PUBLISHER: The Business Research Company | PRODUCT CODE: 1539793
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539793
Smart learning is an educational approach that harnesses advanced technologies to create personalized, adaptive, and engaging learning experiences. It utilizes tools such as artificial intelligence (AI), machine learning, big data, and the Internet of Things (IoT) to customize educational content and methods according to individual learners' needs, preferences, and progress. The goal of smart learning is to improve the effectiveness, efficiency, and accessibility of education.
The primary types of smart learning include online learning, offline or classroom-based learning, and blended learning. Online learning involves virtual education where students access educational content and interact with instructors and peers through digital tools and platforms. These offerings encompass hardware, solutions, and services catering to diverse end-users such as academic institutions, K-12 education, higher education, and corporate sectors.
The smart learning market research report is one of a series of new reports from The Business Research Company that provides smart learning market statistics, including smart learning industry global market size, regional shares, competitors with a smart learning market share, detailed smart learning market segments, market trends, and opportunities, and any further data you may need to thrive in the smart learning industry. This smart learning research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart learning market size has grown exponentially in recent years. It will grow from $42.97 billion in 2023 to $51.65 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The increase observed in the historical period can be credited to several factors such as rising demand for online and remote learning tools, advancements in artificial intelligence (AI) and machine learning, greater adoption of advanced technologies, government backing for smart education initiatives, the expanding BYOD (bring your own device) culture, and the widespread use of connected devices.
The smart learning market size is expected to see exponential growth in the next few years. It will grow to $108.74 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The anticipated growth in the forecast period is driven by government investments in digital infrastructure, advancements in computing power, developments in big data and data storage technologies, and the integration of digital technologies into manufacturing processes. Key trends expected during this period include the expanding adoption of advanced technologies, the increasing prevalence of bring-your-own-device (BYOD) practices, and the growing incorporation of AI-supported personalized educational experiences.
The increasing adoption of smartphones and tablets is poised to drive the growth of the smart learning market in the foreseeable future. Smartphones and tablets are portable electronic devices widely utilized for communication, entertainment, education, and work, owing to their accessibility and advanced capabilities. Their popularity stems from factors such as portability, convenience, multifunctionality, touchscreen interfaces, mobile payment options, and the proliferation of educational apps. Smartphones and tablets play a crucial role in smart learning by offering flexible, personalized, and engaging learning experiences that cater to the preferences and needs of contemporary learners. For instance, a report from Cybercrew.UK, a UK-based digital media company, forecasts that the percentage of UK households using smartphones will increase from 91.43% in 2021 to 93.8% by 2026, underscoring their growing prevalence. Consequently, the widespread adoption of smartphones and tablets is a key driver behind the expansion of the smart learning market.
Major companies in the smart learning market are focusing on developing innovative solutions such as AI-supported learning dashboards. These solutions aim to enhance the educational experience by offering personalized learning paths, real-time student progress tracking, and customized feedback to improve learning outcomes. AI-supported learning dashboards utilize artificial intelligence technologies to provide detailed insights and analytics into student performance, engagement levels, and overall learning achievements. For example, in October 2022, Youdao Inc., a technology company based in China, launched its latest intelligent learning tool, the Youdao Smart Learning Pad X10. This device integrates AI to facilitate personalized learning experiences, featuring adaptive algorithms that adjust content based on individual learning progress and preferences. It supports a variety of educational applications, interactive lessons, quizzes, and multimedia content, offering a user-friendly interface and high-resolution display to enhance immersive learning experiences.
In April 2024, LEORON Institute, an EdTech company based in the UAE, completed the acquisition of XpertLearning for an undisclosed sum. This strategic move enables LEORON Institute to broaden its footprint and enhance its service offerings in the corporate training and development sector across the Middle East. By integrating its proficiency in professional training with XpertLearning's technology-driven solutions, LEORON aims to deliver more comprehensive and innovative services to its clientele. XpertLearning, based in the UAE, specializes in providing e-learning content and platform solutions, complementing LEORON Institute's strategic goals in expanding its educational capabilities.
Major companies operating in the smart learning market are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Dell Technologies Inc., Amazon Web Services (AWS), International Business Machines Corp., Cisco Systems Inc., Oracle Corp., SAP SE, Yellow Corp., Pearson plc, Citrix Systems Inc., Ellucian Company, Blackboard Inc., Pharrell Williams, Promethean World Ltd., SMART Technologies ULC, D2L Corporation, ByteXL India Private Limited
North America was the largest region in the smart learning market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart learning market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart learning market consist of revenues earned by entities by providing services such as personalized learning paths, AI-powered tutoring, interactive content, and adaptive assessments. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart learning market also includes sales of adaptive learning platforms, AI-powered tutoring systems, digital assessment tools, and gamified learning apps. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart learning Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart learning market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart learning ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart learning market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.