Smart Lecture Capture System Market – Global Industry Growth Drivers, Regional Outlook 2019 2023 | COVID-19 Impact
Smart Lecture Capture System Market – Global Industry Growth Drivers, Regional Outlook 2019 2023 | COVID-19 Impact
Market Highlights
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.
The smart lecture capture system market has been gaining widespread adoption among higher educational institutes which is the primary driver of the market. Various schools, tertiary institutions, and workforce training institutions are deploying smart lecture capture system in an effort to improve the education system which is devoid of the limitations of time and place. The emergence and popularity of e-learning and distance education play a significant role in the growth of the global smart lecture capture. In the view of the growing development of e-learning, lack of content is a significant problem. Smart learning capture addresses this problem and records lectures for future reference at less cost. The advent of the cloud has been instrumental in shaping the growth of the global smart lecture capture system. With cloud computing, lectures can be recorded and saved in databases. Growing collaboration between hardware vendors and educational content providers plays a key role in the market growth. Surging demand by corporations for the training of employees and the penetration of handheld devices are other driving factors. Government initiatives for modernizing the education sector are also a factor impacting the market growth positively. However, storage issues and various regulations and policies are hampering the growth of the global smart lecture capture system market. These factors will help the global smart lecture capture system market achieve a valuation of USD 10 Billion by the end of 2023.
Segmentation:
The global smart lecture capture system market trends have been segmented based on component, deployment, service type, and end-users. By component, the market has been segmented into hardware and software. By deployment, the market has been segmented into on-premise and cloud. By service type, the market has been segmented into training, maintenance and professional. By end-users, the market has been segmented into educational institutes, corporate, and others.
Regional Analysis
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.
Competitive Landscape
The prominent players in the global smart lecture capture system market include Panopto (US), Echo360, Inc. (US), Sonic Foundry, Inc. (US), UbiCast (France), McGraw-Hill Education, Inc. (US), UbiCast (France), Kaltura, Inc. (US), Crestron Electronics, Inc. (US), VBrick (US), UbiCast (France), Cisco Systems, Inc. (US), and Telestream, LLC (US).
Industry Updates
In July 2018, Panopto, a leader in video platform provider for business and universities, announced the release of a new forthcoming a new media capture appliance. The video platform is Panopto-certified, and Panopto is collaborating with Matrox, a global manufacturer of reliable, high-quality encoder cards, appliances, and software for the same. The video platform supports video recording and live streaming which can be used for imparting smart education by universities and educational institutions.
In September 2018, Sonic Foundry, Inc., a global leader in video management and creation solution announced that it has been chosen by Iqra University for its state-of-the-art smart classrooms campuses.