Competency-based Education Spending Market: Introduction
- Competency-based education spending focuses on combining transparent and intentional approaches to design a curriculum with an academic model. This helps students acquire and demonstrate their skills and knowledge by engaging in learning activities, exercise, and experiences that are aligned with clear outcomes.
- Furthermore, competency-based education helps to identify the diverse education system, so as to study innovative funding methodologies of school finance from other countries and states across the world.
- The COVID-19 outbreak has been the primary catalyst for the growth and adoption of competency-based education spending. Governments of various countries across the world have imposed lockdowns to curb the spread of the disease. This has prompted schools to provide an engaging and flexible learning environment, wherein progression and development is based on mastery of open learning competencies or objectives. Which can be used to validate student learning, in learning topic or course during this pandemic outbreak. This, in turn, is expected to boost the global competency-based education spending market.
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Global Competency-based Education Spending Market: Market Dynamics
- Increase in investments by prominent vendors for the development of learning management systems (LMS), student information management systems (SIMS), student information system (SIS), enterprise resources planning (ERP), change and configuration management system (CCMS), learning analytics systems, content authoring tools, (LCMS) learning content management system, and education data security tools is anticipated to propel the competency-based education spending market
- Increase in focus on alternative assessments such as portfolios instead of examinations in schools and institutions is also likely to fuel the competency-based education spending market
- High cost of courses owing to the absence of a fixed time frame is estimated to restrain the global competency-based education spending market in the near future
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North America to Account for Major Share of Global Competency-based Education Spending Market
- In terms of region, the global competency-based education spending market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa
- North America is expected to lead the global competency-based education spending market during the forecast period, due to the presence of well-established players that offer competency-based education solutions and systems for transforming education systems in order to ensure high-quality learning for all students in the U.S. and Canada
- The competency-based education spending market in Europe is anticipated to expand in the near future, led by effective planning and launch of high quality personalized competency-based education solutions and systems in the region
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Global Competency-based Education Spending Market: Competitive Landscape
Key Players Operating in Global Competency-based Education Spending Market
Companies operating in the global competency-based education spending market are increasingly investing in research and development activities to develop new and innovative techniques to provide competency-based education spending solutions. The global competency-based education spending market is highly fragmented, with the presence of numerous manufacturers in developed and developing regions. Key players operating in the global competency-based education spending market include:
- Blackboard Inc.
- D2L Corporation.
- Ellucian Company L.P.
- Instructure, Inc.
- Anubavam LLC.
- BNED LoudCloud, LLC
- Cengage Learning, Inc.
- Epiphany Learning LLC
- John Wiley & Sons, Inc.
- Motivis Learning Systems