Rising Government Initiatives to Flourish ASEAN Smart Education and Learning Market
Published On : Nov 27, 2018 | Category : IT & Telecom
Technology has transformed almost all the sectors across the globe. Talking about the education sector, which has also incorporated advanced technology under digitizing education, which is driven by increasing internet penetration, rising use of internet, smartphones, and tablets. Governments across the globe are putting huge efforts to impart and enhance education in their people in which smart education is likely to play an important role. Moreover, countries like Singapore, Thailand, and Malaysia are using advanced education tools by introducing virtual reality infused classrooms and cloud-based smart education and learning solutions.
Transparency Market Research (TMR) expects the ASEAN smart education and learning market to touch a US$88.97 bn by the end of 2020 while rising at a remarkable growth rate of 19.7% during the forecast period 2016-2020. In 2015, the ASEAN smart education and learning market earned a US$36.84 bn.
What some of the key factors that need to be taken in consideration for this market to grow significantly?
One of the major factor is high cost of smart education and learning tools, which are not easily affordable by various middle and lower middle class families. As many tools involve state-of-art technology that are highly expensive and unaffordable by various small-scale industries and small learning centers. In addition, installation of essential smart tools and smart learning facility that requires high installation cost could also hamper market’s growth. Availability of online education courses from renowned institutes that further confuses the students to choose which course is best suitable for them. Contrary to all these points, rising government initiatives to introduce smart education and leaning tools in various institutions and developmental policies are expected to minimize some of the above-mentioned restraining factors. In addition to that, increasing number of players in this market that are coming up innovative strategies and offer better services are also expected to drive the demand in this market.
Which countries play a significant role in enhancing smart education and learning market in ASEAN region?
Countries like Indonesia, Malaysia, Singapore, Thailand, Philippines, Vietnam, and other countries including Laos, Myanmar (Burma), Brunei, and Cambodia are the key regions contributing to the growth of the ASEAN smart education and learning market. Among these regions, Malaysia plays the most crucial role as it held 36.5% of share in this market in 2015. Massive penetration of smartphones and highly developed state of the information and communication technology (ICT) are the key regions that have driven the Malaysia market for smart education and learning. In addition, growing use of technology in the form of desktops, smartphones, and tablets and rising government initiatives to promote the use of these technologies is also likely to provide a fillip to the ASEAN smart education and learning market.
On the other hand, Indonesia is also expected to grow at a significant growth rate after the launch of the ASEAN Economic Community (AEC) that has further increased the demand for English language courses in the region. Moreover, increasing government initiatives towards delivering digitized education has further augmented the demand in this market. In the coming years, both Malaysia and Indonesia are expected to rise at 20.3% CAGR and benefitting the market’s growth.