The learning analytics market is expected to witness a growth at a CAGR of 20.9% over the forecast period. Learning analytics is no different from the analytics used in the learning or education domain. It measures, collects, analyses, and finally reports data about the learners, for understanding and optimizing the learning environment and increase efficiency.
– The learning analytics solution offers features in learning management elements such as visualization of activity, recommendations about further readings, and self-assessment questionnaires, among others. The rising need for data-driven decisions to improve education quality is one of the major factors fueling market growth globally.
– Additionally, the online learning model is proliferating in the education sector. This has enabled the education providers to understand learners quantitively and make decisions about it as well as for future learners. According to the recent 2019 Workplace Report, 42% of the Millennial population and 43% of the Gen Z population in the United States want entirely self-directed and independent learning models.
Increasing Learning & Development Budget towards Online Learning is Fuelling the Market Growth
– In recent years, organizations have indicated the increased budgets and executive support for employees to play a more strategic role. According to the recent study by LinkedIn Learning, In the period of 2017 to 2019, 59% of talent developers spend more of their budget on online learning, and 39% Learners spend less on instructor-led training (ILT). Hence, companies have been adopting learning analytics solutions.
– The Learning and Development professionals have been expanding their budget towards online learning to close the vital gaps to stay competitive. In 2019, only 27% of the L&D professionals had mentioned budget as a roadblock. While the online learning models cannot completely replace the in-person training, organizations have mentioned that it is important to enabling next-generation to upskill when and where it is needed.
– Kellogg has mentioned investing in an online learning program for empowering its more than 10,000 employees. Along with this, the company has also adopted learning analytics solutions to gain value-added insights on the learners. With this adoption, the company was able to upskill at the moment with online learning, right within the flow of work.
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North America is Expected to Witness Significant Market Growth
– The United States leads the North American market for predictive and prescriptive analytics, owing to early and heavy usage of advanced analytics across the majority of its industries. According to the Digital Change Survey done by IFS in 2019 to assess the maturity of digital transformation in the education sector, 46% of the companies are looking to invest in big data and analytics in the country.
– According to the EDUCAUSE IT workforce report 2019, “Business Analyst” has been one fo the most commonly added new position to the organizations in the United States. The organizations are highly interested in engaging with and taking responsibilities required and educational potential offered through analytics.
– The universities in the region are increasingly making investments for adopting advanced technology, which is estimated to drive market growth. For instance, in June 2020, California-based Anaheim Union High School District has partnered with The Absolute Control Solutions for intelligent management of their fleet of almost 30,000 student devices for analytics.
The learning analytics market is highly fragmented due to the presence of many small and medium-sized companies that are competing with each other and also with large enterprises. Some key players in the market include IBM, Microsoft, Oracle, among others. Some key recent developments in the market include:
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