OVERVIEW: In the modern era, education is become the necessity of human life for living and it refers as a tool for becoming something and achieving a specific target. Education keep us aware about the surroundings and what is happening on the globe. The market of education is totally depend on the new innovations in the education system and scope of education. However, education market research report suggests that the education market is expected to grow more and more in the forecasted period with more development in the education system which is helpful for the transformation in the lives of human beings.
OUTLOOK: The education system is having dynamic changes with more development in the technology as well as in the economy. With the help of Artificial intelligence and more development in the technology everyone is able to gather education from several sources. The technology development leads to significant growth in the education market as now while sitting anywhere on the globe the education seeker is able to get seek education and can learn new things. As the education is very much essential for everyone so the government is also taking initiative and support the education system, open new government education institutions and universities with the reasonable fee. In India, agriculture play significant role so Indian government open so many agriculture universities throughout 1999 to 2017 for providing better education related to agriculture specifically. Since past few years online education market is trying experiment into the digital education system with very positive results. Whereas, the digital education system is one of the most prominent system which reduced the cost and eliminate theory base study. With the help of digital education system students can make their notes on computer/mobile/tablet screen and that can be evaluated by teacher digitally. Additionally, with the more development in the technology and innovation in the old processing units enhance the learning style of students in the coming years and market players provide more interactive learning tools and techniques. The education industry analysis shows that the earlier students could not have so many innovative techniques of learning and area of choice. But now with the introduction of information technology and internet of things enhance the sector of education and lead the market growth significantly.
MARKET: Rising trend in the global education industry is expected to grow by the time and establishment of the education organization. Moreover, most of the schools and other education institutes are probably using information technology and machine learning which provide reliable education. Whereas, in 21st century the major elimination is done with the chalkboards, SMART boards are innovated and make the students more active while studying. Therefore, for gather the attention of students, most of the education institutions are adopting this SMART boards which the market growth of education system globally. Moreover, with the more development in the technology and in the more improvement in the education system slightly decrease the use of blackboard, chalk, ink pens and textbooks.
COMPETITION: Establishment of new government education institutions and existence of numerous key players around the globe especially in America and Asia-Pacific region bringing more development in the artificial intelligence techniques and information technology like chatbots lead the more competition across the globe. Most of the key players provide various services through an application and with the growing use of smart phones. Many of the key player are making software and several learning app related to education. In the apps many facilities are provided by the makers to the users which lead more competition in the education industry.
CONCLUSION: The education industry is expected to grow significantly due to increase in disposable income, development in the technology and others. Moreover, many of the companies are trying to enter in the education market in the information technology which mainly aims in the improvement of apps and lead to enhance customer interaction.
To know more, click on the link below:
Ankur Gupta, Head Marketing & Communications