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Type of Market
Type of Market
The Slingbit courseware and LMS support online and blended math instruction at the intermediate and senior high school grades. With a growing number of schools adopting the BYOD model, there is a growing demand for LMSs that provide innovative instructional and assessment tools while preserving the teacher’s agency in the classroom. Slingbit is slated to move into the higher education market once it has established itself at the high school level.
The Slingbit courseware and LMS support online and blended math instruction at the intermediate and senior high school grades. With a growing number of schools adopting the BYOD model, there is a growing demand for LMSs that provide innovative instructional and assessment tools while preserving the teacher’s agency in the classroom. Slingbit is slated to move into the higher education market once it has established itself at the high school level.
Types of Markets
Types of Markets
Slingbit provides both educational content as well as a learning platform. Slingbit provides online quizzes, lessons and activities that are either accessed through the Slingbit LMS or from a third party site. All courseware is fully customizable and assessments continually adapt to the evolving learning needs of each student. Throughout the learning process, Slingbit offers students and teachers suggested next-steps on how to best support student learning. Slingbit provides real-time insight into each student’s level of understanding, all the while motivating students with virtual awards and certificates. Slingbit provides teachers and parents immediate feedback on their child’s strengths and weaknesses, classroom performance and progress toward their personalized learning goal.
Who is the Buyer?
Slingbit offers both a basic and executive subscriptions for both teachers and students. The basic subscription is absolutely free but does not allow the teachers to create or customize content or receive any recommended next steps for their students. Likewise, under the basic plan, students can complete learning activities but will not have access to many features such as the secure assessment feature.
The executive subscriptions provide user with access to all the features of Slingbit. These subscriptions are sold individually at $12.95 (CND) per month while a class set of 30 licenses cost $390 per year. Teachers that consistently contribute highly valuable Singbit learning activities are eligible for a reduced annual licensing fee for their class.
Who is the Buyer?
Slingbit offers both a basic and executive subscriptions for both teachers and students. The basic subscription is absolutely free but does not allow the teachers to create or customize content or receive any recommended next steps for their students. Likewise, under the basic plan, students can complete learning activities but will not have access to many features such as the secure assessment feature.
The executive subscriptions provide user with access to all the features of Slingbit. These subscriptions are sold individually at $12.95 (CND) per month while a class set of 30 licenses cost $390 per year. Teachers that consistently contribute highly valuable Singbit learning activities are eligible for a reduced annual licensing fee for their class.
Global Markets
Slingbit aims to secure a foothold within Canadian, American, Australian, UK and New Zealand high school education. Since Slingbit is strictly offered in Enlish and relies heavily on the access to connect devices, the global market of this LMS has been limited to English speaking countries that have already invested heavily into online learning. Once established within Western Anglophone markets, Slingbit is slated to expand into other emerging markets including Germany, Spain, France, Singapore and India.
Market Status
The LMS market was valued at valued at $4,396 million in 2016, and is estimated to reach $15,391 million by 2023 according to the Allied Market Research with the greatest LMS growth predicted throughout Asia-Pacific markets (Sahoo, 2017). Factors favouring market growth worldwide include increased favorability towards flexible learning, low cost, improved accessibility and effectiveness of learning management systems, the increased number of internet users and a growing number of connected mobile devices.(Costello, 2017).
Competition
Slingbit courseware is either used within the Slingbit LMS or integrated within third-party platforms such as Google Classroom, Canvas, Moodle and Blackboard. Users are able to sign-in to Slingbit directly or through their Google+ or Facebook accounts. These features significantly reduce frustrations affiliated with students forgetting login information and generally improve the overall user experience for both teacher and student.
Costello, H. (2017, June 15). Global E-Learning Market 2017 to Boom $275.10 Billion Value by 2022 at a CAGR of 7.5% – Orbis Research. Retrieved from https://www.reuters.com/brandfeatures/venture-capital/article?id=11353
Sahoo, S (2017, November). Learning Management System (LMS) Market by Deployment (Cloud and On-Premise), User Type (Academics and Enterprises), and Industry Vertical (Government & Education, Retail, Healthcare, IT & Telecom, Manufacturing, Hospitality, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023- Allied Market Research. Retrieved from https://www.alliedmarketresearch.com/learning-management-systems-market