Global smart education and learning market was valued at $144.4 Billion in 2015 and is estimated to grow at a CAGR of over 23% from 2016 to 2024.
The smart education and learning market is expected to reach a value of USD 1054.4 billion by 2024. The high growth is anticipated on account of growing demand for e-learning platforms, growing number of internet users, increasing awareness, exponential growth of smart phones, and rise in demand from corporate sector.
Furthermore, high improvement in collaboration between hardware vendors, system integrators, and introduction of new e-learning solutions is also significant contributors for the market development
The smart education and learning market is segmented based on end user as academic and corporate. The academic segment is expected to gain the maxim market share over the forecast period. The rise in demand for smart education platforms in schools, colleges and other institutes is provided thrust for the market expansion.
Based on learning modes, the collaborative learning mode is anticipated to be the largest segment. The growing importance of academic educator and collaborative environment in corporate and academics is a expected to boost the market growth over the next few years
North America Smart Education and Learning Market, By User, 2014 – 2024 (USD Million)
In 2015, North America accounted for nearly 40% of the global market. The presence of well-developed education system, presence of high funding for schools and universities,
Strong support from corporate sector is some of the key reasons attributed for the high market share of this region.
However, Asia Pacific is expected to emerge as the fastest growing region over the forecast period. Exponential rise in the number of smart phone users, growing demand for e-learning platforms, increasing awareness about the various benefits of smart education systems are expected to provide impetus for market expansion over the next few years
Based on user type, the market is categorized into K-12 (primary and secondary education), post-secondary, corporate and government learning and others. In 2015, K-12 segment accounted for nearly 50% of the market share. The growing demand from corporate sector for e-learning platforms is expected to boost the sales of these products over the forecast period.
“Optimal Price Point (OPP) for Smart Education and Learning Products”
Estimated Average solution cost – $ xx globally. However, with growth in solution implementation and increasing number of new market participants, growing collaboration between various stake holders is expected to impact the OPP and range of acceptable Prices (RAP). We at Ameri Research continuously track these prices with our proprietary pricing model.
“Notable industry participants include Teradata, SAS, SAP, IBM, Oracle and EMC”
Key players include Blackboard, Inc, Educomp Solutions Ltd., Mcgraw-Hill Education, Pearson PLC, Samsung Electronics Co., Ltd. Cisco Systems, Inc., Tata Interactive Systems Promethean, Inc, Smart Technologies, Inc. Key market participants rely on developing technology innovative solutions in order to reduce cost, increase productivity and attract new customers.
The growing usage of smart phones, improvement in technology, growing collaboration amongst content `developers, system integrators are key trends observed in the market. Further, escalating use of interactive white boards which are used for exchanging information in particular handwriting or graphics is also an emerging trend in the market.