The global Course Authoring Software market was valued at US$ 780.8 Mn in 2021 and is expected to reach US$ 3.6 Bn by 2032 finds Future Market Insights (FMI) in a recent market survey. As per the findings, revenue through educational institutes is projected to grow at a CAGR of 13.6% during 2015 – 2021.
Education technology had already experienced rapid expansion and adoption before COVID-19, with global Edtech investment exceeding USD 18.7 Bn by 2021 and the market for online learning as a whole forecast to hit US$ 350 Bn. During COVID-19, there was a noticeable increase in the utilization of language apps, online tutoring, video conference, and online learning software.
Many virtual education platforms are providing free accessibility to the service in response to overwhelming demand, including BYJU’S. As per Mrinal Mohit, the firm’s Chief Operating Officer, the number of new users of BYJU’s Think and Learn app has increased by 200% since the company announced free live classes.
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The pandemic hit many industries but the learning platforms and course authoring software market started growing quickly and it is predicted that this will continue in the upcoming years.
“Online education and professional certifications are becoming increasingly popular, which is projected to increase market for course authoring software in the upcoming years.” comments a Future Market Insights analyst.
Competitive Analysis
To keep existing position in the course authoring software market, players that operate in it focus on techniques including market initiatives, mergers, and product launches. Some of the major companies like Articulate Global Inc., Brainshark Inc., Easygenerator B.V., Elucidat, iSpring Solutions, Inc., LearnWorlds (CY) Ltd, Lessonly, Inc., SAP Litmos, Adobe Inc. and Instructure Inc. are featured in the report.
Some of recent developments for Course Authoring Software Market are:
- In July 2021, The US startup capital company Insight Partners secured a US$ 32M fundraising round with the Greek e-learning and course production platform LearnWorlds to support its strategy and speed up customer satisfaction initiatives. As part of the investment agreement, Boris Treskunov, the fund’s principal, and Nikitas Koutoupes, the founding director of Insight, will join the management of the e-learning business. LearnWorlds was established in 2014 by Panos Siozos, Fanis Despotakis, and Giorgos Palaigeorgiou. Its goal is to democratize direct-to-consumer online learning and make it simple for those who create educational content to generate money from it.
- In July 2021, Articulate Global, LLC, a SaaS company that provides online learning tools and e-learning authoring apps announced a US$ 1.5 Bn Series A financing round led by General Atlantic, a growth equity firm, and including assets raised by Blackstone Growth (BXG) and ICONIQ Growth. The current fundraising represents the company’s first source of institutional funding, and it values the business at US$ 3.75 Bn, making it one of the biggest Series A rounds ever. Articulate hopes to further speed its expansion and scale internationally with the help of these new collaborations.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Course Authoring Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Global Course Authoring Software Market in terms of Deployment (On-Premises and Cloud-based), and End User (Educational Institutes and Enterprises), across five regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America).
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Market Segments Covered in Course Authoring Software Market Analysis
By Deployment Type:
- On Premises
- Cloud-based
By End-User:
- Educational Institutes
- Enterprises
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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