Smart Teaching and Learning Market Is Projected to reach $819.0 Billion by 2022

The smart teaching and learning market size is set to reach $819.0 billion by 2022, growing at a CAGR of 23.5% between 2016-2022. The market is driven by factors such as surging use of analytical applications, virtual schools and increasing penetration of cloud-based learning analytics. In terms of product, the smart teaching and learning market is segmented into hardware, software, services and education content. Software has been the largest contributor to the market, whereas the market for services is expected to witness the highest growth during 2016 - 2022. Growing demand for learning analytics, cloud solutions, digital libraries and increased alignment with education standards is expected to drive the growth of services segment in smart learning and education industry in near future. Additionally, factors such as speed of implementation, savings on capital expenditures and operational expenses will also contribute to the growth of smart teaching and learning services market, globally.

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Integration of cloud computing with technology is a major trend. In relation to smart learning, cloud-based Learning Management Solutions (LMS) are attaining acceptance and have the capacity to reduce the operational costs. Cloud-based software solutions also improve responsiveness and amalgamation, contributing to the seamless use of smart education tools and software. Therefore, a significant number of educational institutions, especially in developed regions, are shifting their learning analytics to the cloud. These extensive operational, strategic, and economic benefits of cloud-based learning analytics are attracting many educational institutions to adopt these solutions and thereby driving the growth of the smart teaching and learning market.

The Asia-Pacific market for smart teaching and learning is projected to grow at a CAGR of 24.1% during the forecast period, to reach $242.1 billion by 2022. Among the countries of the Asia-Pacific region, China has been the largest smart teaching and learning market in Asia-Pacific in 2015, whereas the market in India is expected to witness the fastest growth during the forecast period. The strong government initiatives pushing student enrolments in higher education and distance learning are expected to propel market expansion at higher rates across the country. Integration with talent management, adoption of smart technology, and augmenting demand for content and literacy development are the major factors expected to drive the market growth in the region. Besides, increasing internet penetration, low-cost existing coverage and rising demand for digital education is also expected to spur the market growth during the forecast period.

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Major players offering software products for smart teaching and learning market include Adobe Systems, Desire2Learn and Educomp Solutions, while hardware providers include Samsung Electronics and Smart Technologies. Services of smart teaching and learning solutions are being offered by Cisco Systems, Smart Technologies and Samsung Electronics, and the education content providers include Mc-Graw Hill Corporation and Pearson, PLC.

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