PUBLISHER: Allied Market Research | PRODUCT CODE: 1344259
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344259
According to a new report published by Allied Market Research, titled, "Smart Education and Learning Market," The smart education and learning market was valued at $259.98 billion in 2022, and is estimated to reach $1359.9 billion by 2032, growing at a CAGR of 18.4% from 2023 to 2032.
Surge in demand for online and remote learning tools and favorable government initiatives and corporate fundings to promote smart education are driving the growth of the market. In addition, the increase in need for interactive and personalized learning environment is fueling the growth of the smart education and learning market. However, Lack of digital literacy and skills and data privacy and security concerns limits the growth of this market. Conversely, rise in implementation of AR and VR technology in the education sector is anticipated to provide numerous opportunities for the expansion of the market during the forecast period
The global smart education and learning market is segmented into component, learning mode, end user, and region. Based on component, the market is divided into software, services, educational content, and hardware. On the basis of learning mode, it is categorized into virtual instructor-led training, simulation-based learning, social learning, blended learning, adaptive learning, and collaborative learning. By end user, it is divided into academics and corporate. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global smart education and learning market is dominated by key players such as Adobe Systems Incorporated, Blackboard Inc, Cisco Systems, Inc, Desire2Learn Incorporated, Educomp Solutions Limited, Ellucian Company L.P, NIIT Limited, Saba Software, Inc, SMART Technologies Inc, Unit4 Business Software Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.