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.
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The Smart Learning [https://www.marketsandmarkets.com/Market-Reports/smart-digital-education-market-571.html?utm_source=prnewswire&utm_medium=referral&utm_campaign=paidpr] 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(TM).
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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