MarketsandMarkets forecasts the global Smart Learning Market size to grow from USD 36.7 billion in 2021 to USD 95.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.0% during the forecast period. The rising significance of online-based learning in various economies, the increasing urbanization in emerging and developed economies, coupled with a growing middle-class population, and the increasing adoption of advanced technologies to make the learning experience more interactive and engaging are key factors for the growth of Smart leaning market.
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By Component, the Hardware segment to hold the larger market size during the forecast period
The Hardware segment of the Smart Learning Market is projected to hold the larger market size in 2021. The Smart Learning market consists of hardware such as tablets, smartphones, laptops, personal digital assistants (PDAs), and notebooks, which help learners and teachers communicate using devices. The hardware segment is further classified into four sub-segments, namely interactive displays, interactive whiteboards, smartboards, and other hardware.
By Standalone Solutions, the LMS/LCMS segment to record the highest market size in 2021
Under the Standalone Solutions segment, the Learning Management System (LMS)/Learning Content Management System (LCMS) segment is expected to dominate the market during the forecast period. They solutions allow institutions to access educational content online, thereby enabling students to view materials using the web browser. LMS also includes features such as course management, test and assessment, and performance management for an efficient learning experience.
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Unique Features in the Smart Learning Market
Intelligent educational platforms were utilising machine learning algorithms and artificial intelligence (AI) to assess each student’s unique learning style. In order to meet the specific requirements and preferences of every learner, personalised learning paths were able to be created.
A growing number of people were using adaptive learning systems, which modify the degree of difficulty of the material according to a learner’s performance and development. Through the provision of customised challenges and assistance, these technologies sought to maximise the learning process.
A crucial component of the smart learning market was mobile learning solutions. The goal of platforms and apps is to increase accessibility and enable anytime, anywhere learning by delivering educational information to users’ mobile devices.
To increase participation, clever learning methods included gamified and interactive components. Gamification strategies were applied to increase the effectiveness and enjoyment of the learning process, including leaderboards, badges, and quizzes.
One noteworthy trend was the fusion of augmented and virtual reality technology. Immersion learning experiences were created using VR and AR, enabling students to interact with 3D models and explore virtual settings to gain a deeper knowledge of subjects.
Major Highlights of the Smart Learning Market
A major change towards the digital transformation of education was occurring in the smart learning business. Utilising technology to improve instruction and learning, educational institutions have been doing so more and more.
Both at academic institutions and in business environments, the use of online learning platforms was growing. Numerous courses, from standard subjects to specialised skill training, were available on these platforms.
There was a strong need for tools for producing and disseminating online courses. Trainers and educators were able to create dynamic and captivating digital content for students thanks to content production tools.
Smart learning systems were progressively incorporating AI technologies. Personalised recommendations, intelligent tutoring programmes, and adaptive learning pathways catered to the need of specific students were among the AI-driven features.
In order to increase user engagement, gamification tactics like leaderboards, points, and badges were frequently used. Learning was made more enjoyable with the use of interactive challenges and educational games.
Top Key Companies in the Smart Learning Market
The key and emerging market players in the Smart Learning market include Blackboard (US), IBM (US), Samsung (South Korea), SMART Technologies (US), Adobe (US), Microsoft (US), Oracle (US), SAP (Germany), Google (US), BenQ (Taiwan), Cornerstone OnDemand (US), Pearson (UK), McGraw Hill (US), Cisco (US), Huawei (China), D2L (Canada), CrossKnowledge (France), Newrow (US), Ellucian (US), UpsideLMS (India), Edsys (India), Echo360 (US), Instructure (US), eCourseWiz (India), SkyPrep (Canada), Paradiso Solutions (US), Latitude CG (US), Knowledge Anywhere (US). These players have adopted various strategies to grow in the global Smart Learning market.
Blackboard is one of the leading providers of smart learning solutions. The company offers its solutions to K-12 institutions, higher education institutes, and government organizations. Blackboards strong portfolio includes Blackboard Learn, Blackboard Collaboration, Blackboard Ally, Blackboard, App, Blackboard Instructor, Blackboard, Unite, and Blackboard SafeAssign. In June 2021, Blackboard partnered with K16 Solutions to help Blackboard’s clients transition from Blackboard Learn to Blackboard Learn Ultra.
SMART Technologies is a leading provider of technology solutions that enable collaborations in schools and workplaces. The company offers products such as SMART Board interactive flat panel, interactive flat panels, SMART Board interactive whiteboards, and SMART Notebook collaborative learning software. In February 2021, SMART Technologies launched new enhancements for their SMART Learning Suite software. The new enhancements would help teachers to customize activities and improve connections with students.
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