The Global Smart Education Market is estimated to grow at a significant CAGR of 15.96% over the forecast period as the scope and its applications are rising enormously across the globe. Smart Education is a system of learning and teaching using smart software. With technological enhancement and modernization, people need smarter experience that allows greater interaction. As, growing need for anytime access to information, organizations and educational institutions are adopting digital devices to share information.
Growing collaboration between educational providers and hardware vendors, technological enhancements, and growth in connectivity of the handheld devices are documented as major factors of Smart Education Market that are estimated to enhance the growth in the years to come. In addition, rising government initiatives in the developing markets like MEA and APAC and growing significance of eLearning in the corporate and academic setups are other factors that may boost overall market growth in the coming years.
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However, lack of infrastructure and resources in developing countries and lack of expertise and motivation among the end users are the factors that may restrain overall market growth in the coming years. Smart Education Market is segmented based on hardware, software, service, educational content, end user, and region.
Student Response Systems, Interactive White Boards (IWBS), Interactive Tables, and Interactive Displays are the hardware that could be explored in Smart Education in the forecast period. Assessment Systems, Learning Management System (LMS), Adaptive Learning Platform, Learning Content Management System, and other software’s could be explored in Smart Education in the forecast period. Professional services and managed services are the services that could be explored in Smart Education in the forecast period.
Video-based content, audio-based content, text content, and other educational content could be explored in Smart Education in the forecast period. The market may be categorized based on end users like corporate, academic, and others that could be explored in the forecast period. Academic sector accounted for the significant market share of Smart Education and is estimated to lead the overall market in the coming years.
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Globally, North America accounted for the substantial market share of Smart Education and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers in the region and a huge consumer base. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise government initiatives like funds for developing projects for literacy in rural areas. The developing countries like India and China are the major consumers of Smart Education in this region.
The key players of Smart Education Market are McGraw-Hill Education, Adobe Systems Incorporated, Educomp Solutions Ltd., Blackboard, Inc., and Cisco Systems, Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global Smart Education Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Blackboard
• Cisco
• Ellucian
• Instructure
• Pearson
• Samsung Electronics
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