The global learning analytics market is projected to grow at an exponential CAGR of 26% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. The global learning analytics market has been growing continually and is expected to reach USD 8.3 Bn by the end of 2023.
The market is perceiving high growth on account of increasing popularity of learning analytic solutions among educational institutes. Many education centers use learning analytics to analyze student data for a better understanding of student behaviour patterns and improve the learning process. Various universities are implementing technologies to raise student awareness, engagement, and motivation which is a primary market driver.
The emergence of big data gives rise to a host of opportunities for the learning analytics market. Piles of student data are being generated over the years and colleges and universities use learning analytics to turn student data into actionable insights. Admission departments, in particular, rely upon analytics to mine prospective students and target students, saving money and time. Increased expenditure and focus on the education sector and high adoption of advanced technologies in the educational field propels the growth of the market.
The rise in mobile learning and trends such as BYOD are expected to reflect positively on the market growth. On the flip side, ethical concerns regarding data collection and data privacy are significant factors impeding the growth of the market. Lack of technical expertise to implement data analytics and lack of data storage infrastructure are also presumed to hamper market growth over the forecast period. Learning analytics is still a new concept and in its nascent stage. Institutions and researchers are still far from exploring the possibilities of learning analytics.
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The notable players in the global learning analytics market include Blackboard Inc. (U.S.), IBM Corporation (U.S.), Pearson Inc. (U.K), McGraw-Hill Education (U.S.), D2L Corporation (Canada), Jenzabar (U.S.), Kronos (U.S.), Microsoft (U.S.), Oracle Corporation (U.S.), Saba Software Inc. (U.S.), SAP AG (Germany), Cornerstone OnDemand (U.S.), and Knewton (U.S.).
The global learning analytics market has been segmented based on tools, services, deployment, application, and end-user. By tools, the market has been segmented into predictive analytics, content analytics, adaptive learning analytics, discourse analytics, analytics dashboard and others.
By service, the market has been segmented into training & support, consulting service, integration & implementation and others. By deployment, the market has been segmented into on-premises and on-cloud. By application, the market has been segmented into higher education, K-12, and business enterprises. Furthermore, by end-users, the market has been segmented into BFSI, IT & telecom, retail& e-commerce, education, manufacturing, healthcare, media& entertainment, and others.
The global learning analytics market spans over regions namely North America, Asia Pacific, Europe, and the Rest of the World. North America contributes the leading revenue to the market for learning analytics, the US and Canada being the key contributors to the market.
The North America market has been expanding on account of rising application of analytics tools such as visual data analysis and social network analysis. Early adoption of advanced technologies to accelerate business operations is also a key factor that is stimulating the demand for learning analytics. The Europe market is also strong and the UK, Germany, and France are the key contributors. The Asia Pacific is slated to emerge as the fastest growing market for learning analytics over the forecast period. Gradual adoption and implementation of learning analytics in business by fast-developing countries such as India, China, and Japan can be attributed for the growth of the Asia Pacific market.
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- In August 2018, ORBCOMM, a Machine-to-Machine and IoT solutions provider, announced the release of a new cloud-based analytics service to its IoT solutions. The new analytic offering will provide broader insights and significantly improve operational efficiency.
- In July 2018, United Parcel Services Inc. has reportedly expanded the use of predictive analytics to optimize the flow of packages across the supply chain. The predictive analytics tool will help the company arrive at conclusions more accurately than ever before.
- In July 2018, Marks & Spencer (M&S) and Decoded announced a partnership to create the first ever Data Academy in retail. The M&S Data Academy will allow its employees to enroll in an 18-month in-work data fellowship programme where they will be able to learn the most cutting-edge data analytics tools.
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