Revolutionizing Education: Global Smart Education & Learning Market Size Set to Cross $985 Billion by 2030 with a CAGR of 22.6%
NEW YORK, May 3, 2023 /PRNewswire/ -- As per Zion Market Research study, The global smart education & learning market is set for rapid growth over the forecast period. In terms of revenue, the global smart education & learning market accounted for USD 201.54 Billion in 2022 and is expected to reach USD 985.33 Billion by 2030, growing at a CAGR of 22.6% during the forecast period.
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Smart Education & Learning Market: Overview
Smart education and learning is an electronic method of learning and education with the aid of learning software and application. Smart education and learning offer universal learning for students using new technologies and provide a paradigm change in student access to education. The method uses state-of-the-art technology to help teachers and learners train themselves. Smart education and learning can be achieved using innovative approaches such as digital learning environments, virtual schools, smartphones, and others.
Smart education and learning enable students to communicate with other students via online teaching platforms and to engage in a discussion thread to resolve queries. Students may also evaluate themselves with other students within their field and check if their learning outcomes are satisfactory.
Smart education enables teachers to develop better instructional styles to meet the needs of students. Smart education and learning ensure continuous development by tracking the progress of learning goals. Smart education is making learning accessible to everyone through their smartphones and is a great tool for knowledge sharing.
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Key Industry Insights & Findings of the Smart Education & Learning Market Reports:
- As per the analysis shared by our research analyst, the global smart education & learning market is expected to grow annually at a promising CAGR of around 22.6% during the forecast period 2023-2030.
- In terms of revenue, the global smart education & learning market size was valued at around USD 201. 54 billion in 2022 and is expected to reach USD 985.33 billion by 2030.
- The smart education and learning industry is driven by several factors, including technological advancements, rising demand for personalized learning experiences, and increasing adoption of e-learning solutions.
- Based on learning mode, the blended learning segment held the largest market share in 2022.
- Based on component, the service segment held the dominating market share in 2022.
- Based on end-user, the academic segment held the largest market share in 2022.
- Based on region, the North America region held the commanding market share in 2022.
Zion Market Research published the latest report titled "Smart Education & Learning Market By Stage (Pre-Primary & Primary Stage, Middle Stage, Secondary & Higher-Secondary, Undergraduate & Postgraduate, Others), By Component (Hardware, Software, Service), By Learning Mode (Adaptive Learning, Blended Learning, Collaborative Learning, Social Learning, Simulation-Based, Virtual Instructor LED Training), By End-User (Corporate, Academic), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030" into their research database.
Industry Dynamics:
Smart Education & Learning Market: Growth Drivers
- Surge in need for personalized learning and improvement in digital literacy drive the growth of the industry.
The global smart education and learning market is driven by several factors, including technological advancements, rising demand for personalized learning experiences, and increasing adoption of e-learning solutions. The integration of technologies such as artificial intelligence, machine learning, and virtual & augmented reality in educational systems is transforming traditional teaching methods and making learning more interactive and engaging.
The COVID-19 pandemic has also accelerated the adoption of e-learning solutions as schools and universities shifted to online modes of teaching. Additionally, the need to reskill and upskill the workforce in response to changing job demands is driving the growth of the smart education and learning market. Government initiatives aimed at promoting digital literacy and improving the quality of education are also contributing to the growth of this market.
Smart Education & Learning Market: Restraints
- Lack of connectivity in underdeveloped nations might hinder the growth of the industry.
Despite the growth drivers, the smart education and learning industry also faces certain restraints. One of the major challenges is the lack of infrastructure and connectivity in developing and underdeveloped countries. Additionally, concerns around the quality of digital content and the lack of trained personnel to implement & maintain the e-learning solutions also pose a challenge. Moreover, the high cost of implementing and maintaining these solutions, especially for smaller educational institutions, can hinder their adoption. The regulatory landscape and compliance requirements can also be a barrier to the growth of the market.
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Smart Education & Learning Market: Opportunities
- Increase in the development of new technologies create ample opportunities for the industry.
The global smart education and learning market presents several opportunities for growth and innovation. One of the major opportunities is the increasing adoption of mobile devices and the internet, which has led to the emergence of mobile learning solutions. The demand for personalized and adaptive learning experiences is also driving the growth of the market, with the use of analytics and artificial intelligence to tailor content to individual learners. The market is also witnessing the emergence of gamification and microlearning, which make learning more engaging and accessible.
The need for reskilling and upskilling in response to changing job market demands presents a significant opportunity for the market. Additionally, the increasing focus on lifelong learning and continuous education is driving the growth of the market, as learners seek to acquire new skills and knowledge throughout their careers. The market also presents opportunities for collaboration between educational institutions and ed-tech companies to develop innovative solutions.
Smart Education & Learning Market: Challenges
- Lack of proper infrastructure and trained professionals act as a challenge for the industry.
The smart education and learning market faces several challenges, including concerns around the quality of digital content, lack of infrastructure in developing and underdeveloped countries, high implementation & maintenance costs, and regulatory & compliance requirements. The shortage of trained personnel to implement and maintain the e-learning solutions can also be a challenge. Additionally, the market is highly competitive, with a large number of ed-tech companies vying for market share, which can make it challenging for new entrants.
Global Smart Education & Learning Market: Segmentation
- The global smart education and learning market is segmented based on stage, component, end-user, learning mode, and region.
Based on stage, the market is segmented into Pre-Primary & Primary Stage, Middle Stage, Secondary & Higher-Secondary, Undergraduate & Postgraduate, and others. The secondary & higher secondary segment held the dominating market share in 2022 and is further predicted to grow rapidly at a rapid CAGR during the forecast period.
