Global Educational Market Outlook Report : Ken Research

Overview: Recent Education Market Research Reports estimate that the global educational market will be one of the fastest growing markets owing to increased penetration of internet and growing device based accessibility to educational material. As per recent research conducted for the white house report, the education market for the United States alone is estimated to be worth around USD 1.3 Trillion as of late 2016 with a majority of the expenses being made towards the K-12 sector with roughly USD 670 Billion and the Higher education sector taking the second largest expense level of approximately USD 475 Billion. There are about 100,000 public schools, 30,000 private schools, and roughly 4,000 charter or other schools in the K-12 space in the U.S. Education is one of the most significant expenditures to the Government in the U.S and is of high importance, contributing about 9% to the GDP in 2017, it is the second biggest individual market in the U.S, right behind healthcare. Although the market size is large, U.S is one component of the total global educational market which has grown from its value of USD 2.5 Trillion in 2005 to over USD 4.4 Trillion as of 2017. The market is expected to experience high growth rates for the upcoming years as well with a major investment made into EdTech (Educational Technology).

E Learning: The global market for online education has an approximate size of USD 160 Billion as of 2017 and is expected to grow at a rate of 29% for the period 2017-2023. There is massive growth in the Education Technology sector caused by increasing availability of online platforms, higher rates of adoption of technology and growing student based customization offering convenient and effective education to students. The Industry for online education is increasing rapidly with investment into Educational Technology growing year on year. The investment into educational technology is growing with an investment of USD 8.1 Billion in the United States alone for the year 2017. There has been growing investment in China as well with 2017 investments in Educational technology toppling USD 1.2 Billion.  Research estimates the Educational Technology Device market to be worth about USD 18 Billion with the total market to be worth USD 275 Billion by the year 2020. By 2025, the global market for E learning is expected to be worth USD 325 Billion with a medium to high growth across different segments. By component, the hardware market is expected to grow with a 27% CAGR. By product type, the content market is expected to grow at 28% CAGR from 2017 to 2023. By application, the market for higher education is expected to grow with a CAGR of 26.71%. Geographically North America dominates the market in terms of value and size followed by Europe although the Asia Pacific is expected to be the fastest growing market.

Trends:   The most significant change that is expected to occur is the shift of the classroom form physical to online. There are a majority of online based correspondence and distance courses that exist in a large number of universities today and the number is expected to grow with an increase in courses and better quality material over the upcoming years.  There is also an expectation of integrating artificial intelligence and machine learning into the Educational Technology platforms which would provide students with greater customizability and personalization on their courses for better and more effective learning. The rapid growth of platforms is bringing about the Software as a Service (SaaS) model integration into education. Although the largest customer base is in the K-12 Sector, higher education is expected to be the major contributor in terms of customer value and for revenue to the market. There is also an expected increase in the innovations being used for educational purposes with the entry of game changing technology like Artificial intelligence and virtual reality into the learning environment for students and skilled professionals. The final major trend that is expected to boost the growth of the education market is the entry into the sub sector of adult education which is forecasted to be the biggest in terms of opportunity owing to a complete lack of competition in the sector.  These developments are expected to boost education into one of the most critical sectors of economic development globally

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Global Educational Apps Market Research Report : Ken Research

Introduction: The global educational applications market is one of the fastest growing markets in the sector of technology as well as that of education. The technology improvements over recent years leading to increased computational power and higher graphics capability have led to interactive and game changing solutions for learning and education which were not viable before. The integration of technology into everyday lives is increasing rapidly with more devices offering increased application . The massive growth of the market is being driven primarily through the major adoption of mobile devices and the widespread connectivity of the internet. The increasing internet accessibility provided by growing internet connectivity in rural and developing regions has grown the level of access that consumers have towards educational material. The growing adoption of using smart devices has led to a rapid growth in the demand for applications in all categories, the level of uneducated population being higher in rural areas, there is major demand for educational platforms which provide content ranging from school based material to that of higher education and even professional technical courses. This has caused the primary boost for the educational applications market

