Press release
Pockets Sales Forecasts of Smart Learning Market Reveal Positive Outlook Through 2026
Smart Learning Market
Smart Learning Market Drivers: Growing acceptance of e-learning in academic & corporate sectors along with technological improvements in smart education is the major driver for the global smart learning market growth. In addition, smart learning has observed a growth in its adoption due to several benefits including convenience and improved focus of learners. Moreover, it has empowered both students and teachers to enhance their efficiency and productivity. These abovementioned factors will boost the market growth in the projected time. In addition, growing trend of emergence of bring your own devices (BYOD) is estimated to rise the implementation of smart education and learning platforms, creating growth opportunities in the global market. Furthermore, growing number of virtual schools across the globe is also further estimated to fuel the market growth in the coming years.However, heavy investments are needed for implementation of advanced teaching technologies, which is a major restraining factor for the growth of the smart learning market.
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Software component segment registered the highest global smart learning market share in 2018; it was valued at $7,898.8 million and is projected to generate a revenue of $33,009.7 million till 2026. Software based online platforms provide digital classrooms with enabled virtual reality, and this softwareis widely being used in smart schools and emerging educational institutions.This factor is projected to drive the smart learning market growth in the coming years. Services component segment will garner up to $19,286.6 million in 2026 and is anticipated to grow at a health rate of 19.4% CAGR during the forecast timeframe.
Asynchronous segment will witness to grow at a rate of 20.6% CAGR and is projected to generate a revenue of $37,905.5 million by the end of 2026. Asynchronous learning can enable student & teacher collaborations and is available in both offline and online modes; this aspect will further help to enhance the market size in the forecast period. Synchronous segment accounted for evident market share in 2018 and is projected to experience a healthy growth throughout the projected time. This growth is attributed to major benefits of synchronous learning such as classroom engagement, dynamic learning and enabling regular & frequent interactionof students with professors.
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The smart learning market for enterprise segment will experience a noteworthy growth and will reach up to $35,160.9 million by 2026, growing with a significant rate of 21.5% CAGR. Most of the multinational enterprises are increasing adoption of smart learning tools to train and employees, thereby reducing their total expenditure because such enterprises are located at several places. The market for academic segment held the highest smart learning market size and is projected to generate a revenue of $39,273.6 million till 2026 with a 17.4% CAGR. Growing demand for online learning tools in the academic segment and increasing adoption of smart learning tools by most of the educational institutes is anticipated to impel the academic smart learning market growth in the projected time.
North America held largest smart learning market share in 2018, which was over 32.0% and is predicted to retainits dominance over the global market throughout the forecast time. The growth is attributed to the presence of well-established education infrastructure along with significant manufacturers in the North America. In addition, significant rise in the number of mobile education applications along with rapid growth in the technological innovations due to internet penetrations is projected to boost the market growth in the coming years. Asia-Pacific market is anticipated to generate significant revenue and is anticipated to reach up to $17,654.6 million by the 2026. Growing awareness about digital education platforms delivering massive support for the implementation of smart learning process by the educational organizations is estimated to boost the market growth in Asia-Pacific.
The major smart learning market players include SMART Technologies ULC, IBM, Saba Software, Huawei Technologies Co., Ltd, Cornerstone, McGraw-Hill, Alphabet, SAP, Blackboard Inc., Adobe, SAMSUNG, Oracle, BenQ, Microsoft, CrossKnowledge and Pearson. These players are implementing several strategies such as new product launches, collaboration & partnerships, R&D investments and joint ventures to gain majority of market share in the global market.
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