Leading market research company Technavio is predicting positive growth throughout the global education technology market over the next four years.
Areas of the education technology market slated to witness an increase in revenues between 2016 and 2020 are wide and varied. These include lecture capture solutions, student information management systems, education hardware and adaptive learning.
The report states that currently, cloud-based lecture capture solutions are very fashionable. Fast emerging as the preferred form of delivering lectures to users, it is expected to be widely deployed by organisations involved in online education. As a result of this, the global lecture capture solutions market is expected to reach a total of $672.25 billion by 2019.
The second most sought after education technology in the market is student information management systems. As education institutions’ need for workflow automation increases, this market is expected experience annual compound growth of more than 15% until 2020.
Another fast growing segments of the education technology market was said to be the global online language learning market. Growth in this market is being driven by increased demand from the corporate sector for multi lingual professionals. Resultantly, the market for global online language learning is expected to record a compound annual growth of roughly 10% through 2020.