The report "Smart Education and Learning Market by Hardware (IWB & SBL), Software (LMS/LCMS, ERP, Test & Assessment, Mobile Education Apps), Educational Content (Audio & Video Courseware, E-Textbooks), Learning Modes, User Type, & Region - Global Forecast to 2020", defines and segments the global smart education market into various sub-segments with an in-depth analysis and estimation of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it, along with the adoption trends.
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As technology continues to develop, it brings with it the latest opportunities and challenges for educators and students. The biggest challenges for education institutions are the difficulties in adopting a secure infrastructure and the lack of digital fluency among institutions towards the latest technological trends.
Budget cuts continue to emerge for many K-12 and higher education institutions as they largely dependent on state funding. Educational institutions lack IT governance which is essential for making the right decisions while adopting products and software solutions. The vendors in the smart education & learning market are constantly innovating and remodeling their current planning to build more proficient and modern information systems.
The smart education & learning market caters to users from both the academic as well as the corporate world. The market consists of various large and niche players who provide proficient software solutions such as Learning Management Systems (LMS), Learning Content Management Systems (LCMS), Enterprise Resource Planning (ERP), test and assessment, and mobile education apps. These software solutions are gaining traction in various industry verticals such as retail, BFSI, government, and healthcare.
Major vendors in the smart education & learning market are Blackboard, Smart Technologies, EduComp Solutions, Three Rivers Systems, NIIT Limited, Scholastic Corporation, Saba Software, Ellucian, Cisco Systems, and Adobe Corporation. The major forces driving this market are the increasing growth of mobile educational applications and the improved collaboration between hardware vendors and educational content providers.
The education sector is no longer involved with the conventional form of teaching. The model of education has shifted and is now surrounded by digital technology. Schools and universities permit students to bring their own devices, thus making learning more engaging and interactive.
MarketsandMarkets broadly segments the global smart education & learning market by product: hardware, software, services, and educational content; by user type (academic and corporate). Academic has been further segmented into PreK-12 and Higher Education. Moreover, corporate includes SMBs, Large Enterprises, and Verticals; by learning modes (e-learning, virtual instructor-led training, mobile learning, social learning, simulation-based learning, and adaptive learning); by region: North America, Asia-Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America.
MarketsandMarkets forecasts the global smart education & learning market to grow from $105.23 Billion in 2015 to $446.85 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 24.4%. In terms of regions, North America is expected to be the largest market in terms of market size, while Europe and APAC are expected to experience an increase in market traction, during the forecast period. APAC is expected to experience a high growth and adoption rate in this market.
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