Smart Lecture Capture System Market Grows as COVID-19 Boosts Digitization in Education Sector | Smart Lecture Capture System Market Size, Share and Industry Forecast

Smart Lecture Capture System Market Research Report- Forecast till 2023

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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