North America Academic Software Market Growth Drivers and Forecast by 2027

The academic software market in North America is expected to grow from US$ 270.63 million in 2019 to US$ 809.26 million by 2027; it is estimated to grow at a CAGR of 15.2% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Growing acceptance of E-Learning across academic institutions is driving the North America academic software market in a positive way. In e-learning, learners simply immerse themselves in information, changing the way education is delivered. Many e-learning courses also include animation, podcasts, and videos that create a learning environment that is multimodal and realistic. With e-learning, educational content is delivered to learners through computers, laptops, tablets, or smartphones. This not only saves time but also opens up several immersive learning doors. Instead of being in a passive experience, learners can choose what they need to learn quickly and easily. By interacting directly with on-screen material, they also learn by practically implementing the same, in addition, decision-making scenarios in e-learning often allow learners to make their own decisions about what they would learn next. Rise in adoption of e-learning methodologies among colleges and universities are creating the need for other academic software, thereby contributing to the growth of the market. For instance, increase in adoption of e-learning has created demand for solutions, such as learning management software (LMS) and student information systems (SIS). The integration of LMS across the learning portals enables content management and sharing the same among staffs and students, student progress tracking, student feedback and grading tools, and assessment creation and management. Rise in demand for supporting solutions for offering an efficient e-learning experience to staff and students is fuelling the growth of the North America academic software market.

North America is adversely affected by the COVID-19 outbreak. Owing to the favorable government policies to boost innovation and reinforce infrastructure capabilities, North America have the highest acceptance and development rate of emerging technologies. Any hindrance on industries is therefore projected to hamper the region's economic development. Currently, due to the COVID-19 outbreak, the US is the worst-affected country in the region, thus affecting the sudden stands still across all the industries present in the region. It is becoming apparent with the pandemic spreading across the US that a few can escape its scope, presenting significant challenges to all industries. The education sector is positively affected by the outbreak as all schools, colleges, and universities are temporarily closed to control the spread of the virus. Eventually, with the high support from the government, the students in North America are shifting to online studies from offline learning methods. For instance, according to data published by the United States Department of Education, 2,500 colleges are presently offering online courses across the States. Additionally, several top universities have committed to decade-long, multi-million dollar contracts and joint ventures in central, vital academic areas with educational online program managers (OPMs). These collaborations, if properly designed, will allow universities to leap forward. Thus, the rising shift of the education sector to online mediums owing to the pandemic is expected to drive the growth of the North America academic software market during the forecast period.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America academic software market. The North America academic software market is expected to grow at a good CAGR during the forecast period.

North America Academic Software Market Segmentation

North America Academic Software Market – By Deployment

• Cloud
• On-Premise

North America Academic Software Market – By Application

• Colleges and Universities
• Educational Services
• Others  

North America Academic Software Market, by Country

• US
• Canada
• Mexico

North America Academic Software Market - Companies Mentioned

 

• Alma
• Software Advice, Inc.
• ConexED
• Envisio
• PowerVista Software, Inc.
• Qualtrics
• Tophatmonocle Corp.
• TrueDialog
• WizeHive

North America Academic Software Report Scope