REDDING, Calif., July 5, 2022 /PRNewswire/ — According to a new market research report titled, “Education and 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″, the education & learning analytics market is expected to grow at a CAGR of 23.8% from 2022 to 2029 to reach $36.59 billion by 2029.
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Education & learning analytics describes the use of data to understand learners’ needs and improve educational services accordingly. It can be used to test the effectiveness of different learning techniques, track students’ progress and identify areas for improvement, and give educators insight into the most successful tactics. The learning analytics (LA) market is rapidly growing in educational institutions globally, especially for higher education and Massive Open Online Courses (MOOCs) providers, which drive the need to improve students’ success rates, retention, learning experience, and course material efficiency.
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 & 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 Impact of COVID-19 on the Education & Learning Analytics Market
Before the outbreak of COVID-19, educational institutions had started effectively incorporating data analysis, slightly boosting the education & learning analytics market from its nascent stage. The shutting down of schools, academic institutions, and educational enterprises compelled learners to adopt the remote learning approach to manage their syllabus and courses. Many universities successfully transitioned to e-learning. For example, Zhejiang University (China) managed to get more than 5,000 courses online just two weeks into the transition using DingTalk ZJU. Imperial College London started offering a course on the science of coronavirus, which was launched on Coursera, becoming the most enrolled course in 2020. Also, governments across the globe made efforts to devise open-source e-learning solutions to provide education to all students regardless of their technical barriers. For instance, the Government of India developed several free e-learning platforms such as SWAYAM, DIKSHA, and NPTEL for learners pursuing various courses.
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Thus, with the growing adoption of remote learning and e-learning platforms, institutions can leverage learner/student data to make future decisions to support institutional progress and improve learners’ performance. Thus, the adoption of learning analytics is expected to grow exponentially in the coming years. The COVID-19 pandemic had a significant impact on incomes, and as a result, many governments across the globe ordered schools and other educational institutions to reduce tuition fees to provide some relaxation to learners. This factor lowered the adoption of newer technologies among educational & academic institutions due to being largely non-essential. However, learners’ growing dependency on e-learning platforms is expected to encourage the adoption of learning analytics solutions & services among educational & academic institutes, boosting the growth of this market in the coming years.
Extensive Government Initiatives for Education Modernization
Learning analytics explores the relationship between learning system usage and various outcomes, which can positively impact students, faculty, administrators, researchers, and learning system designers. In order to increase the productivity of students, learners, and faculties, governments worldwide are undertaking initiatives to promote education & learning analytics. For instance, in 2021, the Ontario government announced making a USD 50 million investment in virtual learning and educational technologies to help expand access to high-quality, market-responsive, and globally competitive ‘Ontario Made’ education. Thus, growing government initiatives supporting and promoting the incorporation of education & learning analytics are expected to drive the growth of the learning analytics market.
In developing countries, governments are focused on encouraging educational institutions to adopt modernized learning techniques by developing ICT infrastructure and enhancing internet connectivity, driving the adoption of learning analytics solutions. For instance, initiatives by the Indian government, such as SWAYAM, E-Basta, Rashtriya Madhyamik Shiksha Abhiyan (RMSA), Skill India, and Digital India are enabling modern ICT infrastructures needed by students and teachers in the country. Furthermore, governments of other developing countries in Asia-Pacific, including Singapore, Malaysia, and Thailand, also consider analytics an effective way for development across different sectors, including education & learning. Thus, supportive government initiatives are expected to encourage modernized learning, driving the growth of the education & learning analytics market.
Some of the government initiatives in this space are as follows:
In 2021, the U.S. government passed a new law, the American Rescue Plan Act of 2021 (ARPA), providing a total of USD 170.3 billion in funding for education. This funding includes more than USD 125.4 billion for state K–12 public education programs and USD 39.6 billion for higher education, with the remaining funds going to other educational programs and activities. The act also provides USD 7.2 billion in funding for the federal E-Rate program, which will be extended to provide devices and connectivity to students, educators, and patrons of public libraries.
In 2020, the Australian Ministry of Education announced plans to invest USD 50 million through 2024 to support university-initiated proposals designed to increase innovation, capability, and efficacy in higher education. The ministry approved 35 proposals at 22 public universities in the areas of Digitization in Teaching and Learning, Learning Analytics, Skills for the Digital Age, Usage of Digital Transformation for the Social Dimension, Open Science and E-Administration.
In 2019, the German government announced plans to invest USD 5.9 billion (EUR 5 billion) between (2019–2024) in digitalizing the country’s education sector.
The global education & learning analytics market is segmented by offering (software and services), deployment (on-premise and cloud-based), application (people acquisition & retention, operations, performance management, and others), user group (academic institutions and corporate users), and geography. The study also evaluates industry competitors and analyses the market at the country level.
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Based on offering, the global 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. 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 global education & learning analytics market is segmented into on-premise and cloud-based. In 2022, the cloud-based segment is expected to account for a larger share of the global education & learning analytics market. This segment is also expected to grow at a higher 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. 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. The segment is also expected to grow at the highest CAGR during the forecast period.
Based on geography, the market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. The high growth rate is attributed to rapidly developing economies, the presence of a young and tech-savvy population in this region, rising disposable incomes, rapid infrastructure development, growing proliferation of cloud computing and smartphones, and the growing sense of responsibility towards the environment.
The global Education & learning analytics market is consolidated and dominated by a few major players, namely 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), Latitude CG, LLC (U.S.) and among others.
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Scope of the Report:
Education & Learning Analytics Market, by Offering
Software
Services
Education & Learning Analytics Market, by Deployment Mode
On-premise
Cloud-based
Education & Learning Analytics Market, by Application
People Acquisition & Retention
Curriculum Development
Operations Management
Finance Management
Performance Management
Other Applications
Education & Learning Analytics Market, by User Group
Academic Institutions
Corporate Users
Education & Learning Analytics Market, by Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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