The smart learning & education market is projected to expand at an astonishing CAGR of ~24% during the forecast period. S
Smart Learning & Education Market: Introduction
Transparency Market Research delivers key insights on the global smart learning & education market. In terms of revenue, the global smart learning & education market is estimated to expand at a CAGR of ~24% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global smart learning & education market.
Smart learning is a broad concept for education. It represents how advanced technologies help learners to more easily, efficiently, and conveniently ingest information and skills. Smart education, a term used in the digital era to characterize learning, has increased interest of many researchers. The aim of intelligent education is to enable intelligent learners in the 21st Century to meet the needs of work and life.
The growing integration of smart solutions in the education sector is a major factor that drives the smart learning & education market. Smart learning & education market provides the best path for higher education, as it ensures the brightest future. With the help of non-traditional approaches, it was witnessed that the number of higher education institutions are already reaching out to more learners; this trend will gain more traction in the upcoming years.
Smart Learning & Education Market: Dynamics
The growing adoption of various technologies such as cloud computing and AI, along with Internet penetration in the education sector drives the demand for smart learning & education. However, the smart learning & education market faces challenges due to uncertainty of educational policies across countries. Slow Internet connection and poor connectivity in rural areas negatively impact the growth of the market. It has been observed that smart learning is only accessible on smartphones or computers. Thus, students living in rural areas face challenges to learn from smart learning. For instance, according to a survey, more than 47 percent of students still live in rural areas. Students face challenges to learn from smart learning techniques due to poor network connectivity.
However, the smart learning & education market provides several benefits to learners, which include improved teaching or learning experiences, learning accessibility, access to online data and tools, and viability of using and exchanging knowledge. This is likely to drive the smart learning & education market in the near future.
Smart Learning & Education Market: Prominent Regions
The smart learning & education market in North America is expected to account for the largest share during the forecast period, due to rising digitalization in the educational sector and presence of major market players in the region. In addition, the U.S. Government has increased investment in the educational sector, which is fuelling the growth of the smart learning & education market.
The smart learning & education market in Asia Pacific is likely to expand at the highest CAGR during the forecast period, due to adoption of smartphones in developing economies, which has increased enrolment of students in online learning platforms. This factor will further fuel the growth of the smart learning & education market in the region. The Europe market is projected to rise at a notable CAGR during the forecast period, owing to rising government support toward the transformation of traditional learning to advanced learning in the region, which leads to growth of the smart learning & education market.