The education and learning analytics market in North America is expected to grow from US$ 1,245.6 million in 2019 to US$ 5,133.3 million by 2027; it is estimated to grow at a CAGR of 19.9% from 2020 to 2027.
Increasing adoption of advanced technology among educational institutes in developing countries is bolstering the growth of the education and learning analytics market. Educational institutes are heavily investing in advanced technology to gain a competitive edge and to adopt the best possible education system. On the other hand, students are also willing to invest in order to get the best education. Both educational institutes and students have a high potential to invest in the technology-driven education system, which is having a high impact on market growth. Schools and universities are investing in technology to improve its educational operations such as financial planning, course planning, student retention, and the effective process of delivery of information to students. Increasing adoption of advanced technology solution in the educational sector is expected to drive the North America education and learning analytics market during the forecast period.
Rise in demand for online courses and professional certifications is among the other factors expected to positively influence the demand for education and learning analytics. Online learning is becoming an essential part of the educational landscape. The online program enrollments are increasingly driven by rising number of students who are looking for flexible formats for certificates, courses, and degree programs to support career placement as well as pursue advanced studies. Students who have enrolled in on-campus programs are also focusing on registering for the hybrid to fully online courses during their enrollment. Several prestigious and large institutions are shifting toward various online degree programs owing to the high-quality technical assistance in the learning experience.
Based on component, the software segment dominated the education and learning analytics market in 2019. Along with increasing digitalization, businesses of all sizes are focusing on adopting automated solutions to ease their business process. The advancements in applications of information, communication, and technology (ICT) are paving the way for effective businesses. Education and learning analytics software help improve the quality of education is increasing with the growing volume of student’s data generated from different systems, such as Virtual Learning Environment (VLE), Learning Management System (LMS), student information system, or a variety of library systems. The software segment exceeds the services segment and is expected to witness the maturation in the future due to the higher adoption of education and learning analytics software solutions, which ultimately drives the education and learning analytics market. Furthermore, while there are diverse viewpoints on the damage, which COVID-19 may cause, the fact remains that COVID-19 is spreading worldwide. New cases are rising across the world, including, the US, Canada, and Mexico. Educational institutions worldwide are responding to travel bans as well as quarantines with a move to online learning. The emergency may initiate a boom for online education.
The overall North America education and learning analytics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America education and learning analytics market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America education and learning analytics market. Major players operating in the North America education and learning analytics market include Watershed Systems, Inc.; SAS Institute Inc.; Microsoft Corporation; Ellucian Company L.P.; Blackboard Inc.; Alteryx Inc.; InetSoft Technology Corp.; and Saba Software, Inc.