Smart Education & Learning Market – Share Analysis (2024–2032)

Description

Smart Education & Learning Market Synopsis:

Smart Education & Learning Market Size Was Valued at USD 309 Billion in 2023, and is Projected to Reach USD 1,402.2 Billion by 2032, Growing at a CAGR of 18.3% From 2024-2032.

Smart Education & Learning Market can be defined as the application of emerging technologies, IT tools, and techniques together with creative pedagogical approaches to support learning processes for learners and educators. This market covers products as diverse as e-learning software, tools for interacting with virtual classrooms, and similar educational hardware. It is meant to deliver adaptive, sensorial, and economical learning that is aligned with the use of Artifical Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR) and Learning Management Systems (LMS). They serve sectors of education including K-12, higher education, corporate training and education for lifelong. Market remains driven by the need for affordable and capable learning solutions, as well as uptake of e-learning platforms as a result of improved internet connectivity solutions.

The Smart Education & Learning Market is growing at a fast pace, majorly due to the growing rate of digitalization in the education industry and further emphasis on learning centric models of education. The market has developed significantly over the last ten years, with technologies enabling the stream of content delivery, tests, and forms of feedback. These solutions are being adopted in educational institutions and corporate organizations due to issues like; poor access, high costs and the drawbacks of conventional learning solutions. Also, initiatives toward the adoption of digital education by the government and investment in smart structures have aided the development of growth path.

The market has witnessed positive growth with the help of COVID-19 as it forced education to totally switch to remote learning. New remote-learning solutions benefited from the shift of schools, colleges, and offices during the pandemic to using online education; This led to high demand for virtual classrooms, video conferencing and cloud-based learning platforms. Furthermore, the increasing popularity and availability of smartphones and the internet in developing countries have widely extended the range of smart education solutions to extend education services to underserved districts.

Smart Education & Learning Market Trend Analysis:

The Rise of Gamified Learning

Education gameification is a fast-growing trend in the education domain as it makes content less boring by introducing point systems, and leaderboards coupled with interaction in form of educational chores. This has been on the rise since it has the tendency of increasing student motivation, their participation as well as increasing the dropout rates. More and more educational platform and institutions are incorporating elements of gamification into their system. For instance, while simulations and augmented and virtual reality gaming tools have become popular in STEM education discourses to support learners’ practical experiences. As more money poured into ed-tech startups that provide game-based content, this trend is projected to define the Smart Education & Learning Market.

Expansion of AI-Driven Personalized Learning

The introduction of AI in education in particular provides growth opportunities in the market. With the help of AI adaptation, student’s needs, preferences, and session, performance characteristics could be identified, and corresponding lessons and recommendations could be allocated. It makes education more effective by increasing the learning of contents, focusing more time on a given subject of study. In addition, through the use of tools like chatbots and virtual assistants, learning approaches and content delivery have also shifted deal with as they provide round the clock support to learners with queries being handled as they occur. Since educational institutions and businesses are transitioning to AI based systems, there is a strong prediction of a lot of growth in this market in the near future.

Smart Education & Learning Market Segment Analysis:

Smart Education & Learning Market is Segmented on the basis of Component, Learning Mode, End User, and Region.

By Component, Hardware segment is expected to dominate the market during the forecast period

Among the various services that exist in smart education & learning market, the Hardware segment is expected to be the largest during the forecast period mainly because of the enhanced usage of intelligent devices in teaching methods like smart cooperate boards, tablets, and vr heads. The hardware solutions especially in learning institutions in the developed countries are being invested to make classroom intelligent for the general learning process. ’For example, despite adopting the same instructional model, interactive displays let the teacher convey expansive concepts in an appealing way a learning experience that cannot be accomplished through traditional methods can be done through the help of VR devices.

Also, It remains to focus on the fact that functional and inexpensive hardware platforms in the emergent markets help make smart education facilities more available. As the government increases its financing on digital education products and services and K-12 improvement initiatives, the need for educational hardware should persist. This segment is a key driver of smart education, and the basis on which the software and the content is built.

By Learning Mode, Virtual Instructor-led Training segment expected to held the largest share

Out of all the segments, Virtual Instructor-Led Training is expected to have the largest market share due to many advantages it has over other forms of training including actual face-to-face teaching. As for VILT, learners get an opportunity to participate in an actual, in real time interaction with the instructors and fellow learners through the virtual means. This learning mode is very popular in the corporate sector where working professionals can complete their training courses online without having to travel, and without having to take time off work.

Furthermore, VILT is finding its application in higher education and professional certification course where it has the pull factor of large scale and NO factor of compromising the quality. An even faster pace in the development of the segment was given by the introduction of products such as Zoom, Microsoft Teams, and Google Meet. By steady advancement in the communication technologies and an enhanced Internet connectivity, VILT is poised to remain as a key enabler of the Smart Education & Learning Market.

Smart Education & Learning Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

North America is acknowledged as the largest market in the Smart Education & Learning Market in 2023 as the market share is estimated to be about 35%. These factors can be explained by the technology background of the area, high usage of innovative educational technologies, and the orientation on digital education investments. The US has remained more proactive than most nations with diverse ed-tech companies providing solutions to the K-12, college and university institutions. Also, positive government policies as the Every Student Succeeds Act (ESSA) have also contributed towards the advancement of smart education solutions.

Corporate training is another area where North America is a market leader, with organizations using the opportunities of the Internet to provide their employees with additional training. With the coming of the digital transformation of education in the region, it will continue to be a leading region in the global market.

Active Key Players in the Smart Education & Learning Market:

Adobe Inc. (USA)

Blackboard Inc. (USA)

Cisco Systems Inc. (USA)

Cornerstone OnDemand Inc. (USA)

D2L Corporation (Canada)

Edmodo LLC (USA)

Educomp Solutions Ltd. (India)

Ellucian Company L.P. (USA)

Google LLC (USA)

IBM Corporation (USA)

Instructure Inc. (USA)

McGraw-Hill Education (USA)

Pearson PLC (UK)

Promethean World Limited (UK)

SAP SE (Germany)

Other key Players