E-learning has never been so in-demand as it is now in 2021. Suddenly, online courses became better and more informative than in-door studies. More and more users engage in online courses to acquire, accumulate and enhance professional skills. Statista claims that 50% of students in the world have taken at least 1 online course throughout the last years. For instance, in 2019 the size of the global e-learning market was lower. At present, the world experiences a massive transition towards learning computerization. And, it is predicted to grow, and reach $370 billion U.S. by 2026. Demand for e-learning is skyrocketing indeed.
Courses for various purposes and covering different directions are released in packs. The Open University found out that e-learning course development takes 90% less energy when compared with traditional offline courses. To add, e-learning increases learning retention rates by 25% – 60%. And, what’s more, according to IBM that switched to e-learning recently, it is cost-efficient with up to $200 million of savings.
Thus, the benefits of online courses are bigger than those of traditional education. But, how much does it cost to develop a training course? How much do online courses cost?
What stands behind an Online Course?
According to a glossary, online courses are conducted over the Internet learning management system. The system allows students to view course details such as syllabus and course instructions as well as their academic progress. The benefit of LMS is in the online communication between the peers and course teachers and flexibility in watching online material or carrying out tasks at your own pace. Online courses are divided into MOOCs (Massive Open Online Courses). These courses are produced by large organizations such as edX, Prometheus, Coursera, Udemy. And traditional courses by universities like Purdue, Stanford, Harvard, etc., are more private and only for specific audiences.