Newark, June 29, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 190 billion smart education and learning market will reach USD 1037.3 billion by 2032. Implementing cloud platforms, learning applications, and software are all part of smart education and learning technologies. With visuals and movies, this technology offers clever and individualised learning solutions. Growing smart education and learning market expansion prospects are being produced by rising research and development spending on smart education and learning technology. The smart education and learning market will continue to develop as handheld device connectivity increases. The need for smart education and learning will expand due to increased cooperation between educational content suppliers and hardware vendors and an increase in mobile learning applications.
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North America to account for the largest market size during the forecast period.
North America is expected to have the essential smart education and learning market share. A large customer base and the presence of reputable ICT solution providers have facilitated this region's expansion. This regional expansion can be attributed to cutting-edge technology like Massive Open Online Courses (MOOCs), microlearning, gamification, and customised literacy initiatives.
The services segment dominated the market with the most significant revenue of USD 81.7 billion.
The services segment dominated the market with the most significant revenue of USD 81.7 billion. It is because there are an increasing number of smart learning and education portals that offer better-quality educational content in the form of study guides, exam preparation materials, question banks, and instructional videos. For instance, the Western Cape Government in South Africa offers instructors, and students access to an online learning environment with a choice of resources in both English and Afrikaans. The National Cloud Platform for Educational Resources and Public Service, another service provided by the People's Republic of China's Ministry of Education, allows elementary and secondary school students free access to educational resources.
The academics segment dominated the market with the most significant revenue of USD 110.2 billion.
The academics segment dominated the market with the most significant revenue of USD 110.2 billion due to the increasing acceptance of digital learning methods in colleges and institutions. Smart education and learning are becoming more accessible as smartphones, tablets, and other IoT-enabled electronic gadgets are widely used. The global smart education and learning market is also expanding due to beneficial policies of governments in growing economies like India that aim to provide laptops to students in schools and colleges in underprivileged areas.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 190 Billion |
| Market Size in 2032 | USD 1037.3 Billion |
| CAGR | 18.5% |
| No. of Pages in Report | 237 |
| Segments covered | Component, End-User |
| Drivers | Rising Usage of E-Learning |
| Opportunities | Technological Advancements |
| Restraints | Lack of Skilled Staff |
Market Dynamics:
Drivers: Rising Acceptance
Demand for web and mobile-based learning platforms across academic and business institutions, including schools and universities, is anticipated to propel market expansion during the forecast period. The adoption of e-learning software and solutions has expanded due to their benefits, including lower costs for traditionally related educational modules, higher income per educated person, better productivity, and others.
Restraint: Safety Issues
Growing privacy and security, concerns will also slow the expansion of the smart education and learning market.
Opportunity: Rising Educational Sector
Due to the growing demand for mobile devices and digital education worldwide, there has been a significant change in learning paradigms in the global education sector. The widespread adoption of mobile learning has altered how conventional educational business models operate. Due to the simplicity with which mobile learning can be incorporated into existing business and educational models in developing nations like China and India, it has become more widely used in businesses and educational institutions.
Challenge: High Cost
The high price of these technologies, particularly in developing economies, restrains market expansion.
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Some of the major players operating in the smart education and learning market are:
● Adobe Systems Incorporated
● Educomp Solutions Ltd.
● NIIT Limited
● Smart Technologies, Inc.
● Blackboard, Inc.
● Ellucian Company L.P.
● Saba Software, Inc.
● Unit4
● Desire2Learn Corporation Ltd.
● Cisco Systems, Inc.
Key Segments cover in the market:
By Component:
● Software
● Educational Content
● Services
● Hardware
By End-User:
● Academics
● Corporate
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About the report:
The global smart education and learning market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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