Pune, India, Sept. 14, 2021 (GLOBE NEWSWIRE) -- The worldwide smart education and learning market size is projected to arrive at USD 783.48 billion before the finish of 2027. The rising cell phone infiltration, combined with the simplicity of accessibility of high-velocity correspondence networks across the world will arise for market development. As per a report distributed by Fortune Business Insights, named "Smart Education and Learning Market Size, Share and 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, 2021-2027," the market was worth USD 191.32 billion out of 2021 and will show a CAGR of 19.6% during the conjecture time frame, 2021-2027.
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Smart education and learning has been a necessary piece of our way of life since the time the underlying foundations of innovation have been spread across the world. The execution of ongoing ideas has demonstrated valuable for a few applications, including keen instruction. The changing way of life propensities and tutoring designs have set out a few development open doors for the organizations working on the lookout. The presence of a few enormous scope organizations in this area has therefore arisen for the development of the general market. The enormous interests in innovative incorporation are noteworthy to the advantages offered by shrewd instruction and learning, particularly in extraordinary occasions like pandemics and crisis circumstances. The essential point of brilliant instruction and learning is to present a worked on method of learning and obviously, these stages have taken into account the COVID-19 pandemic.
List of Key Players in Smart Education and Learning Market::
- 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)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 19.6% |
| 2027 Value Projection | USD 783.48 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 191.32 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 160 |
| Segments covered | Component, Learning Mode, End User and Geography |
| Growth Drivers | Smart Education Has Almost Perfectly Fit-In During the COVID-19 Pandemic |
| Company Mergers are an Increasing Trend Among Major Companies Across the World | |
| North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth |
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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Market Driver:
Smart Education Has Almost Perfectly Fit-In During the COVID-19 Pandemic
The recent coronavirus outbreak has created a sense of panic across the world. The rapid spread of the disease has compelled governments across the world to focus on implementing strict measures that would include social distancing practices to curb the spread of the virus. In such situations, platforms such as smart learning and education become an essential part of our life. As more people are left with no other option than to stay indoors, online platforms blend in perfectly with this kind of lifestyle. The presence of numerous large scale vendors will have a significant impact on the growth of the overall market during the COVID-19 pandemic.
Company Mergers are an Increasing Trend Among Major Companies Across the World
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and collaborations has made the highest impact on market growth. Due to healthy market competition, companies have found it increasingly difficult to penetrate in the consolidated regions and it looks like collaborations have given most of the companies a platform to expand their businesses. In June 2021, Skillsoft announced that it has collaborated with Data Society to develop a new virtual classroom platform. The company will develop its first Python Bootcamp that will enable attendees' interaction with all other people in the session. The company will look to develop a customized virtual classroom that will help address the rising product demand across the world. Skillsoft's latest collaboration with Data Society is one of several company collaborations of recent times that have had a huge say on the growth of the overall market.
Regional Analysis:
North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence of several large scale companies will have a huge impact on the growth of the regional market. The increasing demand and adoption of online platforms as well as home schooling, especially in the United States, will bode well for the growth of the regional market. The rising coronavirus cases in the United States have been pivotal to the widespread adoption of the product and subsequently, the growth of the market. As of 2021, the market in North America was worth USD 68.54 billion and this value is projected to increase further in the coming years.
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Industry Developments:
October 2021 — Saba Software announced the launch of a personalized learning experience platform, to provide better user engagement.
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter's Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Smart Education and Learning Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Hardware
- Interactive White Boards
- Interactive Displays
- Interactive Tables
- Interactive Projectors
- Student Response Systems
- Software
- Smart education and learning (LMS)
- Learning Content Management System
- Adaptive Learning Platform
- Assessment Systems
- Others
- Services
- Implementation and Integration
- Training and Consultant
- Support and Maintenance
- Hardware
- By Learning Mode (Value)
- Collaborative Learning
- Virtual Instructor Led Training (VLIT)
- Simulation Based Learning
- Social Learning
- Blended Learning
- By End-User (Value)
- Corporate
- SMEs
- Large Enterprises
- Academic
- K-12
- Higher Degree
- Government
- Corporate
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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