Publication Month: Jan 2021 | Report Code: TIPRE00013179 | No. of Pages: 141 | Category: Technology, Media and Telecommunications | Status: Published
Increasing adoption of eLearning across institutions is the key factor driving the growth of the academic software market. In eLearning, by reading or watching content, it is changing the way education is delivered. Several eLearning courses such as animation, podcasts, and videos create a multi-modal and realistic learning environment. ELearning, educational content opens up several immersive learning opportunities for learners through computers, laptops, tablets, or smartphones. Instead of being in a passive environment, students can choose what they need to learn easily and quickly. These benefits are increasing the demand for academic software across the world.
The COVID-19 pandemic has severely affected the education sector worldwide. This has also promoted the adoption of online education system across all major economies across the world; thereby, influencing the adoption of software for various applications, such as delivering lectures, manage students, and other operational activities from remote locations. Thus, the rising adoption of technologically advanced solutions across the sector is expected to positively impact the growth of the academic software market during the pandemic.
Based on deployment, the academic software market is segmented into cloud and on-premise. In 2019, the cloud segment accounted for a higher share in the market. In recent years, the technology industry has steadily seen a major increase in adoption of cloud-based computing. This is due to the fact that cloud-based computing simplifies the time of implementation and reduces deployment costs substantially. This advantage has attracted a large number of end users; thus, the majority of academic software market players deliver cloud-based products in conjunction with the growing demand for cloud-based software. In addition, the internet infrastructure in developed countries has evolved and is flourishing in many developing countries, enabling end users to access the cloud based solutions in both developed and developing countries
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Artificial intelligence (AI) is a technology that gives computers the ability, in the same way as humans, to communicate with people, understand events, and learn and react to events. Over the years, artificial intelligence not only had huge applications across industries—such as security and surveillance and information technology—but it had also experienced a rise in adoption of the technologies in the education sector. AI is being adopted across schools, colleges, and universities for automating repetitive tasks, such as grading, financial analysis, and admission processes. For example, AI can be calibrated to learn and model teacher actions while grading, through advanced computer programs—such as Automated Grading—for automatic grade assignment in the future. Over time, the program would learn the academic skills of multiple students and, based on their performances, prepare customized training plans.
Based on deployment type, the global academic software market is segmented into cloud and on-premise. The cloud-based academic software is witnessing high demand compared to on-premises academic software. The cloud segment generates the majority of the demand since it is comparatively less expensive due to strong network infrastructure in developed countries. In addition, the cloud-based academic software vendors are highly focused on developing a high-level security patch in order to eliminate the risk of cyberattacks. This factor is also creating significant demand from the end users, thereby driving the academic software market.
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Based on application, the academic software market is segmented into colleges and universities, educational services, and others. Increasing adoption of modern solutions across educational institutions and universities to offer both online and offline courses to students coupled with the initiative to make advanced solutions available to all staff and students is influencing the adoption of academic software. This is fuelling the growth of the market over the years.
|Market Size Value in||US$ 797.59 Million in 2021|
|Market Size Value by||US$ 2,007.08 Million by 2027|
|Growth rate||CAGR of 16.2% from 2021-2027|
|No. of Pages||141|
|No. of Tables||56|
|No. of Charts & Figures||69|
|Historical data available||Yes|
|Segments covered||Deployment and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Players operating in the Academic software market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the academic software market. A few developments by key players of the academic software market are:
In December 2020, Alma student information system platform introduced grade point averages (GPA) feature which is been added to the grade book tool. The standards-based grading (SBG) is rooted in aligning student feedback and progress measurement against the particular skills being taught and assessed, rather than using a single score to cover multiple topics or standards.
In July 2020, ConexED had updated its iOS App 2.2.3 for a more user-friendly experience. This app enables students, staff, and faculty to join virtual meetings and video conferences on their mobile devices.
The List of Companies - Academic Software Market