Number of Government ICT Tenders and Increasing Internet Users in Singapore to Foster Future Growth: Ken Research
Posted on 09 August 2016 by KenResearch Education and Recruitment,
Increasing number of ICT tenders and increasing number of internet users in Singapore is expected to increase demand for e-Learning courses.
Singapore e-Learning market has grown at a CAGR of around 13% during the period 2010-2015. The market is expected to grow at a CAGR of 16% during the period 2016-2020. The market is estimated to grow to USD 1.5 billion by 2020. The market has been growing at a healthy pace and it is expected to continue at the same growth rate. As the number of internet users and the Smartphone users has increased, the momentum is likely to shift towards e-learning in the education market in the coming future.
One of the biggest challenges for education institutions is the difficulty in adopting a secure IT infrastructure for digitizing the whole education ecosystem. Moreover, lack of awareness among institutions about the latest technological trends and developments has also become a major challenge for e-learning market in the country. However, with rising awareness, the demand for digital content and services will continue to upscale the growth of digital education content services in the market in the coming years as well. With rising demand, more content in the form of video, audio and text format, is expected to be uploaded on LMS, MOOCs available, which in turn will further drive the market
The number of internet users in Singapore has been increasing at a phenomenal pace. The increasing number of internet users tends to have a positive impact on the e-Learning market in Singapore. The majority of the share of the revenues in the e-Learning market comes from the content market which would be further enhanced as the number of internet users rises. As the number of internet users would rise, it would lead to an increase in the number of e-enrollments. The number of internet users has grown at a CAGR of 2% in the period FY’2010-FY’2015. The number of internet users is expected to enhance from 4.1 million in FY’2015 to 4.94 million in FY’2020.
The e-Learning content companies would be able to serve a wider user base in the coming years. This is likely to raise the number of enrollments in the online test preparation market and higher applicants for online learning thus ensuring better revenues for the E-learning companies market as a whole. The surge in the number of internet users and also the rise in the tenders given out by the government of Singapore are expected to increase the revenues generated by the E-learning companies. The rise in the number of schools which fall under the ICT plans out by the Ministry of education, Singapore has led to higher sales of the hardware by the E-learning companies.
The report titled “Singapore E-learning Market Forecast to 2020- Increasing Learning Technologies in Corporate Sector to Drive Future Growth” provides detailed overview on the e-learning in Singapore, with focus on the content and technology market and its segments. This report helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for E-learning companies, companies dealing with delivery of content for E-learning companies, new entrants planning to enter Singapore E-learning market and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Key Products Mentioned in the Report
- Open Courseware
- Online Tests
- Smart Classes
Companies Covered in the Report
Skillsoft, Gnowbe, Epiphany, Antoree, Coursepad, Skillslagoon, Inchone, Edugrate, Kydon Learning, Three Learning, Teamie, Wizlearn Technologies, Marshall Cavendish, Knowledge Platform, Playware Studios, GEM Learning, eUniversity Pte Ltd, GenuisU, Phoenix OneSoft Singapore, KooBits Pte Ltd, Octavesim, LIME Learning
To know more on coverage, click on the link below:
Ankur Gupta, Head Marketing & Communications