About Blockchain in Education
The global blockchain in the education market is expected to grow at a slow pace during the forecast period, according to the AMA study. Rising demand for educational certificate verification and rising demand for cryptocurrency in the education sector for different operations are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The players in the market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. Additionally, players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Blockchain in Education market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BlockCerts (United Kingdom), Disciplina Group, LLC (United States), Gilgamesh (United Kingdom), IBM (United States), Learning Machine Technologies (United States), Education Ecosystem (United Kingdom), odem.io (Switzerland), Education Ecosystem (United States), Oracle (United States) and RecordsKeeper (Switzerland) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Blockchain in Education market by Type (Public Blockchain, Private Blockchain and Hybrid Blockchain), Application (Credentials Verification, Digital Rights Protection, Expanding MOOCs, Open Source Universities and School Assets Tracking & Management) and Region.
On the basis of geography, the market of Blockchain in Education has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. University will boost the Blockchain in Education market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Implementation of Virtual Currency
Market Growth Drivers:
Increasing Adoption of Cryptocurrency in the Education Sector and Increasing Demand for Educational Certificate Verification Propelled by Rising Number of Students & Candidates Globally
Challenges:
Short-term Challenges Due to Reduced Operations Across Different Industries & Economic Crisis Caused by COVID-19 Pandemic Across the World
Restraints:
Cybersecurity Issues and Virtual Currency Banned in Some Specific Regions
Opportunities:
Opportunities in the Asia Pacific Region
Blockchain technology is being explored as a means to securely issue, store, and verify digital credentials and certificates in education. This includes academic degrees, diplomas, certifications, and other qualifications. Blockchain can provide a decentralized and tamper-proof system for verifying the authenticity and integrity of these credentials
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Blockchain in Education Industry
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the blockchain in education market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like shutting down of educational sector, scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
Key Target Audience
Service Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.