The global smart teaching and learning market is expected to grow from $190.0 billion in 2015 to $819.0 billion by 2022. Owing to the advancement in technologies and to sustain in competitive business environment, all types of organizations, irrespective of the company size, are swiftly adopting smart teaching and learning tools. These tools are one of the trending techniques that consist of hardware, software, services, and education content.
This learning method enables education management to enhance the efficiency by restructuring learning processes and practices, keeping a track on the processes, streamlining operations, ensuring transparency within all parties in the education value chain, and measuring the performance of institutes. Also, to achieve the desired education outcomes, schools and other higher institutes are proactively implementing the advanced smart teaching and learning techniques.
Insights into market segments
Consumers around the globe are more inclined toward combined mode of learning, where the academic industry is generating the highest revenue in the smart teaching and learning market. Basically, combined learning mode is an amalgamation of both class room and smart learning processes and techniques.
Depending upon user type, the academic market was dominated by K-12 schools, which held the largest share in the market in 2015. However, in the corporate market, the demand for smart teaching and learning products and techniques is increasing rapidly in small and medium enterprises for the need of better business outcomes. Whereas, on the basis of products, the software category contributed the highest revenue to the smart teaching and learning market in 2015.
North America led the smart teaching and learning market
Globally, the North American smart teaching and learning market held the largest share in 2015. Also, the corporate and the academic sectors in North America are shifting from conventional methodology to rapidly implementing analytical solutions for data management. Analytical solutions of these sectors include learning content management system, learning management system, employee management system, student management system, and library management system. Such solutions help these sectors with the objective of providing collaborative and competent learning. The rapid increase in the demand for analytical solutions is predicted to catalyze the growth of the market in the U.S. Amalgamation of cloud computing in learning analytics has also been noted as a key market trend in North America.
Rising demand for learning analytics accelerates the market growth
The demand for learning analytics applications is rapidly increasing among corporate and academic categories of the smart teaching and learning market, where applications are used as an analysis and data tool. This is observed as a major driving factor for the growth of the market. Analytical applications enable users in obtaining prediction about outcomes of learning, reformation, and resources to reinforce the participation of all stakeholders in the process of learning, combining processes, and achieving the targeted educational objectives.
Academic analysis basically allows institutions to respond to a large range of emerging questions, on topics related to institutional proficiency, operational efficiency, and institutional effectiveness. It also provides multiple benefits to learners and educators such as providing whole information about students, faculties, programs, curricula, operations, and budgets. In corporate organizations, learning analytics include complete information of the organizations’ policies, employees, events, and meetings.
It has been noted that e-books are swapping traditional print books, due to the growth in adoption of digitization in smart learning environment. Educational technologies are playing a vital role in the replacement of traditional methods and adoption of new solutions. Owing to the growing demand for cloud-based analytics solutions, the smart teaching and learning market is equipped with multiple opportunities. In context to smart learning, cloud-based learning management solutions are gathering more acceptance and are allowing the businesses in reducing operational costs. A large number of organizations and industries are shifting their businesses toward cloud-based learning analytics, because the cloud-based software enhances technical awareness and integration, adding to the continuous use of smart educational tools and software.
Smart Teaching and Learning Market Competitive Landscape
In the research, it is observed that the rivalry among competitors in the smart teaching and learning market is moderate, due to the existence of moderate number of players operating across the globe. The smart teaching and learning tools include software, hardware, services, and education content, where it is not necessary that all of the products or tools are available via single vendor. Some of the vendors could provide hardware and some could provide software, but it is also possible that one vendor is offering two or three products.
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 of smart teaching and learning solutions are offered several players, including by Cisco Systems, Smart Technologies, and Samsung Electronics; whereas, education content providers include Mc-Graw Hill Corporation and Pearson PLC.
SMART TEACHING AND LEARNING MARKET SEGMENTATION
Market Segmentation by Product
Market Segmentation by User Type
Market Segmentation by Learning Mode
Market Segmentation by Geography