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Source: Research and Markets

Smart Learning Market Worth $56.5 Billion by 2024 - Proliferation of Connected Devices in the Education Sector Drives Growth

Dublin, Feb. 05, 2020 (GLOBE NEWSWIRE) -- The "Smart Learning Market by Component (Hardware, Software (Integrated Solution and Standalone Solution), and Services), Learning Type (Synchronous Learning and Asynchronous Learning), End User (Academic and Enterprise), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global smart learning market size is expected to grow from USD 23,214 million in 2019 to USD 56,519 million by 2024, at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period of 2019-2024.

The major factors driving the growth of the smart learning market include the proliferation of connected devices in the education sector, adoption of eLearning solutions, and growing use of Artificial Intelligence (AI) and Machine Learning (ML) in smart learning.

Software segment to grow at the highest CAGR during the forecast period

Based on components, the software segment of the smart learning market is projected to grow at the highest CAGR during the forecast period. The smart learning software market is categorized into integrated solutions and standalone solutions. The standalone solutions include Learning Management System (LMS)/Learning Content Management System (LCMS), Student Information System (SIS), test and assessment, collaboration, eContent, and others, such as content authoring tools, screen capturing tools, and open-source software.

Software solutions offer institutions with well-organized Enterprise Resource Planning (ERP) systems that help faculty members build enhanced courses and manage classrooms and schools proficiently. Online education platforms create virtual classrooms, enabling teachers to manage a large audience without any budget constraint. K-12 and higher education institutions constantly struggle to administer complex and contrasting Information Technology (IT) solutions scattered across the campus.

Asynchronous learning segment to record a higher market share in 2019

The asynchronous learning segment among learning type is projected to lead the smart learning market during the forecast period. Asynchronous learning can be carried out online as well as offline. It involves the coursework to be delivered by web, email, or message boards posted in online forums. In this type of leaning, learners cannot put forth their doubts in real-time.

With asynchronous learning, learners cannot receive immediate feedback from their fellow learners or tutors. Learners can be self-paced, which is not possible with the synchronous learning type. It provides benefits, such as message boards, discussion groups, and self-paced groups. Message boards help students put up their questions and doubts on a central board/forum or comment on the answers.

Enterprise segment to grow at a higher CAGR during the forecast period

Organizations and institutions in business domains, apart from the education sector, have been classified as enterprises in the report. Enterprise users include organizations catering to various verticals, such as retail; government; healthcare; and Banking, Financial Services and Insurance (BFSI).

Corporate users implement these solutions as a tool to train and assess employees for providing various instructions and suggestions. Real-time mass notification solutions help enterprise management deploy faster communication among its employees about new policies and other instructions. This segment is further classified into SMEs and large enterprises based on the number of employees in the organization.

North America to record the highest market share in smart learning market in 2019

North America plays a huge role in the development of technology, which helps in the adoption of new smart learning solutions across the major end-user segments. A significant increase in the number of mobile learning applications has been witnessed in the region. According to an article published by Edweek Market Brief in February 2019, spending on educational technology till date exhibits to be more than USD 13 billion in the US alone.

The North America Education Technology (EdTech) industry is growing significantly with abundant investments. In 2017, investments in EdTech products were more than USD 9.5 billion. This market has brought in many programs designed to help with elementary math and English skills. Various students and educators in the region are adopting mobile apps that enable them to access information at any time and any place.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Market in the Asia-Pacific, By Component and Country
4.3 Smart Learning Market: Major Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Proliferation of Connected Devices in the Education Sector
5.2.1.2 Adoption of Elearning Solutions
5.2.1.3 Growing use of AI and ML in Smart Learning
5.2.2 Restraints
5.2.2.1 Increasing Cyberattacks on Educational Institutes and Enterprises to Raise Data Security and Privacy Concerns
5.2.3 Opportunities
5.2.3.1 Potential Growth Opportunities for System Integrators
5.2.3.2 Increasing Spending on the Education Sector
5.2.4 Challenges
5.2.4.1 High Cost of Producing Elearning Content
5.2.4.2 Inability to Manage Real-Time and Unstructured Data
5.3 Regulatory Implications
5.3.1 Introduction
5.3.2 Right to Education
5.3.3 National Science Education Standards
5.3.4 International Standard Classification of Education
5.3.5 European Network for Quality Assurance in Higher Education
5.3.6 Australian Education Act
5.3.7 Education Services for Overseas Students Act
5.3.8 Fundamental Law of Education
5.3.9 Compulsory Education Law of the People's Republic of China
5.3.10 South African Schools Act, No. 84 of 1996
5.3.11 the Education Act 2011
5.3.12 Every Student Succeeds Act
5.3.13 Fund for Maintenance and Development of the Fundamental Education and Valorization of Teaching
5.4 Use Cases
5.4.1 Use Case 1: Docebo
5.4.2 Use Case 2: G-Cube
5.4.3 Use Case 3: Saba Software
5.4.4 Use Case 4: Cisco
5.4.5 Use Case 5: IBM
5.4.6 Use Case 6: Google
5.4.7 Use Case 7: Cornerstone
5.4.8 Use Case 8: Blackboard
5.4.9 Use Case 9: Instructure
5.4.10 Use Case 10: Disprz

