Analysis of Collaboration-based Learning Market in U.S. from 2010-2015
Posted Nov 14 2012 9:21am
The collaboration-based learning market in the United States reached $4.2 billion in revenues in 2010. The estimated growth rate is around 5.7 percent, so revenues in learning products and services are expected to reach around $5.5 billion by 2015.
A recent demand-side analysis conducted on this growing web conferencing and collaboration market forecasts collaboration-based learning revenue for the next five years via eight buyer segments. These are:
· Federal government
· State and local governments
· Pre-K12 academic
· Higher education
· Non-profit organizations and associations
Each of the above segments has its own unique buying behavior, and certain products and services are in greater demand in some of these segments. The buying segments that saw the highest growth rates are given below:
1. Higher education at 14.9 percent
2. Non-profits and associations at 21.7 percent
3. Healthcare at 23.3 percent
Over the last five forecast periods, the growth rates in all the above-mentioned segments have leveled to an extent. However, this indicates that the market is maturing, and it is not lack of demand as some may assume.
Web Conferencing Meeting and Collaboration-based learning is a product in a normal product lifecycle. It is entering the commoditization phase of its lifecycle where it will gain popularity and vendors will face certain pricing pressures. In this phase, price plays a huge role since buyers will be shopping for it.
According to the study, collaboration-based learning products and services will have the largest reach in terms of number of users among all technology-based learning products and services. In fact, the mass-market adoption of these products and services has already started among all buyer segments. This adoption can be attributed to a number of different social, technical, and economic factors. One of the most crucial factors at play here is user experience.
A natural affinity exists between a virtual collaborative-learning experiences such as online presentation and a traditional classroom learning experience with a teacher at the helm. Unlike self-paced products like certain eLearning courseware and CBT, a virtual collaborative service offers a real-time experience that closely resembles that of a traditional classroom experience. This transition from a physical to virtual classroom comes naturally for both teachers and students because the context remains the same, which is that of a real presenter interacting in real time with students.
With collaborative-learning tools along with web conferencing equipment, such as RHUBTurboMeeting 6-in-1 web conferencing appliances, the teacher can prepare and deliver live-streaming web events in a way that is very similar to delivering for classroom lectures. In terms of economics, a virtual lecture offers much higher return on investment. This makes it far more viable for commercial training and educational suppliers that are currently struggling with the costs involved in brick and mortar classrooms.