Learning Analytics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

The learning analytics market is expected to witness a growth at a CAGR of 20.9% over the forecast period (2021-2026). Learning analytics (LA) market is rapidly growing in educational institutions worldwide, especially for higher educations and MOOCs providers, driven primarily by the need to improve the student success rate, course material efficiency, retention, and the learning experience. Learning analytics follows the digital footprints of learners, transforming the way they look at learning processes, and enabling data-driven decisions to maximize student success. It has continued to evolve as technology remains one of the main drivers of educational change.

– The learner and the faculty can use learning analytics for a specific purpose, such as identifying success and failure patterns and course progress, which can assist in developing a creative curriculum and, thus, assist the institutions and course providers in improving student retention. For instance, the learning analytics stakeholders comprise software providers, platform providers, institutions, faculty, students, and the government.
– Learning analytics demand has increased due to the vast data set of varied information (big data). The growing data needs to be clustered (for similar traits) to offer a real-time insight for a decision support system based on data using mathematics, statistics, predictive modeling, and other streams.
– An increase in the massive open online courses (MOOC) content and a large number of higher education institutions making their courses available through the internet to a global student base has acted as a catalyst for the learning analytics adoption. It helps them get eased yet detailed information about an individual’s progress in a course and supports faculty to change, improve, or present the course’s concepts and contents better.
– Learning analytics is a part of the umbrella system. Learning management systems (LMS) help in offered course analysis, student retention, modeling the patterns of success and failures, and improving the learner’s efficiency. It does so without adding to the cost, as learning analytics uses the existing resources for generating data used for various analytical approaches. This has augmented the demand for learning analytics. It serves as the base and platform for the next level of analytics implementation, generally termed as academic analytics.
– Moreover, the COVID-19 crisis has resulted in schools being shut all across the world. Globally, over 1.2 billion children are out of the classroom. As a result, education has changed dramatically, with the notable rise of e-learning, whereby teaching is undertaken remotely and on digital platforms.

Key Market Trends

Increasing Learning & Development Budget towards Online Learning is Fueling the Market Growth

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– In recent years, MOOC has gained traction among employees, especially in the IT sector. At its core, MOOC was always meant to be a flexible learning platform. With employees engaged in multiple tasks throughout the day, formalized training often becomes a challenge. MOOCs allow employees to brush up on existing skills and familiarize themselves with new ideas at a time of convenience.
– Thereby, 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 the 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.

North America is Expected to Witness Significant Market Growth

– North America is expected to dominate the market in the coming years. The US government has played a major role in the acceptance of eLearning products. According to the latest data, the US government has spent more than USD 2.59 billion on self-paced e-learning products for its staff and administrators.
– Further, 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.
– According to the EDUCAUSE IT workforce report 2019, “Business Analyst” has been one of the most commonly added new positions to 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.

Competitive Landscape

The learning analytics market is highly fragmented due to the presence of many small and medium-sized companies competing with each other and large enterprises. Some key players in the market include Domoscio, Blackboard Inc. Unicon Inc and D2L Corporation, among others. The vendors in the market are focusing on strategic growth by expanding their reach and are working closely with diverse customer groups, including educational institutions and corporate customers, to help enhance product portfolio by invest in the internal development of new services, products, software, and systems.

– November 2019: Domoscio announced the release of a major update ( version 3 ) of its platform. The new platform features enhanced user experience, gamification, new functionalities, reporting, and re-branded products. The features include Data for learning and development, lock reinforcement over skills in the longer term, and individualization of learning hubs. The company encourages the adoption of its solutions to help counter the challenges concerning automation and individualization by providing access to analytics based on the user’s roles.
– October 2019: Blackboard Inc.announced the expansion of its Latin America presence with the official opening of its new Latin America headquarters in Bogotá, Colombia. Blackboard aims to support anticipated future growth while bolstering its ability to serve a rapidly growing regional client roster better. In January 2020, the company announced the opening of its new global headquarters in Reston, Virginia.

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