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Adaptive Learning Software Market Size Boosting The Growth Worldwide | DreamBox Learning Inc., Smart Sparrow Pty Ltd.
Educational institutions utilize this software to provide customized resources and activities based on students' unique learning needs. The market is primarily driven by increasing spending on EdTech and the growing emphasis on personalized learning.
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The rising EdTech spending is contributing to the growth of the Global Adaptive Learning Software Market. For example, the India EdTech industry is projected to grow from USD 750 million in 2020 to USD 2862.3 million by 2024 and further to USD 4000.7 million by 2025, according to estimates from the India Brand Equity Foundation (IBEF).
Favorable initiatives from government authorities and the emergence of blended learning technology are also creating lucrative growth prospects for the market. However, concerns over data privacy, limited awareness, and low ICT expenditure in developing regions hinder the market growth throughout the forecast period.
The key regions considered for the Global Adaptive Learning Software Market study are Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America currently dominates the market in terms of revenue, driven by the presence of leading market players and increasing adoption of adaptive learning solutions by universities and higher educational institutions in the region.
On the other hand, Asia Pacific is expected to grow with the highest compound annual growth rate (CAGR) during the forecast period, primarily due to the expanding EdTech organizations in countries such as India, Japan, South Korea, and Singapore.
Some of the major market players in the Global Adaptive Learning Software Market include DreamBox Learning Inc., Smart Sparrow Pty Ltd., D2l Corporation, Knewton, New Leaf Technologies, Realizeit, Fishtree Inc., Scootpad Corporation, Pearson Education, and Kidaptive Inc.
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In terms of recent developments in the market, in January 2023, Thomson Digital, an India-based company, announced its entry into the EdTech industry with the launch of QI is an assessment-led platform for the preparation of JEE and NEET, which are competitive entrance exams in India.
The Global Adaptive Learning Software Market Report covers historical data from 2019-2021 and provides a revenue forecast, company rankings, competitive landscape analysis, growth factors, and trends. The report segments the market based on application, end-user, and region. The regional scope includes North America, Europe, Asia Pacific, Latin America, and the Rest of the World. The report also offers customization options, including free report customization equivalent to up to 8 analyst's working hours, allowing additions or alterations to country, regional, and segment scope.
The objective of the study is to define market sizes of different segments and countries in recent years and forecast their values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry and provides insights into driving factors, challenges, potential opportunities, competitive landscape, and product offerings of key players.
The detailed segments and sub-segments of the market based on application include Student Collaboration, Analytics and Insight, E-Learning Authoring, Integrated Learning Management System, and Others. The market is further categorized by end-users into K-12, Higher Education, and Corporate.
Please note that the provided information is based on the given excerpt, and the actual report may contain more comprehensive and detailed information.
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