Renaissance Learning

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Renaissance Learning

The global e-learning is expected to grow at a compound annual growth rate (CAGR) of 8% from $200 billion in 2019 to $375 billion in 2026. The market is estimated to reach $315 billion in 2025. Twenty-six thousand districts and schools in the United States use Accelerated Reader, while more than 30,000 schools in the United States use Accelerated Math.

E-Learning Market Analysis

Current Market Size and Growth

  • The global e-learning market will increase from $200 billion in 2019 to reach $375 billion by 2026.
  • According to Global Market Insights, the market is growing at a CAGR of 8% over the period between 2020 and 2026. This growth is driven by the increased adoption of new technologies, including artificial intelligence (AI), machine learning, AR & VR devices, big data, wearable devices, cloud computing. Another factor driving growth is the increase in global internet penetration.
  • The market is segmented by the type of providers into service providers and content providers. In 2019, content providers, including SweetRush, Infopro, and Kineo, accounted for 60% of the global market. These providers "share content on a varied range of topics by collaborating with domain experts that help them to develop the learning content. They focus on offering specific and customized content as per the end-user requirements."
  • In terms of application, the market is segmented into academic (K-12, higher education, and vocational training), corporate (SMBs and large enterprises), and government. The academic segment is anticipated to grow by $72.41 billion between 2020 and 2024.

Projected Market Size

  • The global e-learning market is growing at a CAGR of 8% to reach $375 billion by 2026. Another report from GlobeNewswire found that the market will reach $315 billion by 2025.
  • Using this reverse CAGR calculator, we calculated the projected market size for 2020 by assuming that the industry is growing at the same CAGR between 2019 and 2026. We put these entries in the calculator:
    • Starting value is 200,000,000,000 (2019)
    • CAGR is 8%
    • Number of periods is 1 (years), which is the result of the subtraction of 2020 from 2019.
    • Based on these figures, the calculator states that the 2020 market size would be around $216,000,000,000 or $216 billion.
  • Using the same calculation, we calculated the projected market size over the next years:
    • 2021: $233.28 billion
    • 2022: $251.94 billion
    • 2023: $272.1 billion
    • 2024: $293.87 billion

COVID-19 Impact

  • Before the pandemic, the market was already experiencing high demand, leading to high growth. "Whether it is language apps, virtual tutoring, video conferencing tools, or online learning software, there has been a significant surge in usage since COVID-19."
  • Due to schools’ shut down, 1.2 billion children are out of schools, causing an emerging need for remote education and online learning.
  • Moreover, the pandemic of COVID-19 "has paved opportunities for the growth of the e-learning segment." The global lockdown will boost the demand for e-learning platforms.
  • The market will experience steady growth due to the pandemic. This growth could reach 14%. However, the demand will decline slightly in the post-lockdown period in 2020.
  • E-learning platforms are offering free access to their directories, products, and services to keep up with the growing demand.

Renaissance Learning Products

Accelerated Reader

Overview

  • Value proposition: "Research-driven reading practice. Student-driven.Teacher-guided."
  • Accelerated Reader helps teachers to "motivate, monitor, and manage" their students’ independent reading practice. Teachers will be able to guide their students, "while engaging quizzes and activities help hone students’ reading skills with authentic practice-encouraging growth."
  • Renaissance Learning outlines the user experience of Accelerated Reader’s users as follows:
    • Guide: Teachers guide students to set personalized goals that help them stay focused. Meanwhile, teachers monitor their students’ progress, providing feedback to keep them on track.
    • Engage: To engage students, Accelerated Reader recommends "just-right" books based on each student’s reading level and interests. Accelerated Reader offers students more than 200,000 titles to select from.
    • Practice: Students start to build developed reading skills, where reading "transforms into high-quality reading practice that fuels growth: Reading quizzes monitor comprehension, while literacy skills and vocabulary quizzes extend student learning and build skills mastery."
    • Grow: Teachers will receive detailed reports providing insights into students’ progress.
  • A full how-to-use guide is available here.

