Smart Teaching and Learning Market Overview
Smart teaching and learning process refers to the transformation of teaching methods from traditional class room techniques to smart learning by integrating technologies into the process. In addition, it provides flexibility to learners so that they can select the learning environment on their own. According to the study, the global smart teaching and learning market is predicted to reach $819.0 billion by 2022, with a CAGR of 23.5% during the forecast period (2016–2022).
Smart teaching and learning products include hardware, software, services, and education content. There are multiple modes of smart teaching and learning, including blended, adaptive, virtual instructor led training (VILT), collaborative, and simulation-based. In smart teaching and learning environment, the content of education is available in the form of audio, text, and video, which can be accessed through multiple applications, thereby providing flexibility to learners.
GLOBAL SMART TEACHING AND LEARNING MARKET, BY PRODUCT, $B (2014 – 2022)
The prime purpose behind the shifting focus of educational institutes toward smart teaching and learning is to improve the quality of education and harness better learning outcomes. Due to the rising demand for learning analytics solutions, such as reference management system, learning content management system, student management system, and library management system, the academic and corporate users are increasingly becoming acquainted with the advantages of smart teaching and learning tools.
Smart Teaching and Learning Market Dynamics
Smart teaching and learning tools and techniques provide a number of advantages to learners, including enhanced teaching or learning experience, flexibility in learning, access to online information and tools, and feasibility to use and share information, which are driving the smart teaching and learning market growth. Due to the growing advancement in technologies, all types of organizations are swiftly adopting such techniques to enhance skill sets of their employees and deliver a cooperative and effective learning to them. Multiple initiatives are also taken by governments to transform conventional learning methods to digital learning, which is boosting the demand for smart teaching and learning tools.
As a rising trend in the smart teaching and learning market, it is observed that the academic sector is more adaptive toward smart teaching and learning techniques in comparison to other sectors. However, a large number of corporate organizations are also adopting smart teaching and learning solutions, irrespective of their size, for better business outcomes. It is also observed that class-based training is more expensive, proportionately for small and medium organizations, so these organizations are more inclined toward smart learning as it enables both optimal time and cost management. As a result, increased demand for smart learning tools from large and small companies is being witnessed in the market.
Cost-effectiveness is the key driver for the growth of the smart teaching and learning market, globally. Initial investment on traditional education is lower than that of e-learning, but once developed, the smart learning course does not incur further cost, whereas traditional methodologies include additional cost such as the cost of trainer that is unrequired in e-learning process. Therefore, the overall cost of smart learning is very low in comparison to face-to-face training.
Other main factors accelerating the growth of the smart teaching and learning market include rising need for learning analytics applications for data collection and analysis tools in the academic and corporate sectors. Analytical applications aid in projecting the learning outcomes, reformation, and resources to strengthen the participation of all stakeholders in the learning process, combining processes, and achieving the desired educational objectives.
In Asia-Pacific (APAC), the number of virtual schools is increasing swiftly, resulting into the advanced transformation in the education system by providing learner-friendly and efficient learning experience. Through virtual schools, learners and educators from multiple regions are able to experience enhanced teaching and learning practices via audio, video, interactive, and real-time sessions over a single platform. Rapid increase in the adoption of virtual learning techniques and smart education software by the learners is the key factor for the growth of the smart teaching and learning market.
Due the increased ownership cost, most of the corporate organizations are shifting from traditional methods to smart learning tools and techniques. This advanced methodology helps in managing the cost and time.
Smart Teaching and Learning Competitive Landscape
Offerings under smart teaching and learning process comprises hardware, software, services, and educational content. Some of the key players providing software in the global smart teaching and learning market include Adobe Systems, Desire2Learn, and Educomp Solutions; while hardware providers include Samsung Electronics and Smart Technologies. Services for smart teaching and learning solutions are offered by several players, including Cisco Systems, Smart Technologies, and Samsung Electronics; whereas, education content providers include Mc-Graw Hill Corporation and Pearson PLC.
Key Questions Answered in This Report
What is the current scenario of the global smart teaching and learning market?
What are the emerging technologies for the development of the market?
What are the historical size and the present size of the market segments and their comparative future potential?
What are the major catalysts for the market and their impact during the short, medium, and long terms?
What are the evolving opportunities for the players in the market?
What are the key geographies from the investment perspective?
What are key strategies adopted by the major players to expand their market shares?