|By PR Newswire||
|September 4, 2014 11:30 AM EDT||
MOUNTAIN VIEW, Calif., Sept. 4, 2014 /PRNewswire/ -- Modern lecture capture solutions (LCS) with rich recording, composition, playback and search features are transforming the global teaching and learning landscape. Equipped with products ranging from sophisticated whole-room systems to desktop-based utilities, LCS vendors are poised to enter practically every educational institution. Lured by the favorable outlook, new local LCS vendors, as well as established computing equipment and enterprise video technology firms, are foraying into the market.
A recent analysis from Frost & Sullivan, Analysis of the Global Lecture Capture Solutions (LCS) Market, finds that the market earned revenues of $162.0 million in 2013 and estimates this to reach $592.2 million in 2019 at a compound annual growth rate of 24.1 percent. The study covers LCS hardware, software and software as a service segments.
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"The global demand for LCS is on the rise, with colleges and schools alike recognizing that digital learning is a must-have feature for modern education," said Frost & Sullivan Digital Media Industry Manager Avni Rambhia. "Once the value of anytime/anywhere learning becomes clear, and massive open online classrooms (MOOC) and inverted classrooms gain favor among educators, LCS will become an indispensable tool for the education industry."
Despite the compelling value proposition of LCS, market penetration experienced a low due to the limited sales capacity of vendors and concerns surrounding scalability and value among customers. Adoption rates are now accelerating in the flagship North American market, as well as the global market, with vendors broadening their product portfolios and boosting sales and distribution capacities through acquisitions and expansions.
Similarly, challenges such as low awareness among educators, limited teacher training, complex purchasing processes, particularly in the K-12 segment, as well as budget restraints that were lengthening the sales cycles and curtailing investments in LCS, have been easing. Market dynamics have improved with the emergence of cloud-based solutions and desktop-based clients, in addition to the realization within the education sector that state-of-the-art learning experiences are vital to remain competitive.
"Training educators on the effective use of new LCS, as well as capitalizing on the savvy video skills and enthusiasm of the millennial generation to consume videos at anytime and anywhere, will be important for continued growth," stated Rambhia. "Entering global distributor and system integration partnerships will also help participants target the largely-untapped North American market and emerging opportunities in other regions."
Analysis of the Global Lecture Capture Solutions (LCS) Market is part of the Digital Media (http://www.digitalmedia.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Big Data Analytics Market, Analysis of the Global Online Video Platforms Market, The Global Embedded Computing Ecosystem Market, and Global Media and Entertainment Solutions for the Cloud. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
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Analysis of the Global Lecture Capture Solutions (LCS) Market
Corporate Communications – North America
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