Competency-based Education Spending Market: Introduction
- Competency-based education spending focuses on combining transparent and intentional approaches to design a curriculum with an academic model. This helps students acquire and demonstrate their skills and knowledge by engaging in learning activities, exercise, and experiences that are aligned with clear outcomes.
- Furthermore, competency-based education helps to identify the diverse education system, so as to study innovative funding methodologies of school finance from other countries and states across the world.
- The COVID-19 outbreak has been the primary catalyst for the growth and adoption of competency-based education spending. Governments of various countries across the world have imposed lockdowns to curb the spread of the disease. This has prompted schools to provide an engaging and flexible learning environment, wherein progression and development is based on mastery of open learning competencies or objectives. Which can be used to validate student learning, in learning topic or course during this pandemic outbreak. This, in turn, is expected to boost the global competency-based education spending market.
Global Competency-based Education Spending Market: Market Dynamics
- Increase in investments by prominent vendors for the development of learning management systems (LMS), student information management systems (SIMS), student information system (SIS), enterprise resources planning (ERP), change and configuration management system (CCMS), learning analytics systems, content authoring tools, (LCMS) learning content management system, and education data security tools is anticipated to propel the competency-based education spending market
- Growth in implementation of adaptive learning, social learning, and personalized learning in educational organizations and institutions is also estimated to augment the global competency-based education spending market.
- Rise in need of more personalized learning strategies such as competency-based education (CBE) during the COVID-19 outbreak is projected to boost the global competency-based education spending market
- Increase in focus on alternative assessments such as portfolios instead of examinations in schools and institutions is also likely to fuel the competency-based education spending market
- High cost of courses owing to the absence of a fixed time frame is estimated to restrain the global competency-based education spending market in the near future
North America to Account for Major Share of Global Competency-based Education Spending Market
- In terms of region, the global competency-based education spending market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa
- North America is expected to lead the global competency-based education spending market during the forecast period, due to the presence of well-established players that offer competency-based education solutions and systems for transforming education systems in order to ensure high-quality learning for all students in the U.S. and Canada
- The competency-based education spending market in Europe is anticipated to expand in the near future, led by effective planning and launch of high quality personalized competency-based education solutions and systems in the region
- Asia Pacific is expected to hold significant share of the global competency-based education spending market in the near future due to expansion of funding system in education system of developing countries such as China and India. Additionally, governments of developing countries are investing significantly in improving the education sector (including competency-based learning). This is projected to fuel the competency-based education spending market in Asia Pacific.
Global Competency-based Education Spending Market: Competitive Landscape
Key Players Operating in Global Competency-based Education Spending Market
Companies operating in the global competency-based education spending market are increasingly investing in research and development activities to develop new and innovative techniques to provide competency-based education spending solutions. The global competency-based education spending market is highly fragmented, with the presence of numerous manufacturers in developed and developing regions. Key players operating in the global competency-based education spending market include:
- Blackboard Inc.
- D2L Corporation.
- Ellucian Company L.P.
- Instructure, Inc.
- Anubavam LLC.
- BNED LoudCloud, LLC
- Cengage Learning, Inc.
- Epiphany Learning LLC
- John Wiley & Sons, Inc.
- Motivis Learning Systems
Global Competency-based Education Spending Market: Research Scope
Global Competency-based Education Spending Market Segmentation, by Systems
- Learning Management Systems (LMS)
- Student Information Management Systems (SIMS)
- Student Information System (SIS)
- Enterprise Resources Planning (ERP)
- Change and Configuration Management System (CCMS)
- Learning Analytics Systems
- Content Authoring Tools
- Learning Content Management System (LCMS)
Global Competency-based Education Spending Market Segmentation, by End-user
- K-12 Schools
- Higher Education Institutions
Global Competency-based Education Spending Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Competency-based Learning or Personalized Learning
- Competency-based Education
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.