Singapore E-Learning Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Delivery Mode (Online, LMS, Mobile, and Others), Learning Mode (Self-Paced and Instructor-Led), and End User (Academic and Corporate)

The Singapore E-Learning market was valued US$ 792.97 million in 2019 and is expected to reach US$ 2,228.74 million by 2027; it is estimated to grow at a CAGR of 13.6% during 2020–2027.

Education technology solutions are becoming popular in Singapore's schools and higher education institutions, providing a digital platform for documenting and tracking online education. E-learning leverages gamification by quickly tracking students' progress and improving their interactions with teachers and other students. Also, the popularity of e-learning is increasing in Singapore due to the need of systems such as LMS and analytics, which are used to understand and upgrade the learning process. This further encourages vendors to integrate learning modules, such as gamified learning, into software systems. Additionally, increased government investment in e-learning technologies is also expected to contribute to market growth. Singapore government launched its e-government masterplan named eGov2015 that aims to integrate systems, processes, and service delivery. The vision of the eGov 2015 drives the government toward a collaborative body that can co-create and connect with people. The masterplan aimed to guide government agencies to implement new ICT programs and transform Singapore into a global city that exploits infocomm's potential to add value to the economy and society, encompassing administration and education institutions in the country.  The eGov 2015 has enabled access to the latest knowledge and new learning resources, giving rise to learning with multimedia and interactive elements, and creating an environment wherein independent and lifelong learning could take place. The goal was to build a new nationwide infrastructure by connecting schools, and make Singapore the model for the innovative use of ICTs in education and learning. This factor is anticipated to offer ample growth opportunities for the Singapore E-Learning market players in the region.

Every year the government devotes the most significant portion of its resources to healthcare and education, which are the two critical sectors. Both sectors form the fundamental building blocks of economic growth. In Budget 2019, it announced the allocation of US$ 6.1 billion in a new Merdeka Generation Fund. The government spending on education has increased from US$ 7.5 billion in 2007 to ~US$ 12.8 billion in 2018, with more than 70% rise. The education system in Singapore is considered among the best in the world. The mean years of schooling among people aged 25 years and above were 11.1 in 2018. For those aged 15 and above, the literacy rate was 97.3% in 2018, well above the global literacy rate of 86.2%. Singapore consistently leads international rankings, including the OECD Program for International Student Assessment (PISA), a test for students across the world on mathematics, reading, and science. The scores, in particular, shows that Singaporean students are outperforming their peers overseas despite spending far less than most developed countries. Thus, the inclination of toward pursuing education acts as a major growth opportunity for the Singapore e-learning market players.

Impact of COVID-19 Pandemic on Singapore E-Learning Market

The shutdown of educational institutions, and corporate and government offices to contain the spread of COVID-19 has resulted in significant interruptions in the education schedules and cancelation of assessments. However, the COVID-19 pandemic has paved opportunities for Singapore e-learning market players. The lockdown is expected to boost e-learning platform demand in the coming years. However, the demand, especially that from end users in K-12 and higher education, may decline during the post-lockdown period in 2020 or 2021. However, the market would witness steady growth over the forecast period as the synchronous and collaborative virtual classes allow students to participate actively and create an environment similar to that of a physical classroom. The e-learning technology is gaining traction with an increasing number of academic and corporate institutes deploying these solutions for enhanced training sessions.

Market Insights

Ease of Tracking Student Performance and Maintaining Centralized Student Database Drives the Market Growth

E-learning enables teachers to track student progress and ensure their performance accomplishments are met. For example, in case students fail to clear online exams, the instructor offers various customized learning methods, based on personalities, so that the students can more easily grasp the learning materials, ultimately improving their performance. Advanced e-learning systems provide reporting and analytical tools that enable teachers to identify areas that may be missing from their e-learning courses and where they excel. For example, if many students have difficulty mastering certain learning materials, the teacher can assess the content and improve it, if necessary. Moreover, all detailed students information is stored safely in a centralized system. Schools can have a control over the data access authority. Personal student details, completed assignments and exams, payment status, and various learning activities can all be displayed on a single screen. These features are anticipated to drive the learning market growth in Singapore during the forecast period.

Delivery Mode-Based Insights

Based on delivery mode, the Singapore E-learning market is segmented into online, LMS, mobile, and others. The online segment led the market in terms of share in 2019. Online learning is the popular and newest form of distance education. It has had a significant impact on post-secondary education over the past decade, and the trend is growing at a steady pace. Online learning gives the learner the freedom to learn remotely as most online educational tools are portable. Thus, the increasing reliance of online knowledge, coupled with technological advancements, is expected to increase boost the online e-learning market as technological advancements allow students to adopt entirely online study plan while socializing with classmates, watching lectures, and participating in subject-specific discussions.

Singapore E-Learning Market, by Delivery Mode – 2019 and 2027

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Learning Mode-Based Insights

Based on learning mode, the Singapore e-learning market is segmented into self-paced and instructor-led. E-learning provides the option of customizing the content according to the desired learning style of the target group. The use of e-learning can simplify various aspects of instructor-led training in organizations. It is comparatively expensive to conduct instructor-led training sessions in physical classrooms or workshops and limits the number of learners that can benefit from the process.

Strategic Insights

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

• In 2020, Kydon Holdings Pte. Ltd. and MQ Spectrum Pte Ltd (MQ) jointly declared a definitive agreement for MQ Spectrum Pte. Ltd. to join as part of Kydon group of companies. MQ was established in 2009 and is a Singapore technology company known for providing secure, enterprise level technologies and learning management systems (LMS) to corporate and government sectors.

• In 2019, Gnowbe partnered with Stephenson Mansell Group (SMG) to increase its global footprint. As per the partnership, SMG would use the Gnowbe platform to enhance the experience for their clients.

Singapore E-Learning Market – by Delivery Mode

• Online
• LMS
• Mobile
• Others

Singapore E-Learning Market – by Learning Mode

• Self-Paced
• Instructor-Led

Singapore E-Learning Market – by End User

• Academic
• Corporate

Company Profiles

• Antoree Pte. Ltd.
• Gem Learning
• Coursepad Pte Ltd.
• Gnowbe Group Ltd.
• Inchone Pte Ltd.
• KooBits Learning Pte Ltd.
• Kydon
• Marshall Cavendish Education
• Xiamen Phoenix OneSoft CO., LTD.
• Wizlearn Technologies