iCrowdNewswire Mar 3, 2021 6:08 AM ET
The academic software market in North America is expected to grow from US$ 270.63 million in 2019 to US$ 809.26 million by 2027; it is estimated to grow at a CAGR of 15.2% from 2020 to 2027.
The Business Market Insights provides you regional research analysis on “North America Academic Software Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the North America Academic Software market during the forecast period, i.e., 2020–2027.
Academic Software is a solution used in schools, colleges, and universities to download or access academic resources and manage other operational activities across the campus. The solutions are available monthly or annual basis for students, teaching staffs, and non-teaching staffs based on the investment capacity of the organization. The adoption of online learning platform coupled with the integration of several technologies such as artificial intelligence, augmented reality and virtual reality is increasing across North America, which, in turn is creating demand for advanced solutions across the education sector to manage operation processes efficiently.
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Open source academic software solutions are available for free on online websites for professional use by educational institutions, such as schools, colleges, and universities. These solutions enable institutions to keep a record of all data in their systems and manage the same. The open source academic software is generally self-hosted web-based academic solutions with almost all features of well-established academic solutions, such as ALMA and CAMPUS CAF. The high cost of software implementation is influencing the small and medium institutions SMEs to adopt freely available solutions. Companies that are offering open source academic software include OpenSIS, Rosario SIS, Gibbon, iGuru, Skyward, and Schoolguru. The major reason for adopting open source academic solutions among institutions is to reduce cost of software purchase and implementation of the same. With the adoption of open source software solutions, the institutions also eliminate the vendor lock-in period associated with paid academic software solutions. Thus, the prevalence of open source academic solutions is expected to restrict or hinder the market growth during the forecast period.
Major key players covered in this report:
- Adobe Inc.
- Articulate Global Inc.
- Brainshark, Inc.
- Instructure, Inc.
- iSpring Solutions Inc.
- Lessonly, Inc.
- SAP Litmos
Increasing adoption of eLearning across institutions is the key factor driving the growth of the North America academic software market. In eLearning, by reading or watching content, it is changing the way education is delivered. Several eLearning courses such as animation, podcasts, and videos create a multi-modal and realistic learning environment. ELearning, educational content opens up several immersive learning opportunities for learners through computers, laptops, tablets, or smartphones. Instead of being in a passive environment, students can choose what they need to learn easily and quickly. These benefits are increasing the demand for academic software across North America. Also, growing acceptance of E-Learning across academic institutions to bolster the demand for academic software in the coming years, which is further anticipated to drive the North America academic software market.
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The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the North America Academic Software market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the North America Academic Software market segments and regions.
The research on the North America Academic Software market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the North America Academic Software market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Academic Software market.
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