U.S. Education Market Forecast to Show Spurring Growth by 2016-2024
The new report by Zion Market Research on the “U.S. Education Market — Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2026″ has a vast information about the market and its potential. The U.S. education market was valued at around USD 1,350 billion in the year 2017 and it is expected to reach approximately USD 2,040 billion by 2026. The U.S. education market is expected to exhibit a CAGR of more than 4.5% between 2018 and 2026.
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Developments in the education system of the U.S. include growing popularity of the digital textbook, advancements in the educational content, and the growing interest in the e-learning. These advancements in the education system are triggering the growth of the market in the U.S. The other factors that are positively influencing the education market in the U.S. are growing secondary enrollment rates for different courses in the country and the increasing government spending on the education system.
Our research analysts came up with the conclusion that there will be an increasing demand for the video-based educational content in the coming years. The growing technological advancements are reflecting in the education system of the U.S. The increased demand for the e-learning owing to its benefits is expected to increase the demand for the video-based educational content. Owing to the benefits of the video-based content such as better explanations within short time duration and consistency in the content is increasing its popularity.
The U.S. education market is segmented on the basis of the type, content, smart learning mode, component, and end user.
U.S. Education Market: Type Segment Analysis
U.S. Education Market: Content Segment Analysis
- Audio-Based Content
- Video-Based Content
- Text Content
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U.S. Education Market: Smart Learning Mode Segment Analysis
- Collaborative Learning
- Virtual Instructor Led Training
- Simulation-Based Learning
- Adaptive Learning
- Social Learning
- Blended Learning
U.S. Education Market: Component Segment Analysis
a. Interactive White Boards
b. Interactive Displays
c. Interactive Tables
a. Learning Management System
b. Adaptive Learning Platform
c. Learning Content Management System
a. Managed Service
b. Professional Service
U.S. Education Market: End-User Segment Analysis
- Higher Education Institutes
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By type, the on-premises solutions held the major market share of 60.92% in 2017. But, it is anticipated that in the forecast period the demand for the cloud-based solutions will increase. The cloud-based solutions anticipate registering the highest CAGR growth of 5.7% between 2018 and 2026. The benefits provided by the cloud-based solutions such as scalability, low investment, and increased storage space will increase its popularity.
By the type of content, text-based content segment accounted for the highest share in the U.S. education market in 2017. Majority of the learners in the U.S. are interested in text-based content and prefer the traditional style of learning thus this segment contributed majorly in 2017. But in the forecasted period, video-based contents will have a significant demand and it is expected that this segment will register the highest CAGR of more than 5% between 2018 and 2026.
By smart learning mode, the blended learning technique contributed the major share in the U.S. education market. The technique that is followed in the blended learning includes a combination of both online digital media and the conventional classroom methods. The benefits of blended learning include flexibility, efficiency, effectiveness, and consists of a combination of learning styles thus it is being preferred more.
Based on the component, hardware segment accounted for the majority of the share in the U.S. education market. Hardware plays an important role in the education system. Both in the traditional educational system and in e-learning hardware components are essential. The growing trend of e-learning has increased the demand for the interactive displays. Interactive displays contributed the major share of 45% in the U.S. education market. The popularity of the interactive displays is increasing as it provides enhanced features when compared to interactive whiteboards.
Broadly the end-users of the U.S. education market are higher education institute, K-12, and pre-K. The segment that dominated the U.S. education market is K-12. In 2017, this segment contributed the market share of 54.23%. The growing enrollments in the school and the increased focus on quality learning are propelling the growth of the K-12 segment.
The major market players in the U.S. education market are Cisco Systems, Inc. ,Desire2Learn, AWE Acquisition, Inc., Blackboard Inc., Pearson Plc., SumTotal Systems Inc., Tata Interactive Systems, Smart Technologies, Saba Software Inc., Promethean, Inc., Wall Family Enterprise, McGraw-Hill Education, NIIT Limited, ABCmouse.com, Adobe Systems Inc., Educomp Solutions Ltd., and Ellucian Company, among others.