CHICAGO, October 26, 2018
CHICAGO, October 26, 2018 /PRNewswire/ --
According to the new market research report "Education and Learning Analytics Market by Application (Performance Management, Curriculum Development and Intervention Management, and People Acquisition and Retention), Component, Analytics Type, Deployment, End-User, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Education and Learning Analytics Market size is expected to grow from USD 2.6 billion in 2018 to USD 7.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period.
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The key factors driving the Education and Learning Analytics Market include the rising need for data-driven decisions to improve education quality and the growing adoption of mobile learning.
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Descriptive analytics segment constituted the largest market share in 2018
Descriptive analytics uses data to provide greater insights into current or past events. This analytics type is used at different levels within the university. With the help of this analytics type, the university can map students based on their performance, workload, or engagement. Similarly, it helps map the effectiveness of teachers' skills and methods used for teaching to enhance student's learning experience. Hence, the descriptive analytics segment is expected to continue garner the largest revenue during the forecast period.
Services segment is expected to grow at a higher CAGR during the forecast period
Categories in the Education and Learning Analytics Market by component are software and services. Professional services and managed services help enterprises in building successful client relationships by continuously supporting them through the business tenure. Furthermore, these services benefit enterprises by maximizing the resource usage, improving project execution, and streamlining the business operations. The need for services, such as support and maintenance, would also grow, as the adoption of education and learning analytics software increases.
Academic institutions segment is expected to maintain the leading position in terms of revenue generation during the forecast period
Academic institutions, such as universities, colleges, and schools, providing K-12 and higher education are the biggest users of education and learning analytics solutions. These end-users use the solutions to analyze the behavior of students, identify patterns, and take data-informed decisions related to the students' progress. Among academic initiations, higher education institutes would continue to garner the largest revenue during the forecast period.
North America is expected to account for the largest market size during the forecast period
North America is expected to account for the largest market size in the overall Education and Learning Analytics Market during the forecast period. It is the most advanced region in terms of technology adoption and IT infrastructure. The presence of key vendors of education and learning analytics vendors, as well as the widespread awareness about these solutions would continue to constitute the largest market share during the forecast period.
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The Education and Learning Analytics Market comprises major solution providers, such as IBM (US), TIBCO (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), Tableau Software (US), MicroStrategy (US), Alteryx (US), Qlik (US), SABA software (US), Blackboard (US), Schoology (US), iSpring (US), G-Cube (India), Latitude CG (US), Mindflash (US), SkyPrep (Canada), Information Builders (US), Watershed Systems (US), Yellowfin (ýAustralia), and Enlit, LLC (US). The study includes in-depth competitive analysis of these key players in the market with their company profiles, recent developments, and key market strategies.
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