Smart Education and Learning Market to Show Exponential Growth by 2032
Smart Education and Learning Market
WILMINGTON, DE, UNITED STATES, August 1, 2024 /EINPresswire.com/ -- The smart education and learning market was valued at $259.98 billion in 2022, and is estimated to reach $1359.9 billion by 2032, growing at a CAGR of 18.4% from 2023 to 2032.
The corporate segment is expected to experience significant growth in the coming years, owing to the rapid adoption of remote working, enterprise mobility, and BYOD endorsing video-conferencing, discussion forums, and online training across end users to deliver cost-effective, collaborative online training to their employees.
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Smart education and learning emphasize shifting the focus from traditional teacher-centered instruction to online learning approaches. Smart education and learning prioritize individual learner needs, interests, and preferences. It involves providing personalized learning pathways, adaptive content, collaborative opportunities, and self-directed learning experiences to empower learners and promote active engagement in the learning process. It offers flexible learning options that fit the diverse needs of learners. Online courses, asynchronous learning, and mobile learning enable learners to study at its own pace and schedule. This flexibility accommodates working professionals, students with busy schedules, and individuals with other commitments.
Surge in demand for online and remote learning tools and favorable government initiatives and corporate fundings to promote smart education are driving the growth of the market. In addition, the increase in need for interactive and personalized learning environment is fueling the growth of the smart education and learning market. However, Lack of digital literacy and skills and data privacy and security concerns limits the growth of this market. Conversely, rise in implementation of AR and VR technology in the education sector is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
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On the basis of region, the smart education and learning market was dominated by Europe in 2022 and is expected to retain its position during the forecast period, due to increase in adoption and growth of advanced and latest technologies such as cloud computing, AI, and ML. However, Asia-Pacific is expected to witness significant growth during the forecast period, due to the widespread adoption of cloud computing technologies and data and analytics for delivering better performance in virtual learning, which is expected to fuel the market growth in this region.
The global smart education and learning market is dominated by key players such as Adobe Systems Incorporated, Blackboard Inc, Cisco Systems, Inc, Desire2Learn Incorporated, Educomp Solutions Limited, Ellucian Company L.P, NIIT Limited, Saba Software, Inc, SMART Technologies Inc, Unit4 Business Software Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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