Blockchain in Edutech Market: Introduction
- Blockchain is a distributed ledger technology that assures transparent & secure applications that can be used by employers, employees, and student to verify educational records. Blockchain is a system that records & stores transactional records. Block chain is shared and absolute record of peer-to-peer transactions made from interlinked transactional blocks & is stored in a digital ledger. Applicant in a network can also interact through the blockchain technology that is established by cryptographic techniques without any preceding trust or dependence between the involved parties. There is no central authority in the system of blockchain.
- The interaction that occurs in a blockchain is known to all participants and verification by the network is necessary before data is added, thereby accommodating trustless partnership among network participants, while recording inflexible audit trail of all interactions. Blockchain-based ledger technologies can be widely utilized in the field of education, as the majority of work done in education sector is paper-based and Block chain technology can transform it into easy paperless manner. Blockchain technology is also used to store academic transcripts, badges, certificates, lessons, courses & many for educational sector.
- The COVID-19 outbreak is anticipated to propel the Blockchain in edutech market, as the education sector is adopting the Blockchain technology to enhance efficiency, transparency, security, and safety. For ensuring the continuity of schools, universities are adopting Blockchain based learning systems to ensure ease of access of learning to students. Adoption of Blockchain in the education sector is assisting students & teachers to perform in a better way. This, in turn, is anticipated to create significant opportunities in the global Blockchain edutech market during the forecast period.
Global Blockchain in Edutech Market: Dynamics
Global Blockchain in Edutech Market: Key Drivers
- Demand for Blockchain in edutech is increasing, as using Blockchain technology offers flexible & durable system to store the credentials of students as they move from course to course throughout their professional life. Through Blockchain technology, students can store their evidence of formal and informal learning and share the content with a desired audience. Blockchain in edutech benefits students to update the curriculum that can be also shared with employers. Moreover, Blockchain technology is helping students to gain ownership of their educational data, which is a major factor driving the market.
North America to Account for Major Share of Global Blockchain in Edutech Market
- In terms of region, the global Blockchain in edutech market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is projected to be the market for Blockchain in Edutech globally, due to the rising demand for Blockchain smart contracts using Blockchain technology in educational institutions in the region. University and college students in the U.S. are accustomed to using technology and tech tools to gain knowledge & skills. Universities & colleges in the region are implementing Blockchain technology to secure the storage of information recorded in the chain due to which the academic material is secure and can be accessed by everyone. Providers of Blockchain in edutech solutions in the region are focusing on the launch of innovative solutions in order to cater to the demand for blockchain education solutions among customers and cope up with the advancements in technology. This trend is expected to continue further in the next few years due to the high demand for Blockchain in edutech among colleges & universities in the region.
- Vendors of Blockchain in edutech solutions in Europe, such as those based in the U.K., Germany, and Russia offer the Blockchain platform to connect the power of blockchain technology merely for recruiting & education. Vendors also offer the Blockchain platform to help students preparing for their examinations and to enrich the library and information services in schools, which in turn is further expected to drive the demand for blockchain in edutech.
Global Blockchain in Edutech Market: Competitive Landscape
Key Players Operating in Global Blockchain in Edutech Market
Providers of Blockchain in edutech solutions are executing development strategies to enhance their presence and consolidate share in the global blockchain in edutech market. Providers of Blockchain in edutech solutions have adopted major growth strategies such as product launches, partnerships & acquisitions, and forming of regional and global distribution networks in order to increase their presence in the global market.
Key players operating in the global Blockchain in edutech market include:
- Oracle Corporation
- Sony Global Education
- Blockchain Education Network
Global Blockchain in Edutech Market Dynamics: Research Scope
Global Blockchain in Edutech Market Dynamics, by Service type
- Support & Maintenance
- Integration & Implementation
Global Blockchain in Edutech Market Dynamics, by Application
- Smart Contracts
- Digital Identity
- Payment & Transactions
Global Blockchain in Edutech Market Dynamics, by Industry
- K -12
Global Blockchain in Edutech Market Dynamics, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.