Competency-Based Platforms Market for Higher Education in the US Will Grow at a Stupendous CAGR of 22% Until 2020: Technavio

LONDON--()--Technavio’s latest report on the competency-based platforms market for higher education in the US provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The number of students enrolled in competency-based education programs has grown from around 50,000 students in 1990 to around 200,500 in 2015 in the US. It is expected that by 2020, there will be around 750 colleges offering competency-based education programs with over 500,000 enrollments. It is expected that by 2020, students aged 25 years and above will form around 44% of the tertiary education student population. This represents a huge potential for the competency-based education market in the US.

Jhansi Mary, a lead analyst from Technavio, specializing in research on education technology sector, says, “Several higher education institutions will offer competency-based education programs and the market will grow as corporates and employers get involved to promote skill-specific education to close the widening skill gaps. For instance, AT&T has been providing funds to Udacity and Georgia Institute of Technology for developing online programs, since 2013.”

Request a sample report: http://www.technavio.com/request-a-sample?report=53134

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

The top four emerging trends driving the competency-based platforms market for higher education in the US according to Technavio education research analysts are:

  • Emergence of digital badges
  • Change in assessment methodologies
  • Learning analytics in competency-based education
  • Emergence of learning relationship management systems

Emergence of digital badges

Competency-based education has propelled the market for educational credentials other than traditional credentials, such as degrees, industry certifications, licensures, and certificates. An innovation in educational technology that is expected to benefit from the emergence of competency-based education is digital badges or microcredentials.

A digital badge is an indicator of skills and accomplishment earned in a learning environment. Apart from digital badges, other terminologies often used synonymously include open badges, micro-credentials, and educational badges. It is an interactive image that can be posted on a web page and linked to data such as issuer information, criteria, curriculum, rubric, evidence, expiration date, learning pathway, and time of issue. It allows for validation of skills and helps make mastery in a skill more transparent and portable.

Change in assessment methodologies

Competency-based education allows students to learn at their own pace by offering individualized and adaptive learning paths, supported with appropriate learning resources. In this regard, the US Education Department (ED) and the Council of Regional Accrediting Commissions (C-RAC) have defined two categories of assessment models, namely Credit Equivalency and Direct Assessment models that define the standards for institutions and accrediting bodies associated with competency-based education.

In order to shift from traditional education paradigms to competency-based education model, institutions need to specify the metrics to be evaluated, along with benchmark levels to be achieved in their assessment methodologies. Institutions are also adopting competency education platforms along with assessment tools that ensure performance results are reviewed, analyzed, and shared with the stakeholders. For instance, Western Governors University refined its assessment development framework to make assessment development more rigorous with reliable and psychometrically sound assessments.

Learning analytics in competency-based education

Learning analytics software uses tools and applications for collecting, managing, and analyzing both structured and unstructured data to improve multiple processes and activities that are a part of the education industry. It also helps achieve strategic goals and enable better decision making. It has applications in various aspects of education and since it is a growing market, it is expected to get influenced further in tandem with the evolving needs of institutions. The tools used mostly are content analytics, adaptive learning analytics, functional support analytics, social media analytics, and predictive analytics.

Since most competency-based education programs are self-paced where students have an independent learning environment, learning analytics tools are necessary to ensure that there are accurate metrics to track the progress and performance,” asserts Jhansi.

Emergence of learning relationship management systems

The higher education market is seeing the emergence of learning relationship management systems. These are software tools used to measure student progress by tracking the mastery of competency real-time and facilitating communication between various stakeholders such as teachers, students, parents, and counselors.

The higher education market is seeing the emergence of learning relationship management systems. These are software tools used to measure student progress by tracking the mastery of competency real-time and facilitating communication between various stakeholders such as teachers, students, parents, and counselors.

The key vendors are as follows:

  • BNED LoudCloud
  • D2L
  • Ellucian
  • Flat World Education

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

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.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

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

Release Summary

Technavio’s latest report on the competency-based platforms market for higher education in the US provides an analysis on the most important trends expected to impact the market outlook until 2020.

Contacts

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