Big Data Analytics in Education Market Projected to Hit $57.14 Billion by 2030 Growing at a CAGR of 15.3%
Big data analytics is a method by which companies examine large set of data for uncovering useful information such as market trends, customer preference.
PORTLAND, PORTLAND, OR, UNITED STATE, July 12, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, The global big data analytics in education market was valued at $13.58 billion in 2020, and is projected to reach $57.14 billion by 2030, registering a CAGR of 15.3%. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Key industry players – Alteryx, Inc., Blackboard Inc., Fintellix Solutions pvt. ltd., LatentView Analytics, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tableau Software, and TIBCO Software Inc.
Lucrative benefits of Big Data in education sector, increase in awareness about the changing learning system, and rise in investment in education sector to improve administrative services drive the growth of the global big data analytics in education market. However, high initial investment cost restrains the market to some extent. On the other hand, surge in adoption of cloud-based learning analytics solution and advent of machine learning & artificial intelligence present new opportunities in the upcoming years.
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The report offers detailed segmentation of the global big data analytics in education market based on component, deployment model, application, and region.
Based on component, the software segment held the highest market share in 2020, holding more than two-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the services segment is estimated to register the highest CAGR of 17.9% from 2021 to 2030.
Based on deployment model, the on premise segment held the largest market share in 2020, holding more than two-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the cloud segment is projected to register the highest CAGR of 19.9% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than half of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 19.4% during the forecast period.
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COVID-19 scenario:
• The outbreak of the COVID-19 pandemic led to a significant growth of the global big data analytics in education market.
• Due to the implementation of lockdown by governments in majority of the countries, there has been a huge rise in adoption of online teaching culture among students & teachers. This in turn, positively impacted the global big data analytics in education market.
• Moreover, analyzing students’ performance, identifying the core area of students, and monitoring students after graduating from college are few important benefits of big data and business analytics in education, which foster the market growth.
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