LONDON--(BUSINESS WIRE)--Technavio analysts forecast the virtual schools market in North America to grow to over 1 billion enrollments by 2021, at a CAGR of close to 13%, according to their latest report.
The research study by Technavio on the virtual schools market in North America for 2017-2021 provides a detailed industry analysis based on ownership (private education management organizations (EMOs) and Non-profit EMOs) and countries (the US and Canada).
|Schools where teaching is done primarily through online methods are called as virtual schools. Private EMOs constitute the leading revenue generators of the market, with enrollments growing at a phenomenal rate. The average student-teacher ratio and the on-time graduation rate are the key factors driving the increasing enrollments.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the virtual schools market in North America:
- Increase in online content development and digitization
- Demand for cloud-based e-learning
- Rise in custom learning methods
Increase in online content development and digitization
“E-learning course providers are creating and delivering content based on the availability of innovative new technological tools, which have become a crucial part of online education or training systems,” says Jhansi Mary, one of the lead analysts at Technavio for education technology research.
Learning management system (LMS) and learning content management system (LCMS) are the most widely adopted platforms used to create, manage, deliver, and share e-learning content with users. Additionally, technologies such as LearnTrak and XpertLearning offers better space management on learner’s devices, m-learning, accessibility, and critical business information and learning materials, leading to increasing adoption.
Demand for cloud-based e-learning
E-learning platforms are witnessing exponential growth rates, leading educators to seek on-demand services for smooth integration of tools and technologies to improve the learning process. Cloud computing services have proved themselves as being highly advantageous due to its effective service model, leading to its increasing adoption in the virtual schools market to keep up with customer expectation and demand. Most organizations are shifting towards software as a service (SaaS)-based solutions due to their speed of implementation, lower capital expenditure, and a more secure socket layer connection. These advantages are leading to a swift penetration of virtual schools in the education sector.
Rise in custom learning methods
Virtual schools are becoming popular among the children of parents who prefer this innovative teaching tool due to lifestyle, geographic, or other family considerations. Also, students who pursue sports seriously find virtual schools as a welcome option due to the flexibility they obtain in their busy schedules.
“Currently, a large number of online courses are available in an ever-increasing number of virtual schools. Most courses are complemented by in-class work and hands-on practical training to help students excel in their respective areas of study,” says Jhansi.
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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, resellers, and end-users.
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