London, March 22, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Education & Learning Analytics Market by Component, Deployment Mode, Application (People’s Acquisition & Retention, Curriculum Development, Finance, Operations, and Performance Management,), User Group and Region– Global Forecast to 2027”, published by Meticulous Research®, the education & learning analytics market is expected to grow at a CAGR of 29.8% from 2020 to 2027 to reach $34.7 billion by 2027.
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Consistent proliferation in education data and advances in technology are promoting the enhanced teaching and learning methodology. Learning analytics refers to the process of collecting, evaluating, analyzing, and reporting organizational data for decision-making. It involves using big data analysis for understanding and improving the performance of educational institutions in educational delivery. The growth in this market is mainly driven by the rising need for data-driven decisions to improve education quality and growing technology investments among education institutes. Further, cloud-based learning analytics solutions and the advent of machine learning and artificial intelligence are offering prominent opportunities for market growth. However, a lack of awareness and skilled resources to manage analytical solutions can obstruct the growth of this market.
Impact of COVID-19 on the Education & Learning Analytics Market
In the first quarter of 2020, the world was hit by COVID-19. The outbreak was declared as a global pandemic by WHO as it spread across many countries. The COVID-19 pandemic has adversely hit many economies around the globe.
The COVID-19 has resulted in schools shut all across the world. There are currently more than 1.2 billion children in 186 countries affected by school closures due to the pandemic. Due to this, mediums to serve education have changed dramatically, with the remarkable rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. The students are given remote access to the lectures and classes, which has triggered online learning to a greater extent. The rise in remote learning and consistent student engagement on e-learning platforms is anticipated to generate huge data, which might open ways to adopt education and learning analytics solutions to derive meaningful information from the data.
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Moreover, with ICT development in education, e-books, animations, graphics, models, online video-based micro-courses, quizzes, games, and e-notes make learning more accessible, engaging, and contextualized. This is encouraging students to adopt e-learning tools for learning. Further, numerous countries struggling to mitigate the impact of school closures are supported by UNESCO to facilitate the continuity of education through remote learning. Thus, extensive government initiatives for adopting e-learning are poised to facilitate the use of learning analytics post-COVID-19 pandemic.
The global education & learning analytics market is mainly segmented based by component (software & services), deployment mode (on-premise & cloud), application (people’s acquisition & retention, curriculum development, finance management, operations management, performance management, and others), user group (academic & corporate) and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the education and learning analytics software segment commanded the largest share of the overall education and learning analytics market in 2020. The large share can be attributed to software's ability to pinpoint individual learning styles and anchoring content that better matches the learner’s learning style. Further, this segment is also projected to grow faster due to growing awareness among the educational institutions concerning extensive benefits provided by the software in terms of security, cloud storage availability, and integration with machine learning and deep learning technologies.
Based on application, the education and learning analytics for performance management accounted for the largest share of the overall education and learning analytics market in 2020. This segment's growth is anticipated to the urge to monitor learners' performance to increase their productivity. Universities and other corporate end-users are extensively using performance management systems to evaluate their students' and employees' performance and derive new methods to improve underperforming elements' performance. The curriculum development segment is anticipated to grow faster in the forecast period, owing to the need for institutions to develop curriculum based on patterns observed from data generated by the analytics solutions. With current dynamic situations, the existing curriculum is no longer going to make a difference in modern educations. Hence, realizing the significance of the new curriculum, colleges and educational institutes are adopting analytics for curriculum development, promoting the segment's fast growth.
Based on deployment mode, the cloud segment commanded the largest share of the overall education and learning analytics market in 2020. The large share of this segment is mainly attributed to the rising demand for cloud-based analytics solutions as the users are befitted with less maintenance and automatic upgradations, and high storage capacity. Further, with the provision of private cloud with advanced security and storage policies and growing awareness regarding the benefits of cloud-based analytics, solutions are expected to drive the market in the forecast period faster.
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Based on user-group, the academic segment accounted for the largest share of the overall education and learning analytics market in 2020. This is attributed to the increasing spending capacity of higher education institutions on data-driven solutions. Furthermore, the segment is also expected to grow faster due to the rising adoption of learning analytics solutions among K-12 schools worldwide. Governments across the globe are paying keen attention to the development of their education system. Digital transformation is one of the key development steps included to reflect changes desired. Owing to this, governments are promoting the use of education and learning analytics among institutes to uplift the overall quality and management of education. This has helped the sector to grow with massive strides towards growth.
Geographically, North America commanded the largest share of the global education and learning analytics market in 2020. The large share of this region is attributed to the presence of developed economies focusing on enhancing learners' education quality and productivity and the presence of major players in this market. On the other hand, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. The high growth rate is attributed to rapidly developing economies in the region, the presence of young and tech-savvy population in this region, growing proliferation of e-learning tools and platforms, rising disposable income, increasing acceptance of modern technologies across several sectors, and broadening implementation of computer vision technology in numerous applications.
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 education and learning analytics market has witnessed several agreements, collaborations, and partnerships in recent years. The global education & learning analytics market is consolidated and dominated by few major players, namely MicroStrategy Incorporated (U.S.), TIBCO Software Inc. (U.S.), Oracle Corporation (U.S.), Alteryx, Inc. (U.S.), D2L Corporations (Canada), SAS Institute Ins. (U.S.), IBM Corporations (U.S.), Microsoft Corporation (U.S.), SABA Software (U.S.), SAP SE (U.S.), and Blackboard Inc. (U.S.), among others.
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Scope of the Report:
Education and Learning Analytics Market, by Component
- Software
- Services
- Managed Services
- Professional Services
- Technical Support and Maintenance
- Consulting
Education and Learning Analytics Market, by Deployment Mode
- On-premise
- Cloud
Education and Learning Analytics Market, by Application
- People Acquisition
- Curriculum development
- Operations management
- Finance management
- Performance management
- Others
Education and Learning Analytics Market, by User-Group
- Academic
- K-12
- Higher Education Institutions
- Corporate
- Large Enterprises
- Small and Medium-sized Enterprises
Education and Learning Analytics Market, by Geography
- 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
- The Middle East and Africa
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