Smart Learning & Education Market
Smart Learning & Education Market (Component: Hardware, Software, and Services; Delivery Mode: Classroom/Learning Centre-based, Desktop/Mobile-based, and Simulation-based; and End User: K-12, Higher Education, and Professional/Vocational Training) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Knowledge, Competence, Personal Experience Constitute Online Learning During COVID-19 Outbreak
Many schools and educational institutes continue to use smart learning tools, since the COVID-19 outbreak has not completely subsided. Owing to this shift, consumers have adapted to online learning on the long-term basis, which is creating business opportunities for companies in the smart learning & education market. Several startups are planning on investments in launching educational apps to ensure continuity of educational programs.
Online teaching is being met with challenges. Stakeholders in the smart learning & education market need to address deep restructuring of the teaching process and use different digital tools to enhance interaction with students. Knowledge, competence, and personal experience of students are factors to be taken into consideration, while deploying online learning.
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Video Conferencing Apps Help Students Stay Updated About their Course Remotely
The smart learning & education market is projected to expand at an astonishing CAGR of ~24% during the forecast period. Smart learning has been able to overcome challenges of higher education, especially in countries of the Middle East. This teaching reduces the hassles associated with the high cost of transportation, school fees, and cost of health insurance.
Indian education apps are storming the smart learning & education market. E-learning apps such as BYJU’s and Vedantu are gaining prominence in online classrooms, especially during the ongoing coronavirus outbreak. Companies are innovating in video conferencing apps to help students stay updated about their course remotely. App developers are making use of animated videos and other intuitive tools to make learning more engaging in online classrooms.
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Schools in Finland Increase Student Interaction with Latest Learning Tools
Ongoing change in education has triggered the need for new user-centric and sustainable learning environments. Such trends are translating into opportunities for companies in the smart learning & education market to create the availability of new national curriculum and transform the vocational education system. As such, these trends are gaining increased popularity in Finland with the proliferation of digitalization technologies.
Transversal competences, versatile learning environments, and phenomenon-based learning are being highly publicized in Finland. Stakeholders in the smart learning & education market are addressing student needs for enabling the school’s interaction with the surrounding society with the help of latest learning tools such as smart projectors and digital displays.
Camera-based Touch Technology Gaining Prominence in Smart Whiteboards
Interactive whiteboards are acquiring visibility in schools and universities. Manufacturers in the smart learning & education market are integrating these whiteboards with a computer, projector, and whiteboarding software to boost sales. The Centre for Innovation and Excellence in Learning at Vancouver Island University is making the use of smart collaborative learning software for education in whiteboards that accept touch, pen, and even solid object inputs.
The camera-based touch technology is being accommodated in smart whiteboards and interactive displays. Stakeholders in the smart learning & education market are gaining a competitive edge over other companies by introducing proprietary software and firmware in whiteboards that can detect finger and pen contact on the screen.
Smart Projectors Break Away from Outdated Teaching Methods
Compact, portable, and innovative designs in smart projectors are grabbing the attention of education providers. Benq’s smart projectors are storming the smart learning & education market, enabling wireless Internet connectivity, web browsing, and sharing of online teaching material without the need of a laptop or a PC. App accessibility, wireless mirroring, and built-in android systems in smart projectors are anticipated to transform classrooms post coronavirus pandemic.
Smart projectors are eliminating the hassles of conventional projectors that are slow in switching from one device to another, and are difficult for IT department to centrally manage devices. Companies in the smart learning & education market are making projectors that facilitate wireless screen sharing and offer a blended & intuitive learning experience for students.
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Self-paced digital materials such as recorded video clips from professors and remote learning are gaining popularity in vocational education, owing to the coronavirus outbreak. Education for sustainable development is a transformational concept that is encouraging engagement between students and professors via smart classrooms. However, it is potentially challenging for teachers to adopt emerging smart technologies. Hence, companies in the smart learning & education market should increase the availability of user-centric and user-friendly tools to cater the needs of professors new to the technology. Apps catering to competitive exams such as JEE/NEET and Bank PO are gaining popularity in India. Online classes for conceptual understanding, personalized learning, and individual attention are bringing a significant change in the education system.
Smart Learning & Education Market: Overview
- According to a latest research report on the global smart learning & education market published by Transparency Market Research for the historical period 2018–2019 and the forecast period 2020–2030, rise in Internet penetration and smartphone users is anticipated to propel the smart learning & education market during the forecast period. Rising enrollment of learners in online learning platforms has raised demand for smart learning education solutions and services. Additionally, increase in the number of colleges and universities across developing economies has further impacted the demand for smart learning & education.
- As per the World Economic Forum, approximately 1.2 billion children are out of school during the COVID-19 situation, globally. Smart learning & education offers an online classroom that helps students to attend classes effectively and remain coordinated remotely. Global initiatives on a large scale to leverage technology is favoring the smart learning & education market.
- In terms of revenue, the global smart learning & education market is estimated to exceed the value of US$ 984.7 Bn by 2030, expanding at a CAGR of ~24% during the forecast period
Increase in Internet Penetration and Advent of Technology: A Key Driver of Smart Learning & Education Market
- According to the Internet World Stats, there are 4.79 billion Internet users in the world. Rising number of Internet users across the globe has brought tremendous change across all sectors. Therefore, the education sector has transformed traditional-based learning, which is driving the demand for smart learning & education.
