The global smart teaching and learning market size was US$ 31.5 billion in 2021. The global smart teaching and learning market is forecast to grow to US$ 91.5 billion by 2030 by registering a compound annual growth rate (CAGR) of 20.8% during the forecast period from 2022 to 2030.
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The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The demand for learning analytics applications is expanding among the corporate and academic sectors. Applications are employed as an analytical and data tool, which is considered the key component in the market’s growth. With the use of analytical software, users can combine processes, improve stakeholder participation in the learning process, and meet specific learning objectives by making predictions about learning outcomes, making changes, and allocating resources.
Innovations in education are crucial in the replacement of antiquated methods and the introduction of contemporary alternatives. Due to the growing need for cloud-based analytics solutions, there are several opportunities in the market for smart teaching and learning. Moreover, the smart teaching and learning market is expected to grow as a result of growing innovations in the industry.
Proactive initiatives taken by institutes and government organizations are forecast to contribute to the growth of the smart teaching and learning market during the study period. For instance, the government of the U.S. emphasizes the adoption of e-textbooks, graphics, and other interactive smart content. Apart from that, the rising adoption of smartphones will further contribute to the growth of the smart teaching and learning market during the study period.
On the contrary, problems related to poor connectivity may limit the growth of the smart teaching and learning market during the study period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for smart teaching and learning increased as students became more creative. Moreover, educational institutes started adopting smart technology such as the cloud to offer effective education amid pandemics. As a result, it has been beneficial for the smart teaching and learning market.
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Regional Analysis
A growing number of well-known ICT solution providers in smart teaching and learning in North America will drive the growth of the market. North America is expected to hold dominance due to the growing development of cutting-edge technology like tailored literacy programs.
The Asia-Pacific smart teaching and learning market is projected to record potential growth due to rapid economic development and the rising population of the region.
Competitors in the Market
? Saba Software
? Blackboard, Inc.
? Samsung
? Oracle Corporation
? IBM Corporation
? SAP SE
? SMART Technologies
? Microsoft Corporation
? Adobe, Inc.
? BenQ Corporation
? D2L Corporation
? Cornerstone OnDemand, Inc.
? Huawei Technologies Co., Ltd.
? Pearson
? McGraw-Hill
? Other Prominent Players
Market Segmentation
The global smart teaching and learning market segmentation focuses on Product, User, Learning Mode, and Region.
By Product:
? Software
o Learning content management system (LCMS)
o Learning management system (LMS)
o Assessment system
o Adaptive learning platform
o Others
? Services
o Managed
o Professional
? Hardware
o Interactive displays
o Interactive tables
o Interactive response systems
? Education Content
o Text-based
o Video-based
o Audio-based
By User Type:
? Academics
o Kindergarten
o K-12 schools
o Higher education
? Corporate
o Small and medium enterprises
o Large enterprises
By Learning Mode:
? Blended
? Adaptive
? Virtual Instructor-Led Training
? Collaborative
? Simulation-Based
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By Regional Outlook
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
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