The global smart education and learning market size is anticipated to reach USD 665.12 billion by the end of 2026, 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, 2019-2026,” 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 2026.
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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.
Adoption of Internet for Educational Purposes Will Boost Market Growth
The rapid adoption of smartphones and other smart gadgets for educational purposes and the easy availability of high-speed internet are two of the prime factors boosting the smart education and learning market growth. Besides this, the adoption of e-learning and rising government support for promoting online education would also help in increasing the overall smart education and learning market size in the forecast period. E-learning is a cost-efficient and more convenient way of learning as it provides training and tutorials from experts, improved courses, certification programs, and others.
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 2026. 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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Smart Education Courses Through Applications and Programs to Intensify Competition Among Players
Companies are introducing new learning solutions and applications of various courses for children belonging to different educational boards in order to gain high smart education and learning market revenue in the forecast period. Learning applications will help students to master over tough concepts through visual and personalized learning programs. Programs and solutions, such as Blackboard Instructor App, Home Learning Program, GO, Smart STEM, HealthSet, and others would not only intensify the market competition but would also help in attracting high revenues during the forecast period.
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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