In the near future, universities will not survive as the future is outside the traditional campus and outside the traditional classroom. As per the Docebo report issued in July, 2014, the worldwide market for self-paced e-learning reached $35.6 billion in 2011. The five-year compound annual growth rate is estimated at around 7.6 per cent so revenues should reach some $51.5 billion by 2016. While the aggregate growth rate is 7.6 per cent, several world regions appear to have significantly higher growth rates. The highest growth rate is in Asia at 17.3 per cent, followed by Eastern Europe, Africa, and Latin America at 16.9 per cent, 15.2 per cent, and 14.6 per cent, respectively.
Looking at e-learning in India, research indicates that the industry is set to reach $1.29 billion by 2018, while some highly optimistic sources claim that the market is much bigger, sizing up at $40-60 billion by 2018. Regardless, its generally agreed that with current annual growth rates of 17-20 per cent, the industry is poised for significant growth. Already, India is a major source of e-learning content and development for the world market, thanks to our low-cost and highly educated workforce in higher education.