The growing spending and investments in the educational sector is expected to boost the adoption of Smart Learning software solutions
The global smart learning market size is anticipated to reach over USD 151.65 billion by 2028. In addition, it is expected to exhibit a CAGR of over 21.97 % during the forecast period 2021-2028. In today’s digital age smart learning has become an extensive term for education. It leverages advanced technologies that allow learners to adopt skills and gather knowledge more conveniently, efficiently, and effectively. However, besides its potential advantages, many people find smart learning a vague concept.
The existing and future smart learning market developments are outlined to determine the attractiveness of the market. Key impacting factors highlight the smart learning market opportunities during the forecast period. Factors such as the increasing use of machine learning and artificial intelligence in smart learning are also the key factor driving the market growth for smart learning solutions. Also, increasing the penetration of connected devices in the education industry is another factor driving market growth. However, the rising cyber-attacks on educational institutes are hampering the market growth. Furthermore, the growing spending and investments in the educational sector on e-learning and digital education systems are expected to offer lucrative growth opportunities for the market in the forthcoming years.
The report also highlights various characteristics of the global smart learning industry by valuing the market through value chain analysis. In addition, the report comprises several qualitative features of the smart learning industry that covers market drivers, restraints, as well as key industry opportunities. Additionally, the report offers a comprehensive valuation of the market rivalry along with company profiling of local as well as global vendors.
The smart learning market has the rigorous competition between the pre-established and new emerging market players. Also, the smart learning industry players are aiming at potential markets to seize a competitive lead over the other industry players by forming acquiring new startups & other companies, agreements, forming collaboration and partnerships, mergers & acquisitions, and expanding their business presence.
Based on learning mode, the market is segmented into asynchronous learning and synchronous learning. The asynchronous learning segment held the highest market share in 2019 and it is projected to remain dominant throughout the forecast period. On the contrary, the synchronous learning mode segment is estimated to gather the major CAGR during the forecast period 2020-2025. The growth of this segment is mainly accredited to its feature of question and answer in real-time where the learner can ask their doubts to the tutor during the session.
The North America region is anticipated to gather the highest market share during the forecast period. The dominance of this region is primarily accredited to the increasing adoption of educational apps that allow students and tutors to access the information at any place and time. However, the Asia-Pacific region is anticipated to experience significant growth during the forecast period 2020-2025. The market growth in this region is mainly attributed to the growing demand for custom eLearning technologies and the content.
The major players of the global smart learning market are IBM, SAP, Cisco, SAS, Cornerstone OnDemand, Adobe, Saba Software, Microsoft, Huawei, and Oracle. Moreover, the other potential players in the smart learning market are Newrow, D2L, McGraw-Hill, Blackboard, and SMART Technologies. The recognized companies are coming up with innovative and new smart learning solutions. For instance, in November 2019, Cornerstone, a cloud-based learning provider announced a partnership with Kronos, a leading provider of human capital management and workforce management cloud solutions. With this partnership, both companies now offer enhanced learning experience for employees and clients. Also, by integrating Cornerstone learning solutions organizations can efficiently able to engage with their workforces.
Segment Overview of Global Smart Learning market
Component Overview, 2018-2025 (USD Billion)
- Interactive Projectors
- Interactive Displays
- Interactive White Board
Learning Mode Overview, 2018-2025 (USD Billion)
- Asynchronous Learning
- Synchronous Learning
End Users Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America