Market Scenario: The global market for educational applications is expected to have a major growth in the upcoming years with the market forecasted to grow at a CAGR of 27% for the period between 2017-2022 with the American market forecasted to grow at a slightly higher rate of 28.5% for the same period. The increasing  interest in game based learning has led to the edu-gaming category being the biggest contributor by category in the educational application market with educational applications being worth approximately USD 3.2 Billion in 2017 and forecasted to more than double to USD 8.1 Billion by the year 2022. This is expected to boost the market for educational applications significantly forecasting a total market size of over USD 20 Billion based on Education Industry Analysis  . The key emerging market is expected to be the Asia Pacific region with highest demand forecasted from China and India with the Indian e Learning market alone forecasted to be worth USD 2 Billion. The market growth by content is primarily expected to be driven by the demand for higher educational courses ranging from high school to college based courses which would involve a major amount of thinking, preoperational work and problem solving but would provide students with technical expertise which is expected to increase the probability of employment prospects for developing regions as well. This has led to a larger market value for higher learning courses even though primary learning is expected to have the largest user base for educational apps

Opportunity:  The major opportunity in the educational application sector is the chance for increased technological advancement leading to more sophisticated educational platforms which can replace conventional schooling. Current emphasis has been made on customized learning which is expected to generate personalized curriculum and topics for students based on their level of interest for topics and the extent of their learning. Implementation of artificial intelligence combined with machine learning is expected to bring about a revolutionary change in education allowing students real time evaluation of their learning experience and their capabilities, Secondarily the implementation of Augmented and Virtual reality is expected to redefine the experience of learning for students and to improve the experience even for professional training allowing individuals to experience components of their job first hand in a simulated environment. These factors for technological integration present a major opportunity for technology that can be integrated into education and for companies looking to education based analytics which would be able to generate custom solutions for learning. Currently the market is filled with a variety of applications providing content for learning subjects in primary education upto highly technical subjects with apps like Edmodo, Khan academy, Udemy and more offering learning and some offering a certification of the students ability post completion of the online course,there is still opportunity for companies that can either customize the learning methodology, improve the experience or offer specialized education leading to the global educational apps market being a high potential technology market

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India Education Sector: Computer the Classrooms of Future India: Ken Research

Introduction: Recent market research done into the Indian Education sector has revealed that the Indian Online Learning market comprising of web based platforms, online applications and blended learning programs would be a market worth USD 2 billion. The customer base in online learning is expected to grow six fold from the current 1.6 million users to around 9.6 million by the year 2021. The increasing penetration of technology into the education market is creating a paradigm shift in the market for education in India.

Market Timeline: In 2015, the government of India launched a program to deliver free learning through online platforms; the SWAYAM initiative has been a government program to launch an online portal available to anyone wishing to learn in India with a capacity to host 2,000 courses with over 80,000 hours of video course material. The program was geared towards accessibility of quality education to rural areas aimed at connecting to 250,000 villages in India providing the population with course material from class 9 ranging to post graduate courses.  The increasing addition of participants from tier 2 and tier 3 cities like Patna and Guwahati have been noted to be the primary driver behind the growth of the market. As of July 2017, it was confirmed that the internet user base in India had reached 500 million. Educational content has been one of the most active parts of the internet with Educational related searches on Google tripling and Educational video demand doubling over the last year. Around 45% of the searches and queries are coming from beyond the top 6 metros in India. While a large number of searches and queries have resulted from schooling due to primary education still having the largest customer base of around 260 million users, the segment is poised to reach 773 million by the year 2021. The reskilling and certification segment was the most important with a value of USD 93 million expected to grow to USD 453 million by the year 2021. Competitive exams and other test preparation which is a small segment as of today is likely to grow at a CAGR of 64% to become a $515 million category in 2021. Even major corporate are taking initiatives towards reskilling with leading Indian conglomerate Mahindra and Mahindra entering into a partnership with Indian American educational tech platform edX to retrain 117,000 of its employees in various business tasks and skills . The learning platform edX alone has seen tremendous growth in the last 5-7 base owing to the addition of 1.5 million Indian customers alone which makes roughly 11% of the platforms total customer base. This shows the difference accessibility plays and even the government follows through on the trend. With access to education being the major inhibitor roughly 25% of students in India pursue higher education which is quite low compared to 70% in the US. The growing need for accessible education has been addressed in Formal education as well with the Indian government announcing in January that they will allow 15% of all Indian universities to offer online degrees for students and executives. Universities accredited by the National Assessment and Accreditation Council (NAAC) and rated A+ will be allowed to offer such courses. Others that want to offer such courses will be allowed a window of two years to achieve the A+ level in NAAC accreditation. This will not be limited to specific courses or degrees but will span a wide range of sectors and industries allowing for greater variety in the options students are allowed to remotely learn.

