BANGALORE, India, Nov. 9, 2020
BANGALORE, India, Nov. 9, 2020 /PRNewswire/ -- A new K-12 Education Technology Market Research Report published on Valuates Reports in Education Category. The report contains segmentation by Type (LMS, LCMS, LCDS, SRS, Assessment Systems, Collaboration Systems), by Technology (Educational Analytics, Educational Gaming, Educational ERP, Educational Dashboard, Educational Security), by Application (Online, Offline). It also covers Global Opportunity Analysis and Industry Forecast to 2026.
The global K12 Education Technology market size is projected to reach USD 45190 Million by 2026, from USD 11850 Million in 2020, at a CAGR of 25.0% during 2021-2026.
The demand for the K-12 education technology market is at a turning point. State and local educational agencies are reinventing themselves around remote learning and increasing the value of cost-effectiveness in spending decisions by tightening school budgets. There's an increasing demand among parents for instruments that engage and educate their children.
Major factors driving the growth of K-12 education technology market size are the proliferation of smart devices and seamless internet connectivity and increasing awareness pertaining to the advantages of technology integration in the education sector.
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TRENDS INFLUENCING THE K-12 EDUCATION TECHNOLOGY MARKET
The introduction of technology in education enables schools and universities to deliver creative solutions, such as e-books, Augmented Reality (AR)/Virtual Reality (VR) interactive content, and recognized university approved online courses. This, in turn, is expected to drive the growth of the k-12 education technology market size.
Growth in the adoption of education technology (EdTech) tools in both the academic and non-academic sectors is expected to have fueled the growth of the k-12 education technology market size. The K-12 and higher education sectors have seen an increased acceptance of EdTech solutions and offerings.
Some of North America's major higher schools and educational organizations are gradually moving their focus from the legacy EdTech education system to online EdTech solutions. AI incorporation in schools in order to automate tasks, such as grading subjects and providing input, is expected to propel the k-12 education technology market size.
TOP COMPANIES IN THE K-12 EDUCATION TECHNOLOGY MARKET
The K-12 Education Technology market is less concentrated with the top two companies from China, which altogether held over 13% of the market in 2019. Though now Europe is the leading region in the market, India and China are believed to have a faster growth rate. Since it is a relatively new industry, the market is expected to grow rapidly in the following years, with 25% per year.
Some of the top companies in the k-12 education technology market are
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K-12 EDUCATION TECHNOLOGY MARKET SHARE ANALYSIS
North America is expected to hold the largest k-12 technology market share. This dominance of North America is attributed to the growing investments from venture capitalists and private-equity investors. Companies with substantial sales growth are projected to receive higher investment as the sector matures and separate themselves from newly entered market players.
The Asia Pacific is expected to witness the highest growth during the forecast period. The growing prevalence of computing and smart devices among the masses can be attributed to the growth of the Asia-Pacific region. In recent times, a surge of affordable internet connectivity has been seen in developing countries such as India, leading to wider adoption of K-12 education technology.
Middle East & Africa
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K-12 EDUCATION TECHNOLOGY MARKET SEGMENTATION
By Enabling Technology
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The Global Learning Management System (LMS) Market size to grow from USD 9.464 Billion in 2019 to USD 29.901 Billion by 2025, at a CAGR of 21.13%.
Major factors driving the growth of the learning management system market are acceptance of digital learning, growing tendency towards BYOD regulation, need for mobile delivery of the content and business versatility.
LMS's main goal is to monitor the learning process and create an interactive learning environment. The LMS makes workers more successful, which would help business organizations in turn. The growing adoption of LMS by corporations for employees skill training is expected to increase the learning management market size.
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The Assessment in Higher Education Market is fragmented with many global and local players.
While there will be tremendous growth opportunities for the transformation of educational institutions to formative evaluation, the increasing deployment of open source software will threaten the growth of market participants. Market vendors should concentrate more on the growth prospects in the fast-growing segments to make the most of the opportunities while retaining their positions in the slow-growing segments.
This Assessment in Higher Education Market report offers a comprehensive overview of market leaders and provides information on the competencies and strengths of these businesses in order to help clients strengthen their market position.
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The Global Education ERP Software Market size is expected to grow from USD 7,180.27 Million in 2019 to USD 11,202.76 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 7.69% during the forecast period.
Major factors driving the growth of Education Enterprise Resource Planning Software Market size are increasing demand for video-based learning, improved performance of administrative modules, rising urbanization in developing countries, increasing middle-class population and surge in the adoption of smart education ERP solutions globally.
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The Education Technology market will grow at a CAGR of 15.4% during the period 2018–2024.
Increasing the adoption of digital learning, increasing propensity to bring your own device (BYOD) policy and enterprise mobility, comprehensive government initiatives for the advancement of LMS, increasing use of artificial intelligence (AI) and machine learning (ML) in LMS are the major factors driving the Education Technology Market size.
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