Rapid advancement in digital technology is not only influencing automotive, manufacturing and retail sector, but also playing a significant role in shaping the educational sector. Growing adoption of consumer electronics such as laptops, e-readers and e-learning apps has transformed conventional learning methodology. Thereby improving the efficiency and understanding in learning methods. Apart from students, corporate professionals are also adopting this smart learning technology, for instance: employees in corporate world are progressively opting for digital learning courses with the aim of staying up-to date with latest information.
Decreasing productivity and efficiency in educational sector is one of the striking factors behind the emergence of smart education and learning concept. The global smart education and learning market is primarily driven by the factors such as increasing internet penetration, and low cost involved in e-learning. E-learning solutions are cost effective alternatives to the traditional class-room based education system, also people in remote areas, who are unable to access the traditional education system, now can access advanced e-learning solution. According to the data estimated by World Bank in 2015, the number of internet users world-wide is 3.2 billion. This estimate is on the increasing path owing to emergence of various technologies and rapid advancement in the communication methodology. Europe and Central Asia accounted for the major internet users in 2015, which is estimated about 651.5 million users.
Rise in the number of mobile users has significantly contributed in raising the demand for smart education and digital learning. Growing adoption of mobile learning application such as Udemy, Duolingo, Lynda, skill pill and others is playing a crucial role in generating significant demand for e-learning technology. Favourable policies and initiatives adopted by government sectors have also contributed in raising the demand for smart education, thereby raising the market growth. For instance, in November 2017, U.S. Government announced an investment of $75.6 million for the approval of 88 smart schools across New York. Though, innovation in technology has contributed in the development of various commercial sectors such as healthcare, manufacturing, and others. However, this trend has not affected the education sector in a positive manner owing to the economic constraints in the deployment of this concept and lack of skilled expertise among the end users.
Quality education plays a significant role in shaping successful future of a country with educational sector holding the major responsibilities. Increased enrolment of students in elementary and secondary education is mainly presenting with lucrative opportunities for smart education and learning market. For instance, according to the National Centre for Education Statistics (NCES), around 50 million students were enrolled in public schools across United States in 2015.
Growing Internet users in Europe and Asia is significantly contributing in the market growth. Rising mobile users across India and China is also contributing in the regional growth of Asia Pacific. According to the study released by GSMA, there were about 5 billion mobile phone users in 2017 worldwide. With the major population in India and China, Asia contributes for half market growth in mobile economy, thereby presenting lucrative opportunities for smart learning and educations. Various government initiatives and policies are mainly facilitating the growth of LAMEA regions. For instance: On February 2018, Panama government launched a new initiative known as Internet para todos (Internet for all) which provides free online access throughout the country.
On June 2017, Smart Technologies Inc launched a classroom suite with displays and software incorporated in it specifically to improve both learning experiences and educational outcomes.
On July 2017, Blackboard Inc launched a mobile application for instructors which provide ease in managing the course and interaction with the students.
Smart Education and Learning Market:
• Smart Class
• Online Tutoring
• Tablet Learning Solutions
• North America (U.S and Canada and rest of North America)
• Europe (Germany, France, Italy and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
• LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
• Adobe Systems Incorporated
• Blackboard Incorporated
• Educomp Solutions Limited
• Niit Limited
• Scholastic Corporation
• Smart Technologies Incorporated
• D2L Corporation
• Ellucian Company
• Saba Software Incorporated
• SunGard Data Systems Inc