CHICAGO, June 8, 2020
CHICAGO, June 8, 2020 /PRNewswire/ -- According to a new market research report "Adaptive Learning Market by Component (Platform and Services), Application, Deployment (Cloud and On-premises), End User (Academic (K-12 and Higher Education) and Enterprise (SME and Large Enterprise)), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Adaptive Learning Market size is projected to grow from USD 1.9 billion in 2020 to USD 5.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.7% during the forecast period.
The major factors driving the growth of the adaptive learning industry include rising demand for eLearning solutions, personalized learning, and government initiatives for adaptive learning solutions.
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The platform segment to hold a larger market size during the forecast period
Based on components, the platform segment of the Adaptive Learning Market is projected to hold a larger market size during the forecast period. The adaptive learning platform segment consists of products, solutions, and platforms that help learners study through the internet. Owing to the low entry cost in the Adaptive Learning Market, the number of platform providers has increased considerably in the past few years. The adaptive learning platform is capable of working as a standalone solution and is used by several clients as a standalone platform. However, in several other organizations, the adaptive learning platform is integrated with Learning Management System (LMS) that comprises other solutions as well. The adaptive learning platform supports the management of a huge pool of information and allows instructors to create content for the course and design the lesson delivery structure, creating a dynamic learning environment.
By end user, the enterprise segment to record a higher growth rate during the forecast period
Organizations and institutions in business domains, apart from the education sector, have been classified as enterprises in the report. Enterprise users include organizations catering to various verticals, such as retail, government, healthcare, and Banking, Financial Services and Insurance (BFSI). Corporate users implement these solutions as a tool to train and assess employees for providing various instructions and suggestions. Real-time mass notification solutions help enterprise management to deploy faster communication among its employees about new policies and other instructions. This segment is further classified into Small and Medium-sized enterprises (SME) and large enterprise on the basis of the number of employees in the organization.
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Asia Pacific to record the highest growth during the forecast period
The Asia Pacific (APAC) region consists of many emerging economies, such as Australia, India, China, Japan, and Singapore. The high adoption rate of new technologies has made this region a lucrative market for the education industry, and due to this, the Adaptive Learning Market in APAC is expected to grow at the highest rate. In addition, countries in the region are taking aggressive initiatives to upsurge their Information Technology (IT) infrastructure, enabling commercial users to adopt cutting-edge technologies.
The region continues to be the largest exporter and consumer of education services. APAC countries differ greatly, some being among the most technologically developed, while others still showing signs of major weaknesses in terms of adopting latest technologies. The lack of technological access in developing nations and lack of knowledge among end users pose barriers that limit the global educational technology providers from entering Asian countries.
Major vendors of Adaptive Learning Market include McGraw-Hill (US), Pearson (UK), Curriculum Associates (UK), Wiley (US), Istation (US), Area9 Lyceum(US), ScootPad (US), CogBooks (UK), VitalSource (US), DreamBox (US), Impelsys (US), Mathspace (Australia), Fulcrum Labs (US), Knowre (US), Follett (US), Imagine Learning (US), Cerego (US), Realizeit (US), K12 (US), and Houghton Mifflin Harcourt (US).
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