Smart Education and Learning Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, Services), By Learning Mode (Collaborative Learning, Virtual Instructor Led Learning, Simulation-Based Learning, Social Learning, Blended Learning), By End User (Corporate, Academic, Government), and Regional Forecast, 2020-2027

The global smart education and learning market size was USD 191.32 billion in 2019 and is projected to reach USD 783.48 billion by 2027, exhibiting a CAGR of 19.6%. North America dominated the global market with a share of 35.82% in 2019.

The traditional way of teaching and learning is replaced by the smart education and learning approaches. This is evident through the transformation of traditional blackboard and chalk-based learning systems to the online or offline interactive learning methods. Electronic learning (e-learning), online tutorials, massive open online courses (MOOC-courses), mobile education (M-education), and other smart learning approaches are gaining traction across the education sector. The smart education technologies help to prepare students in the fast-paced world, which is encouraging ed-tech companies to invest in these technologies. The growing investments for the development of education technology is witnessing remarkable market growth. Further, government initiatives to promote smart education approaches like e-learning is flourishing the smart education and learning market growth.

COVID-19 Global Pandemic Aid Significant Demand for Online Learning

The COVID-19 pandemic has transformed the global education sector abruptly. According to the World Economic Forum (WEF), in April 2020, more than 1.2 billion students from 186 countries have been affected by school closings owing to the lockdowns caused by COVID-19 pandemic. As the pandemic continues to spread across many countries, global education committees are putting continuous efforts to not cause any educational disruption. Thus, the crisis situation changes the learning ecosystem dramatically and online-smart education platforms are gaining traction across the world. For instance, according to publication by UNESCO International Research and Training Centre for Rural Education (UNESCO INRULED) and Smart Learning Institute of Beijing Normal University (SLIBNU), in March 2020, China Ministry of Education has taken an initiative to provide flexible online learning to over 270 million students from their homes through “Disrupted classes, Undisrupted Learning'' program.

Strict lockdown regulation has enforced faculty and trainers to adopt proactive online teaching and learning solutions. Thus, the pandemic is significantly enhancing the demand for smart learning tools, resources, interactive teaching and learning methods, infrastructure and related services. The technological advancements in the education landscape during the global COVID-19 pandemic is flourishing the rapid adoption of smart education and learning methods and tools. 

Several online learning platforms like BYJU’S are offering free access to their education service platform. These offerings allowed people to maximize the use of interactive features offered by online learning. In April 2020, WEF cited in a publication that almost 81% of K-12 students (approximately 730,000) from Wuhan are attending online lectures. As the online learning and e-learning platforms are attaining focus, this market is also enhancing day by day.

Additionally, the pandemic has forced businesses to opt for work from home (WFH) to reduce the virus spread.  The work from home is promoting adoption of online training and education programs for entrepreneurs and employers, which is creating high demand for virtual tutoring, video conferencing tools, language apps, online learning and training software. Thus, COVID-19 global pandemic has proved beneficial to drive the market of smart education and learning.

LATEST TRENDS

Advanced Technologies are Transforming the Smart Education Landscape

The cutting-edge technologies including artificial intelligence (AI), Blockchain, virtual reality, augmented reality, and many more are enhancing learning as well as engagement. Technologies like virtual reality have the power to enhance the way students learn. It helps students to process and understand concepts in a better and an interactive manner. Besides, augmented reality improves the active participation of students by promoting creativity, critical thinking analysis, and problem-solving skills. Managing and collaborating distributed information in a database is a critical task in the online learning mode. Blockchain technology can efficiently handle the management and collaboration of educational content. Similarly, artificial intelligence (AI) in smart education is exploring various innovative ideas that made learning more convenient and personalized. Advanced AI-based learning systems are helping to monitor and analyze the student’s performance. In this manner, advanced technologies are playing an increasing role in improving the competitive edge, which is reshaping the smart learning landscape.

DRIVING FACTORS

Rising Adoption of Mobile Devices to Promote Remote Learning

The growing smartphone, tablets, laptops, and other mobile device adoption by faculty, students, and instructors are promoting remote learning. Also, improving network infrastructure and growing internet penetration has led to a wider adoption of remote learning. Additionally, virtual classrooms have reshaped the remote learning platform like never before. Reliable internet connection and unbounded time and distance are flourishing the advanced learning demand from the past several years. With the growing demand for distance learning, smart education infrastructure is rapidly developing across the United States. Owing to academic purposes, most of the college and university faculties, students and trainers are purchasing laptops as their primary computing device. Also, enhanced penetration of mobile devices across the corporate sector is promoting bring your own device (BYOD) or remote working, that again is contributing to the smart corporate learning market. 

