Global Smart Education and Learning Market Size, Status and Forecast 2022

Smart Education and Learning Market 

The global Smart Education and Learning market size is projected to reach USD 730500 Million by 2027, from USD 281680 Million in 2020, at a CAGR of 14.1% during 2021-2027. Key drivers of the smart education and learning market include the rising importance of e-learning modules in corporate and academic institutions. The favorable government support and technological advancements in smart education and e-learning will spur the smart education and learning market.

The rise in smartphone penetration and the increasing number of mobile phone applications will augment the market growth during the forecast period. Security and the high cost of implementation will hinder the market expansion during the broadcasted period. However,  the growing virtual schools and BYOD culture will bolster the smart education and learning market in the coming years.

Trends Influencing the Global Smart Education and Learning Market

The rapid adoption of e-learning

E-learning has revolutionized the learning space in corporate organizations and educational institutions. Companies no longer need to invest in costly training programs for upskilling their employees. Online training can be done in shorter periods of time and provided effectively even if the employees are scattered around the globe. This increases Return On Investment( ROI) for the organization. Moreover, educational institutions are able to cater to the personal demands of each student through a remote-based approach. It leads to rapid scalability, less cost, and better learning outcomes. This in turn will spur the growth of the smart education and learning market in the subsequent years. 

Rapid technological innovations

The era of smart learning is here with rapid technological changes. Virtual reality headsets could increase the motivation to learn in a truly immersive learning environment. In addition to it, Augmented Reality could create a computer-generated image of a user’s real-world view complete with sensory segments like graphics, video, sounds, etc. Furthermore, big data analytics and machine learning algorithms can offer customized monitoring of a student’s past performance and recommend educational stuff based on that.  Wearable devices used in the body as implants or accessories could boost online learning simulations to the next level. These exciting possibilities along with government initiatives for faster expansion will bolster the growth of the smart education and learning market during the subsequent years. 

Booming smartphone use

The rapid growth of mobile devices worldwide and ease of internet access have shifted learners towards smartphone applications for knowledge purposes. The quick student-teacher collaboration, gamification, and AI-powered chatbots enable faster doubt clearing and increase the ability of students to grasp concepts. Learners can effectively upgrade their skills anytime, anywhere, and on any device which increases convenience and addresses key demographic challenges. The cost is reduced drastically due to no additional investments in educational infrastructure. These factors will thereby spur the growth of the smart education and learning market during the review period. 

Huge initial investment

e-Learning provides flexible knowledge transfer in a fast-paced manner. However, there are multiple hidden costs associated with online learning. The initial content creation process is exhausting. In addition to it, investing in good Learning Management software(LMS) systems is a must. Then there are up-gradation fees, licensing, data storage issues, and security concerns. Online data is prone to hacking and plagiarism. These factors will hinder the demand for the smart education and learning market in the coming years.

BYOD culture

The Bring Your Own Device culture gained momentum when covid 19 struck and everything went remote. Corporates, schools, and colleges shifted to virtual models for continuing their operations. The trend of bringing your own devices reduces the costs of organizations and people can quickly log into social media or their personalized websites for learning new things. The additional technological training is avoided which saves resources and time. This in turn will push the smart education and learning market forward in the coming decades.

By Type

• Hardware
• Software
• Services

By Application

• Academic
• Corporate
• Others

Regional Analysis

The significant regions that are studied in the research report encompass North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa. In this section of the report, the specialists have explored various areas that are contributing to the development and can present lucrative growth prospects for the manufacturers in the forthcoming years. The report also provides region-wise and country-wise sales and revenue forecast data for the period 2021-2027.

Key Companies

• Adobe Systems Incorporated
• Blackboard
• Educomp Solutions
• Cisco Systems
• Mcgraw-Hill Education
• Niit
• Pearson PLC
• Desire2learn Corporation
• Samsung Electronics
• Sum Total Systems
• Smart Technologies
• Ellucian Company
• Tata Interactive Systems
• Promethean
• Saba Software.

Scope of Smart Education and Learning Market Report