Adaptive learning technology is a system-based method which currently showing tremendous growth in the modern generation. This technology has huge applications in advanced learning. It is significantly used to provide online learning students with a unique experience to improve their performance. The technology is embedded with techniques that enhance the student learning procedure and propels engagement and participation in study programs. These factors are driving the global Adaptive Learning Market.
In recent years, the increased usage of adaptive learning software in educational institutes and the growing focus on personalized learning are accelerating the market’s growth. Even the rising demand for e-learning solutions with government initiatives for adaptive learning solutions for advancing digital learning are boosting the Adaptive Learning Marketgrowth. Further, smartphones and the Internet contribute to the global adaptive learning market.
During the pandemic, the educational institutes remained shut down for a longer period which caused a massive loss in learning, causing learning loss among students, schools, universities, and other educational platforms. But this factor has increased the adaptive learning management software demand. Hence, the market noticed a good growth rate during the lockdown period. The rise in investments in adaptive learning also increased, and the key players offered new learning features.
The Adaptive Learning Market is registered to reach USD 1.5 billion to USD 5.4 billion by 2026 and projects a CAGR of 19.43% during the forecast period.
The Adaptive Learning Marketis segmented into components, applications, deployment, and end-user segments. In the component type, the market is segregated into platforms and services. Further, the service segment is classified into professional and managed services. The professional section has implementation, consulting, support, and maintenance.
The application part of the market segmentation is divided into EdTech companies and educational institutes. The deployment segment is bifurcated into cloud and on-premises.
The end-user includes academics and enterprise, which is further sub-segmented. The academic segment is categorized into K-12 and higher education, while the enterprise segment is classified into large enterprises, Small and medium enterprises.
According to the geographical updates, the Adaptive Learning Marketis showing tremendous growth in major continents such as Asia Pacific, Europe, North America, the Middle East and Africa, and South America.
North America covers the largest revenue share, and it is estimated to maintain its growth in the future years. The presence of major countries which are technologically developed, such as the US and Canada, is driving the North American market. The US is the largest market shareholder among other counties. Industrial players play a major role in propelling the market’s growth in the region. Europe is considered the second-largest market due to government initiatives in the education sector.
The Asia-Pacific region holds the highest CAGR rate and is expected to hold in the evaluation period. Like China, Japan, and Singapore, the key developing countries are highly driving the region’s market.
In January 2020, the industrial player Person acquired learning technology from Smart Sparrow to boost future education technology. It further enhanced the current adaptive learning capabilities and helped accelerate the rollout of its Global Learning Platform (GLP).