Learning analytics market growth forecast
Market for education and learning analytics set to grow at 29% CAGR to $34 Bn by 2027.
A new report has the global market for education and learning analytics growing at a CAGR of 29.8% over the next six years to reach $34Bn by 2027.
The report from Research And Markets was published today, June 2, and covers both the education and corporate sectors. Its forecasts are in line with the sentiments expressed by learning leaders in recent years that measuring the impact of learning and development programmes is a high priority:
- In the Learning and Development Global Sentiment Survey, carried out each year by Donald H Taylor, learning analytics has been in the top three priorities for L&D leaders for each of the last three years.
- Research from LEO Learning and Watershed, carried out over the last five years in its annual 'Measuring the Business Impact of Learning Report', shows that learning leaders place an increasingly high priority on measuring learning programmes.
- The LPI (Learning and Performance Institute) has expressed the critical need for learning and development practitioners to improve their ability to make data-driven decisions and become more aligned with the performance of their organisations.
Research And Markets’ press release...
DUBLIN--(BUSINESS WIRE)--The "Education and Learning Analytics Market by Component, Deployment, Applications (Acquisition and Retention, Curriculum Development, Finance, Operations, Performance Management), User Group (Academic, Corporate) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The education and learning analytics market is expected to reach $34.7 billion by 2027, growing at a CAGR of 29.8% during the forecast period of 2020 to 2027.
The growth of this market is mainly attributed to the rising need for data-driven decisions to improve education quality and extensive government initiatives in digitalizing the education sector.
Based on component, the software segment accounted for the largest share of the education and learning analytics market in 2020. The large share of this segment is mainly attributed to the growing adoption of software solutions across the academic user group for maintaining and monitoring student and educator performance.
This segment is also expected to witness a high growth rate in the forecast period. The engagement of learning analytics software with new technologies, such as machine learning, deep learning, and artificial intelligence to predict and provide accurate insights is attributed to drive the growth of this segment in the forecast period.
Based on deployment type, the cloud-based segment accounted for the largest share of the education and learning analytics market in 2020. This is primarily attributed to the growing adoption of cloud-based learning analytics solutions by education institutions to reduce infrastructure costs. This segment is also projected to witness a high growth rate as cloud-based solutions are easily accessible and scalable in handling the application software.
Based on application, the performance management segment accounted for the largest share of the education and learning analytics market in 2020. The growth of this segment is primarily attributed to the mounting need of institutions to align their operational efficiency requirements with employee performance. Also, the ability of learning analytics solutions to access and integrate the data across multiple systems enables institutes to make data-informed decisions related to student performance.
Based on user-group, the academic institutes segment accounted for the largest share of the education and learning analytics market in 2020. The large share of this segment is attributed to the increasing spending capacity of higher education institutions on data-driven solutions. The academics segment is further split under k-12 and higher education institutions.
The North American region commanded the largest share of the education and learning analytics market in 2020. However, the Asia-Pacific region is expected to witness rapid growth during the forecast period. This growth is mainly driven by the increasing adoption of e-learning tools across a wide range of educational institutions in countries such as China, India, and Japan.
Key questions answered in the report
- Which are the high growth market segments in terms of component, deployment mode, application, user-group, and countries?
- What is the historical market for education and learning analytics across the globe?
- What are the market forecasts and estimates from the period of 2019-2027?
- Who are the major players in various countries, and what share of the market do they hold?
- What are the recent developments in the education and learning analytics market?
- What are the different strategies adopted by the major players in the education and learning analytics market?
- What are the geographical trends and high-growth countries?
- Who are the local emerging players in the education and learning analytics market, and how do they compete with the other players?
More information available from https://www.researchandmarkets.com/r/5lszc5
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