Owing to the emerging needs and trends, the learning analytics market has a lot of scope for global growth in its major functional geographies. The market players predict a good CAGR growth for the market during the forecast period of 2017-2023. The CAGR quantum of the expected growth stands at 26%. The global market is likely to reach a final market value worth USD 8.3 billion. For the historic forecast period that had ended in 2019, the global Learning Analytics market was valued at a market sum worth USD 3.1 billion.
Learning analytics relates to the science of analytical reasoning. The learning analytics gain the required support from the interactive learning interfaces. These are considered to be an integral and vital part of the approach. The approach related to learning analytics makes use of a combination of learning, along with data analysis in collaboration with the human factors. The methods that are involved in learning analytics help in better decision-making. This further has a role to play in combining human flexibility and creativity along with the background knowledge related to storage and processing capacities. The storage and processing capacities are in context to the computers that are in use in the current scenario. These help in gaining meaningful insights into complex-natured problems. Owing to the benefits offered, there is a great demand for implementing the analytical tools amongst various entities and enterprises in the long run.
The coronavirus pandemic is bringing along a lot of challenges and difficulties for the healthcare sector. Though the demand for various kinds of medical services was on a rise during the various waves of the coronavirus pandemic, there are many challenges lined up for other market and business units. Due to the operational restrictions and lockdown imposed by the various governments of countries, the businesses that make the traditional use are having a tough time. The need of the hour to cope up with the negative impacts due to the pandemic is to make a shift to the world of digitization and explore what the learning analytics market has to offer in terms of analytical reasoning.
To help the businesses recover the losses that they witnessed during the pandemic owing to reasons like unavailability of labor and raw materials, the government is coming up with regulations that support the wide adoption of learning analytics. Also, the key market players are investing in the research and development techniques that will further make the way for global mergers and acquisitions between companies that will help them emerge as global leaders by the end of the global forecast period ending in 2028.
Based on the learning analytics market trends, the banking, financial services, and insurance (BFSI) Industry are expected to have the largest market share by the end of the forecast in 2023. The main reasons that are driving the growth of the global market are that the market services are rendering benefits like simplifying the workloads that are related to security purposes. Also, the market is witnessing an increase in the dependence on the data that is a result of different kinds of IT systems and are also used for seamless completion of financial transactions. Once the companies begin adopting the learning analytics on a large scale, they will help in providing real-time solutions and streamlining the business processes under various industry vertices.
The need of the market is to work upon its cost-effectiveness along with the features that make the judicious use of the employed time as well. This is one of the main requirements for various small, medium, and large-sized enterprises and their market vertices. These enterprises have a large demand for the deployment of solutions that are not very expensive and ensure a mass benefit during the tenure for deployment.
The learning analytics market functions across an array of fields like IT, sales and marketing, supply chain mechanism, finance and HR, shop floor, and product management. Many organizations, in the course of the deployment of these services, are opting for on-premises and on-demand cloud solutions. The focus is to make judicious use of resources that will cater to the interests of various customers and does not burden their budgets with an expensive price. The learning analytics vendors and their demand are likely to increase in the future in the next 5 years.
The global learning analytics market has been divided into various segments for better functioning and revenue collection across the major geographies of the world. The learning analytics market has been segmented into the following segments globally:
Based on Applications:
Based on Components:
Based on Deployment Model
Based on end-users:
Based on the trends, opportunities, along with the market segmentation, out of the four major economies of the world, the North American region is expected to have the highest growth in the learning analytics market that will be witnessing the emergence of factors that will help in enjoying dominance over the market by the end of the global forecast period in 2023. The main reason behind this is the rise in the technological advancements backed by the wide-scale and early adoption of these solutions by the target audience in this region.
The learning analytics market opportunities help in predicting how the key market players are grabbing them and converting them into something profitable for the global market. Also, these propelling market opportunities have a major role to play to analyze the competition prevailing in the market and draw a competitive graph that will help the regions enjoy dominance over the market by the end of the forecast period in 2023. Further, the competitive landscape helps in indicating the role of the prominent market players, and their recent developments that help in making a difference to the market revenue quantum, CAGR growth, and the global Learning Analytics market valuation. The key market players of the global learning analytics market share are as follows:
In October 2019, one of the prominent market players of the Learning Analytics Market - Microstrategy took to the international scale and announced a new technology partnership with DataRobot, a leader in enterprise Artificial Intelligence (AI), to make it easier for businesses and creative ideas like for the integration of AI into their web and mobile applications and core processes by using HyperIntelligence cards to generate AI-driven insights and recommendations.
In October 2019, another prominent market player - SAS Institute released an updated SAS Viya on the SAS platform that is known to be offering the latest advanced analytics and AI techniques accessible to both data scientists and business users.
In October 2018, Oracle which is one of the most prominent companies that internationally announced the latest release of its Oracle Student Cloud suite of products, including Student Management, focused on support for traditional programs. It functions and delivers a complete student lifecycle platform with new cloud enhancements that wrap financial planning and other services into one solution.
The global learning analytics market research report has been prepared to help the market investors and buyers in studying the market overview and objectives. The global report discusses that the market had an impact due to the outbreak of the pandemic and the growth opportunities that are in store for the market. Further, the global report talks about the market segmentation and its functioning in major geographies that further, help in understanding the competitive market scale. The market report mentions the recent developments of the key market players that predict the market CAGR growth and final valuation of the period 2017-2023.
|Market Size||USD 8.3 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Tools, By Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Blackboard Inc. (U.S.), Microsoft (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pearson Inc. (U.K), Saba Software Inc. (U.S.), McGraw-Hill Education (U.S.), SAP AG (Germany), and D2L Corporation (Canada), Cornerstone OnDemand (U.S.), Jenzabar (U.S.), Knewton (U.S.), and Kronos (U.S.).|
|Key Market Opportunities||Rising need to evolve the competitive strategies to sustain the market and surging focus on personalized learning is expected to be the major trends for the learning analytics market over the forecast period.|
|Key Market Drivers||Asia Pacific is also anticipated to be the fastest growing region in the learning analytics market over the forecast period.|
A USD 8.3 billion income is predicted by 2027 for the market in the coming period.
A 26% CAGR is estimated to define the development of the market in the imminent years.
McGraw-Hill Education (U.S.), Saba Software Inc. (U.S.), D2L Corporation (Canada), Cornerstone OnDemand (U.S.), SAP AG (Germany) and Jenzabar (U.S.) are the market contenders.
The increased focus on personalized learning is estimated to play a major role in market development.
Content analytics, predictive analytics, adaptive learning analytics, analytics dashboard, and discourse analytics are some of the products seen in the market.