In any industry, market selection is an important process in getting a better understanding of your customers’ needs and wants. This enables your company to deliver quality products and services to your customers. Keep in mind that no single product serves all markets and every product has it’s niche. A 2012 report from Berson and Associates broke the eLearning market into it’s geographies:
- North America
- Western Europe
- Asia
- Worldwide
In this report, we see that North America is the largest market, while Asia is the fastest growing. This report helps us to better understand who is using eLearning products and services, but it does not show us how. Big numbers alone cannot help us in fully understanding a market. Another report from Ambient Insight in 2012 broke the eLearning market into 3 sectors:
- Packaged Content
- Authoring Tools
- Learning Management Systems
We will work to verify these projections by doing a bottoms-up analysis over the next few weeks.