The global smart education and learning market size is anticipated to reach USD 665.12 billion by the end of 2027, owing to the growing advancement in learning platforms. Fortune Business Insights™ in their report titled, “Smart Education and Learning“ Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Learning Mode (Collaborative Learning, Virtual Instructor-Led Training (VLIT), Simulation-Based Learning, Social Learning, Blended Learning), By End-User (Corporate, Academic, and Government) and Regional Forecast, 2019-2027,” presents a detailed analysis of the market with its prime growth trajectories. As per this report, the market was worth USD 166.30 billion in 2018. However, it is expected to witness a remarkable growth by exhibiting a CAGR of 19.5% during the forecast period between 2019 to 2027.
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The report throws light on the competitive landscape of the smart education and learning market with a list of significant players and the key strategies adopted by them to stay put in the competition. The report also mentions major growth trajectories such as drivers, restraints, challenges, and opportunities. It further presents extensive details of all the segments present in the market, along with base figures, forecast figures, and CAGRs. The report is available for sale on the company website.
North America to Dominate Backed by Increasing Penetration of Smartphones
Geographically, the global smart education and learning market is segregated into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. These regions are further classified nation wise. In 2018, North America had generated a revenue of USD 59.42 billion which is further anticipated to rise to USD 240.44 billion by the end of 2027. This is attributable to the stability in economic growth, rapid adoption of technological developments, and the rising penetration of smartphones across the region.
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Key segments within the market
1. By Component
- Interactive White Boards
- Interactive Displays
- Interactive Tables
- Interactive Projectors
- Student Response Systems
- Learning Management System (LMS)
- Learning Content Management System
- Adaptive Learning Platform
- Assessment Systems
- Implementation and Integration
- Training and Consultant
- Support and Maintenance
2. By Learning Mode
- Collaborative Learning
- Virtual Instructor-Led Training (VLIT)
- Simulation-Based Learning
- Social Learning
- Blended Learning
3. By End-User
- Large Enterprises
- Higher Degree
4. By Region
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Norway, Netherlands, and the Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, and the Rest of Asia Pacific)
- Middle East & Asfrica (South Africa, GCC and the Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
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Key Industry Developments:
May 2019 – A China-based company, NetDragon Websoft, developed about 265,000 pop-up classrooms for learners in Egypt. These container-shaped classrooms can be set up within a couple of hours as they are similar to building blocks. They are designed especially for smart education.
June 2019 – A non-profit organization named Advancement Via Individual Determination (AVID) and SMART Technologies ULC collaborated to create the best classroom experiences with the help of technological solutions. These solutions will have a positive impact on the educational outcomes and empower the schools positively. The companies are further planning to improve their educational outcomes with the introduction of digital engagement, literacy, empowerment, collaboration, and inquiry.
Some of the key players present in the smart education and learning market include:
- Ebix, Inc.
- Cisco Systems, Inc.
- D2L Corporation.
- Ellucian Company L.P.
- PROMETHEAN LIMITED
- Saba Software
- SMART Technologies ULC
- Blackboard, Inc.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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