MarketsandMarkets, a global market research and consulting company that publishes strategically analyzed market research reports, recently released a report, "Smart Education & Learning Market by Hardware (IWB & SBL), Software (LMS/LCMS, Open Source & Mobile Education Apps), Educational Content (Digital Content, Test And Assessment & Digital Text Book) - Global Advancements, Market Forecast and Analysis (2014 - 2019)." The report defines and segments the global smart education market into various sub-segments with an in-depth analysis and forecasting of market sizes. Find an excerpt from the press release below.
As technology continues to develop, it brings with it latest opportunities and challenges for educators and students. The biggest challenge for education institutions is the difficulty in adopting a secure infrastructure and the lack of digital fluency among institutions towards the latest technological trends. Budget cuts continue to emerge for many K-12 and higher education institutions as they are largely dependent on state funding. Educational institutions lack IT governance which is essential for making the right decision while adopting products and software solutions. The vendors in the Smart Education & Learning Market are constantly innovating and remodeling their current planning to build more proficient and modern information systems. Major vendors in the Smart Education & Learning Market are Blackboard, Smart Technologies, EduComp Solutions, Three Rivers Systems, NIIT Limited, Scholastic Corporation, Saba Software, Ellucian, Cisco Systems and Adobe Corporation among various others. The major forces driving this market are emergence of digital education, progression of interactive learning systems, growth of educational apps, and online and blended learning.
The education sector is no longer involved with the conventional form of teaching. The model of education has shifted and is now surrounded by digital technology. Schools and universities permit students to bring their own devices making learning more engaging and interactive.
MarketsandMarkets broadly segments the global Smart Education & Learning Market by regions: North America(NA), Asia Pacific (APAC), Europe Middle East and Africa (EMEA), and Latin America (LA); by products: hardware, software, services, educational content; by application: Prek-12, higher education, enterprise/business education, government, healthcare and others; by learning modes: self paced e-learning, virtual classroom or webinars, mobile learning, collaboration based learning, social learning, simulation based learning and game based learning.
MarketsandMarkets forecasts the global Smart Education & Learning Market to grow from $121.53 billion in 2014 to $344.94 billion in 2019. In terms of regions, North America is expected to be the largest market in terms of market size, while Europe and Asia-Pacific (APAC) are expected to experience an increase in market traction, during the forecast period. APAC is expected to experience a high growth rate and adoption trend in this market.
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