(EMAILWIRE.COM, July 12, 2022 ) According to a new market research report titled, “Education and 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 education & learning analytics market is expected to grow at a CAGR of 23.8% from 2022 to 2029 to reach $36.59 billion by 2029.
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Education & learning analytics describes the use of data to understand learners’ needs and improve educational services accordingly. It can be used to test the effectiveness of different learning techniques, track students’ progress and identify areas for improvement, and give educators insight into the most successful tactics. The learning analytics (LA) market is rapidly growing in educational institutions globally, especially for higher education and Massive Open Online Courses (MOOCs) providers, which drive the need to improve students’ success rates, retention, learning experience, and course material efficiency.
The growth of this market is driven by the growing need for data-driven decisions to improve the quality of education and extensive government initiatives for education modernization. However, a lack of awareness regarding education analytics standards and data hygiene among educational institutes is expected to restrain the growth of this market. 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, data privacy & security concerns & misconceptions and a lack of knowledge regarding education & learning analytics solutions are major challenges for market growth. Additionally, the increasing adoption of distance learning and the growing utilization of cloud-based learning analytics solutions are major trends prevalent in the global education & learning analytics market.
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The Impact of COVID-19 on the Education & Learning Analytics Market
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 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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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. 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. Besides, the use of professional services also helps save considerable time and expenditure on the platform, thus, allowing more time for the institutes to concentrate on their core objectives.
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.
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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.
Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 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, the presence of a young and tech-savvy population in this region, rising disposable incomes, rapid infrastructure development, growing proliferation of cloud computing and smartphones, and the growing sense of responsibility towards the environment.
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), Latitude CG, LLC (U.S.) and among others.
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