Smart Education Software Market to Witness Higher Sales with Rising Use of Analytical Applications: Technavio

LONDON--()--According to the latest market study released by Technavio, the global smart education software market is expected to grow at a CAGR of almost 17% during the forecast period.

This research report titled ‘Global Smart Education Software Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers revenue generated from the sales of key software tools and technologies that are essential to implement and run a smart classroom.

Globally, the education industry is using analytics to determine ways to improve the quality of education and enhance the performance of students and improve administrative activities at schools. Universities are applying various analytical tools to analyze data while drawing out patterns and trends to understand critical phenomena, such as student dropout rates. In addition, inputs extracted can be used to take data-backed informed decisions in every phase of the educational processes. With this, administration departments in institutions can strategically develop intervention policies and corrective measures to increase student intake, depending on their resources as well as student retention. Software such as learning analytics and assessment tools acts as a data source, which collects and provides raw data to be analyzed.

Jhansi Mary, a lead education technology analyst at Technavio, says, “Vendors are undergoing strategic alliances such as M&As for marketing and penetration of the market. The market includes a number of new players as well as specialized providers that focus on specific business applications, and there is no clear leader in the market landscape.”

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Based on product, the report categorizes the global smart education software market into the following segments:

  • Assessment
  • Content
  • Learning

Global smart education software market by product 2015 (% share)

Assessment       14.58%
Content       47.40%
Learning       38.02%

Source: Technavio

Global smart education software market by content

The content industry in the digital atmosphere is driven by the sustainability of the digital publishing model and advances in technological capabilities. In the education sector, faculty and students have transitioned from hardbound and print books to digital books because of content flexibility, accessibility, and greater scope for interactive content like multimedia enabled by digital educational platforms. The emergence of e-readers and tablets in various price ranges, followed by the commoditization of smartphones, has enhanced the platform for digital educational publishing.

The smart content can be categorized into packaged content and customized content. More than 80% of the segment revenue is generated from packaged content. The scope of customization is limited due to the central and state government regulations regarding the learning content across various countries. Therefore, the majority of the demand for smart content from the K-12 segment is for a standardized syllabus.

In the higher education segment, a substantial portion of the content is standardized. However, certain vocational or skill-enhancing courses demand customized content. The degree of customization may vary depending on the complexity and format (audio, video, game-based solutions, and others) of interactive courses and the budget of educational institutions.

Global smart education software market by learning

The use of the internet in institutions is increasing significantly every year. Internet technologies and the advent of e-learning solutions have changed the way institutions provide education. Schools and colleges are adopting this software to provide technological training, examine the effectiveness of various courses, and access student details and progress reports.

The growing adoption of software such as LMS, LCMS, and SIS in educational institutions has created a strong platform for smart learning. The use of such advanced software, and interactive and visual content has simplified knowledge dissemination, allowing teachers to focus more on the performance of students. These factors will have a positive influence on the market growth.

Global smart education software market by assessment

The assessment tools refer to a range of software programs that aim at facilitating day-to-day school activities. These help in automating various administrative workflows related to crucial activities in school. They include student assessment, curriculum management, textbook tracking, finance, and recruitment of teachers and staff. These software programs simplify data collection and management and offer a platform for data analysis. At present, schools are not just imparting education but are also focused on the overall development of students.

The adoption of strategies such as blended learning, gamification, and development of cognitive skills require additional equipment, including laptops, printers, document cameras, and other hardware. Assessment tools will assist schools to manage learning and non-learning activities with respect to infrastructure, content, faculty, and lecture delivery efficiently,” says Jhansi.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Blackboard
  • Educomp Solutions
  • Instructure
  • Knewton

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About Technavio

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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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global smart education software market is expected to grow at a CAGR of almost 17% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com