According to TechSci Research report, the Global Smart Education and Learning Market was valued at USD69.48 billion in 2020 and is expected to grow at a CAGR of 17.01% during the forecast period owing to the increased adoption of artificial intelligence (AI), augmented reality & virtual reality, and increased enrollment in massive open online courses across the globe. Favorable government regulations and acceptance of gamification strategy in online teaching are further propelling growth in the market.
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The Global Smart Education and Learning Market can be segmented based on component, learning type, learning mode, end user industry, deployment mode, type of content and region. Based on component, the market can be segmented into hardware, software and services. The hardware segment is further segmented into interactive whiteboards, interactive displays and others including tablets, smart notebooks, etc. The software segment is further bifurcated into integrated solutions and standalone solutions. The services segment is further bifurcated into professional and managed services. The hardware component segment held a market share of 54.09% in the year 2020 in the global market. In terms of learning type, the market can be bifurcated into synchronous and asynchronous. The asynchronous segment is estimated to grow at a rapid pace with a CAGR of 18.60% in the forecast period primarily because of the flexibility of accessing the modules at any time suitable to the user. Based on learning mode, the market can be segmented into virtual instructor-led training, adaptive learning, collaborative learning, blended learning, simulation based-training, social learning and others including radio-based learning, mobile learning, etc. The virtual instructor-led training mode is estimated to hold a share of 22.30% in the year 2020 in the market, however adaptive learning mode is expected to grow at a higher rate with a CAGR of 17.74% in the forecast period. In terms of end users, the market can be segmented into academics and enterprises. The academics segment dominated the market with a share of 79.83% in the year 2020. Based on deployment mode, the market can be segmented into on premises and cloud. The on- premises segment held 51.27% share of the market in the year 2020, however the cloud segment is estimated to grow at a higher CAGR of 18.26% in the forecast period. Based on type of content, the market is segmented into visual based content, text content and audio-based content. The visual based content dominated the market with a share of 51.32% in the year 2020 and is expected to dominate the market in the forecast period as well.
Samsung Electronics Co. Ltd., Alphabet Inc., Oracle Corporation, Pearson Plc, Microsoft Corporation, IBM Corporation, Panasonic Corporation, SAP SE, LG Electronics Incorporation., Blackboard Inc. are among the leading players operating in the Global Smart Education and Learning Market. Companies operating in the market are using strategies such as product advancement through the addition of new features, mergers, and collaborations to boost their share.
“Smart education represents learning in the digital era. It offers the users the opportunity to learn in the environment they are comfortable in. The governments across the globe are taking initiatives to promote the smart education and learning. Asia Pacific region is expected to be the fastest growing region for smart education and learning primarily due to increased adoption of advanced technologies and the increasing usage of internet in the region. Various governments initiatives such as the e-school bag project in China, PM eVidya initiative in India, etc have propelled the growth of the smart learning in the region. Also, due to the COVID-19 pandemic, the governments across the globe were forced to shutdown the educational institutes and facilities and were compelled to switch to the online learning mode which resulted in the expansion of the smart education and learning methods and technologies”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.