6 Smart Learning Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Interactive Displays
6.2.1.1 Interactive Displays Increase Learner Engagement, Inspire Students, and Encourage Enthusiasm for Learning
6.2.2 Interactive Projectors
6.2.2.1 Interactive Projectors Offer Benefits That Improve Cognitive Learning
6.2.3 Others
6.3 Software
6.3.1 Integrated Solution
6.3.1.1 Convenience of Scaling Up and Smooth Communication to Drive the Market of Integrated Solution
6.3.2 Standalone Solution
6.3.2.1 Learning Management System/Learning Content Management System
6.3.2.1.1 Learning Management System/Learning Content Management System Solutions Offer Holistic Learning Experience By Providing Econtent, Collaboration, Course Management, Test and Assessment, and Performance Management
6.3.2.2 Student Information System
6.3.2.2.1 Student Information System Helps Manage Large Data and Provides Constant Smooth Flow of Information Across Users
6.3.2.3 Test and Assessment
6.3.2.3.1 Test and Assessment Tools Help Understand Potential Areas of Improvement
6.3.2.4 Collaboration
6.3.2.4.1 Collaboration Tools Help Create Virtual Classrooms and Elearning Environment
6.3.2.5 Econtent
6.3.2.5.1 Mobile Devices and Integration of Digital Classroom Facilities to Drive the Econtent Demand
6.3.2.6 Others
6.4 Services
6.4.1 Consulting
6.4.1.1 Need for Technical Expertise in Latin America and MEA Regions to Drive the Demand for Consulting Services
6.4.2 Implementation
6.4.2.1 Implementation Services to Offer Significant Revenue Growth Opportunities in APAC
6.4.3 Support and Maintenance
6.4.3.1 Growing Demand for Smart Learning Solutions to Fuel the Demand for Support and Maintenance Services

7 Smart Learning Market, By Learning Type
7.1 Introduction
7.2 Synchronous Learning
7.2.1 Demand for Instant Real-Time Interaction With Tutors to Drive the Synchronous Learning Model
7.3 Asynchronous Learning
7.3.1 Convenience of Time and Flexible Access to Econtent to Drive The Asynchronous Learning Model

8 Smart Learning Market, By End User
8.1 Introduction
8.2 Academic
8.2.1 K-12
8.2.1.1 Student Engagement Through Interactive Devices to Drive the K-12 Segment
8.2.2 Higher Education
8.2.2.1 Ease of Learning Through LMS to Drive the Higher Education Segment
8.3 Enterprises
8.3.1 Small and Medium-Sized Enterprises
8.3.1.1 Rapid Digitization and Need to Adopt Latest Trends to Drive the Smart Learning Market Among SMES
8.3.2 Large Enterprises
8.3.2.1 Benefits, Such as Employee Management, Training, and Test and Assessment, to Drive the Market Among Large Enterprises

9 Smart Learning Market, By Region
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Government Initiatives and Investments in the Education Sector to Drive the US Market
9.2.2 Canada
9.2.2.1 Adoption of Digital Technologies to Drive the Market in Canada
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Presence of Well-Established Academic Institutions and Their Adoption of Smart Learning Solutions
9.3.2 Germany
9.3.2.1 Adoption of Lms and Learning Analytics to Increase Digital Learning Solutions
9.3.3 France
9.3.3.1 Presence of Large Vendors to Drive the US Market
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Increasing Focus on Adopting Advance Technologies in the Education Industry
9.4.2 Japan
9.4.2.1 Early Adoption of the Smart Learning Environment
9.4.3 Australia and New Zealand
9.4.3.1 Increasing Need to Promote the use of Technology Across Verticals
9.4.4 Rest of Asia Pacific
9.5 Middle East and Africa
9.5.1 United Arab Emirates
9.5.1.1 Mobile Penetration and Mobile Learning to Drive the UAE Market Growth
9.5.2 Saudi Arabia
9.5.2.1 Growing Focus on Learner Needs Using Technological Advancements
9.5.3 Rest of Middle East and Africa
9.6 Latin America
9.6.1 Brazil
9.6.1.1 Strong Economy and It Infrastructure to Drive the Market in Brazil
9.6.2 Mexico
9.6.2.1 the Need to Increase Educational Performance and Attainment in Compulsory Education
9.6.3 Rest of Latin America

10 Competitive Landscape
10.1 Overview
10.2 Competitive Scenario
10.2.1 Partnerships
10.2.2 New Product Launches
10.2.3 Business Expansion
10.2.4 Acquisition

11 Company Profiles
11.1 Introduction
11.2 Blackboard
11.3 IBM
11.4 Samsung
11.5 SMART Technologies
11.6 Adobe
11.7 Saba Software
11.8 Oracle
11.9 SAP
11.10 Microsoft
11.11 Cornerstone OnDemand
11.12 BenQ
11.13 Huawei
11.14 D2L
11.15 Newrow
11.16 Pearson
11.17 McGraw-Hill
11.18 CrossKnowledge
11.19 Alphabet
11.20 Ellucian
11.21 Cisco
11.22 Upside LMS

For more information about this report visit https://www.researchandmarkets.com/r/2dpzug

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