The Worldwide Smart Learning Industry is Expected to Reach $95.4 Billion by 2026 at a CAGR of 21% from 2021 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 17, 2021--
The “Global Smart Learning Market by Component (Hardware, Software, and Services), Learning Type (Synchronous Learning and Asynchronous Learning), End User (Academic, Enterprises, and Government), and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global Smart Learning market size is expected 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 increasing need for an interactive and engaging learning environment to drive the smart learning market. Smart Learning tools help organizations by providing seamless communication between employees. This improves the operational efficiency and productivity of the employees, thereby helping organizations to meet their business goals.
By Learning type, the synchronous learning segment to grow at the higher CAGR during the forecast period
By learning type, the synchronous learning segment is expected to grow at a higher growth rate during the forecast period. Synchronous learning is online learning, which happens in real-time. In this type of learning, learners can interrupt the tutor and ask their doubts between ongoing sessions. Online communication helps learners’ stay-in-touch with their teacher and fellow students.
Synchronous learning has features such as classroom engagement, dynamic learning, and instruction depth which differentiate it from asynchronous learning.
By Enterprises, the Large Enterprises segment to hold the larger market size during the forecast period
The Large Enterprises segment is expected to hold the larger market size. Smart learning solutions provide a uniform training platform which helps to assess employee performance across branches, thus providing a centralized contact system for the management. The traction of smart learning solutions has increased among large enterprises due to the increasing penetration of mobile devices along with the advancement in technologies.
By region, Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific (APAC) market is projected to grow at the highest CAGR during the forecast period. The APAC region is expected to be the fastest-growing market in the global Smart Learning market, owing to the rapid adoption of Smart Learning solutions. Government initiatives to promote the digital infrastructure are responsible for driving the adoption of video conferencing solutions in the region.
The region has the highest student population, and with advancing technologies, there is a growing demand for eLearning and distance education. This has led to the rapid adoption of Smart Learning solutions in fast-growing countries, such as China, Japan, India and Australia.
- Growing demand for the LMS software to effectively manage learning content
- Need for an interactive and engaging learning environment
- Enterprises are focusing more on human capital development
- Rising enrollments in the higher education sector
- High cost of infrastructure
- Growing demand for online learning due to the pandemic
- Advancements in smart learning technologies
- Need of technical training for teachers and instructors
- Data security and privacy issues
- Cornerstone OnDemand
- Knowledge Anywhere
- Latitude CG
- McGraw Hill
- Paradiso Solutions
- Smart Technologies
For more information about this report visit https://www.researchandmarkets.com/r/c2n5sh
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SOURCE: Research and Markets
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PUB: 08/17/2021 11:17 AM/DISC: 08/17/2021 11:17 AM