(IT-NEWSWIRE.COM, January 07, 2020 ) 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, Deployment, End User, and Region - Global Forecast to 2024", The global education and learning analytics market size is expected to grow from USD 3.1 billion in 2019 to USD 8.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period. The key factors driving the education and learning analytics industry include the rising need for data-driven decisions to improve the quality of education and growing technological investments in education sector.
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Performance management segment to hold the highest market share during the forecast period
The performance management segment remains the major application in the education and learning analytics market, as organizations across all sectors adopt some form of performance assessment tools to measure the overall enterprise performance. Learning analytics aims at aligning an enterprise’s operational efficiency with the employee performance and further enables enterprises to integrate their performance management programs with their Learning Management System (LMS). Most common performance assessment tools involve a scorecard-based performance assessment approach to map the current performance of an employee/student.
Services segment to grow at a higher CAGR during the forecast period
The education and learning analytics market by component is segmented into software and services. Professional services and managed services help enterprises build successful client relationships by continuously supporting them throughout the business tenure. These services benefit enterprises by maximizing the resource usage, improving project execution, and streamlining their business operations. The need for services, such as support and maintenance, is further expected to grow, as the adoption of education and learning analytics software increases.
Academic institutions segment to maintain its lead in terms of revenue generation during the forecast period
Academic institutions, such as universities, colleges, and schools that provide K-12 and higher education are the biggest users of education and learning analytics solutions. These end users utilize these solutions to analyze the behavior of students, identify patterns, and make data-informed decisions related to the students’ progress. Among academic institutions, higher education institutes are expected to garner high revenues during the forecast period.
North America to account for the largest market size during the forecast period
North America is expected to account for the largest market size in the global education and learning analytics market during the forecast period. It is the most advanced region in terms of the adoption of technology and Information Technology (IT) infrastructure. The presence of key education and learning analytics vendors, as well as the widespread awareness about these solutions is further expected to contribute to the growth of the largest market size during the forecast period.
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), Latitude CG (US), Watershed Systems (US), Yellowfin (ýAustralia), BrightBytes (US), Certica Solutions (US), Civitas Learning (US), InetSoft (US), Zogo Technologies LLC (US), Ellucian (US), Hobsons (US), and D2L (Canada). The study includes in-depth competitive analysis of these key players in the education and learning analytics industry with their company profiles, recent developments, and key market strategies.
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Mr. Shelly Singh