Targeted audience

  • Accelerated Reader is targeting students from kindergarten to 12th grade (K-12) in the United States.
  • School administrators could also use the platform, helping them to create a culture of reading among their students.
  • Similarly, teachers can guide and monitor their students using Accelerated Reader.
  • Additionally, "families can access real-time information on their child’s reading progress, sign up to receive emails about quizzes, and use Renaissance Home ConnectTM to make reading a regular conversation outside of school."

Pricing and Costs

How Widespread The Product is

  • Twenty-six thousand districts and schools in the United States use Accelerated Reader.
  • In one school year, students in the United States read nearly 324 million books with Accelerated Reader.

Differentiation and Competitive Advantage


Accelerated Math

Overview

Targeted Audience

Pricing and Costs

How Widespread The Product is

  • More than 30,000 schools in the United States use Accelerated Math, according to Renaissance Learning.

Differentiation and Competitive Advantage

  • Accelerated Math is research-baked. Ninety-nine research studies highlighted and supported the effectiveness of the program. Out of these 99 studies, 89 were independent studies.
  • Renaissance Accelerated Math is " substantially more effective and less costly than alternative interventions."
  • Moreover, students using Accelerated Math are "nearly twice as likely to meet benchmarks for college and career readiness standards, according to a study of data from 2.7 million students. The study also shows students who use Accelerated Math grow significantly more than students who do not."
  • Accelerated Math offers free resources, including ebooks, special reports, blog posts, videos, among others.
  • Multiple education organizations recognized and endorsed Accelerated Math, such as the National Center on Intensive Intervention (NCII) and The Council of Administrators of Special Education.


MyON

Overview

  • Value proposition: "Magic Inside. Metrics Included."
  • myON ensures "all students can engage in the frequent, high-quality reading practice that fuels literacy growth with unlimited, 24/7 access to thousands of enhanced digital books and age-appropriate news articles."
  • Renaissance Learning outlines the user experience of myON’s users as follows:
    • Choose: Students have access to "thousands of popular, authentic digital books from award-winning publishers, plus timely and relevant news articles."
    • Engage: To engage students, myON offers rich multimedia and personalized reading recommendations.
    • Learn: Teachers will learn more about their students' writing and reading skills, thanks to literacy tools.
    • Grow: By learning more from the reports generated by myON, teachers will be able to "boost motivation, strengthen differentiated instruction, and celebrate achievements."
  • A full how-to-use guide is available here.

Targeted Audience

  • myON is targeting pre-kindergarten kids and students from kindergarten to 12th grade.
  • Different levels include elementary (K-4), middle school (Gr 5-8), and high school (Gr 9-12).

Pricing and Costs

  • To purchase myON annual license, schools should pay $2,995, while small schools and grade levels should pay $1,440. Additional costs apply for professional development and third-party publishers.
  • However, prices range between $5,000 and $7,000 for a school license.

How Widespread The Product is

Differentiation and Competitive Advantage

  • Since its acquisition by Renaissance Learning, myON incorporated new assessments and analytics, including personalized reading practice and quizzes for 200,000 titles.
  • myON provides unlimited access to more than 13,000 enhanced digital books on any device.
  • myON "meets the criteria for a wide range of funding sources." Renaissance’s expert funding team helps schools and teachers in finding/applying for funding to implement Accelerated Reader.
  • Moreover, "titles are dynamically matched to each individual student's interests, grade, and Lexile® reading level. myON Reader includes a healthy mix of fiction and nonfiction content from Capstone Publishers — the leading educational and library publisher of the last 25 years — as well as more than 50 third-party publishers."

Freckle Education

Overview

Targeted Audience

  • Freckle is targeting students from kindergarten to 12th grade.
  • Different levels include elementary (K-4), middle school (Gr 5-8), and high school (Gr 9-12).

Pricing and Costs

How Widespread The Product is

Differentiation and Competitive Advantage

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