May 21, 2020 4:38 PM ET
iCrowd Newswire – May 21, 2020
The global education and learning analytics market was valued at US$ 3,277.9 million in 2019 and is expected to reach US$ 16,835.9millionby 2027; it is expected to grow at a CAGR of 23.3% from 2020 to 2027. Learning analytics has emerged from varied branches of science, including psychology, statistics, sociology, data mining, information science, and machine learning, to understand data collected during teaching, learning, and education administration, among other services. Thus, learning analytics signify analysis of a huge volume of data originated and gathered from several sources by students and researchers for evaluating the performance assessment of students. Usually, learning analytics is restricted to evaluate student performance; however, with growing progress in the market, it has extended to business enterprises as workforce management. The workforce management is performed through gathering and analysing the data, anticipating the workload, assessing the staff requirements, preparing the staff schedules as well as measuring the daily assessment. There are several tools used in learning analytics, such as predictive analytics, adaptive learning analytics, content analytics, analytics dashboard, and discourse analytics.
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Impact of COVID-19 on Education and Learning Analytics Market
Educational institutions worldwide are responding to travel bans as well as quarantines with a move to online learning. The emergency may initiate an online boom for education – or it may at least make countries more ready to manage with the next emergency. The US is the worst-hit country in North America. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. Over 50 million K-12 students in the country are learning from home, using online learning tools, in an attempt to slow the spread of the disease.
Learning analytics use social network analysis to assess student-to-student as well as student–teacher relationship and support interaction sessions for recognizing student performance. Growing need to develop competitive strategies to withstand the market and rising focus on personalized learning is anticipated to be the key trend for the learning analytics market. Also, the increase in the adoption of mobile devices such as laptops, smartphones, and tablets is projected to offer prosperous opportunities to the market. On the other hand, lack of technical know-how to implement learning analytics, along with lack of data storage infrastructure, is expected to be a key restraint for the market growth. Several countries across the world are significantly investing in R&D for learning analytics. The US was recognized as one of the world leaders in the field of R&D and the application of learning analytics. For several years, learning analytics has been regulated at the national level.
Merger & acquisition strategy is commonly adopted by companies to expand their footprints worldwide and meet the growing demand. This strategy ismostlyobserved in North America and Europe. The players present in the education and learning analytics marketadopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally. A few of the recent acquisitions are listed below;
2019: SAS Institute Inc. invested in the people behind the analytics to help educate the new generation to change what is possible and to train a workforce for a transformed economy. Several new programs and initiatives – all part of the overall commitment SAS has to promoting analytics education for all – were introduced during SAS® Global Forum 2019.
2019: Microsoft Corporation rolled out its K12 Education Transformation Framework more widely to schools across India at the second edition of the Microsoft Education Days in Gurgaon, India. Microsoft Education Days 2019 brought together more than 700 school leaders, educators, students, and Microsoft partners to deliberate on the future of learning. It featured sessions moderated by Microsoft leaders and Microsoft Innovative Educator (MIE) Experts on using technologies such asAI, Teams, Minecraft, and Flipgrid to collaborate and create unique learning experiences. Teachers and students from schools across India also demonstrated innovative ways in which they are digitally transforming education by bringing in AI, gamification, personalization and simplifying STEM (science, technology, engineering, mathematics) learning for students.
- Watershed Systems, Inc.
- SAS Institute Inc.
- SAP SE
- Microsoft Corporation
- Happiest Minds
- Ellucian Company L.P.
- Blackboard Inc.
- Alteryx Inc.
- InetSoft Technology Corp.
- Saba Software, Inc.
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