Smart Education and Learning Market – Introduction
A very smooth and flexible learning process is replacing the traditional classroom teaching methods. Education institutes are adopting new hi-tech teaching methods which includes white boards, projectors and smart notebooks. Implementation of such technologies in classroom improves understanding of students and also engage students to learn. Coordination between hardware provider, software innovator and education material provider is making learning easy for students. Unlike traditional methods, smart education and learning methods is not bounded by number of hours, location and attendance. The smart education and learning market is defined as the combination of educational products, learning modes and applications. This market is still in the infant stage as only big institutions are receptive towards the latest technological change.
Smart Education and Learning Market – Segmentation
Smart education and learning market is classified on the basis of learning mode, product type, verticals and region. On the basis of learning mode, the smart education and learning market can be segmented into mobile learning, social learning, E-learning, simulation based learning and adaptive learning. According to product type, smart education and learning market can be segmented into hardware, software, services and educational contents. Hardware segment can be sub-segmented into display hardware and simulation-based hardware. Software segment can be sub-segmented into mobile education application, test and assessment and ERP.
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Service segment can be sub-segmented into application service, portal service and support service. Educational content segment can be sub-segmented into E-textbooks and audio and video-based courseware. By verticals, smart education and learning market is segmented into public sector, retail sector, health and care sector and banking, finance, services and insurance. Based on region, the smart education and learning market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In terms of revenue contribution, North America dominates the smart education and learning market and is expected to remain dominant over the forecast period, followed by Western Europe.
Smart Education and Learning Market – Drivers and Restraints
Growing number of mobile learning applications and learners expertise with technology and affinity towards digital learning are anticipated to drive the smart education and learning market. Moreover, improved collaboration between the hardware provider, software provider and educational material provider results in better educational technology is expected to fuel growth of the smart education and learning market. On the other hand, lack of awareness and lack of technology adoption in developing regions regarding smart education and learning is expected to hinder the growth of this market. Additionally, limited funding by the user segment is expected to hinder the growth of smart education and learning market.
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Smart Education and Learning Market – Key Players
Currently, the smart education and learning market is experiencing emergence of various service providers which is anticipated to pose a healthy competition to other well established players. Some major players that are contributing significantly to the smart education and learning market are Blackboard Inc., Educomp Solutions Ltd., Adobe Corporation, Scholastic Corporation, Cisco System Inc., Smart Technologies Inc., NIIT Ltd. and Saba Software Inc. Major players such as Cisco System Inc. and Adobe Corporation follow strategy of acquisitions and mergers to enhance their market presence globally and expand their product portfolio.