Report : North America Lecture Capture System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware, Software, and Services) and End User (Educational Institutions and Corporates)
At 30.3% CAGR, the North America Lecture Capture System Market is speculated to be worth US$ 14,840.83 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America lecture capture system market was valued at US$ 3,026.74 million in 2022 and is expected to reach US$ 14,840.83 million by 2028, registering a CAGR of 30.3% from 2022 to 2028. High popularity of distance learning and government initiatives for promoting digital education are the critical factors attributed to the North America lecture capture system market expansion.
Massive open online courses (MOOCs) are free web-based distance learning programs that are designed for many students residing in geographically dispersed locations. There has been a notable surge in the number of students and learners, especially those applying for MOOCs, in the last decade. According to the Institute of International Education (IIE), almost nine out of ten higher education institutions used a blended learning model in 2020 and more than a third of college and university students took at least one online course in 2018. Traditional learning universities recorded a rise in the number of hybrid and distance-only students in the last decade. In 2020, this trend regained attention amid the COVID-19 pandemic. A limited number of online-degree providers dominate the market for distance education. A rise in open-access distance learning programs is driving the North America lecture capture system market. The improving standards of online education quality, the rise of a new category of educational competitors, and the entry of digital education start-ups in the distance education space are a few more factors contributing to the demand for lecture capture systems. Google, in partnership with Coursera, offers courses in fields such as user experience design and data analytics. This has further added to the credibility of online courses, thereby driving the attention of students toward distance courses. Companies operating in the lecture capture system market are taking efforts to provide a cost-effective, high-quality degree program learning experience to students. So, growing popularity of distance learning is expected to drive the North America lecture capture system market growth.
On the contrary, bandwidth and streaming issues hurdles the growth of North America lecture capture system market.
Based on component, the North America lecture capture system market is segmented into hardware, software, and services. The hardware segment held 59.6% market share in 2022, amassing US$ 1,803.47 million. It is projected to garner US$ 8,676.20 million by 2028 to expand at 29.9% CAGR during 2022–2028. The software segment is further divided into on premise and cloud. Similarly, the services segment is further bifurcated into integration and maintenance services and training services.
Based on end user, the North America lecture capture system market is bifurcated into educational institutions and corporates. The educational institutions segment held 78.2% market share in 2022, amassing US$ 2,367.61 million. It is projected to garner US$ 11,409.66 million by 2028 to expand at 30.0% CAGR during 2022–2028.
Based on country, the North America lecture capture system market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.3% market share in 2022. It was assessed at US$ 2,339.57 million in 2022 and is likely to hit US$ 11,060.87 million by 2028, exhibiting a CAGR of 29.6% during the forecast period.
Key players dominating the North America lecture capture system market are Cisco Systems, Inc.; Echo360; Epiphan Systems Inc.; Haivision Systems Inc; Kaltura, Inc.; Legrand AV Inc.; Panasonic Holdings Corporation; TechSmith Corporation; and YuJa Inc. among others.
- In 2021, Cisco Systems, Inc. announced a suite of new Webex features including background noise suppression and the addition of polls and quizzes to make meetings more interactive.
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