The Global Adaptive Learning Market is estimated to grow at a CAGR of 21.8% during the forecast period 2021-2027. As per the detailed market study, the global adaptive learning industry is estimated to reach US$ 4,252.54 Million by the end of the year 2027.
The online education industry is transforming rapidly, supported by the increasing adoption of digital learning platforms. Major educational institutes and organizations are widely concentrated on the amplification of the e-education components by adopting effective adaptive learning solutions. The rising trend of online education is due to continuous improvements in the network infrastructure and the increasing adoption of the Learning Management System (LMS). Also, Massive Open Online Courses (MOOCs) are gaining huge popularity among learners around the world.
The global adaptive learning market is driven by various growth factors such as increasing demand for e-learning solutions, rising government initiatives to boost adaptive learning solutions, and increasing demand for personalized learning. However, low-end user engagement and motivation to adopt adaptive learning solutions act as restraining factors for market growth. On the contrary side, the increasing demand for gamification in adaptive learning and increasing use of cloud computing among educational institutes and organizations are some lucrative opportunities for the market players operating in the global marketplace for the future period.
Education institutes and organizations are rapidly moving towards cloud-based services to save an intensive IT infrastructure cost and boost the efficiency of operations. Major higher education institutions reported that their spending on cloud computing is witnessing growth and is anticipated that there will be around 60% of cloud-based higher education applications by 2021. In a survey conducted by MediTalk, amongst 300 education, local, state, and federal cloud adopters, 60% of higher education institutes are focusing to integrate cloud computing in their IT strategies. Colleges and Universities majorly choose a consumption-based pricing model of the cloud, which can be adjusted as per the demand. The future holds a bright pathway for cloud computing. As per the reports from technocrats, cloud computing will replace traditional data centers in the forthcoming years. Cloud computing is handled ~88% of the total data center traffic in the year 2016 which is anticipated to reach 95% by the end of the year 2021.
Software-as-a-Service (SaaS) is a type of delivery model of cloud computing. In the education sector, SaaS applications include hosting various management systems for educational institutes, corporate offices and managing other activities. Cloud-based storage has minimized the requirement of physical storage; and universities and colleges have been able to expand their geographical presence, thus allowing students and learners to access the classroom training remotely.
Thus, the adoption of a SaaS-based model helps in providing real-time insights for the growth of the students. Additionally, many adaptive learning products are available with educational institutions that can save a huge amount by using the SaaS platform, as the cloud-based platform does not require purchasing and licensing of applications and software. The SaaS model of cloud computing enables universities and educational institutes to use software and application via a cloud platform. This model is majorly available in the market as subscription-based solutions to ease e-learning inflexible and scale manner.
Cloud technology has added value to many sectors and using SaaS in the education sector is highly beneficial in the case of e-learning or online education and e-delivery of study material to students. SaaS is majorly used in cloud computing services in education to manage a range of technology, educational and administrative systems. As per the survey conducted by Hitachi Data Systems that includes respondents from colleges and universities, stated the usage of SaaS is increasing in the form of various applications such as customer relations management, human resource management, video management, and others.
Segmentation Overview of the Global Adaptive Learning Market
The global adaptive learning market is categorized on the basis of various market segments that include component, application, deployment, and end-user. These major market segments are further categorized into various sub-segments to study the market in detail.
The Component Segment of the Global Adaptive Learning Market is Sub-Segmented into:
The Application Segment of the Global Adaptive Learning Market is Sub-Segmented into:
- EdTech Companies
- Educational Institutes
The Deployment Segment of the Global Adaptive Learning Market is Sub-Segmented into:
The End User Segment of the Global Adaptive Learning Market is Sub-Segmented into:
- Higher Education
- Large Enterprise
Geographical Overview of the Global Adaptive Learning Market
The North America adaptive learning market is expected to hold the highest market share. The regional market dominance is attributed to the easy and high adoption of adaptive learning solutions across the major verticals in the region. The companies involved in the adaptive learning market play a key role in technological development and involvement in corporate training majorly contributes to the regional market growth over the future period.
The Asia-Pacific adaptive learning market is analysed to grow at the highest growth rate during the forecast period with a major contribution from China, Japan, Singapore, Australia, and India. The high growth of the regional market is attributed to the high adoption of new technologies for the education industry.
Adaptive Learning Software Market – What competitors are doing?
- In February 2019, McGraw-Hill launched SmartBook® 2.0 as an addition to its McGraw-Hill Connect® learning platform. The product supports the algorithms that are built based upon advanced learning science principles to adapt to individual learner’s requirements and resolve knowledge gaps and increase learning efficiency by moving knowledge into long-term memory in a rapid manner.
- In June 2018, Realizeit unveiled version 3.3 of its personalized learning and analytics platform, boasting new tools for creating and managing digital learning experiences.
Key Players Insights of the Global Adaptive Learning Market
Houghton Mifflin Harcourt (US), K12 (US), Realizeit (US), Cerego (US), Imagine Learning (US), Follett (US), Knowre (US), Fulcrum Labs (US), Mathspace (Australia), Impelsys (US), DreamBox (US), VitalSource (US), CogBooks (UK), ScootPad (US), Area9 Lyceum (US), Istation (US), Wiley (US), Curriculum Associates (UK), Pearson (UK) and McGraw-Hill (US) are some major players included in the research study of the global adaptive learning market.