The global higher education market was valued at almost USD 13 billion in 2016 and is anticipated to surpass USD 17 billion by 2021, says Technavio.
Technavio has published its latest market research report on the global higher education market, under its K12 and higher education portfolio. This market study considers the leading drivers and key emergent trends and offers an analysis of main players like Blackboard, D2L, Dell, Ellucian, Pearson Education, and Samsung.
According to Jhansi Mary, a lead analyst for K12 and higher education research at Technavio, “The increasing incorporation of formative assessments will fuel the growth in the higher education market. Various educational institutions are increasingly emphasizing on the inclusion of continuous assessment culture. The concept of formative assessment includes assessments an integral part of the learning process, which, in turn, improves the learning process of the students.”
The educational institutions are incorporating software solutions that allow the teachers to make use of various online assessment software to create an online test. The formative assessments act as practice sessions for students that can frequently be taken and are designed to provide instant feedback that can then be further used to improve the understanding of students regarding specific concepts. The various online assessment tools that are available in the market are AnswerGarden, Ask3, Plickers, and ThinkBinder.
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Surge in assessments through social media platforms
The use of embedded technology and integration of social media in classroom learning will revolutionize the higher education market. Various social media platforms are used for enhancing participation of students in learning through informal ways and is becoming a part of formative assessment. Online platforms like Twitter is gaining immense popularity as it supports classroom communication, team building, and provides educational resources. Other social media platforms like Facebook and Google Plus are also creating platforms for students to interact and take assessments.
Cloud-based assessment service platforms
The growing use of cloud-based software for deploying online assessment software by various educational institutions will fuel the growth of the market over the next few years. Cloud services help users to reduce IT overhead expenses by offering expandable, on demand services, and tools. The advent of digitalization is creating a pathway for new learning models and creating an opportunity for teachers evaluate the student’s performance on various metrics. Cloud-based testing solutions also provide features like question bank management, skills assessment, and analytics support that allow the institutions to manage and integrate these solutions with other cloud applications, which are a part of their infrastructure.
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This research report consists of an in-depth breakdown of market shares and sizes of the sub-sections and geography. A study of the key companies, including their market shares, business overview, key financials, etc. is offered in this report. This market study also provides a detailed analysis of primary drivers, challenges, and opportunities influencing this market.
A comprehensive analysis is offered in the Technavio report titled, ‘Global Higher Education Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
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- Private Tutoring Market in China 2017-2021
- Global Higher Education Testing and Assessment Market 2017-2021
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