Overview and Scope
The smart education and learning market consists of revenues earned by entities by providing services such as online courses and classes, learning management systems (LMS), and personalized learning solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart education and learning market also includes sales of educational apps, interactive whiteboards, virtual reality (VR) headsets, adaptive learning software, and student response systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The smart education and learning market size has grown exponentially in recent years. It will grow from $332.35 billion in 2023 to $395.01 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to access to remote education, customized learning, an increasing need for flexible and accessible learning options, favorable government initiatives and corporate funding, increase in internet penetration.
The smart education and learning market size is expected to see exponential growth in the next few years. It will grow to $883.75 billion in 2028 at a compound annual growth rate (CAGR) of 22.3%. The growth in the forecast period can be attributed to the increasing adoption of IoT devices, growing demand for adaptive learning systems, increased focus on data analytics, growing need for corporate training and professional development, and growing need for virtual classrooms. Major trends in the forecast period include AI-powered adaptive learning systems, virtual reality (VR) simulations that provide immersive, interactive learning experiences, cloud-based learning platforms, and natural language processing (NLP) algorithms that enable voice-activated learning assistants and chatbots.
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Segmentation & Regional Insights
The smart education and learning market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Learning Mode: Virtual Instructor-Led Training, Simulation-Based Learning, Social Learning, Blended Learning, Adaptive Learning, Collaborative Learning
3) By End User: Academics, Corporate
North America was the largest region in the smart education and learning market market in 2023. The regions covered in the smart education and learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of e-learning methods is expected to propel the growth of the smart education and learning market going forward. E-learning methods refer to educational approaches that utilize electronic technologies to access curriculum outside of traditional classrooms. The increasing adoption of e-learning methods signifies a growing preference for digital education solutions worldwide. Smart education and learning enhance e-learning by providing personalized, interactive, and efficient educational experiences through advanced technologies. For instance, in February 2021, Google LLC, a US-based technology company, reported that over 150 million students, educators, and school leaders worldwide used Google Classroom for teaching and learning, a significant rise from 40 million users in 2020. Therefore, the increasing adoption of e-learning methods is driving growth in the smart education and learning market.
Key Industry Players
Major companies operating in the smart education and learning market are Apple Inc., Alphabet Inc., Samsung Group, Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems Inc., NIIT Limited, Adobe Inc., Pearson PLC, McGraw-Hill Inc., Ellucian Company, Blackboard Inc., Udemy Inc., Coursera Inc., Smart Technologies, Sum Total Systems, Desire2learn Corporation, Tata Class Edge Limited, Khan Academy, Saba Software Inc.
The smart education and learning market report table of contents includes:
1. Executive Summary
2. Smart Education And Learning Market Characteristics
3. Smart Education And Learning Market Trends And Strategies
4. Smart Education And Learning Market – Macro Economic Scenario
5. Global Smart Education And Learning Market Size and Growth
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32. Global Smart Education And Learning Market Competitive Benchmarking
33. Global Smart Education And Learning Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Education And Learning Market
35. Smart Education And Learning Market Future Outlook and Potential Analysis
36. Appendix
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