K12 and Higher Education
Overview of the global writing and marking instruments market
The global writing and marking instruments market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. The emergence of the luxury segment along with the growing brand consciousness among consumers will drive the growth prospects for the global writing and marking instruments market for the next few years. For instance, a number of people in business use luxury writing instruments as a status symbol. Also, according to the industry research report, a large number of consumers use these products for gifting and promotional event purposes. Moreover, the demand is increasing from South Korea because of the growing interests of its citizens in traditional writing instruments such as luxury fountain pens.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. Some of the major factors responsible for the market’s growth in the region is the increasing student population, growing emphasis on education, expanding enterprise activities, growing workforce, and growing demand for quality writing instruments. Also, China, India, Japan, Indonesia, Malaysia, Singapore, Thailand, and the Philippines are some of the countries, which are increasingly contributing to the market’s growth.
Competitive landscape and key vendors
The global writing and marking instruments market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors increasingly
Overview of the global K-12 online tutoring market
The global K-12 online tutoring market is anticipated to grow rapidly and will post a CAGR of close to 12% during the forecast period. The increasing demand for international education will drive the growth prospects for the global K-12 online tutoring market until the end of 2021. One of the key drivers contributing to this rising demand is the emergence of international schools with consistent enrollments from both local and expatriate population. Also, the rise in income level of individuals has encouraged them to impart better education to their children. Furthermore, with the increasing demand for assessments from private and international schools, the trend for tutoring support for subject-based learning will also increase.
In terms of geography, APAC accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. The increasing disposable income of the households in key countries such as India and China is contributing to the growth of the online tutoring market.
Competitive landscape and key vendors
The global K-12 online tutoring market is highly fragmented and competitive due to the presence of many regional and international players across the globe. The market is majorly dominated by regional players; as a result of which, large organizations are increasingly focusing on M&A strategies to penetrate the market.
Key vendors in this market are -
- Club Z! Tutoring
- Fleet Education Services
- New Oriental Education and Technology
- Pearson Education
Other prominent vendors in the market include ArborBridge, BenchPrep, InstaEDU, JEI Learning Centers, Knewton, Manhattan Review, Peterson's Nelnet, Revolution Prep,
Overview of the lecture capture solutions market in the US
The lecture capture solutions market in the US is anticipated to grow rapidly and will post a CAGR of close to 17% during the forecast period. The increasing corporate spending on training will drive the growth prospects for the lecture capture solutions market in the US until the end of 2021. One of the major factors responsible for the increasing spending on training is the growth of the corporate sector. Various advantages of implementing lecture capture solutions for corporate training includes enhancement of employee training and onboarding, live stream meetings and product announcements, reduction in training and travel costs, and a decrease of AV equipment and integration costs. It has been observed that the expenditure on procuring content, technology, and services to enhance training process in the US has also increased. Also, the emphasis on the productivity and efficiency of employees has increased the focus on technical and vocational education institutions on meeting the constantly evolving demands of the employers and the labor market. Furthermore, old educational and training methods are now being replaced with innovative teaching methods, which incorporate online training modules and capitalize on e-learning.
The surge in cloud-based lecture capture solutions will drive the growth prospects for the lecture capture solutions market during the forecasted period. Since cloud-based services involve a one-time up-front capital investment, it eliminates other costs associated with service deployments, such as server administration, software maintenance, and support. Some of the major factors that compels the vendors to use the cloud technology are to provide the required infrastructure to ensure high performance, reliability, and delivery.
Competitive landscape and key vendors
Overview of the corporate training market in the US
Technavio’s market research analyst predicts the corporate training market in the US to grow at a CAGR of almost 10% between 2016 and 2020. Being a pioneer in introducing job-related and skills-related training, several vendors in the US market for corporate training are coming up with advanced technological and communication environment due to the digitization efforts and penetration of mobile devices. The evolving tools and techniques, domain-specific technical training, and enhanced learning delivery methods are propelling corporations, individual consumers, and government agencies to spend more time and resources on training products and services. Companies are making more investments in online methods to train employees across different locations. While some organizations develop patented training programs in alliance with training institutions, others are using specifically licensed services developed by key training institutions.
Corporate training vendors have come up with innovative products and services to help organizations in their training efforts. The adoption of gamification tools and technologies in organizations helps the management to establish and share company objectives coupled with the provisions of feedback and recognition. Moreover, training through the gamification method is the latest trend in the market, which enables the integration of 3-D characters into e-learning to make corporate e-learning more interactive and stimulating. The tools used in gamification projects include leader boards, badges, real-
Global outlook of the soft skills training market
Technavio’s market research analysts predict the global soft skills training market to grow steadily during the predicted period and post a CAGR of more than 10% by 2020. This industry research report identifies the rise in collaborative learning methods to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Due to the availability of new learning models, educational institutions especially in the higher education sector, are emphasizing on the adoption of collaborative learning models that enable students to develop a multi-dimensional skill set. Collaborative learning helps learners to work together on one specific problem and also facilitates them to explore critical thinking skills. To have a competitive edge, vendors in the soft skills market will start incorporating their soft skill training programs with advanced analytic tools, which in turn, will drive market growth.
One of the major trends that will gain traction in this market is the increasing demand for cloud-based soft skill training courses. In addition to offering an easy platform for students and employees to access and download training programs, cloud-based training also eliminates the cost for software maintenance and server administration costs. Additionally, they also allow learners to complete the training program at their own pace and offers several other advantages such as high storage capacity and easy access of online data. This will increase the demand for cloud-based programs from organizations around the world and will induce vendors in the market to offer cloud -based soft skills training modules.
Overview of the K-12 educational technology market in ASEAN
Market research analysts at Technavio have predicted that the K-12 educational technology market in ASEAN will grow steadily during the next four years and post a CAGR of almost 25% by 2020. This market research analysis identifies the rise in adoption of the bring-your-own-device (BYOD) program as one of the primary factors that will have a positive impact on the growth of the market. Schools in ASEAN, especially the private institutions, are focusing on adopting new techniques in education delivery. This will lead to the increased implementation of the BYOD policy that allows students to explore various ways of digitization. It also enables self-paced learning, where students have unlimited access to education apps and learning platforms that will promote collaborative learning and engagement. Such benefits will induce more institutions to adopt mobile education, which will, in turn, drive the demand for educational hardware and software in ASEAN.
The increasing number of K-12 institutions implementing educational technology in the ASEAN will lead to the emergence of startups that provide education technology solutions, especially in countries such as Singapore and Indonesia. Owing to the conducive conditions and regulatory efficiency, Singapore serves as a profitable market for education technology startups. Kungfu-math.com, a company that teaches math through games and VivaLing, an online language learning academy for kids that employs
Building a skilled and intelligent workforce is a priority in most global economies. As education is the foundation for this, the market potential in the K-12 education segment is continuously growing and evolving.
In addition to advances in the K-12 segment, global demand for higher-education qualifications has increased enrollments in higher education and intensified competition among the stakeholders in the higher-education segment. Universities are aggressively formulating strategies to enhance their global standings, which is presenting business opportunities for serving the higher education market.
The need for increased visibility of educational institutions in the K-12 and higher-education segments will result in new business models throughout the projected period.
As a result, industry stakeholders—including teachers, students, education institutions, governments and regulatory bodies, and e-learning companies—are expected to expand considerably over the next few years.
Technavio’s education research reports aim at providing actionable market insights to all the stakeholders of the education industry and aid them in their strategic decision-making processes.