Smart Education and Learning Market Expected to Reach USD 994 Billion By 2024 | Saba Software, Inc, SMART Technologies Inc

According to a recent report published by Allied Market Research, the global smart education & learning market was valued at $240 billion in 2017, and is projected to reach at $994 billion by 2024, growing at a CAGR of 22.7% from 2018 to 2024. In 2017, the educational content segment accounted for the highest revenue share in the smart education & learning market.

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Increased acceptance of e-learning in corporate & academic set-ups, proactive government initiatives for the promotion of e-learning in developing markets, technological advancements in smart education & e-learning, and growth in several mobile learning applications majorly contribute towards the growth of the market. However, factors such as security & privacy concerns and high cost of implementation hamper the growth of the smart education & learning market.

Based on component, the educational content segment dominated the global market in 2017, and is expected to continue this trend during the forecast period, owing to the emergence of digital learning libraries and increase in emphasis on personalized learning. Furthermore, the services segment is expected to grow at the highest CAGR during the forecast period, owing to increase in adoption of software-as-a-service trend.

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The global smart education & learning market was led by the academics segment in 2017, and is projected to maintain its dominance during the forecast period. However, the corporate segment is expected to witness the highest growth, owing to surge in adoption of smart education & learning to impart corporate training through a range of online training courses.

In 2017, the global market was dominated by the virtual instructor-led training segment, and is expected to remain dominant during the forecast period. However, the adaptive learning segment is expected to witness the highest growth, owing to increase in need for individualized learning.

The key players operating in the global smart education and learning market include Adobe Systems Incorporated, Educomp Solutions Ltd., NIIT Limited, Smart Technologies, Inc., Blackboard, Inc., Ellucian Company L.P., Saba Software, Inc., Unit4, Desire2Learn Corporation Ltd., and Cisco Systems, Inc.

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Key Benefits for Stakeholders:

• This study includes the analytical depiction of the global smart education and learning market along with current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities.

• The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.

• Porter's Five Forces analysis illustrates the potency of buyers & suppliers in the global smart education and learning industry.

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