According to a recent report published by Allied Market Research, titled, “Asia Smart Education and Learning Market By Component, Learning Mode, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the Asia smart education and learning market size was valued at $43.36 billion in 2020, and is projected to reach $369.34 billion by 2030, registering a CAGR of 23.6%.
The growth of the Asia Smart Education and Learning market is driven by continuous increased acceptance of e-learning in corporate and academic set-ups and proactive government initiatives in developing markets. In addition, technological advancements in smart education & e-learning and growing number of mobile learning applications provides asia smart education & learning market opportunity.
However, security and privacy concerns and high cost of implementation may hamper growth of the market to some extent during the forecast period. On the other hand, emergence of bring-your-own-device (BYOD) trend and upsurge in virtual schools are expected to create lucrative growth opportunities for Asia smart education & learning market growth in the near future.
In 2020, the hardware segment dominated the Asia smart education & learning market trends in 2020, and is expected to maintain its dominance in the upcoming years. Rise in adoption of interactive displays primarily drives the growth of the hardware segment in Asia Smart Education and Learning market. Such displays are designed for any learning environment and are easy to use, deploy, and support. However, services is expected to witness highest growth rate owing to its rising demand from the end users as it ensures effective functioning of software throughout the process.
On the basis of end user, the academics segment dominated the overall Asia Smart Education & Learning industry in 2020, owing to continuous ongoing improvement in educational infrastructure and customization of learning & assessment processes, due to increase in investments in digital resources. However, corporate segment is expected to witness highest growth rate in Asia smart education & learning market forecasted period.
Post COVID-19, the Asia smart education and learning market was valued at $43.36 billion in 2020, and is projected to reach $369.34 billion by 2030, registering a CAGR of 23.6%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. In the Asia, the pandemic has significantly led to the increased adoption of digital technologies with an augmented data traffic. The closure of schools and other learning spaces in developing nations such as India and China has primarily boosted demand for smart education and learning solutions in the region. There has been greater adoption of adaptive and mixed learning approaches during the pandemic.
Key Findings Of The Study
- By component, in 2020, the hardware dominated the Asia smart education & learning market size. However, the services segment is expected to exhibit significant growth rate during the forecast period.
- Depending on enterprise size, the large enterprises generated the highest revenue in 2020. However, the small & medium size enterprises segment is expected to witness highest growth rate in the near future.
- On the basis of end user, the academics segment accounted for the highest revenue of asia smart education & learning market analysis in 2020, however, the corporate segment is expected to witness highest growth rate in the forecasted period.
- Country wise, the Asia smart education & learning market share was dominated by China. However, India is expected to witness significant growth in the upcoming years.
Some of the key players profiled in the Asia Smart Education & Learning industry report include Abans Group, Adobe Systems Incorporated, Cisco Systems Inc., Educomp Solutions Ltd., NIIT Limited, Blackboard, Inc., Ellucian Company L.P., Saba Software, Inc., and SMART Technologies, and Unit4.