The distance education project is one of those projects, or transfer opportunities, that arise as a result of certain transformations in its specific context, which is the educational context;
If the entire world is heading towards digitization and automation of various life processes, it is logical to think, by entrepreneurs and those who want to go through the experience of self-employment, in the distance education project.
The truth is that this project did not arise as a result of the Corona pandemic, but rather because virtual or distance education, e-learning, etc.
existed before the pandemic; all that has changed is that the pandemic has accelerated the pace of growth of this sector, leading people to believe not only in its importance but also in its necessity and inevitability.
Advantages of the distance education project
The Entrepreneurs list a range of advantages of the distance education project, as follows:
When discussing the distant education project, the first thing that springs to mind is that we are operating in a rapidly expanding market. Rather, it occasionally makes significant qualitative jumps. According to Research and Markets, the online education industry would be worth $350 billion by 2025.
Approximately 77 percent of organizations in the United States provide online courses to assist educate their employees, with 81 percent of learners partaking in online learning for personal development.
That is to say, the problem is no longer restricted to schools, research centers, and universities; other parties are now engaged, which helps individuals in charge of distant education projects or those interested in working in this sector.
However, the issue is not limited to market share; substantial profits may be generated through remote education projects; the worldwide e-learning industry was valued at $165.36 billion in 2016 and is predicted to approach $243 billion by the end of 2022, with a compound annual growth rate of 5.08 percent.
For example, Jaber Information Technology AG (previously Camcave) produced roughly €24.86 million in sales in the fiscal year 2013.
However, one of the major benefits of the distant education project is that its prospective customers are continually expanding; In 2019, 3 percent of users with minimal formal education in the UK utilized the internet to participate in online learning activities.
While the proportion of persons with an average formal education was 28% in 2020, 42% of users with a high level of formal education in the UK utilized the internet to access online learning resources.
Khanacademy.org, the most popular online education website in the world, with 100.3 million visits in March 2020. In the same month as Khanacademy.org, Duolingo.com received around 55.6 million visitors.
A distant learning project may be a good match for aspiring entrepreneurs from a variety of perspectives. It is, for the most part, a low-cost enterprise; you do not have to pay the wages of instructors and coaches, rent a classroom, or cover the costs of supplying food and learning tools. You just need to pay the developers who work on your online training platform.
Companies save at least 50% of their costs when they replace traditional education with e-learning, according to eLearning Industry.
The amount of costs saved is expected to increase even more when considering that e-learning reduces teaching time by 60%.
Aside from everything we’ve discussed so far, the distant education initiative has a significant benefit in that it encourages sustainability while also being devoted to environmental stewardship.
According to eLearning Industry data, e-learning is 90% more efficient than conventional learning; in terms of energy usage, it is 85% more efficient in terms of carbon dioxide emissions.