Learning Analytics Market
Learning analytics has evolved from different branches of science that include data mining, information science, machine learning, psychology, sociology, statistics, and to interpret data gathered during learning, teaching, and education administration, along with other services. Market Research Future (MRFR) has published a research report about the global learning analytics market that anticipates augmentation for this market at 26% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 8.3 bn by the end of forecast period.
The essential factor aiding the global learning analytics market growth is the increasing trends in the market due to which learning analytics is expanding to the business enterprises in the form of workforce management. Other factors leading to market growth include rising necessity to evolve the competitive strategies to sustain the market, the increase in mobile devices, and growing focus on personalized learning. However, lack of data storage infrastructure and lack of technical expertise to implement learning analytics can hamper the market growth.
The global learning analytics market has been segmented on the basis of application, deployment, end user, services, tools, and lastly region. The application-based segmentation has segmented this market into business enterprises, higher education, and K-12. By deployment, the market has been segmented into on-premises deployment and on-cloud deployment.
Top Impacting Factors
Learning analytics offers teaching staff with better information on the quality of the content for education, teaching process, activities conducted, assessment process, and others to enable continual enhancement. These factors are booming the growth of the education and learning analytics market.
Foremost factors motivating the education and learning analytics market include mount in need for data-driven assessments in order to perk up the quality of education and boost in the adoption of mobile-based learning. Learning analytics also assists lecturers to augment the teaching process and monitor student performance in assorted ways. For instance, learning analytics permits to identify the students with low performance, and according to which lecturers can change their teaching methodologies.
Learning analytics methodologies are being in usage in the current situation of coronavirus pandemic, which has resulted in complete lockdown globally. Schools and other education centres are completely under lockdown, which has encouraged the use of learning analytics. Teachers and students are indulged with online sessions of education, which is helping teachers to make them study and access performances. These are resulting in students’ promotion to the next level of education. Thus, it could be studied that COVID 19 has been the most significant supported for the growth of the learning analytics market.
Furthermore, the roll-out of learning analytics in colleges and universities has a high impact on learning, teaching, and student support. The escalating demand for quality improvement in the education system is enabling the towering adoption of learning analytics and also is one of the essential drivers for the education and learning analytics market growth.
On the contrary, the factor of lack of awareness about analytics solutions among end-users and demand for decidedly skilled professionals to manage and deploy analytics solutions are some of the foremost hindrances of the learning analytics market.
Geographically, the learning analytics is studied for four different regions, namely Asia Pacific, North America, Europe, and the Rest of the World.
Expansion of the market in North America is mainly owing to high technology investments in the education sector in the region. North America was engaged with the largest share of the global education and learning analytics market back in 2019. The US and Canada are the most highly developed countries when it comes to technology adoption in almost every sector, which includes education and training. Moreover, the occurrence of crucial education and learning analytics players, along with the pervasive awareness regarding these solutions, is expected to propel the education and learning analytics market growth during the forecast period.
Europe is also probable to have substantial growth in the market. The United Kingdom, France, and Germany are to become prominent countries implementing the analytics tools over the next few years.
The Asia Pacific is also predictable to be the fastest-growing region in the learning analytics market over the calculated period. India, Japan, and China are the leading countries in the learning analytics market, due to a gradual surge in the adoption rate of business enterprises to implement learning analytics tools such as predictive analysis and content analysis techniques.
Top Key Players
The top key players of Learning Analytics market include Microsoft (U.S.), Blackboard Inc. (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), McGraw-Hill Education (U.S.), Saba Software Inc. (U.S.), D2L Corporation (Canada), Jenzabar (U.S.), Cornerstone OnDemand (U.S.), and Kronos (U.S.).
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