Academic Software Market: Scope growth potential size latest technology and opportunity share analysis landscape | Global Players – Edvance360, Envisio, Ex Libris Ltd, FULL FABRIC, Hyland Software

AMIThe reports on the Academic Software Market provide readers with a better understanding of the market and competitive landscape to support better decision-making.

Global academic software market was valued at US$ 805.00 million in 2020 and is expected to reach US$ 2,382.60 million by 2030, growing at an estimated CAGR of 12.90% over the forecast period. At present, the market is sharping its presence and some of the key players in the study are Award Force, Blackboard Inc., CAMPUS CAFÉ SOFTWARE, ConexED (Campus Calibrate), D2L Corporation, Edvance360, Envisio, Ex Libris Ltd, FULL FABRIC, Hyland Software, Inc., Instructure,Inc, Poll Everywhere, Populi, Power Vista Software, Inc., Qualtrics, Survey Monkey Apply, Thinkific, Tophatmonocle Corp., TrueDialog, Wizehive amongst others. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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Being a proficient and comprehensive, this Academic Software market report puts a light on primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. This market research report contains thorough analysis of the market structure along with forecast of the various segments and sub-segments of the market. A numerous markets, marketing strategies, trends, future products and rising opportunities are taken into consideration while studying market and preparing this report. The chief areas covered in the Academic Software report include market definition, market segmentation, competitive analysis and research methodology.

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Industry Trends

The advancements in technology have led the education sector to adopt new modes of teaching such as animated teaching, online teaching and digital assignments. Such a factor is expected to assist the overall Academic Software Market over the forecast period.

Beginning from the idea that modern schools are those that keep pace with technological change for the sake of effective learning and use that information in the teaching cycle, as well as those that constantly develop curricula through new technologies, it is likely that new education innovations will become an integral part of them. Computers and technology are very powerful and effective instruments for learning and, by using them, students learn how to keep pace with technological developments to improve their practical skills across their lives. Modern education innovations are powerful tools that allow students to learn by using various digital and interactive learning methods, to establish their learning styles, and to use different means of learning, which is an excellent foundation for the individualization phase. The use of modern technologies in the cycle of enriching learning opportunities is of immense importance when it comes to keeping up with developments in the field of education.

The Internet of Things (IoT), as in many other fields, has been a boost for the schooling sector. From so-called “flipped classrooms” and online courses through digital mobile technology and more effective teaching methods, IoT-enabled networking tends to substitute pencils, paper and chalkboards, as educational solutions and learning opportunities grow. College students want a highly personalized, immersive learning experience with expanded interactive learning opportunities and more versatility in classroom styles. The implementation of IoT in classrooms ease the process of teaching and improves the overall learning environment.

IoT in classrooms ensures a better-connected, more integrated future in schooling. IoT devices give students better access to everything from learning materials to channels of communication and give teachers the ability to measure the success of student learning on real-time basis. Smart features such as biometric identification, business intelligence tools, mobile apps, bus tracking and auto-triggered notifications ensure better outcomes and transparency between schools & parents.

To attract additional students to fulfil their educational needs, universities and colleges must strive to use technologies more efficiently so that they can deliver more immersive learning environments with less technical difficulties. Schools that embed such technological changes provide students with highly personalized learning experience. The aforementioned software can streamline and automate the schools’ day-to-day operation and activities. This simplifies the work of admins, teachers, staffs and students. It helps in simplifying tasks and taking care of operations such as SIS, dormitory, digital diary, payroll & finance, library, alumni and smart ID card & GPS tracker amongst others.

Artificial intelligence (AI) is being experienced in schooling, and traditional methods are radically changing. Due to the many uses of AI for schooling, the academic world is becoming more accessible and customized. As educational materials are available to everyone through smart devices and computers, this has changed the way people learn. Now, students need not take physical courses to learn as long as they have computers and internet access. AI also allows for the outsourcing of administrative tasks, enabling schools to reduce the time needed to complete cumbersome tasks so that educators can spend more time with students. AI will be able to automate the exploration of administrative tasks for teachers and academic institutions. Educators spend a lot of time marking tests, reviewing assignments, and offering meaningful feedback to their pupils. Nevertheless, technologies can be used to simplify grading processes when several assessments are involved. It ensures the teachers would have more contact with their students than spending a lot of hours assessing them.

However, software needs to be chosen properly in order to ensure that the knowledge imparted to the children is enough and also helps in nurturing their future. Also, there exists a major concern regarding privacy of sensitive information. Like supermarkets, where information typically includes credit card numbers and other consumer figures, colleges often have confidential research data in their activities. Universities need to take constructive measures to prevent attacks by threat detection tools and other technology upgrades. In addition to the information stored on university servers, attackers can also take advantage of the more extensive network of the system to break into other networks through phishing emails or spam. A database consisting email addresses of faculty and staff at a university will become a valuable resource for phishing programs, trying to gather sensitive information through sending fake emails to consumers. Such a factor is expected to critically impact the overall Academic Software Market growth.

Rising number of digital education tools is expected to propel the Academic Software Market. For instance, Edmodo is an educational tool that connects teachers and students and is assimilated into a social network. Teachers can create online collaborative groups, provide educational materials, communicate with parents and measure student performance amongst others. At present, the tool is used by 34 million users that provides personalized and aligned learning process opportunities to students.

Market Segmentation:

Academic Software Market: By Offerings

  • Solutions
      • Cloud-Based
      • On-Premise
  • Services

Academic Software Market: By Applications

  • Library Management
  • Submission and Evaluation Management
  • Learning Management
  • Alumni Management
  • Student Management
  • Others

Academic Software Market: By End User

  • K-12
  • Higher Education
  • Corporate Learning
      • Retail
      • Technology/Hi-Tech
      • Government
      • Hospitality
      • Healthcare
      • Banking, Financial Services and Insurance
      • Others

Academic Software Market: By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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