Global academic software market is expected to reach US$ 2,382.60 million by 2027, growing at an estimated CAGR of 12.90% over the forecast period due to proliferation of connected devices in the education sector, says Absolute Markets Insights
Software solutions offer institutions with well-organized Enterprise Resource Planning (ERP) systems that help faculty members build courses and manage classrooms and schools proficiently. App personalization, facilitated by SIS integration, targeted communication that increases the app user adoption are some factors that will assist the growth of academic software market. However, data breaches is expected to deter the overall market over the forecast period. Rising demand from students and faculty for delivering collaborative blended teaching and learning environment is expected to propel the overall market growth over the next eight years.
The introduction of smartboards that rotate through the classes, augmented reality (AR) and Virtual Reality (VR), is expected to aid the overall academic sector. IoT is about to become a game-changer in education as more and more educational institutes utilize wired smart devices to support the current e-learning and smartboard network. Some factors are leading to the rapid adoption of connected devices in training industries, including easy accessibility and availability of cloud services, which plays an important role in growing IoT popularity. For all instructor, administrators, parents and students, IoT can make life easier. Resources can be balanced and with the same commitment, a better outcome can be obtained.
The processing of student performance data across courses as well as assessments allows instructors to personalize more learning in line with their preferences and abilities. Connected devices can function as smart tutors that can automatically sense disruption and student disinterest. The details of learning on connected devices are always up-to-date and can be tailored to the specifications of the learners. Successful researchers have always partnered with one another to promote creativity by learning. Artificial Intelligence and Machine learning can be used for linking datasets, reviewing research data and obtaining knowledge to further promote science. Since these intertwined structures take over most of the computational portion, researchers may concentrate more on the analysis component.
The detailed research study provides qualitative and quantitative analysis of global academic software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major regions across United States.
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Global Academic Software Market Share in 2018, By Region
Key Findings of the Report:
- In terms of revenue, the global academic software market is expected to reach over US$ 2,382.60 million by 2027, over the forecast period due to adoption of e-learning solutions
- The solution segment captures the highest share in 2018 and is expected to continue the same trend over the forecast period
- Big institutes are building alumni networks designed for placement assistance and naming of organizations. Large amounts of data are created in years that include descriptions of former students. This is expected to drive the demand for alumni management from 2019 to 2027
- The e-learning systems for employee training are gradually being embraced by business organizations as a replacement for expensive and time intensive classroom training. The corporate academic software market is expected to reach USD 717.88 Million by 2027. Healthcare institutions are in need of individuals who have completed their training courses particular to the field they are working. Thus, such solutions and services prove to an effective mechanism for both individuals and corporates at large.
- Due to the increasing number of educational institutions particularly in China and India, Asia-Pacific is expected to exhibit highest growth rate with CAGR of 14.4% during 2019 to 2027.
- Some of the players operating in the global academic software market are Award Force, Blackboard Inc., CAMPUS CAFÉ SOFTWAR, ConexED (Campus Calibrate), D2L Corporation, Edvance360, Envisio, Ex Libris Ltd, FULL FABRIC, Hyland Software, Inc., Instructure,Inc, Poll Everywhere, Populi, Power Vista Software, Inc., Qualtrics, Survey Monkey Apply, Thinkific, Tophatmonocle Corp., TrueDialog, Wizehive amongst others.
- By Offerings
- By Applications
- Library Management
- Submission and Evaluation Management
- Learning Management
- Alumni Management
- Student Management
- By End User
- Higher Education
- Corporate Learning
- Banking, Financial Services and Insurance
- By Geography
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America