The global market for recording technologies that can capture lectures and lessons has been forecast to expand by another third over the next six or seven years.
According to analysis by US-based ReportsAndData, the lecture capture systems market is expected to hit $39.2 billion (£29.3 billion) by 2028 — up from $4 billion in 2020 and reflecting a compounded annual growth rate (CAGR) of 33.2% in the period.
“The vital factors driving the growth of this market are the rising demand for distance education and focus of governments on initiatives for promoting digital education,” the research company said in the official release.
“Use of lecture capture systems helps the current instructional exercises, regardless of whether they are up close and personal, completely on the web, or in mixed learning conditions.”
According to ReportsAndData, lecture capture technologies can be particularly helpful when “monotonous” study of complex information is required, or for learning formulae.
Key lecture capture systems technology vendors include TechSmith, Panopto, YuJa, McGraw-Hill Education, and UbiCast, the company said.
Hardware solutions are predicted to have the largest market share during the forecast period, with drivers of growth including the increasing penetration of smartphones and tablets among employees and students. Corporate and cloud deployments are also expected to grow.
“Management of recorded lectures is one of the crucial challenges faced by lecture capture system providers. Cloud-based deployment models mitigate this challenge by offering flexibility, scalability, affordability, operational efficiency, and low cost,” according to ReportsAndData.
“A one-time recorded lecture can be used to train multiple employees, which lowers the overall cost of training incurred by an organisation.”
Advantages can go beyond ‘in the moment’ recording — pre-recorded lectures can also be combined into libraries that can be referred to in future, helping transfer knowledge and experience learning from one generation of employees to another.
For example, VirginMedia has used TechSmith SnagIt to record videos incorporating knowledge from 150 staff members who were about to retire.
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