Redding, California, June 23, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Education & Learning Analytics Market by Offering (Software, Services), Deployment, Application (People Acquisition & Retention, Operations, Performance Management, Others), User Group (Academic, Corporate) and Geography - Global Forecasts to 2029”, the global education & learning analytics market is expected to grow at a CAGR of 23.8% from 2022–2029 to reach $36.59 billion by 2029.
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The market's growth is attributed to factors such as the growing need for data-driven decisions to improve the quality of education and extensive government initiatives for education modernization. The incorporation of machine learning and artificial intelligence in education & learning analytics is expected to create growth opportunities for the players operating in this market. However, a lack of awareness regarding education analytics standards and data hygiene among educational institutes can obstruct the market growth.
Impact of COVID-19 on the Education & Learning Analytics Market
The COVID-19 pandemic emerged in Wuhan, China, in December 2019. By March 2020, the pandemic had spread across most countries around the world, leading to the World Health Organization declaring COVID-19 a global pandemic. Governments across the globe imposed countrywide lockdowns and restrictions on travel and trade to ensure public health & safety. These lockdowns negatively impacted most sectors. Educational institutions worldwide were temporarily closed, severely affecting the education sector. According to the World Economic Forum, 1.2 billion students could not visit educational institutions leading to a considerable impact on learning. As a result, education changed dramatically with the advent of e-learning, wherein institutions started teaching remotely through digital platforms.
Before the outbreak of COVID-19, educational institutions had started effectively incorporating data analysis, slightly boosting the education & learning analytics market from its nascent stage. The shutting down of schools, academic institutions, and educational enterprises compelled learners to adopt the remote learning approach to manage their syllabus and courses. Many universities successfully transitioned to e-learning. For example, Zhejiang University (China) managed to get more than 5,000 courses online within just two weeks into the transition using DingTalk ZJU. Imperial College London started offering a course on the science of coronavirus, which was launched on Coursera, becoming the most enrolled course in 2020. Also, governments across the globe made efforts to devise open-source e-learning solutions to provide education to all students regardless of their technical barriers. For instance, the Government of India developed several free e-learning platforms such as SWAYAM, DIKSHA, and NPTEL for learners pursuing various courses.
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Thus, with the growing adoption of remote learning and e-learning platforms, institutions can leverage learner/student data to make future decisions to support institutional progress and improve learners’ performance. Thus, the adoption of learning analytics is expected to grow exponentially in the coming years. The COVID-19 pandemic had a significant impact on incomes, and as a result, many governments across the globe ordered schools and other educational institutions to reduce tuition fees to provide some relaxation to learners. This factor lowered the adoption of newer technologies among educational & academic institutions due to being largely considered non-essential. However, learners’ growing dependency on e-learning platforms is expected to encourage the adoption of learning analytics solutions & services among educational & academic institutes, boosting the growth of this market in the coming years.
The global education & learning analytics market is segmented by offering (software and services), deployment mode (on-premise and cloud-based), application (people acquisition & retention, operations, performance management, and others), user group (academic institutions and corporate users), and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on offering, the global education & learning analytics market is segmented into software and services. In 2022, the software segment is expected to account for a larger share of the global education & learning analytics market. The segment's growth is mainly attributed to software's ability to pinpoint individual learning styles and anchoring content that better matches the learner’s learning style. However, the services segment is projected to grow at a faster rate owing to the growing preferences of educational institutions concerning the technical support and maintenance of the education and learning analytics platforms.
Based on deployment mode, the global education & learning analytics market is segmented into on-premise and cloud-based. In 2022, the cloud-based segment is expected to account for a larger share of the global education & learning analytics market. This segment is also expected to grow at a higher CAGR during the forecast period. Benefits such as enhanced scalability, accessibility, and automated upgradation offered by cloud-based analytics solutions contribute to the growth of this segment.
Based on application, the education & learning analytics market is segmented into people acquisition & retention, curriculum development, operations management, finance management, performance management, and other applications. In 2022, the performance management segment is expected to account for the largest share of the global education & learning analytics market. The large share of this segment is mainly attributed to the growing need for monitoring the individual performance of learners and the growing demand from educational institutes to develop personalized content. The segment is also expected to grow at the highest CAGR during the forecast period.
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Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In 2022, North America is expected to account for the largest share of the global Education & learning analytics market. The education and technology infrastructure in the U.S and Canada is approaching its maturity, and the region is home to a majority of recognized education and learning analytics providers. Besides, the constant incorporation of education and learning analytics by school districts and private schools is also helping the region retain its dominance in the global market. However, the Asia-Pacific region is expected to emerge as the fastest-growing market. Positive government initiatives for promoting education modernization and high population concentration with developing technological infrastructure are further expected to drive the demand for education & learning analytic tools in the region in the coming years.
The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past four years.
The global education & learning analytics market is consolidated and dominated by a few major players, namely, MicroStrategy Incorporated (U.S.), TIBCO Software Inc. (U.S.), Alteryx Inc. (U.S.), D2L Corporations (Canada), SAS Institute Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporations (U.S.), Cornerstone OnDemand, Inc. (U.S.), SAP SE (U.S.), Oracle Corporations (U.S.), Blackboard Inc. (U.S.), Tableau Software (U.S.), Qlik (U.S.), Yellowfin (Australia), and Latitude CG, LLC (U.S.), among others.
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Scope of the Report:
Education & Learning Analytics Market, by Offering
- Software
- Services
- Managed Services
- Professional Services
- Technical Support and Maintenance
- Consulting Services
Education & Learning Analytics Market, by Deployment Mode
- On-premise
- Cloud-based
Education & Learning Analytics Market, by Application
- People Acquisition & Retention
- Curriculum Development
- Operations Management
- Finance Management
- Performance Management
- Other Applications
Education & Learning Analytics Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Rest of MEA
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