According to a new market research report “Global Smart Teaching and Learning Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Product (Hardware, Software, Services and Education Content), by User Type (Academics and Corporates), by Learning Mode (Blended, Adaptive, Virtual Instructor Led Training, Collaborative and Simulation-Based)” published by P&S Market Research, the global smart teaching and learning market is projected to reach $819.0 billion by 2022, growing at a CAGR of 23.5% during 2016 - 2022.
Explore Report Description at: https://www.psmarketresearch.com/market-analysis/smart-teaching-and-learning-market
Global smart teaching and learning market worth $190.0 billion in 2015
As per the research, the global smart teaching and learning market is likely to grow from $190.0 billion in 2015 to $819.0 billion by 2022. Organizations are rapidly adopting smart teaching and learning products, regardless of the company size in order to provide effective and interactive learning to their employees, however, the global market for smart teaching and learning is dominated by academic segment. Usage of smart teaching and learning products in corporate sector is generating competitive advantages. Smart teaching and learning products include software, hardware, services and education content. Smart teaching and learning software help education management to manage and reduce risk, provide ability to improve efficiency by streamlining operations, ensure transparency for all parties to the education value chain and provide the ability to track institutional performance against its mission. Hence, schools as well as higher education institutes are increasingly adopting smart teaching and learning products to improve education outcomes.
Insights on market segments
As per the findings of research, the blended learning mode has been globally the largest adopted learning mode of smart teaching and learning, and academic users have been the largest revenue generator for the market. Blended learning mode combines the techniques of traditional teaching and learning with smart teaching and learning to improve the overall efficiency. Based on the user type, academic market for smart teaching and learning was dominated by K-12 schools, which made the highest contribution to the overall market. However, small and medium enterprises are also increasingly adopting smart teaching and learning products and techniques for better learning outcomes. Among all the products of smart teaching and learning, software solutions contributed the largest revenue to the global smart teaching and learning market.
North America stand as the largest smart teaching and learning market
Geographically, North America has been the largest market for smart teaching and learning. It has been observed that the academics and corporate markets for smart teaching and learning in North America are increasingly adopting analytical solutions for data management. Increasing adoption of analytical solutions is expected to drive the growth of smart teaching and learning market in the U.S. The analytical solutions of this market include learning management system, learning content management system, student management system, employee management system, library management system and others. These solutions support the business organizations and academics segment with the objectives of providing interactive and efficient learning. Integration of cloud computing in learning analytics has also been observed as a major trend in North America.
Growing need for learning analytics applications bolsters market growth
The factors driving the growth of the smart teaching and learning market include the growing need for learning analytics applications to be used as data collection and analysis tools by academics and corporate market segments. Analytical applications help in acquiring prognostication about learning outcomes, restructuring, and escalation of resources to strengthen the participation of all stakeholders in the learning process, consolidating processes and accomplishing the embossed educational objectives. Learning analytics, the growing exteriorization of learning activity, is driven by the add-on attention on online learning. Academic analytics help institutions to answer a wide range of burning questions, on topics relating to operational efficiency, institutional effectiveness and performance against mission. It provides many benefits to educators and learners such as providing complete information about student faculty, curriculum, programs, operations and budgets. The corporate benefits of learning analytics help with managing the complete information about employees, organization’s policies, events and meetings.
The increasing need for cloud based analytics solutions creates ample opportunities for the market. Integration of cloud computing with technology is a major trend. In relation to smart learning, cloud based Learning Management Solutions (LMS) are gaining acceptance and have the capacity to reduce the operational costs. Cloud-based software solutions also improve responsiveness and amalgamation, contributing to the seamless use of smart education tools and software. Therefore, a significant number of educational institutions, especially in developed regions, are shifting their learning analytics to the cloud.
It has also been observed that E-books are replacing traditional print or text books because of digitization of education in smart learning environment. Education technology is playing an important role in the drive for shifting the focus from print textbooks to e-books. Due to the increased prices of textbooks, schools are quickly adopting different solutions.
Moderate intensity of rivalry
The research states that the intensity of rivalry globally is moderate due to large number of regional players and moderate number of players operating. The global smart teaching and learning products include software, hardware, services and education content. In smart teaching and learning market, a single vendor is not necessarily offering all the products of smart teaching and learning. Some of the vendors offer software products, while some of them offer hardware or services or education content. However, it is also probable that one vendor is offering two or three products out of them.
Major players offering software products for 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 being offered by Cisco Systems, Smart Technologies and Samsung Electronics, and the education content providers include Mc-Graw Hill Corporation and Pearson, PLC.
GLOBAL SMART TEACHING AND LEARNING MARKET SEGMENTATION
By User Type
By Learning Mode