Smart Lecture Capture System Industry Key Developments, Company Overview, Competitive Landscape, Demand and Trends by Forecast to 2027 | Coronavirus Effects
The global smart lecture capture system market is on an upward growth trajectory and is expected to capture a stellar CAGR of 26% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. The rapid evolution of technology has greatly impacted the education sector, and the way knowledge is imparted. Education institutions have come way forward in deploying the latest technologies to the advantage of its students, and smart lecture capture system allows slicing and dicing of archived lecture recordings for later review.
Key Drivers and Main Challenges
The COVID-19 outbreak has had a devastating effect on the world economy. Although MNCs and businesses worldwide have been quick to adapt to the lockdown due to the pandemic, it has been quite taxing for the education sector. With the large-scale disruption across the globe, concerned authorities and government agencies are trying to reinvent the overall education system, which has boosted the importance of smart lectures and in turn, smart lecture capture systems. It is apparent that the traditional ways of conducting lectures will not help in these challenging times.
SARS-CoV-2 has given rise to various opportunities, in terms of the growing need to improve the education infrastructure. A number of EdTech vendors are seeing the novel coronavirus as an opportunity to encourage schools and colleges to come on the digital platform. Smart education system has become the latest norm, with various tertiary institutions, workforce training and schools adopting the latest technologies such as smart lecture capture system for collaborative technologies, better learning programs, online learning sources and digital learning resource, to name a few. Many of the key firms are launching new apps and services that boost the appeal of smart lecture capture systems across the education industry. For instance, in June 2020, Sonic Foundry launched its latest app called Mediasite Mosiac that helps monitor and capture recordings from Microsoft Teams, Zoom, and other web and video conference systems coupled with create video communications.
The surge in collaborations between educational content vendors and hardware firms, technological evolvements, rising popularity of distance education and the rise in government initiatives have also been favorable for the global market. The market is also bolstered by the mounting use of handheld devices and the surge in corporate training for employees worldwide. The increasing efforts given by governments to modify the education industry also supports the smart lecture capture system market to a large extent.
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The smart lecture capture system industry has been studied extensively by segmenting it into component, deployment, service type as well as end-users.
The segments depending on component include hardware as well as software.
The key deployment-based market sections are cloud and on-premise.
With respect to the service type, the primary segments are maintenance, professional and training.
The main end-users profiled in the study are corporate, educational institutes, and more.
The global smart lecture capture system market spans across the regions of North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest market for smart lecture capture system. Increasing connectivity of handheld devices, technological advancement and early adoption of latest technologies supports the growth of the North America market. Moreover, the presence of adequate educational infrastructure such as e-books, laptops, etc., in the region also is a driving factor. Europe is also a profitable market since it is investing heavily in improving its educational sector. Asia Pacific market holds lucrative growth opportunities as the developing countries in the region are making a substantial investment in modernizing their education sector.
Renowned Market Firms
Renowned market firms acknowledged in the MRFR study are UbiCast (France), Echo360, Inc. (US), Sonic Foundry, Inc. (US), McGraw-Hill Education, Inc. (US), Cisco Systems Inc. (US), VBrick (US), Crestron Electronics, Inc. (US), Telestream, LLC (US), Panopto (US), Kaltura, Inc. (US), to mention a few.
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Global Smart Lecture Capture System Market, By Component (Hardware, Software), By Deployment (On-premises, Cloud), By Service Type (Training, Professional), By End-users (Educational Institutes, Corporate) – Forecast 2023
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