The concept of E-learning is very broad. It was coined in late 90s as the technological enhanced learning mechanism through Internet. Now it captures a broad range of electronic media like Internet, Intranets, Extranets, satellite broadcast, audio/video tape, interactive TV and CD-ROM to make the learning procedure more flexible and user friendly. Because of the flexible nature of E-learning, it has got more demand among the people of our country and the demand is increasing day by day. As the demand is increasing, this is the time to standardize the whole e-learning system in a proper way and the time to increase the quality of existing standards. Though many standards are already there and has accepted by many academia, institutes and organisations, still there are some gaps and works are going on to make them more practicable and more systematic.This paper analyses the current e-learning procedure and showing the new dimension of research work on this area that follows the important and most neglected research areas till today in this domain. It also analyses the importance of e-education system and recent market of e-learning procedure.