According to our latest market study on "Lecture Capture System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component and End User," the market is expected to grow from US$ 7,135.18 million in 2022 to US$ 36,862.47 million by 2028; it is expected to grow at a CAGR of 31.5% from 2022 to 2028.
A lecture capture system enables the user to record video presentations, manage video files, and stream video content to any device. According to Industry Experts, the online learning method has been steadily increasing for the past few years, and approximately 50% of all classes were delivered online in 2020. A lecture capture system comprises a video source, audio source, video encoder, video content management system, and learning management system. Instructors prefer to share and deliver effective lectures and learning materials through videos. The lecture is delivered using engaging images, graphs, charts, and photos that guide students to understand concepts easily. Such factors are anticipated to propel the growth of the lecture capture system market in the coming years.
The lecture capture system provides various advantages such as audio and video recording of lectures that enable students to access course materials outside the classroom. Growing trends of a flipped classroom enable students studying at home to attend classes with prepared questions and discussion topics. Saved and archived lectures help the students refer to the shared materials through a lecture capture system. Furthermore, there is a growing adoption of online lecture capture systems to accommodate students with disabilities and provide captions and audio lectures for those with hearing and visual impairments. Such benefits are significantly driving the global lecture capture system market. Increased collaborations among the academic technology teams, faculty, and staff led to an enhanced focus on the development of a highly efficient lecture capture system that automatically recognizes cameras and microphones and remembers professors' recording settings to simplify setup. Such factors are anticipated to boost the growth of the global lecture capture system market in the coming years.
In Asia Pacific, the COVID-19 crisis has drastically affected India and China as the lockdown slowed down activities across these countries. Before the onset of the COVID-19 outbreak, the demand for lecture capture systems and its adoption in Asia Pacific were limited. However, the emergence of the pandemic has increased the adoption of digital technologies, which is anticipated to propel the lecture capture system market growth across the region. There is a growing demand for lecture capture technology in the developing economies of Asia Pacific to enhance and expand the region's instructional activities and learning environments. The lecture capture system and solutions will be incorporated in Asian schools and universities where many students are likely to benefit from repeated viewing of content and complex information. The trend of using video-on-demand technology has also increased across the region. The technology benefits students and learners by enabling them to closely examine the steps of a demonstrated procedure in a science experiment. In 2021, the activities of organizations started to resume; hence, companies provided lecture capture hardware and software solutions with features such as study groups for students. Increased convenience for students, remarkable flexibility with institute timetables, and increased ability to take two courses simultaneously are a few benefits of using the lecture capture system, which is expected to propel the lecture capture system market growth. Further, new features such as tagging students in an intellectual discussion and encouraging them to share their work are likely to boost the demand for lecture capture systems market in the coming years.
Key Findings of Study:
The lecture capture system market is segmented on the basis of component, end user, and geography. Based on component, the lecture capture system market is segmented into hardware, software, and services. The software segment is further bifurcated into on premise and cloud. The services segment is further bifurcated into integration & maintenance services and training services. Based on end user, the lecture capture system market is segmented into educational institutions and corporates. Based on geography, the lecture capture system market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the lecture capture system market.
The North America lecture capture system market is segmented into the US, Canada, and Mexico. Various companies offer hardware and software solutions that are broadly accepted in the education sector. The rising adoption of e-learning techniques and growing emphasis on efficient learning are boosting the demand for lecture capture systems. Further, the education sector has adopted various learning techniques such as interactive content, video-based learning, and game-based learning and strategies such as the integration of AI in e-learning platforms, etc. The unexpected surge of learners in the e-learning industry has been creating the demand for lecture capture systems for the past few years. Thus, the growing preference for online learning portals and the increasing trend for adopting advanced technologies have boosted the demand for lecture capture systems, which is expected to fuel the lecture capture system market growth over the coming years.
Moreover, the education sector gained substantial market revenue compared to other industries during the COVID-19 pandemic. Due to the nationwide lockdown across North America, various private and public educational institutions adopted e-learning and conducted online classes and exams remotely. The discontinuation of in-class sessions increased the need for online learning platforms, which boosted the demand for lecture capture systems in North America. Further, numerous companies are offering cost-effective and more efficient hardware and software solutions for content management systems, learning management systems, lecture recording systems, and AI-based advanced recording systems. For instance, in March 2022, Panopto announced the integration of Panopto with Microsoft Teams. This integration enables users to securely search, play, share, and manage their Panopto videos and meeting recordings entirely within Microsoft Teams. Thus, such advancements in lecture capture systems are creating immense opportunities for the vendors in the lecture capture system market, which is likely to fuel the lecture capture system market growth over the forecast period.
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