Smart Learning Market Segmented: By Mode (Non-profit, Higher education department (HED), Government, Consumer, K-12, and Corporate); by Component Type (Software, Services, Educational Content, and Hardware) and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Smart education and learning solutions emphasize mobile device applications and concentrate on learner mobility. It offers flexible learning, replacing traditional education methods in the classroom. Several education centers, for example with smart notebooks, whiteboards, etc, change their inclination toward an intelligent educational concept. Smart learning is the term applied to the modern learning process. Virtual worlds, particularly in language learning, play a significant role in most domains. Globalization and the development of fresh geographies increase cultural diversity and communication habits that include programs and courses in smart learning.
Global Smart Learning Market is expected to project a notable CAGR of 18.54% in 2030.
Global Smart Learning Market to surpass USD 150.40 billion by 2030 from USD 27.46 billion in 2020 at a CAGR of 18.54% in the coming years, i.e., 2021-30. Simple access to information, convergence with virtual reality, a strong approach, and the integration of the latest technology are key drivers of the size of the online market for smart learning. In addition, increased education, rising internet, and mobile users, and multi-lingual choice by multinational companies give people working in the overall Smart Learning market enormous growth opportunities. The main drivers of the Smart Learning market are globalization and the increasing need for cross-border communication.
Software segment to grow with the highest CAGR during 2020-30
Global Smart Learning Market is segmented by Component Type into Software, Services, Educational Content, and Hardware. It is anticipated that software as a service sector will account for the largest part of the overall Smart Learning market during the predicted timeline. Software services deliver institutions with well-organized ERP systems that help faculty members build improved training and skillfully manage classrooms and schools. Online training platforms create virtual classrooms that enable teachers with no budget constraints to manage a big audience. K-12 and institutions of higher education are constantly struggling to manage complex IT solutions spanning campus-wide.
Consumer segment to grow with the highest CAGR during 2020-30
Global Smart Learning Market is divided by Mode into Non-profit, Higher education department (HED), Government, Consumer, K-12, and Corporate. Based on mode, by 2030, the consumer category will account for the largest proportion of the global online learning industry. The growing use of Smart Learning apps, the proliferation of short and long-term price schemes, and the decline in Internet costs are some of the major contributing factors to this segment's growth.
Increased investment in education
Education is seen in the majority of countries not only as a human right but also as the responsibility to guarantee access to basic training for residents and governments. The national governments also declare an immediate increase in investment in education to support the crisis in global education.
Simpler access to information
Simple access to information, convergence with virtual reality, a strong approach, and the integration of the latest technology are key drivers of the size of the online market for smart learning. In addition, increased education, rising internet, and mobile users, and the use of software and tools for e-learning offer various advantages, such as a reduction of cost in the traditionally educational modules, higher income for each trained employee, higher productivity, and other benefits which have, in turn, increased user acceptance.
Lack of awareness regarding Smart Learning's existence
Many businesses are there are not aware of the basics of Smart Learning which is estimated to hinder the growth of the Smart Learning market. In addition, access to the internet has not penetrated all parts of the world thus hindering the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Smart Learning Market in the Asia Pacific held the largest market share in the year 2020. The Area of Asia Pacific, followed by Europe, the Middle East & Africa, and Latin America is expected to have the highest portion of the overall Smart Learning industry by 2030. Asia-Pacific is also the fastest-growing area due to factors such as increased enrollment in online high schools, the proliferation of multinationals, largely young people searching for better jobs, increased mobile penetration, increased content digitization, and government interventions in national online education networks, and a lack of teachers.
Global Smart Learning Market is further segmented by region into:
The Specialty Smart Learning size was estimated at USD 27.46 billion in 2020 and is expected to reach USD 150.40 billion by 2030.
Key players: Blackboard (US), Samsung (South Korea), New row (US), D2L (Canada), Huawei (China), Cornerstone OnDemand (US), IBM (US), McGraw-Hill (US), CrossKnowledge (US), Cisco (US), Pearson (UK), Alphabet (US), Adobe (US), Saba Software (US), BenQ (Taiwan), and Other Prominent Players
The software and Consumer segment are anticipated to hold the largest Specialty Smart Learning.
Increased investment in education and Simpler access to information
Smart education and learning solutions emphasize mobile device applications and concentrate on learner mobility. It offers flexible learning, replacing traditional education methods in the classroom. Several education centers, for example with smart notebooks, whiteboards, etc, change their inclination toward an intelligent educational concept.
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