The Smart Education and Learning Market was valued at USD 22.9 billion in 2019 and is estimated to reach USD 73.5 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 22.5% over the forecast period. The rapid increase in number of connected devices in the education sector, enactment of eLearning solutions, and increasing usage of Artificial Intelligence (AI) and Machine Learning (ML) in smart learning are the significant factors fuelling the growth of the smart learning market.
Enhanced relevance of smart education and learning solutions; growth in need for these solutions from students, employees, and others to become digitally educated; advancement in the connectivity of handheld communication devices; rise in demand for collaboration-based learning are the factors impacting the growth of the global Smart Education and Learning Market. Additionally, in the forthcoming years, boost in volume of virtual schools and development of bring-your-own-device (BYOD) trend are anticipated to provide significant opportunities for market expansion.
Over the forecast period, on the basis of components, the software segment of the Smart Education and Learning Market is estimated to rise at the highest CAGR. Integrated solution and standalone solution are the two classifications of the Smart Education and Learning Market. Learning Management System (LMS)/Learning Content Management System (LCMS), Student Information System (SIS), test and assessment, collaboration, eContent, and others, like content authoring tools, screen capturing tools, and open-source software are included in the standalone solution. Software solutions provides institutions with systematic Enterprise Resource Planning (ERP) systems which aid faculty members develop advanced courses and manage classrooms and schools competently. Virtual classrooms empowering teachers to tackle a large audience without any budget restraint is attributed by online education platforms. Combat to manage complex and distinct Information Technology (IT) solutions spread across the campus is continuously faced by K-12 and higher education institutions.
Due to accessibility of sufficient infrastructure and enhanced adoption of technologies in educational institutions, North America region dominates the global Smart Education and Learning Market in 2017. Moreover, Asia-Pacific is anticipated to account highest growth during the forecast period.
The global smart education and learning market is bifurcated based on component, learning mode, end user, and region. The market is classified into software, services, educational content, and hardware, on the basis of component. Virtual instructor-led training, simulation-based learning, social learning, blended learning, adaptive learning, and collaborative learning are the segments based on learning mode. On the terms of end users, market is divided into academics and corporate. North America, Europe, Asia-Pacific, and LAMEA are the regional classification of market analysis.
Adobe Systems Incorporated, Educomp Solutions Ltd., NIIT Limited, Smart Technologies, Inc., Blackboard, Inc., Ellucian Company L.P., Saba Software, Inc., Unit4, Desire2Learn Corporation Ltd., and Cisco Systems, Inc., are the top players functioning in the global smart education and learning market.
Key Benefits for Stakeholders
• This study includes the analytical depiction of the global smart education and learning market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the financial competency of the industry.
• Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the global smart education and learning industry.
Smart Education and Learning Market Key Segments:
o Learning Management System
o Learning Content Management Systems
o Adaptive Learning Platform
o Assessment Systems
o Training & Certification
o Managed Hosting
• Educational Content
o Audio-Based Content
o Text Content
o Video-based Content
By Learning Mode
• Virtual Instructor-led Training
• Simulation-based Learning
• Social Learning
• Blended Learning
• Adaptive Learning
• Collaborative Learning
By End User
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
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