Meticulous Research®—a leading global market research company, published a research report titled “Education & 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.”
According to this latest publication from Meticulous Research®, the Global Education & Learning Analytics Market is expected to grow at a CAGR of 23.8% from 2022–2029 to reach $36.59 billion by 2029. 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 and, 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. The study also evaluates industry competitors and analyses the market at the country level.
Based on Offering, the 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. The segment's growth is mainly attributed to software's ability to pinpoint individual learning styles and anchoring content that better matches the learner’s learning style. 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 education & learning analytics market is segmented into on-premise and cloud-based. In 2022, the cloud-based segment is expected to account for the largest share of the global education & learning analytics market and is also expected to register the highest 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.
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 and is expected to register the highest CAGR during the forecast period. 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.
Based on User Group, the education & learning analytics market is segmented into academic institutions and corporate users. In 2022, the academic institutions segment is expected to account for the larger share of the global education & learning analytics market and is expected to record the higher CAGR during the forecast period. Academic institutions’ growing dependence on technology has led them to adopt innovative solutions that help make data-driven decisions. Hence, the increasing adoption of data-driven solutions by academic institutions drives the growth of the learning analytics market.
Furthermore, successful results achieved by higher educational institutions after implementing learning analytics solutions encourage K-12 educational institutes to adopt learning analytics solutions to improve their operational and academic productivity. Many SMEs are adopting learning analytics solutions due to the numerous benefits offered by these solutions. In addition, large enterprises are relying on data-driven decisions to gain a competitive edge in the ‘industry 4.0’ revolution.
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Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In 2022, North America is expected to account for the largest share of the global education & learning analytics market. The education and technology infrastructure in the U.S and Canada is approaching its maturity, and the region is home to a majority of recognized education and learning analytics providers. Besides, the constant incorporation of education and learning analytics by school districts and private schools is also helping the region retain its dominance in the global market.
However, the Asia-Pacific region is expected to emerge as the fastest-growing market. Positive government initiatives for promoting education modernization and high population concentration with developing technological infrastructure are expected to drive the demand for education & learning analytic tools in the region in the coming years.
The key players operating in the global Education & learning analytics market are 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), and Latitude CG, LLC (U.S.), among others.
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