Smart Lecture Capture System Industry Growth Rate, Business Opportunities and Emerging Technologies- Forecast to 2027 | Coronavirus Effects
Market Highlights
The smart lecture capture system market 2020 can reach close to USD 10
billion by 2023-end, asserts Market Research Future (MRFR). The market growth
seems promising as it can achieve a growth rate of 26% between 2017 and 2023
(appraisal period). We will provide COVID-19 impact analysis with the report, offering
detailed market developments following the coronavirus disease outbreak.
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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Segmentation:
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.
Regional Study
The smart lecture capture system market share is spread across North
America, Asia Pacific/APAC, Europe, and RoW or Rest of the World.
The North American market for smart lecture capture system has emerged
as the most profitable, thanks to the high uptake of handheld devices, frequent
technological development and the fast consumption of advanced and new
technologies. The vast and well-developed educational infrastructure including
laptops, e-books, and more across the United States as well as Canada also adds
to the industry momentum in the region.
Europe is another highly lucrative market, considering the massive
spending on the modernization of the education industry in France, Italy and
more. The advancements in AV/Audio Visual and the rising integration of IT to
enhance the education system and ultimately the learning experience can be
favorable for the European market.
The APAC market promises attractive opportunities to the players since
various emerging countries here are investing considerably in the development
of the education sector. The smart lecture capture system industry in the
region also benefits from the surge in online education, mounting number of
distance learning courses, and the strong government support for digital
education.
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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