CHICAGO, May 20, 2024 /PRNewswire/ -- AI, VR/AR,
and EdTech developments will power smart learning in the
future by allowing individualized, immersive, and adaptable
learning opportunities. Prioritizing lifelong learning, online and
hybrid learning, and data security will increase global
accessibility and inclusivity in education. Partnerships between
academic institutions and digital firms will spur additional
innovation and ensure that courses meet the demands of the
sector.
The Smart Learning Market is expected to reach
USD 155.2 billion by 2029 from
USD 67.1 billion in 2024, at a CAGR
of 18.3 % during 2024–2029, according to a new report by
MarketsandMarkets™.
Browse in-depth TOC on "Smart Learning Market"
440 - Tables
54 - Figures
325 - Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2018-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD)
Million/Billion
|
Segments
Covered
|
By Offering, hardware, solutions, and services, learning
type, end user, and Region
|
Region
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, and Latin
America
|
Companies
covered
|
The major players in
the smart learning market are IBM (US), Samsung (South Korea),
Adobe (US), Anthology (US), SMART Technologies (Canada), Oracle
(US), SAP (Germany), Microsoft (US), Cornerstone OnDemand (US),
Pearson (UK), BenQ (Taiwan), Google (US), McGraw Hill (US), Cisco
(US), Huawei (China), D2L (Canada), Ellucian (US), Alphabet
(Alphabet Inc), Upside LMS, Edsys (India), echo360 (US), Knowledge
Anywhere (US), Instructure (US), SkyPrep (Canada), Paradiso
Solutions (US), and Latitude CG (US).
|
Government investments in digital infrastructure and educational
technology are significant drivers of the smart learning market.
Around the world, governments are implementing policies to
modernize educational systems and promote lifelong learning. For
instance, the E-rate program in the
United States and Saudi
Arabia's Vision 2030 initiative aim to increase the adoption
of smart learning solutions in schools and universities. Such
policies ensure that educational institutions have the necessary
resources and support to integrate advanced learning
technologies.
The solution segment is projected to register the highest
CAGR during the forecast period.
The solutions segment of the smart learning market encompasses a
wide array of offerings, including integrated solutions and
standalone solutions, aimed at addressing various educational needs
and challenges. 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,
allowing teachers to manage a large audience without budget
constraints.
K-12 and higher education institutions constantly struggle to
administer complex and contrasting IT solutions scattered across
the campus. These software solutions help educational constituents
cooperate using a single online learning platform. They further
help manage content and facilitate the integration of all
constituents in the learning lifecycle. Implementing SIS systems
helps corporate and academic users integrate functionalities, such
as HR/payroll, financial management, and enrollment, onto a single
platform, thus streamlining the collaboration process of all
learning constituents from any location.
The Asynchronous learning type segment contributed the
largest market share in the smart learning market during the
forecast period.
Asynchronous learning can be carried out online as well as
offline. Asynchronous learning involves the coursework delivered by
web, email, or message boards posted in online forums. In this type
of learning, learners cannot put forth their doubts in real time.
Learners can be self-paced, which is not possible with the
synchronous learning type. Asynchronous learning software, such as
SAP Learning Hub, Adobe Captivate, Pearson MyLab, and Newrow
Virtual Classroom, provides benefits like 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.
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Based on region, Asia
Pacific is projected to register the highest CAGR during the
forecast period.
Asia Pacific, home to nearly
40% of the world's population, is witnessing diverse
implementations of smart learning technologies. The Asia Pacific region is undergoing a notable
surge in adopting smart learning, driven by the flourishing
economies of India, China,
Japan, Australia, and New
Zealand. Notably, Japan and
China stand out as the frontrunners in this market, leveraging
their technological prowess to drive innovation. Government
initiatives aimed at bolstering digital infrastructure play a
pivotal role in accelerating the adoption of video conferencing
solutions across the region. With a promising outlook for the
forecast period, Asia Pacific
offers fertile ground for enhanced growth opportunities.
Top Companies in Smart Learning Market
The report profiles key players such as IBM (US), Samsung
(South Korea), Adobe (US),
Anthology (US), SMART Technologies (Canada), Oracle (US), SAP (Germany), Microsoft (US), Cornerstone OnDemand
(US), Pearson (UK), BenQ (Taiwan),
Google (US), McGraw Hill (US), Cisco (US), Huawei (China), D2L (Canada), Ellucian (US), Alphabet (Alphabet
Inc), Upside LMS, Edsys (India),
echo360 (US), Knowledge Anywhere (US), Instructure (US), SkyPrep
(Canada), Paradiso Solutions (US),
and Latitude CG (US).
Recent Development
- In March 2024, Talisma
Corporation established a strategic partnership with Anthology.
Talisma will serve as a reseller partner for Anthology's well-known
Learning Management System (LMS), Blackboard Learn, in India.
- In March 2024, Usher's New Look
(UNL) and IBM collaborated to provide free career readiness
training through IBM SkillsBuild.
- In October 2023, Samsung
Electronics America partnered with STS EDUCATION to supply Samsung
Interactive Displays to schools looking to energize classroom
learning. Schools that order Samsung Interactive Displays through
the partnership will receive installation and ongoing maintenance
services from STS EDUCATION and access to Samsung's professional
development resources.
- In September 2023, Adobe
announced a partnership with the Union Education Ministry to
deliver Adobe Express-based curriculum and training to schools
across India. The initiative aims
to reach 20 million students and 500,000 educators by 2027.
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Smart Learning Market Advantages
- Utilize AI and machine learning to tailor educational content
and pace to individual learning styles and needs. Learners can
choose courses and materials that align with their interests and
career goals, enhancing motivation and engagement.
- Online platforms provide access to educational resources from
any location, at any time, making learning more flexible. Enhanced
accessibility features, such as text-to-speech and customizable
interfaces, ensure that learners with disabilities can participate
fully.
- Incorporates game elements like points, badges, and
leaderboards to make learning more engaging and fun. Uses videos,
simulations, and interactive modules to make complex concepts
easier to understand and retain.
- Digital textbooks and resources lower the expense of physical
books and materials. Online courses and resources can accommodate
large numbers of learners without significant additional
costs.
- Facilitate collaboration through forums, group projects, and
social media integrations, encouraging peer-to-peer learning.
Connects learners and educators from around the world, fostering a
global exchange of ideas and perspectives.
Report Objectives
- To determine and forecast the global smart learning market by
offering, hardware, solutions, and services, learning type, end
user, and region from 2024 to 2029, and analyze the various
macroeconomic and microeconomic factors affecting market
growth.
- To forecast the size of the market segments concerning five
central regions: North America,
Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
- To provide detailed information about the major factors
(drivers, restraints, opportunities, and challenges) influencing
the growth of the smart learning market.
- Analyze each submarket concerning individual growth trends,
prospects, and contributions to the overall smart learning
market.
- To analyze the opportunities in the market for stakeholders by
identifying the high-growth segments of the smart learning
market.
- To profile the key market players; provide a comparative
analysis based on business overviews, regional presence, product
offerings, business strategies, and key financials; and illustrate
the market's competitive landscape.
- Track and analyze competitive developments in the market, such
as mergers and acquisitions, product developments, partnerships and
collaborations, and Research and Development (R&D)
activities.
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