Smart whiteboards and technologies enhance remote learning, reliable net connectivity and smartphones key enablers for adoption.
Smart learning & education market to clock an impressive CAGR of ~24% during 2020-2030, versatile learning environments picks up pace with user-centric tools.
Smart Learning & Education Market: Broad Contours
Smart learning & education has paved way to personalized e-learning tools. Smart learning in education isn’t a new trend, but educators have been at it for quite some time now. Learning management systems for corporate learning has contributed greatly to the market growth. Surprisingly, traditional learning was thrown out of gear amid Covid-19.
Children and adults with variety of learning needs showed proclivity, albeit to varying degrees, toward using smart learning platforms to stay on the course of learning. Solutions and services for online learning platforms proliferated in just few months, churning out incredible avenues for companies and institutes in the smart learning & education market.
Rapid adoption of new technologies that enable professors and student break away from traditional paradigm, such as smart projectors, are unlocking new opportunities for players in the smart learning & education market. Further, in economies where remote learning has emerged as a better option, such as in the Middle East, demands have soared. On the back of these factors, the smart learning and education market is expected to clock CAGR of ~24% during 2020-2030.
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Key Findings of Smart Learning & Education Market Study
- Educators Adopt Smart Learning Tools to Enrich Online Learning: Digital learning technologies have made rapid penetration in education, notably vocational learning. The smart learning & education market has made some promising strides on the back of this technology trend. Smart learning tools are becoming an integral part of sustainable learning environments. An instance is the growing traction of self-paced learning among learners and students. Education delivery institutes and universities have increasingly emphasized on the adoption of smart learning platforms. As a result, professors are leveraging whiteboards that are equipped with camera technologies to make learning more interactive.
- Internet Penetration Key Accelerant: The initial acceleration for breaking away from the traditional mold in delivering learning materials had come from the presence of reliable and fast networks and internet technologies. High-speed internet has enabled educators connect several students from across the world and make learning more conversational. The demand in the smart learning and education market has been spurred by growing preference of learning materials for students looking for competitive exams, such as for JEE/NEET.
A great deal of the growth impetus has come from institutes who offer continuing education remotely. Many of these organizations in the education sectors have been early adopters of products in smart learning and education market. Teachers have been markedly exhorted to switch to smart learning tools. The drive for personalized learning tools will open up new horizons.
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Smart Learning & Education Market: Key Drivers
- Focus on delivering sustainable learning environments is a key driver for smart learning
- Need for continuity of educational programs during Covid-19 offered a huge push to adoption of online learning tools
- Online tutoring platform companies spend sizably on tapping into demand from emerging economies
Smart Learning & Education Market: Key Geographies with Promising Avenues
- North America has remained as a remarkably lucrative geography in the smart learning & education market
- The dazzling pace of digitalization in education sector, supported by respective governments, has fueled revenue generation in the U.S.
- Asia Pacific is emerging as a region with incredible avenues
- A key accelerant has come from the massive adoption of mobile devices particularly smartphones
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Smart Learning & Education Market: Key Participants
Over the years, the smart learning and education market has been enriched by the proliferating numbers of propriety software and firmware. Vedantu and BYJU’s have been pioneers in tapping this avenue in emerging markets. Some of the well-entrenched players in the market are:
- Unit4 N.V.
- Smart Technologies
- InFocus Corporation
- Oracle Corporation
- EduComp Solutions
- IBM Corporation
- Ellucian Co. LP
- Cisco Systems, Inc.
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