- Smart learning & education techniques deliver knowledge with the help of electronic media and resources. The major benefit of smart learning is that it is highly cost-efficient, as it reduces the cost component in the purchase of course materials. All course materials are free in online learning.
- In classrooms throughout the world, the use of smart learning & education solutions is becoming more popular. Therefore, public schools need to make appropriate changes in their educational infrastructure, which, in turn, is likely to fuel the demand for smart learning & education solutions in the upcoming years. Teacher skills are considered a vital element for this reason.
- COVID-19 has triggered the educational sector to transform land-based learning to smart learning & education. The educational sector has merged with various e-learning companies, enabling students to continue their studies without any hindrance. The major benefit of smart learning techniques is that it allows students to attend lectures from anywhere on any device. Secondly, it allows students to record their lectures and it can be used many times.
Hardware Solutions Used in Smart Learning & Education
- The growing concern to minimize the cost of studies has forced governments to increase their investment in digitalizing entire educational institutes
- Some other factors leading to the growth of hardware solutions are the increased efficacy of animated learning, along with versatility in learning. Shortage of trained staff in different schools and colleges across developing countries also encourages students to adopt smart learning & education.
- The most popular hardware resources used in smart learning & education are video conferencing and interactive whiteboards, which are widely used in online learning platforms, as they offer real-time connectivity between students and teachers. Synchronous and interactive virtual classes allow students to be actively involved, creating an atmosphere comparable to a physical classroom.
- Additionally, enhancement in the infrastructure of colleges and schools is expected to result in increasing demand for smart learning & education techniques and tools in the near future. Moreover, all leading players are continuously launching their software solutions, which sustains their position in the market.
Smart Learning & Education Market: Competition Landscape
- Detailed profiles of providers of smart learning & education have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global smart learning & education market are
- Adobe Corporation
- Blackboard, Inc.
- Cisco Systems, Inc.
- Cornerstone OnDemand, Inc.
- D2L Corporation, Dell, Inc.
- EduComp Solutions
- Ellucian Co. LP
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Ellucian Company L.P
- InFocus Corporation
- NewRow, Inc.
- Smart Technologies
- Unit4 N.V.
Smart Learning & Education Market: Key Developments
- Key providers of smart learning & education, such as IBM, Cisco System, Adobe, Inc., and Microsoft Corporation are focusing on the development of smart learning & education solutions, which helps them to gain a competitive position in the market. Moreover, players are also focusing on inorganic growth strategies such as strategic collaborations and mergers & acquisitions with technology partners, which result in expanding their solutions and enable them to remain competitive in the market. Some other key developments in the global smart learning & education market are highlighted below:
- In January 2021, Plural Insights acquired NexTech. The acquisition allows Plural Insights to strengthen its skills. This skill development increases customer engagement for Plural Insights.
- In December 2020, Learning Technologies Group plc (LTG) acquired eThink Education, known as the world's largest Moodle supplier. This acquisition will improve its reputation in the education market and extend its presence in Europe.
- In January 2020, John Wiley & Sons, Inc., a provider of education technology, acquired M Three Corporate Consulting Ltd, to expand its educational service offerings
- In the global smart learning & education market report, we have discussed individual strategies, followed by company profiles of providers of smart learning & education solutions. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global smart learning & education market.
Smart Learning & Education Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global smart learning & education market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the smart learning & education market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the smart learning & education market is expected to progress during the forecast period of 2020-2030.
The report offers intricate dynamics about the different aspects of the smart learning & education market that aids companies operating in the market in making strategic development decisions. TMR’s study elaborates on the significant changes that are highly anticipated to configure the growth of the smart learning & education market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the smart learning & education market, and estimate statistics related to the market progress in terms of value (US$ Bn). The study covers a detailed segmentation of the smart learning & education market, along with country analysis, key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the smart learning & education market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Smart Learning & Education Market
The report provides detailed information about the smart learning & education market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the smart learning & education market, so as to help them make successful strategies and take target-driven decisions.
- Which regions will continue to remain the most profitable regional markets for smart learning & education market players?
- Which factors will induce a change in demand for smart learning & education during the assessment period?
- How will changing trends impact the smart learning & education market?
- How will COVID-19 impact the smart learning & education market?
- How can market players capture low-hanging opportunities in the smart learning & education market in developed regions?
- Which companies are leading the smart learning & education market?
- What are the winning strategies of stakeholders in the smart learning & education market to upscale their position in this landscape?
- What will be the Y-o-Y growth of the smart learning & education market between 2020 and 2030?
- What are the winning imperatives of market frontrunners in the smart learning & education market?
Research Methodology – Smart Learning & Education Market
The research methodology adopted by analysts to compile the smart learning & education market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the smart learning & education market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine sources, analysts have emphasized the changing scenario of the smart learning & education market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the smart learning & education market.
Smart Learning & Education Market – Segmentation
TMR’s research study assesses the smart learning & education market on the basis of component, delivery mode, end user, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the smart learning & education market.