The accessibility of educational content in rural areas and cost-effective benefit of training by captured lectures are advanced features of lecture capture systems, over the traditional educational approaches. The rise in demand for enhanced learning experiences through advanced educational technology services enticed the growth of lecture capture systems in the education sector. According to the World Bank data, expenditure on the educational sector is increasing faster compared to the rest of the global economy, and is accountable for 4.81% of the global GDP in 2015. A rise in demand for distance education and high adoption of e-learning activities are the key factors driving the growth of the lecture capture systems market. The global Lecture Capture Systems Market size valued at $2.86 billion in 2018, and is anticipated to grow with a CAGR of 26.4%, throughout the forecast period 2019-2025.
Rise in adoption of online education, and increased government initiatives in this field have triggered the growth of the lecture capture systems market around the globe. The e-learning activities appeal to a broad set of online learners engaged in interactive and entertaining platforms. Nowadays, students are accessing video streaming websites such as YouTube and Lynda.com for learning practices due to increased internet speed. Moreover, visually appealing e-learning infographics, development of the video content search technology, group collaboration e-learning projects, and large amount of data available for each stream of education are driving the adoption of e-learning activities, propelling the growth of the lecture capture systems market. High penetration of portable devices across the world is another major factor driving the lecture capture systems market. Many coaching institutes and distance learning colleges are using lecture capture systems and offering demo lecture videos for free, to increase the demand for these solutions. Owing to convenience and availability of video content, students are highly adopting these smart learning solutions to access videos remotely from around the world.
In developing countries, e-learning facilities have just started to penetrate into the rural areas. Hence, the governments in the emerging nations have launched initiatives to promote digital education techniques, so that children in the remote areas receive basic education. According to the India Brand Equity Foundation (IBEF), the education sector in India valued at $91.7 billion, as of 2018. For instance, the government of India has launched four initiatives to promote e-learning, which include National Academic Depository, National Digital Library, Swayam, and Swayam Prabha.
North America Holding Major Share of the Lecture Capture Systems Market
North America generated approximately 32% of the global revenue in the lecture capture systems market in 2018. Countries such as the U.S., Canada, and Mexico are leading the market, owing to the remarkable growth in the industrial sector. Developments in Audio Visual (AV) and Information Technology (IT) solutions in the education sector have significantly improved the student learning experience. In the U.S. and Canada, there is a high affinity for adoption of new technologies. The rise in online education, growing government initiatives for digital education, and increase in distance learning courses, fueled the growth of the lecture capture systems market in North America.
The application segment will create the most lucrative opportunities in the lecture capture systems market is the corporate sector. This application segment is projected to grow at a CAGR of 28.9% through to 2025. As the recorded lectures are used for training employees in the corporate sector, the overall training cost incurred by organizations will decrease, as a single recorded lecture can be used to train multiple employees.
Lecture capture solutions have numerous advantages in corporate training module, which includes augmentation 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. The productivity and efficiency of employees have increased the focus on technical education institutions by meeting constantly evolving demands of the employers. Furthermore, traditional educational and training methods are now being replaced with advanced teaching methods.
Factors Driving Lecture Capture Systems Market
· Rising Integration of Audio Visual Systems
Rising integration of AV systems in the classroom is driving the lecture capture system market growth. To stimulate each student’s learning method with a combination of images, sounds, and attention-grabbing media teachers using audiovisual solutions in the classrooms. AV solutions can engage students in the subject that is being discussed in the classroom. Nowadays, more educational institutions are using this technology in their classrooms, which in turn, increases the demand for lecture capture systems.
· Growing Focus of the Governments Towards Digitalization
Government initiatives towards acceptance of digital platforms for the rural and urban population in emerging economies are fueling the market demand around the globe. The increasing focus of the governments in the direction of distant learning further led to this market growth.
· A Rise in Number of Flipped Classrooms
Panopto, a software for recording lectures has a huge demand in the market. An easy-to-use tool with a built-in recording system that can be used in the classrooms on campus and through webcam students can record audio and video of lectures. It can run on personal computers, laptops, iPhones and iPad apps for recording micro-lectures from the smartphones or tablets. Use of lecture capture systems in flipped classrooms led this industry to size worldwide.
The Major Players in the Lecture Capture Systems Market:
The prominent players in the lecture capture systems market include Accordent Technologies, Creston Electronics, Cisco Systems, Crestron Electronics, Inc., Dell, Echo360, Inc., Haivision, Mediacore, HABOOK Information Technology, Inc., Lumens Digital Optics, Inc., Matrox, Kaltura, Mcgraw-Hill Education, Inc., Panopto, Polycom, Inc., ShareStream LLC, and YuJa Corporation.
Mergers and acquisitions are key strategies adopted by players to stay ahead of their competitors. Polycom, Inc., a U.S. based company, leader in video, voice, and content solutions announced acquisition with San Jose based Obihai Technology. Such joint ventures aid the market players to expand their geographical boundaries and accentuate their footprint into the global lecture capture systems market.
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