Smart Education and Learning Market to Remain Key Determinant of Success

Owing to the presence of a large number of educational institutions offering similar products and the fragmented state of the competitive landscape, the intensity of competition in the ASEAN smart education and learning market is high, observes a recent report by Transparency Market Research.

Government initiatives aimed at strengthening online education and smart education facilities through ICT infrastructure development policies and grants in several ASEAN countries have facilitated the entry of a large number of players in the market in the past few years. Focus on product differentiation will be crucial for companies wanting to make the most of the vast growth opportunities the market offers.

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Transparency Market Research estimates that the ASEAN smart education and learning market will exhibit a remarkable 19.7% CAGR over the period between 2016 and 2020.

At this rate, the market, which valued at US$36.84 bn in 2015, is expected to reach US$88.97 bn by 2020. In terms of delivery model, the segment of desktop/mobile-based solutions leads, accounting for a nearly 67% of the market in 2015. In terms of geography, the market in Malaysia is presently the dominant contributor of revenue to the overall market.

Rising Population of Smartphone Users and Technologically-aware Consumers to Drive Market

Of the several factors known to have a sizeable impact on the development of the ASEAN smart education and learning market, the growing penetration of smartphones coupled with high-speed internet takes the top spot.

Easy accessibility and affordability of smartphones has been one of the chief factors driving the increased utilization of mobiles in the education sector in the region in the past few years. Strong information and communications technology (ICT) infrastructure in countries such as Singapore, Malaysia and Thailand are further aiding the use of technology for education purposes.

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Integration of ICT in schools and implementation of projects integrating smart education and learning solutions are increasing at an exponential rate. Through the use of smart tools such as tablets, smart boards, smart tablets, digital whiteboards and virtual reality in classrooms, educational institutions are making learning more technology oriented and interactive. Such developments are providing growth to digital learning solutions, thus driving the smart education and learning market.

Government initiatives towards improvement of ICT infrastructure and towards the promotion of smart education are also fueling the growth of the smart education and learning market.

Additionally, the launch of the ASEAN Economic Community (AEC) has led to an increased demand for English language learning among ASEAN member countries as a result of English being the official language of the AEC.

Furthermore, the introduction of massive open online courses (MOOCs) offered by renowned foreign institutions are generating a huge demand for online courses in the region, hence driving the increased demand for smart education and learning solutions.

Need for High Initial Expenditure for Smart Tools and Hardware Restricts Market Growth

The deployment of software, tools, and hardware required to start a smart learning facility can require substantial initial investment. As most such tools involve state-of-the-art technology, they are commonly expensive and might not be affordable for a number of end-users such as small-scale institutions or learning centers. The high cost of smart education and learning tools therefore poses as a hindrance to the development of the smart education and learning market.

The availability of a vast number of online courses and e-learning tools can be a factor leading to confusion among consumers regarding the selection of the right course and platform. This factor is also expected to restrain the growth of the market to a certain extent.

Nonetheless, virtual reality-infused classrooms are expected to offer promising growth opportunities for the market in the future. Also, application of cloud computing in smart education coupled with real-time analytics is expected to present promising growth opportunities.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.