Global Adaptive Learning Market, By Component (Platforms, Services (Professional services (Consulting, Implementation, and Support and Maintenance), Managed services)), By Application (EdTech Companies and Educational Institutes), By Deployment (cloud, on-premises), By end-user (academic (K-12 and higher education), enterprise (SME and large enterprise)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global adaptive learning market is estimated to reach at a value of US$ 1.5 Bn by the end of 2020 and expected to reach at a value of US$ 8.0 Bn by 2028 with a significant CAGR of 22.9%
Learning can be perceived as an approach where knowledge is developed through evolution of experience. The more widely prevailing conception about learning comprises a quantitative rise in understanding and expertise or, storing or memorizing information that can be replicated; obtaining facts that can be replicated, acquiring, rendering and comprehending reality in a different manner.
The novel idea of adaptive learning claims that it is a technique of producing an exclusive learning experience for each individual on the basis of the learner’s interests, personality and performance with the purpose of achieving major objectives such as academic enhancement, learner contentment, efficient learning process and similar things.
The growing drift of customization of learning processes, methods, and related learning material according to the learner’s interests and skills in the present times as well as the increasing awareness among parents, worldwide, is acting as one of the major factors that is expected to boost the growth of the global adaptive learning market in the years to come.
In addition to that, Ed-tech businesses and companies across the world are also aiming to improve both self-paced learning experience and combined learning by presenting new educational technologies in the education industry. This comprises the initiation of e-learning software and adaptive learning solutions.
Such factors are further propelling the demand of adaptive learning solutions across the global markets, thereby the global adaptive learning market is projected to grow substantially in the forthcoming years.
Besides that, the elevated count of technology deployments in schools, adoption of strategies like content digitization, and a lack of educators and teachers is estimated to keep encouraging ed-tech businesses to develop adaptive learning software and adopt adaptive learning solutions. Owing to which, the global adaptive learning market is expected to escalate exponentially over the forecast period.
Apart from that, the rapidly increasing count of colleges and other educational institutions and introduction of new government education policies, in the present times, is also playing a positive role in accelerating the growth in the demand of adaptive learning across the world. Thus, the global adaptive learning market is projected to witness significant growth in the coming years.
MMC Study identifies some of the key participating players in the adaptive learning market globally are McGraw-Hill, Pearson, Curriculum Associates, Wiley, Istation, Area9 Lyceum, ScootPad, CogBooks, VitalSource, DreamBox, Impelsys, Mathspace, Fulcrum Labs, Knowre, Follett, Imagine Learning, Cerego, Realizeit, K12, and Houghton Mifflin Harcourt, among others.
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