The global Education and Learning Analytics Market size is expected to grow from USD 3.1 billion in 2019 to USD 8.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period. Factors that drive the market growth are the rising need for data-driven decisions to improve the quality of education and the growing technological investment among education institutes.
Performance management segment to hold the highest market share during the forecast period
The performance management segment remains the major application in the education and learning analytics market, as organizations across all sectors adopt some form of performance assessment tools to measure the overall enterprise performance. Learning analytics aims at aligning an enterprise’s operational efficiency with the employee performance and further enables enterprises to integrate their performance management programs with their Learning Management System (LMS). Most common performance assessment tools involve a scorecard-based performance assessment approach to map the current performance of an employee/student.
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Services segment to grow at a higher CAGR during the forecast period
The education and learning analytics market by component is segmented into software and services. Professional services and managed services help enterprises build successful client relationships by continuously supporting them throughout the business tenure. These services benefit enterprises by maximizing the resource usage, improving project execution, and streamlining their business operations. The need for services, such as support and maintenance, is further expected to grow, as the adoption of education and learning analytics software increases.
The education and learning analytics market comprises major solution providers, such as IBM (US), TIBCO (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), Tableau Software (US), MicroStrategy (US), Alteryx (US), Qlik (US), SABA Software (US), Blackboard (US), Schoology (US), Latitude CG (US), Watershed Systems (US), Yellowfin (ýAustralia), BrightBytes (US), Certica Solutions (US), Civitas Learning (US), InetSoft (US), Zogo Technologies LLC (US), Ellucian (US), Hobsons (US), and D2L (Canada). The study includes an in-depth competitive analysis of these key players in the education and learning analytics market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations, partnerships, agreements, and collaborations have been the most dominating strategies adopted by the major players from 2017 to 2019, which helped them innovate on their offerings and broaden their customer base.
IBM (US) is among the leaders in the education and learning analytics market with a global presence. The company has a balanced growth strategy in the market, including strategic alliances with the key education technology solution providers and niche players diversifying IBM’s education and learning analytics product portfolio and increasing the company’s market reach. For instance, in June 2018, IBM partnered with Scholastic and Edmodo to integrate the 2 companies’ technologies with IBM’s Watson Education platform. Scholastic, a multinational publishing, education, and media company, would make available media, articles, and nonfiction content from its Scholastic Go and ScienceFlix libraries to IBM’s Watson Education platform, which would use machine learning to provide recommendations according to individual students’ abilities and curricular needs. Moreover, IBM and Edmodo, an educational technology company offering a communication, collaboration, and coaching platform to K-12 schools and teachers, would jointly develop a new tool using Edmodo’s AskMo search engine and IBM Watson Classroom’s Cognitive Library. The new tool would recommend educational content and resources aligned with students’ grade levels, ages, and interests. Furthermore, strong product innovation capabilities and focus on high-growth strategic opportunities would help the company to expand its market presence.
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Oracle (US) is another prominent player in the education and learning analytics market. Oracle offers Business Intelligence application in the education and learning analytics domain that helps academic institutions effectively manage student information, improve operations, and achieve institutional excellence. The new product launch is the major development strategy for the company in education and learning analytics space. In November 2017, Oracle announced the latest release of its Oracle Student Cloud suite of products facilitating education institutes to provide a comprehensive experience to students throughout their education lifecycle. In April 2018, Oracle acquired Vocado that provides a leading student-centric, cloud-based financial aid solution for higher educational institutions. Vocado works with thousands of financial aid sources to optimize funding for any higher education learning model.
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