Government Initiatives to Stimulate Smart Education will Boost Market Growth

Owing to its a play-way and interactive learning, the government has taken initiatives to promote smart education platforms. Technology oriented learning aspects of smart learning systems help students to develop with their innovative ideas. Widened scope of education exceeded beyond the classroom improves student performance by delivering blended and personalized learning in a cost-effective manner. Thus, many developing economies including Australia, India, Japan, and among others have focused their attention towards the development of the education sector. Availability of improved and government-certified courses witnessing the government support to promote smart industrial training programs. For instance, in February 2020, under the Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA), government of India has registered 254,897 training centers and about 2 crore candidates have completed training through digital platforms.

RESTRAINING FACTORS

Lack of Awareness and Higher Implementation Costs to Limit the Adoption

Although developed educational institutes are trying every possible way to improve the engagement of learners, certain factors are limiting the smart education market growth opportunities. Many organizations in developing countries are still unaware of the advantageous features of advanced learning platforms. Apart from that, large set-up and high implementation cost of e-learning systems, digital classrooms, and smart classrooms have limited the adoption rate, restraining the market growth of smart education and learning.

SEGMENTATION

By Component Analysis

Software Segment Will Emerge as a Dominant Segment

Based on components, the market segregated as hardware, software, and services. Among this, the software segment is likely to hold the large market share. The development of cloud computing technology has diminished the hardware infrastructure. Software as a service (SaaS) infrastructure offers a robust, flexible, personalized, and easy to access learning model. Growing penetration of mobile devices such as smartphones, tablets, laptops, etc. along with, broadband network connectivity supports online, software-based education platforms. Among the sub-segments of software, smart education and learning along with learning content management systems is expected to witness and to hold a large market value.

The ongoing trend of digitization is encouraging the education sector across developing countries to build a smart education model. The concept of digital and smart classrooms has led organizations to adopt the hardware products including interactive whiteboards, projectors, smart displays, smart notebooks, smart tables, and among others. Governments across the emerging countries are promoting digital education platforms by distributing computers, laptops, tablets to schools and colleges. Accordingly, the hardware segment is anticipated to hold a large CAGR during the forecast period.

The service segment is further categorized as implementation & integration, support & maintenance, and training & consulting services. Among this, the implementation and integration of technologies is a crucial job for both the virtual and physical education model. So, implementation and integration services are likely to hold the major market share.

By Learning Mode Analysis

Collaborative Learning Model Segment will Dominate the Smart Education and Learning Market

Based on the learning mode, the market is segmented into collaborative learning, virtual instructor-led training (VLIT), simulation-based learning, social learning, and blended learning. Among this, collaborative learning mode will lead the smart education market. To develop highly applicable and generic skills among students, information and technology (ICT) has demonstrated great potential for enhancing the collaborative activities that yield optimum results. Collaborative learning mode can overcome time and space barriers, thus becoming favorable across academics as well as corporate and government sectors. 

Virtual instructor-led training (VILT) promotes a learner's abilities without decreasing the instructor's effectiveness thus, VILT will demonstrate high CAGR during the forecast period. The capability to deliver valuable peer-to-peer learning experience, along with a better return of investment (ROI), is the key aspect that drives the adoption of the VILT system. VILT can enhance the knowledge and career development skills without geographical barriers which is encouraging training and educational institutes to adopt the solution.

By End User Analysis

Academic Segment to Embrace Higher Market Share during the Forecast Period

In terms of end-user, the market is categorized broadly into academic, corporate, and government. Among this, the academic segment will account for more than half of the market share. Government initiatives and growing investments for education technology in developed economies like the U.S are promoting the smart education market growth. The academic segment is again classified into K-12 and higher education, wherein, higher education is dominating over K-12. In 2018, the Australian Trade and Investment Commission published a report citing that higher education will account for about 54%, and K-12 accounts for 42% of the U.S Ed-tech market.  

