Smart Learning Market is expected to grow at a CAGR of 19.53% from 2020-2026
Published | 06 March 2020
According to BlueWeave
Consulting, The global market of smart learning has reached USD 23.22 billion
in 2019 and estimated to reach worth USD 80.89 Billion in 2026 and anticipated
to grow with CAGR of 19.53% during the forecast period from 2020-2026. The key
factors which drive the growth of the smart learning market include the
adoption of eLearning solutions, the proliferation of connected devices in the
education sector and the growing use of Machine Learning (ML) and Artificial
Intelligence (AI) in smart learning.
Smart learning solutions
focus on the application of mobile tools and the mobility of learners. The
rising demand for solutions are creating digital education for students,
working professionals are increasing the value of smart education and learning
solutions. An increasing demand for interactive learning; improving the
connectivity of handheld communication devices are driving the global smart
learning market growth during the forecast period. Moreover, the growth in
several virtual schools and the emergence of the bring-your-own-device (BYOD)
trend is anticipated to fuel the global smart learning market. It is expected
that creative approaches such as gamification, massive Open Online Courses (MOOCs),
micro-learning, and adaptive learning that improve the overall learning process
would boost the smart learning industry over the forecast period across the
globe. In developing economies, the inability to embrace technology and lack of
awareness of smart learning is expected to present a challenge to the
development of the global smart learning industry. Furthermore, insufficient
support from the consumer segment is projected to hinder the growth of the
global smart learning and education sector.
10-18
Years age group segment in the global smart learning market estimated to have
the fastest growth during the forecast horizon
The 10-18 Years age group
market segment is dominating the age segment in the smart learning market
during the forecast period of 2026 owing to significant adoption of smart
learning solutions in academic training programs. Social media platforms'
growing popularity for addressing questions and issues and sharing experiences
is also propelling this segment's growth. Segment 30-45 years is expected to
experience the fastest growth rate during the forecast period. The growth rate
experienced by the segment from 30-45 years is the product of rising the
production and demand of smart corporate education for training and
professional development purposes in different organizations in a different
sector.
The
increasing government initiatives enhancing smart learning technology across
global region
Government authorities in
various countries have taken proactive steps to accelerate the adoption of
smart learning systems, which in turn are expected to deliver lucrative market
opportunities. The U.S. government actively promotes the use of multimedia,
e-textbooks, and other interactive smart content to improve the learning
experience, especially in the K-12 category.
The
rising technology up-gradation is the key growth driving factor
The continued emphasis on
technology development will help the smart learning market to expand. Different
educational technology providers on the smart class market provide creative
solutions and products to help students use modern technologies effectively to
improve learning efficiency. This learning and education platforms offer
digital content connectivity on various screens, computers, and accessories.
Asia-Pacific
is expected to dominate the global smart learning market during the anticipated
period.
Geographically, the global
smart learning market is bifurcated into North America, Asia Pacific, Europe,
Middle East, Africa & Latin America. Asia-Pacific has the largest share and
expected to dominate the market during the forecast period of 2026 as
Asia-Pacific has the largest consumer and exporter of education service. North
America plays a huge role in the development of technology, which helps in the
adoption of new smart learning solutions across the major end-user segments. An
increase in the number of mobile learning applications has been witnessed in
the region. The North American Education Technology (EdTech) industry is
growing significantly with abundant investments. This market has brought in
many programs designed to help with elementary math and English skills. Various
students and educators in the region are adopting mobile apps that enable them
to access information at any time and any place.
Browse Detailed Table of
Contents, “Smart Learning Market By
Component (Hardware, Software (Integrated Solution and Standalone Solution),
and Services), By Learning Type (Synchronous Learning and Asynchronous
Learning), By Age (5-10 Years, 10-18 Years, 19-29 Years, 30-45 Years, Above 45
Years), By End User (Academic and Enterprise), By Region (North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend
Analysis, Competitive Market Share & Forecast, 2016-26”
AT
Smart
learning Market: Competitive Landscape
The major market players in
the smart learning market are Blackboard, IBM, Samsung, Alphabet, Adobe, Cisco,
Saba Software, Oracle, SAP, Microsoft, Smart Technologies, Cornerstone
OnDemand, BenQ, Huawei, CrossKnowledge, D2L, McGraw-Hill, Ellucian, Pearson,
and Other Prominent Players are expanding their presence in the market by
implementing various innovations and technology.
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