The global Smart Education Market is forecast to reach USD 1,047.75 Billion by 2026, according to a new report by Reports and Data. Smart education can also be summed up as the application of smart devices to enhance the learning outcome of traditional education. It develops the learners with the skills needed for a digital future that will have more innovative ways of performing a task. It supports reachability for students who can access education remotely. Students have the scope of collaborating with others on virtual learning platforms, take part in online discussion threads to resolve their queries, take up Massive Online Open Courses (MOOC) from the best universities around the globe without physically attending the course, are some of the benefits of this form of education. In regards to region, Europe occupies a prominent market position. The market position held by Europe is resultant of the continuously growing demand for eLearning, emphasis on professional developments, and technological advancements.

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Further key findings from the report suggest

• The Smart Education market held a market share of USD 233.75 Billion in the year 2018 and is forecasted to experience a CAGR of 17.7% during the forecast period.
• In regards to Age, the 30-45 segment is projected to witness the fastest growth rate of 18.4% during the forecast period, which is expected to occupy 22.0% of the market by 2026. The growth rate experienced by the 30-45 segment is resultant of increasing development and demand of corporate smart education for training and professional development purposes in various organizations in different sectors.
• In context to End-user, the Academic segment held the largest market share of 69.0% in 2018, with a CAGR of 16.8% during the forecast period. The market share occupied by the Academic segment is attributed to rising demand for eLearning in the academic sector and associated increased demand for Virtual Instructor-led Training (VILT), and education content, that have increased the use of this form of learning in educational institutions.
• In regards to region, Asia Pacific is forecasted to witness the fastest growth rate of 18.3% during the forecast period, which occupied 23.0% of the market in 2018. Increased governmental emphasis on rural education, and development of technological infrastructure contributes to the expansion of the market in the APAC region.

Key companies profiled in the report include:  

Educomp Solutions Ltd., Adobe Systems Incorporated, Blackboard, Inc., Cisco Systems, Inc., Niit Limited, Mcgraw-Hill Education, Pearson PLC, Sum Total Systems, LLC., Samsung Electronics Co., Ltd. and Smart Technologies, Inc.

Component Type Outlook (Revenue, USD Billion; 2020-2026)

• Software
  • Adaptive Learning Platform
  • Learning Management System (LMS)
  • Assessment System
  • Learning Content Management System
  • Others
• Hardware
  • Interactive Display
  • Interactive White Boards (IWB)
  • Student Response Systems
  • Interactive Tables
  • Interactive Projector
• Service
  • Education Content
  • Managed and Professional Service

Learning Mode type Outlook (Revenue, USD Billion; 2020-2026)

• Collaborative Learning
• Blended Learning
• Virtual Instructor-Led Training
• Adaptive Learning
• Simulation-Based Learning
• Social Learning

Age Type Outlook (Revenue, USD Billion; 2020-2026)

• 46-above
• 30-45
• 19-29
• 10-18
• 5-10

End-User Type Outlook (Revenue, USD Billion; 2020-2026)

• Academic
  • Higher Education
  • K-12
• Corporate
  • Large Enterprises
  • Small & Medium Businesses

Based on Region market is segmented into:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

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