North America Academic Software Market
No. of Pages: 91 | Report Code: TIPRE00019122 | Category: Technology, Media and Telecommunications
No. of Pages: 91 | Report Code: TIPRE00019122 | Category: Technology, Media and Telecommunications
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.
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.
North America is adversely affected by the COVID-19 outbreak. Owing to the favorable government policies to boost innovation and reinforce infrastructure capabilities, North America have the highest acceptance and development rate of emerging technologies. Any hindrance on industries is therefore projected to hamper the region's economic development. Currently, due to the COVID-19 outbreak, the US is the worst-affected country in the region, thus affecting the sudden stands still across all the industries present in the region. It is becoming apparent with the pandemic spreading across the US that a few can escape its scope, presenting significant challenges to all industries. The education sector is positively affected by the outbreak as all schools, colleges, and universities are temporarily closed to control the spread of the virus. Eventually, with the high support from the government, the students in North America are shifting to online studies from offline learning methods. For instance, according to data published by the United States Department of Education, 2,500 colleges are presently offering online courses across the States. Additionally, several top universities have committed to decade-long, multi-million dollar contracts and joint ventures in central, vital academic areas with educational online program managers (OPMs). These collaborations, if properly designed, will allow universities to leap forward. Thus, the rising shift of the education sector to online mediums owing to the pandemic is expected to drive the growth of the North America academic software market during the forecast period.
Strategic insights for the North America Academic Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 270.63 Million |
| Market Size by 2027 | US$ 809.26 Million |
| Global CAGR (2020 - 2027) | 15.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Academic Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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. 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.
In terms of deployment, the cloud segment accounted for the largest share of the North America academic software market in 2019. Further, the colleges and universities segment held a substantial share of the North America academic software market based on application in 2019.
A few major primary and secondary sources referred to for preparing this report on the academic software market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alma; Software Advice, Inc.; ConexED; Envisio; PowerVista Software, Inc.; Qualtrics; Tophatmonocle Corp.; TrueDialog; WizeHive.
The North America Academic Software Market is valued at US$ 270.63 Million in 2019, it is projected to reach US$ 809.26 Million by 2027.
As per our report North America Academic Software Market, the market size is valued at US$ 270.63 Million in 2019, projecting it to reach US$ 809.26 Million by 2027. This translates to a CAGR of approximately 15.2% during the forecast period.
The North America Academic Software Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Academic Software Market report:
The North America Academic Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Academic Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Academic Software Market value chain can benefit from the information contained in a comprehensive market report.
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