According to our latest market study on “Course Authoring Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Deployment (Cloud, On-premise); End User (Educational Institutes, Enterprises)” the market was valued at US$ 722.87 million in 2019 and is projected to reach US$ 1,992.95 million by 2027; it is expected to grow at a CAGR of 16.2% from 2020 to 2027. The report highlights key factors driving the market growth, and prominent players with their developments in the market.
The research report by The Insight Partners, titled, “Course Authoring Software Market”, offers a comprehensive analysis of key growth drivers, key segments, development strategies, market opportunities, and competitive landscape. This study offers detailed insights for market players, investors, stakeholders, and new entrants to understand the industry dynamics and determine strategic steps to gain a competitive advantage.
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Impact of COVID-19 Pandemic on Course Authoring Software Market
The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Since majority of the countries are exercising lockdowns, it has negatively impacted the education sector in the first 6 months of 2020. With the continuity of the COVID-19 spread, the adoption of e-learning has seen a constant growth and has created a huge opportunity for course authoring software market players.
North America dominated the course authoring software market followed by Europe and Asia Pacific in 2019. North America is expected to hold the largest market share in the course authoring software market during the forecast period, as the region is considered a mature market in terms of technology adoption. Further, the US is strongly controlled by government regulations and standards. Collaboration with organizations and universities among network arenas as well as institutions has facilitated the educators to be more accessible toward technological advancements. Also, organizations in countries such as the US and Canada are likely to implement e-learning than other regions.
The players operating in the course authoring software market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the course authoring software market. A few developments by key players are listed below:
- In 2020, Lessonly, Inc. raised US$ 15 million in Series C funding round, and the investment was led by AXA Venture Capital.
- In 2020, Elucidat opened a new office in Raleigh, North Carolina, US in order to cater the growing market in North America.
At present, the organizations worldwide are rapidly adopting digitalization, which is creating a need for trainers and education professionals to communicate interactive courses leveraging software that enables the learners to develop their personalized web pages, courses, and navigation tools, among others. The adoption of the rapid authoring method worldwide has grown significantly during the past few years. The course authoring software reduces time and costs concerning training, thus resulting in engaging content delivery. Some of the benefits delivered by these tools include accessibility from tools from any device at any place, reduced training costs, improved performance, and content repurposing. The growth of e-learning has created a demand for efficient course authoring software, which has boosted the growth of the course authoring software market. Articulate Global Inc.; Brainshark Inc.; Easygenerator B.V.; Elucidat; and iSpring Solutions, Inc. are among others the key course authoring software market players that have been profiled during this market study.
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