Market Highlights
The smart education and learning market has grown by 20 percent in only 2 years, and it will continue to develop at this rate with a CAGR of 26percent between 2017 and 2023 is predicted, and the market is expected to rise to $952 billion by the end of the year 2023.
Because of technological advances, individuals all over the globe have begun to use smart education and learning as a new way to acquire knowledge, one that relies on educational applications and software. Learners throughout the globe may now benefit from contemporary technology-enhanced education and learning. Classroom instruction is being phased out as part of this educational revolution.
Several factors fuel the expansion of global smart education and learning business in the United States and abroad. One of the primary drivers is the increase in device connection. Another major driver is the fast expansion of mobile learning apps. An increasing number of educational choices, such as tests and quizzes and expert-led online seminars, are fueling the popularity of smart education and learning. The administration's efforts to teach students and technical advancements in the business are other contributing factors.
Colleges and universities have become more technologically sophisticated due to global disruption. For several years now, schools and universities have been using tools such as Hangout and Zoom to allow students to study from the comforts of their own homes. Covid-19 has a favorable effect on expanding the smart education and learning sector.
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Segmentation:
It has been classified into six categories to understand better the smart education and learning market: product, learning mode, age, implementation, end-users, and regions. The growth in distinct segments helps you get information about the many growth elements projected to be prominent across the industry and design different techniques to help determine the significant possible applications and the distinction in the customer base.
Service-based businesses accounted for 73percent of the market's revenue in 2019. Instructors and learners in South Africa's Western Cape Province may use an e-learning site that includes various materials in both Afrikaans and English.
Regional Classification
Regional analysis is used in a wide range of research conducted across various continents throughout the globe and is divided into North America, the Asia Pacific, and the rest of the world.
Having several major corporations in the area will significantly influence the local economy. The growing popularity of online channels and home education, particularly in the U.s., will positively impact the regional market's development. Coronavirus instances in the United States have just been essential in the product's broad acceptance and consequent market expansion because of the growing number of cases in the country. Currently, the North American market is valued at USD 68.54 billion, and this figure is expected to rise in the following years.
Industry News
To assist Blackboard's customers with the transition to Blackboard Learn Ultra in June 2021, the company teamed with K16 Solutions, an educational technology company.
The Speak Out for Sustainability campaign was launched by Pearson and BBC Studios in April 2021. Students and educators from all around the globe will be involved in this project, which aims to increase public awareness of critical environmental concerns.
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Smart Education and Learning Market, By Software (Assessment Services Adaptive Learning Platform), By Hardware (Student Response System), By Service (Professional Service), By Application (Professional Services) - Forecast 2027
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