The emerging subjects: With Information Technology services becoming the biggest export and growing to become one of the central pillars of the Indian economy , a large number of companies and courses have opened up opportunities for entry into the IT industry within India and abroad by online learning platforms and services equipped to train students and professionals in the disciplines of Data Science, Advanced Data Analytics, Advanced Programming and in Artificial Intelligence and Machine Learning. The most promising of these opportunities being the launch of Google learning in March 2018 allowing users to enter the discipline of AI. The platform offers core AI concepts and opportunities for solving real world machine learning problems. The emergence of the online learning platform has had a major impact on the growth of online educational service firms like edX, GC Solutions, Signy, Learnnovators and more. The opportunity for greater integration and personalization of courses using AI and Machine Learning can revolutionize learning in the Indian Society

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Technology to Enhance the Global Education System -Ken Research

According to the education market research report, people aware about increase in skill mismatches, therefore, corporate and individual learners are increasing their investments in technical and vocational education. The education sector is based on long-lived traditions and follows a strict code of rules. Primary education and secondary education institutions are publicly-funded. If we talk about European countries, students in the UK until the age of sixteen years are entitled to a free place at a state school compared to the private education sector which is expensive. There are four main types of state schools in the UK such as the community school, foundation school, trust school and voluntary-aided schools. Community school is run by the local authority and is linked with the local community which also offer childcare and adult learning classes. Foundation schools are self-run school that employs the staff and has its own admissions criteria. Trust school is another type of foundation school which forms a charitable trust with an outside partner. Voluntary-aided schools are religious schools run by the local authority.

Secondary-school education starts at the age of 11 to 14 and are educated on various subjects such as English, Maths, Science, Design and Technology, Information and Communication Technology (ICT), History, Geography, Modern Foreign Languages, Art and Design, Music, Citizenship, Physical Education, Careers education and guidance, Sex and Relationship Education and Religious education. After graduating from the secondary school, students may choose to either leave school or continue with their education. They may continue at vocational or technical colleges, or pursue higher education in various universities.

The market for technical and vocational education has witnessed a steady growth over the recent years. People are interested in technical and vocational courses, thereby; institutions are employing more workforce in this sector. The increase in digitization in technical and vocational education with advanced technology, many of the trainers are improving the delivery of vocational and technical education through online and offline platforms. Classroom-based training is still the dominant method of teaching in UK rather than online training. PCs, tablets and smartphones are used to improve distance learning programs. The increase in technology in technical and vocational training has motivated the large chunk of the population to use educational software solutions, virtual learning platforms, simulations, and interactive multimedia content in the education market.

According to “Education Business Review”, education market is constantly growing due to the increase in public and private institutions, ministries of education, government agencies, and educational and testing companies. There is a stiff competition between public and private educational institutes with an intention to draw faculty, students, research funds, and business partners for association. Increased in internet penetration, internet connectivity, privacy of cloud based resources, replacement of device based computing, personalization of technology, introduction of mutual and online learning are the key factors driving the education market in the country. Agreements, partnership, new technological developments and ease of deployment are the major opportunities for education market. Thus, the increasing competition is mounting high pressure on already established universities’ business models.

Software solutions provided in the education market are segmented into campus technology, data security and compliance, student and curriculum, performance management, content and collaboration and other solutions. Various hardware devices that are technological advanced in education market are tablets, PCs, projectors, interactive white boards, and printers which play an important role in enabling educators and student to capture leading opportunities. The other services offered in an education market are consulting, advisory, implementation, training and other support services. Education market is segmented into private colleges, community colleges and state universities.

Education industry has doubled over the recent years due to huge support for research functions in higher education institutions. Primary, secondary, and higher education institutions are getting public support that helps to manage with possible fluctuations in revenue caused by Brexit. Increase in the higher education cost, decreased government funding and difficulty in adopting server based computing may pose major challenges in the  education market over the next few years.

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