Lecture Capture System Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component [Hardware, Software (On Premise and Cloud), and Services (Integration & Maintenance Services and Training Services)] and End User (Educational Institutions a

Lecture Capture System Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component [Hardware, Software (On Premise and Cloud), and Services (Integration & Maintenance Services and Training Services)] and End User (Educational Institutions and Corporates)

The lecture capture system market is expected to grow from US$ 7,135.18 million in 2022 to US$ 36,862.47 million by 2028; it is expected to grow at a CAGR of 31.5% from 2022 to 2028.

Digital education is a process of learning by using digital technologies and tools. It is a learning model that helps students to learn from anywhere in their own space and comfort. Therefore, governments of various countries have initiated programs and digital education guidelines to trigger literacy rates by encouraging people to pursue education. In India, every state and union territory has introduced steps to expand digital literacy among students by making smartphones and tablets more accessible. In May 2020, the Government of India announced a comprehensive program to unify digital education with various learning programs. The objective aimed to provide approximately 250 Million students in India with better access to e-learning. The government has also introduced a national platform for learners under its “One Nation, One Digital Platform” initiative. Further, governments of technologically advanced countries, such as the US, are also devising strategies to promote the growth of digital education. The US Department of Education and the Office of Educational Technology are working on updating and expanding the National Educational Technology Plan (NETP) of the country. The objective of the NETP is to ensure the relevance and usefulness of digital learning platforms for students and learners. It also focuses on encouraging the adoption of new education technology developments in schools and districts across the country to improve education systems in terms of equity and opportunity for all students. Such initiatives to promote the growth of online education are propelling the lecture capture system market growth.

Various companies offer hardware and software solutions that are broadly accepted in the education sector. The rising adoption of e-learning techniques and growing emphasis on efficient learning are boosting the demand for lecture capture systems. Further, the education sector has adopted various learning techniques such as interactive content, video-based learning, and game-based learning and strategies such as the integration of AI in e-learning platforms. The unexpected surge of learners in the e-learning industry has been creating the demand for lecture capture systems in the market for the past few years. Thus, the growing preference for online learning portals and the increasing trend for adopting advanced technologies have increased the demand for lecture capture systems, which is expected to fuel the lecture capture system market growth over the coming years across the region.

Moreover, the education sector gained substantial market revenue compared to other industries during the COVID-19 pandemic. Due to the nationwide lockdown across North America, various private and public educational institutions adopted e-learning and conducted online classes and exams remotely. The discontinuation of in-class sessions increased the need for online learning platforms, which boosted the demand for lecture capture systems in North America. Further, numerous companies are offering cost-effective and more efficient hardware and software solutions for content management systems, learning management systems, lecture recording systems, and AI-based advanced recording systems. For instance, in March 2022, Panopto announced the integration of Panopto with Microsoft Teams. This integration enables users to securely search, play, share, and manage their Panopto videos and meeting recordings entirely within Microsoft Teams. Thus, such advancements in lecture capture systems are creating immense opportunities for the vendors in the lecture capture system market, which is likely to fuel the market growth over the forecast period.

The lecture capture system market is segmented on the basis of component, end user, and geography. Based on component, the lecture capture system market is segmented into hardware, software, and services. The software segment is further bifurcated into on premise and cloud. The services segment is further bifurcated into integration & maintenance services and training services. Based on end user, the lecture capture system market is segmented into educational institutions and corporates.

Based on geography, the lecture capture system market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, and the Rest of Europe), Asia Pacific (Australia, Japan, South Korea, India, China, and the Rest of APAC), the MEA (Saudi Araba, the UAE, South Africa, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).

The overall lecture capture system market has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the lecture capture system market. The process also obtains an overview and forecast for the lecture capture system market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, external consultants, valuation experts, research analysts, and key opinion leaders, specializing in the lecture capture system market.

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