Education and Learning Analytics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Software, Services); Application (Budget and Finance Management, People Acquisition and Retention, Operations Management, Performance Management, Curriculum Development and Intervention Management); End User (Academics, Corporate)
The global education and learning analytics market accounted for US$ 3,277.9 million in 2019 and is projected to reach US$ 16,835.9 million by 2027; it is expected to grow at a CAGR of 23.3% from 2020 to 2027. The education and learning analytics market is evolving, and the adoption of technology by higher education institutions worldwide is very uneven. Countries, such as the US, the UK, and Australia are considered to be early adopters in this domain. However, regions such as SAM are still at an initial stage of exploring their potentials. This is due to the lack of researchers and skilled professionals in learning analytics in the region.
The US is the leading country in the global education and learning analytics market as the country exhibits great awareness and interest in adopting new technologies to enhance the quality of higher education. However, several emerging economies across the globe still face technical and infrastructural challenges and issues related to data stewardship and access to data.
Geographically, the education and learning analytics market is fragmented into five regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America held the largest share of the global education and learning analytics market in 2019. The US and Canada are among the most advanced countries in the region, in terms of technology adoption in almost every sector, including education and training. Moreover, the presence of major education and learning analytics players, along with the widespread awareness regarding these solutions, is anticipated to further propel the market growth during the forecast period. The data generated by different educational institutions through learning analytics can be further used by the governments of the North American countries to develop policies related to education. Educational institutions implement learning analytics to enhance their understanding of learner groups to be able to offer customized content as well as to reduce the rate of student attrition. Likewise, the faculty can design the curriculum leveraging software solutions for learning analytics.
The education and learning analytics market is segmented into component, application, end user, and geography. Based on component, the market is further bifurcated into software and services. Education and learning analytics services market is further categorized into professional services and managed services. Managed services assist in troubleshooting the software at any given time, whereas professional services are the on-demand services. The various characteristics covered under managed services are day-to-day maintenance, troubleshooting, data backup, among others.
Based on applications, the market is segmented into performance management, operations management, budget, and finance management, people acquisition and retention, curriculum development, and intervention management. Most of the learning analytics software provide analysis of student performance at the end of the course with respect to assessments, student's engagement, and learning behavior.
The well-established market players operating in the education and learning analytics market include Watershed Systems, Inc., SAS Institute Inc, SAP SE, Microsoft Corporation, Happiest Minds, Ellucian Company LP, Blackboard Inc., Alteryx Inc., InetSoft Technology Corp., and Saba Software, Inc.
The overall global education and learning analytics market size have been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global education and learning analytics market. It also provides an overview and forecast for the education and learning analytics market based on all segmentations provided for global regions. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the education and learning analytics market.
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