LONDON--(BUSINESS WIRE)--Technavio analysts forecast the education technology market in Europe to post a CAGR of more than 10% and exceed USD 64 billion in revenue by 2019, according to their latest report.
The research study covers the present scenario and growth prospects of the education technology market in Europe for 2015-2019. The market is further divided into two end-user segments, which include K-12 schools, accounting for over 47% of the overall market share, and post-secondary institutes with more than 52%.
Technavio education sector analysts highlight the following four factors as the major growth drivers for the education technology market in Europe:
- Integrated education ecosystem
- Government initiatives
- Strengthening of learning process
- Penetration of cloud-based learning analytics
Integrated education ecosystem
Digitization is changing the entire education ecosystem. The installation of key digital infrastructure provides many significant learning advantages over the traditional physical classroom. Technological innovations such as e-learning, education gamification, inclusion of rich-media digital content, and the usage of the Internet to connect and collaborate has encouraged the adoption of new digital learning models that combine a variety of digital hardware, digital content, and digital software.
According to Faizan Akhtar, a lead analyst at Technavio, specializing in research on education technology, “Globally, there is substantial investment to improve ICT and encourage entrepreneurship, which is creating new and innovative business opportunities and expanding the education ecosystem. The evolution and adoption of digital technologies in the education sector in Europe is providing better revenue opportunities for education software and technologies vendors as the market remains largely untapped.”
Governments across Europe are implementing various policies to support the growth of the education sector, which are expected to advance the usage of digital technologies in education. For instance, Europe 2020 is a strategy to improve the areas of education, employment, innovation, social inclusion, and energy by 2020.
“One of the major initiatives in Europe 2020 that focuses on employment and education is an initiative named Youth, which aims to help students and trainees gain experience in respective countries and to gain employment. It also aids to the improvisation of quality and attractiveness of education and training throughout Europe,” says Faizan.
The report also asserts that these government initiatives are being taken in conjunction with building more infrastructure for Internet penetration to facilitate the expansion of smart technologies. Governments across Europe are driving the IT market by making huge investments in education technology and e-learning methods to reduce costs and provide education to more people. This is expected to drive market growth during the forecast period.
Strengthening of learning process
Digital media has improved the learning methodology in various subjects such as physics, environmental sciences, astronomy, mathematics, and chemistry. Information can be presented in a more effective way by making use of various types of digital media.
The integration of digital media helps in enhancing the quality of illustrations and the explanation of complex ideas by making use of interactive visualizations. Various simulation and modeling tools also help in explaining many concepts by using three-dimensional and temporal scales. “The use of data displays, timelines, and interactive maps provide visual links between taught lessons and new ideas. Education technology also helps in providing tools and technologies to streamline learning processes,” adds Faizan.
Penetration of cloud-based learning analytics
Learning analytics is an application primarily used to interpret data collected to support process efficiencies in the areas of finance, payroll, and HR. A significant proportion of educational institutions, especially in developed countries, are planning to move their learning analytics to the cloud as there are many cloud options for administrative analytical activities. Cloud computing helps in cost reduction while managing complex data and crucial analysis. In addition, cloud-based learning analytics improves data management and mobility, irrespective of the complexity of business operations. These broad operational, strategic, and cost benefits attract educational institutions to adopt these solutions.
Browse Related Reports:
- Global 3D Printing Market in Education: Research Report 2015-2019
- Global Education Gamification Market: Research Report 2015-2019
- Global Education Apps Market- Market Study 2015-2019
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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