According to a new market research report “Global Smart Teaching and Learning Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Product (Hardware, Software, Services and Education Content), by User Type (Academics and Corporates), by Learning Mode (Blended, Adaptive, Virtual Instructor Led Training, Collaborative and Simulation-Based)” published by P&S Market Research, the global smart teaching and learning is projected to reach $819.0 billion by 2022, growing at a CAGR of 23.5% during 2016 - 2022.
As per the research, the global smart teaching and learning market is likely to grow from $190.0 billion in 2015 to $819.0 billion by 2022. Organizations are rapidly adopting smart teaching and learning products, regardless of the company size in order to provide effective and interactive learning to their employees, however, the global market for smart teaching and learning is dominated by academic segment.
Usage of smart teaching and learning products in corporate sector is generating competitive advantages. Smart teaching and learning products include software, hardware, services and education content.
Smart teaching and learning software help education management to manage and reduce risk, provide ability to improve efficiency by streamlining operations, ensure transparency for all parties to the education value chain and provide the ability to track institutional performance against its mission.
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As per the findings of research, the blended learning mode has been globally the largest adopted learning mode of smart teaching and learning, and academic users have been the largest revenue generator for the market. Blended learning mode combines the techniques of traditional teaching and learning with smart teaching and learning to improve the overall efficiency.
Based on the user type, academic market for smart teaching and learning was dominated by K-12 schools, which made the highest contribution to the overall market.
Geographically, North America has been the largest market for smart teaching and learning. It has been observed that the academics and corporate markets for smart teaching and learning in North America are increasingly adopting analytical solutions for data management.
Increasing adoption of analytical solutions is expected to drive the growth of smart teaching and learning market in the U.S. The analytical solutions of this market include learning management system, learning content management system, student management system, employee management system, library management system and others.
The factors driving the growth of the smart teaching and learning market include the growing need for learning analytics applications to be used as data collection and analysis tools by academics and corporate market segments. Analytical applications help in acquiring prognostication about learning outcomes, restructuring, and escalation of resources to strengthen the participation of all stakeholders in the learning process, consolidating processes and accomplishing the embossed educational objectives.
The increasing need for cloud based analytics solutions creates ample opportunities for the market. Integration of cloud computing with technology is a major trend.
In relation to smart learning, cloud based Learning Management Solutions (LMS) are gaining acceptance and have the capacity to reduce the operational costs.
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