Based on components, the smart education and learning industry is segmented into service, software, and hardware. The service segment held the dominating market share in 2022 and is further projected to grow at a significant CAGR during the forecast period. This growth is driven by the increasing adoption of smart education and learning solutions, which require specialized expertise and support for successful implementation and maintenance. Service providers offer a range of services, such as needs assessment, solution design, customization, deployment, training, and ongoing technical support.
These services help educational institutions and organizations optimize the use of smart education and learning solutions, and ensure their smooth operation and maintenance. The service segment is also benefiting from the growing demand for cloud-based solutions, which require specialized expertise in cloud deployment and management.
Based on end-user, the market is segmented into corporate and academic. The academic segment held the largest market share in 2022 and is further anticipated to grow rapidly at a remarkable CAGR during the forecast period. The academic segment of the smart education and learning market, which includes K-12 schools, colleges, and universities, is experiencing significant growth due to the increasing demand for personalized and adaptive learning solutions.
The adoption of smart education and learning solutions in the academic sector is driven by the need to enhance the quality of education, improve student engagement & performance, and address the skills gap in the workforce. Smart education and learning solutions offer a range of benefits to academic institutions, including the ability to deliver interactive and multimedia-rich content, enable remote learning & collaboration, and provide real-time feedback & assessments. The academic segment is also benefiting from advancements in technology, such as artificial intelligence and virtual reality, which are enhancing the effectiveness and efficiency of smart education and learning solutions.
Based on learning mode, the smart education and learning industry is bifurcated into Adaptive Learning, Blended Learning, Collaborative Learning, Social Learning, Simulation-Based, and Virtual Instructor LED Training. The blended learning segment held the dominating market share in 2022 and is expected to grow at an exponential CAGR during the forecast period.
The blended learning segment of the smart education and learning market, which combines online and offline learning modalities, is experiencing rapid growth due to the increasing demand for flexible and customized learning solutions. Blended learning solutions offer a range of benefits, including the ability to combine the best of both online and offline learning, provide personalized and adaptive learning experiences, and enhance collaboration and engagement among learners and teachers.
The adoption of blended learning solutions is also driven by the need to address the challenges of traditional classroom-based learning, such as limited access to resources and limited interaction among learners. The blended learning segment is also benefiting from advancements in technology, such as cloud computing and mobile devices, which are enabling the seamless integration of online and offline learning modalities.
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List of Key Players in Smart Education & Learning Market:
- IBM
- Microsoft Corporation
- Adobe Inc.
- Blackboard Inc.
- Pearson plc
- McGraw-Hill Education
- Oracle Corporation
- Cisco Systems Inc.
- NIIT Limited
- Saba Software Inc.
- D2L Corporation
- Cornerstone OnDemand Inc.
- Citrix Systems Inc.
- SMART Technologies
- IBM Watson Education
- Promethean World Ltd
- Aptara Inc.
- SumTotal Systems LLC
- Edmodo
- Udacity
- Coursera
- Pluralsight LLC
- Lynda.com Inc.
- Skillshare Inc.
- Knewton Inc.
- Among Others.
Key questions answered in this report:
- What are the growth rate forecast and market size for Smart Education & Learning Market?
- What are the key driving factors propelling the Smart Education & Learning Market forward?
- What are the most important companies in the Smart Education & Learning Market Industry?
- What segments does the Smart Education & Learning Market cover?
- How can I receive a free copy of the Smart Education & Learning Market sample report and company profiles?
Report Scope:
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Recent Developments
- In November 2021, Edmentum, a provider of online learning solutions, launched Edmentum International, a new division dedicated to serving K-12 schools outside of the United States. This expansion will allow Edmentum to reach new markets and provide its solutions to schools around the world.
- In October 2021, Blackboard, a leading provider of learning management systems, announced that it had acquired Xpansive, a provider of online proctoring solutions. This acquisition will allow Blackboard to expand its capabilities in the important area of online assessment and ensure the integrity of exams taken remotely.
Regional Dominance:
- North America region to dominate the global market during the forecast period.
Based on region, the North American region held the largest smart education and learning market share in 2022 and is further anticipated to grow steadily during the forecast period. The smart education and learning market in North America is experiencing significant growth due to the increasing adoption of digital technologies in the education sector. The region is home to several leading players in the smart education & learning market and has a highly developed technology infrastructure and favorable government policies that support the adoption of smart education and learning solutions.
The market growth in North America is also driven by the increasing demand for personalized and adaptive learning solutions, as well as the growing need to address the skills gap in the workforce. The market is expected to continue its growth trajectory in the coming years, with the increasing adoption of cloud-based solutions, artificial intelligence, and virtual reality. The K-12 education segment and higher education institutions are the primary end-users of smart education and learning solutions in North America, followed by corporate training and government organizations.
Global Smart Education & Learning Market is segmented as follows:
Smart Education & Learning Market: By Stage Outlook (2022-2030)
- Pre-Primary & Primary Stage
- Middle Stage
- Secondary & Higher-Secondary
- Undergraduate & Postgraduate
Smart Education & Learning Market: By Component Outlook (2022-2030)
- Hardware
- Software
- Service
Smart Education & Learning Market: By Learning Mode Outlook (2022-2030)
- Adaptive Learning
- Blended Learning
- Collaborative Learning
- Social Learning
- Simulation-Based
- Virtual Instructor LED Training
Smart Education & Learning Market: By End-User Outlook (2022-2030)
- Corporate
- Academic
Smart Education & Learning Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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