Global Personalized Learning Market

September 21, 2021
ID: SR/ICT-102
Format:Pdf
Pages:220

Global Personalized Learning Market By Component (Platform, Services), By End User (Higher Education, K-12, Academic) and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

The personalized learning market size was valued at USD 1.9 Billion in 2020 and projected to reach USD 8.09 Billion by 2027, growing at a CAGR of 23% during the forecast period, 2020-2027.

Growing worldwide population and use of modern technologies in personalized learning such as artificial intelligence across the globe. This, in turn, is anticipated to contribute to the personalized learning market growth in the forecast period.

Moreover, growing technological advancements in digital and cyberspace propel the growth of the global personalized learning market in the upcoming years.

Additionally, factors such as increasing investments in personalized learning, rise in government initiatives for education and the presence of economically and technologically advanced market players are anticipated to drive the global growth of the personalized learning market.

What is Personalized Learning?

Personalized learning is a teaching approach to meet the different needs of students. It is computer-based teaching, having the application programming connected to the cloud or a particular system. Personalized learning is blended learning that progresses at the pace of students learning ability.

Growth Driver

Personalized learning challenges traditional teaching practices.

There is a major growth opportunity for personalized learning in the global market due to the challenges in traditional teaching practices. The education institutes and students are fascinated with personalized learning, as it is an easy and practical approach. This will fuel the growth of the global customized learning market.

However, the major factor controlling the growth of the global personalized learning market is the lack of awareness among people, the high initial cost of adapting personalized learning and meeting the diverse needs of students.

Pre Covid-19 impact

Factors such as the rise in government initiatives for education and economically and technologically advanced market players drive the market growth for personalized learning. Additionally, the growing focus on personalizing the learning solutions and process had created several opportunities for the personalized learning market in the Pre-covid era.

Covid-19 impact

Coronavirus disease (COVID-19) is a global public health disease that has brought serious social, medical and economic challenges in every industry. The World Health Organization has declared COVID-19 a public health emergency. The spread of COVID-19 is generating an enormous disruption in the everyday activities of people. As coronavirus crises took over the world and led to curfews and lockdown, which impacted many businesses worldwide, countries across the globe are trying to prevent further contagion by adopting various measures such as social distancing, testing, quarantine, and many others.

Post Covid-19 impact

Since the COVID-19 virus outbreak in December 2019, it has increased the demand for the personalized learning market across several sectors. The spread of COVID-19 has adversely affected the overall educational institutions and has led to the closure of schools, colleges and universities across the globe. This has increased the demand for learning on digital platforms. Therefore, with the outbreak of the COVID-19, the market will grow at a high rate for personalized learning across the globe, which has positively impacted the personalized learning market value in 2020 and subsequent years.

Component Segmental Analysis

Based on the component, the personalized learning market is segregated into platforms and services.

The service segment is estimated to have the highest market share in the component segment for the personalized learning market. This is due to various services provided by the customized learning service providers such as implementation, consulting, support and maintenance services. Adaptive learning, deployment, smooth installation are some solutions offered by these service providers to the end-users.

End-User Segmental Analysis

The personalized learning market is bifurcated into higher education, k-12, and academics based on the end-user.

The academic segment will dominate the personalized learning market by 2027 due to the growing number of educational institutions like schools, colleges, universities, and other institutions. Academic end-users in the market work with the most common way of learning and educating through the share of video, voice and data.

However, the K-12 segment is projected to grow with a higher CAGR throughout the forecast period for the personalized learning market.

Region Segmental Analysis

The personalized learning market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America is estimated to project considerable growth over 2020-2026. It is due to the technical advancements and economically advanced countries such as the US and Canada.

However, Asia Pacific will have a prominent share in the personalized learning market by 2027, owing to the region’s rapidly increasing population and supportive government initiatives for education.

Competitor Analysis

Companies include D2L Corporation, Knewton, Inc., VitalSource, Smart Sparrow Pty Ltd., Dreambox Learning, Edgenuity, Agile Education, Wolters Kluwer, McGraw-Hill, Pearson are the key players in the global personalized learning market.

Key Stakeholders

Market research and consulting firms
EdTech Companies
Investors
Educational Institutes
Research organizations and consulting companies
Technology providers
Regulatory bodies

Recent Developments

In September 2018, VitalSource obtained the assets of the learning and data analytics platform, Acrobatiq. This acquisition supports expanding its access to cutting-edge and personalized digital course experiences intended to improve student outcomes.
In August 2019, Curriculum Associates upgraded its solutions i-Ready and Ready. They added learning games to i-Ready and Ready. These games are referred to as classroom mathematics to assist students in practicing numerical concepts. These are for grade K-5 students to motivate and support them in understanding mathematics.
In January 2020, Pearson procured Smart Sparrow, a personalized learning platform provider. Pearson procured Smart Sparrow for approximately USD 25 million to upgrade its capabilities in the market. This acquisition will also boost the growth of Pearson’s Global Learning Program.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 1.9 Billion
The revenue forecast in 2027	USD 8.09 Billion
Growth Rate	CAGR of 23% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021-2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	D2L Corporation, Knewton, Inc., VitalSource, Smart Sparrow Pty Ltd., Dreambox Learning, Edgenuity, Agile Education, Wolters Kluwer, McGraw-Hill, Pearson

Market Modelling

By Component

Platform
Services

By End-User

Higher Education
K-12
Academic
Others

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is personalized learning?

Personalized learning is a teaching approach to meet the different needs of students. It is computer-based teaching, having the application programming connected to the cloud or a particular system.

What is the growth rate of the personalized learning market?

The personalized learning market size was valued at USD 1.9 Billion in 2020 and projected to reach USD 8.09 Billion by 2027, growing at a CAGR of 23% during the forecast period, 2020-2027.

Which region has the highest growth rate in the personalized learning market?

North America is expected to project considerable growth over 2020-2026 due to the technical advancements and economically advanced countries such as the US and Canada.

Who are the key players in the personalized learning market?

D2L Corporation, Knewton, Inc., VitalSource, Smart Sparrow Pty Ltd., Dreambox Learning, Edgenuity, Agile Education, Wolters Kluwer, McGraw-Hill, Pearson are the key players in the global personalized learning market.

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Global Personalized Learning Market