LONDON--(BUSINESS WIRE)--Technavio research analysts are expecting positive growth for the global education technology market over the next four years. Between 2016 and 2020, many segments of the education technology market, including lecture capture solutions, student information management systems, education hardware, online language learning, and adaptive learning, will witness an increase in revenues.
Currently, cloud-based lecture capture solutions are in vogue. It is fast emerging as the most preferred form of delivering lectures to users and is expected to be widely deployed by organizations involved in online education. With this, the global lecture capture solutions market is slated to reach USD 672.25 billion by 2019.
Apart from the global lecture capture solution market, the second most sought after education technology in the market is student information management systems. This market is expected to record a CAGR of more than 15% until 2020, thanks to the growing need for workflow automation in education institutions.
“In an effort to digitize education, institutions are increasingly using desktops, projectors, and sound systems that enhance learning experience. These devices are increasingly becoming a part of the system pedagogy as they help improve the quality of education being imparted. These tools and devices are therefore finding widespread applications in recording classroom lectures and improving student teacher interactions,” said Jhansi Mary, one of Technavio’s lead analysts for education hardware research.
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One of the fastest growing segments is the global online language learning market, which is anticipated to attain a CAGR of approximately 10% during the forecast period. The increase in demand for multi-lingual professionals in the corporate sector is one of the key growth drivers for this market. Factors such as the recent advances in technology in online learning will further impel the prospects for this market’s growth over the next four years.
Technavio analysts have observed that social learning is rapidly gaining prominence as it offers an informal way of learning through interactions with different participants. Many institutions are expected to leverage the use of adaptive learning software solutions to capture data from social networking sites and gain useful insights. The data collected by this method can thereafter be used by students to learn remotely at their chosen time.
Some of the key vendors for education technology include McGraw-Hill, Panopto, and Sonic Foundry for lecture capture; Jenzabar and Oracle for student information systems; Apple, Dell, and BenQ for education hardware; and D2L, Dream Box Learning, and Knewton for adaptive learning.
Browse related reports:
- Global E-learning Market 2016-2020
- Global Corporate E-learning Market 2016-2020
- Global Blended E-learning Market 2015-2019
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