Likewise, remote working, enterprise mobility, and BYOD endorsing video-conferencing, discussion forums, and online training that drives the smart education market across the corporate sector. Small and medium-sized businesses are anticipated to boost adoption owing to delivering cost-effective, collaborative, online training to their employees.

REGIONAL INSIGHTS

Geographically, the market is studied across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries.

Presently, North America is dominating the smart education market growth, through rising Ed-tech activities across the United States. It has been estimated by various studies that the U.S has already become an essential part of the e-learning and online learning ecosystem. E-learning products and services have considerably expanded across North America from the past several years. Prevalent use of mobile devices including smartphones, laptops, and tablets is accelerating the demand for remote learning across the region. The presence of a large number of e-learning companies again strengthens the smart education market value across North America. Digitization led the European education sector to adopt digital education strategies. The increasing demand for wearable technologies and mobile learning platforms is supporting the e-learning development across the region.

Asia Pacific (APAC) is becoming the most significant emerging spot for the smart learning market to cultivate. China and Australia have already become an integral part of smart education and learning platforms to enhance student’s learning experience. Australia has the second-largest Ed-tech start-up community that is flourishing the smart education market. Governments across the countries such as India, Japan, Malaysia, and other Asian countries are promoting the adoption of online learning methods. The government of India is successively promoting e-learning through educational programs including the shagun portal, e-pathshala, swayam prabha, and National Digital Library (NDL), National Repository of Open Educational Resource (NROER) among others.

With growing internet penetration and smartphone adoption, the Middle East & Africa and Latin America are also likely to exhibit a healthy market growth in the coming years.

KEY INDUSTRY PLAYERS

SMART Technologies ULC Focusing to Develop Superlative Learning Products and Solutions

SMART Technologies Inc. provides interactive smart learning products and technologies. Over the past 30 years, the company has introduced a variety of advanced learning solutions including smart board, smart notebook, interconnected displays, collaborative software, and accessories.

• November 2019: The SMART Technologies Inc. has updated its interactive display named SMART Board MX series for simplifying workflows that maximizes time for users.

Major Companies to Follow Organic and Inorganic Growth Strategies to Stay Competitive in the Market

The global market is illustrating the remarkable growth owing to the strong product portfolio and a large distribution network. However, growing financial support by venture capital firms is projected to lead the number of domestic players entering the global market. Companies are focusing on development of industry and customer specific products, which is further expected to raise their market value and positioning. Although, strategic partnerships, acquisitions, and collaborations help key players to maintain their market lead.

LIST OF KEY COMPANIES PROFILED:

• Blackboard Inc. (Washington, D.C., United States)


• Ebix Inc. (Atlanta, Georgia, United States)


• Cisco Systems, Inc. (San Jose, California, United States)


• McGraw Hill. (New York, United States)


• D2L Corporation. (Kitchener, Canada)


• NIIT (Gurugram, Haryana, India)


• Pearson (London, United Kingdom)


• SkillSoft (Nashua, New Hampshire, United States)


• SMART Technologies ULC (Calgary, Canada)


• Ellucian Company L.P. (Virginia, United States)


• BYJU'S (Bengaluru, Karnataka, India)


• PROMETHEAN LIMITED (Seattle, Washington, United States)


• Saba Software (Dublin, California, United States)


• SAMSUNG (Seoul, South Korea)


• Cengage (Boston, Massachusetts, United States)


• NetDragon Websoft Holdings Limited (Fuzhou, China)


• Absorb LMS Software Inc. (Calgary, Alberta, Canada)


• Cornerstone OnDemand, Inc. (Santa Monica, California, United States)


• Oracle Corporation (Redwood City, California, United States)


• Paradiso Solutions LLC (Silicon Valley, California, United States)


• CrossKnowledge (John Wiley & Sons, Inc.) (Suresnes, France)


• JZero Solutions Ltd (Slough, Berkshire, United Kingdom)


• Edmodo (Mariners Island Blvd, San Mateo, CA, USA)

KEY INDUSTRY DEVELOPMENTS:

• January 2020 – SMART Technologies ULC. has launched a new line-up of interactive display panels that bridge physical and digital learning at future education technology conferences and British Educational Training & Technology Shows. 


• May 2019 – NetDragon Websoft, a china-based company developed 265,000 container-like classrooms in Egypt for promoting smart education. 

REPORT COVERAGE

The smart education and learning market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over the recent years.

Report Scope & Segmentation