Competency-based Platforms Market for Higher Education in the US 2016-2020
About Competency-Based Education
Competency-based education is an educational model in which the emphasis is primarily on acquiring proficiency in skills that are measured through assessments along with credits given to skills learned through work experience or in earlier programs. It differs from traditional education models that rely on a credit hour-based system of credentialing. While traditional educational models are fixed-time models, in competency-based education programs, student competency and learning are the areas of focus with time being a variable, as in competency-based education, since the learning is self-paced, students can prioritize modules, and accordingly allot time for each module.
Technavio’s analysts forecast the competency-based education market for higher education in the US to grow at a CAGR of 22.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the competency-based education market for higher education in the US for 2016-2020. To calculate the market size, the report considers the revenue generated by the sale of competency-based software technologies and competency-based platforms to higher education institutions in the US.
The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Competency-Based Education Market for Higher Education in the US 2016-2020
Technavio recognizes the following companies as the key players in the competency-based education market for higher education in the US: BNED LoudCloud, D2L, Ellucian, and Flat World Education.
Other Prominent Vendors in the market are: Articulate, Blackboard, Edmodo, Fidelis Education, Fishtree, itslearning, Knewton, Motivis Learning, Saba, and Schoology.
Commenting on the report, an analyst from Technavio’s team said: “Emergence of learning relationship management systems will be a key trend for market growth. The higher education market is seeing the emergence of learning relationship management systems. These are software tools used to measure student progress by tracking the mastery of competency real-time and facilitating communication between various stakeholders such as teachers, students, parents, and counselors.”
According to the report, a major driver of competency-based education is growing Internet penetration and the proliferation of accessible and publicly available knowledge. Higher education institutions face enormous pressure to adapt to the paradigm of education. It is expected that online competency-based education will be a major disruptive force in the forecast period for traditional higher education as it is a culmination of the right learning model, technologies, customers, and businesses. Online degree programs, such as those offered by WGU and Southern New Hampshire University, aid learners through targeted learning outcomes, support, and portable skill sets that are in demand by industry employers.
Further, the report states that a major challenge for higher education institutions that wish to enter the market is the lack of financial resources required to implement a change in the education model. Higher education institutions rely largely on federal education grants and alumni support for the required capital.
BNED LoudCloud, D2L, Ellucian, Flat World Education, Articulate, Blackboard, Edmodo, Fidelis Education, Fishtree, itslearning, Knewton, Motivis Learning, Saba, Schoology.
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