsoft, both of which have reported that investments in video training have generated triple-digit positive ROIs.
Likewise, organizations like Siemens, Qualcomm, Perkins Coie LLP, and hundreds of others have discovered that as a flexible, visually stimulating medium, video engages viewers in a way text memos and even animated slides alone simply can’t. Features such as inside video search, multi-camera recording, the ability to embed interactive features from tools like Articulate and Adobe Captivate, and digital notes help turn eLearning videos into rich, on-demand training resources.
And as more Baby Boomers reach retirement age, forward-thinking organizations are using video to capture the expertise and institutional knowledge of their outgoing employees and making it available to the next generation of workers. Whether it’s by using simple screen recordings, or by capturing knowledge transfer meetings on video, future employees are able to learn from your retiring employees’ experience — even if their tenures never overlap.
Learn why Panopto is an industry-leading eLearning video platform of choice for over 500 enterprises and academic institutions. Contact our team today for a personalized demonstration, or request a 30-day free trial to experience the system for yourself.