Introduction
The education space is going through a transformation, especially the way in which knowledge is being distributed. The change in knowledge distribution range from augmented learning to online universities. The current trends in the education sector suggest that in future there will be more emphasis on curriculum flexibility, the location of transferring knowledge and the pace of learning. The sector will witness increase deployment of digitization and more focus will be given to sustainability. The methods in which education is offered is changing quickly to meet the demands of today’s technically savvy world. Digital transformation is a key to tackle these challenges.
Trends and Developments
For most of the educational institutions, video conferencing is the key enabler for the distance learning courses. In addition, these distance learning courses are witnessing heavy traction from both developed and developing countries. Increasing usage of video conferencing is expected to boost the market for virtual reality in the education sector. In the education sector, IndustryARC research focuses on the impact of video conferencing and identify the benefits and analyses the key challenges and drivers and its impact on the education sector.
In 2018, Apple surpassed the trillion dollar valuation mark, soon Google, Amazon, Microsoft among others are expected to cross that mark. Realization of the benchmark will indicate a new type of influence and corporate power. This will also usher in growing scrutiny from consumers, regulators, and competitors. The new trillion dollar club is expected to introduce interesting developments i.e. a shift from platform only model to partnership and acquisition with the asset providers. This move will help the technology companies to develop a notable platform by partnering with schools and colleges.
The education industry in the Asia Pacific is expected to increase by a CAGR of 7% from 2019 to 2030, this will further help to generate the largest revenue across the globe. The frontrunners are expected to be India and China because of the number of educational institutions and the largest population of young and senior people. Different companies and universities are trying to take advantage of this situation by partnering with the local institutions and offering a unique curriculum with the travel option.
Market Research Study
The study report will be analyzing the global education market from the perspectives of entrepreneurs and investors. The market report on the education sector will provide technology vendors with an insight into the growth opportunities. The overall research objective is to measure the current use and help to take the futuristic decision towards usage of information technology in education. Education technology has the capability to disrupt traditional service providers, and other IT vendors with applicable tools which will further help to seize the opportunities before more nimble start-ups can lock them down. Education now represents a huge under-addressed market with significant new revenue streams available.
The research study will address the important aspects such as innovation and research in universities, quality of education system, regulatory reforms, governance, and employability. It will also discuss government support across the world to track the opportunities and developments. The study will also identify the opportunities and issues related to skill developments, online learning, vocational education, and open education resources. IndustryARC is constantly tracking the education sector to gain an in-depth perspective on growth and challenges.
The research study will help to evaluate the factors that drive investments in the education sector and technologies impacting the education sector. The research study will also assess the current and future applications of technologies, gauge the trends and appraise available budgets. The research study will help to understand the challenges education sector face today and will help to identify ways to address these challenges. The study will also monitor the status of digital transformation including newer solutions such as Artificial Intelligence, Augmented, and Virtual reality, and others.
Our Estimation Method:
For logical estimation and forecasting, IndustryARC conducts a series of interviews with educators and solution providers in North America, South America, Europe, Asia- Pacific, Middle East, and Africa. The primary and secondary sources include school teachers, administrators, principals, higher education faculty, and head of departments, deans, and technology development companies and their Chief Executive Officers, Chief Technology Officer, Chief investment officers, and others to understand the impact of digital learning services. The discussion with the technology developer and adopter covers certain topics such as an experience of educators adopting digital services in the classroom, challenges faced in the development of the technology and implementation of digital learning services, the view on some of the barriers restraining the mass adoption of technologies and others. This methodology helps us to assess the current market and provide an accurate view of the future.
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