[March 15, 2018]

Global Smart Education Market - Availability of Cost-effective Solutions Drives Growth | Technavio

Technavio market research analysts forecast the global smart education market to grow at a CAGR of around 16% during the period 2018-2022, according to their latest report.

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Technavio has published a new market research report on the global smart education market from 2018-2022. (Graphic: Business Wire)

This market research report segments the global smart education market into the following products (content, software, and hardware), end-users (higher education and K-12 schools), and key regions (the Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the availability of cost-effective smart education solutions as a key factor contributing to the growth of the global smart education market:

Availability of cost-effective smart education solutions

The education industry has the presence of multiple hardware providers who are introducing diverse devices to fulfill the educational needs of both students and teachers. These devices support diverse activities of institutions such as teaching, learning, or operational activities. Institutions have iPads and tablets to be used by teachers and students for learning purposes. Apart from these, document cameras, IWBs, projectors, and 3D printers assist in learning. Such devices provide horizontal support, which helps institutions promote any learning environments such as flip and virtual classrooms and experiential and collaborative learning that further promotes the growth of the global smart education market.

The increased accessibility to smartphones and other mobile devices is another major factor that has been contributing to the increasing demand for smart education across the globe. The young population all over the world, generally those aged between 16 and 25 years form one of the largest customer bases of smartphone users in the world. The penetration of smartphones is expected to increase considerably during the forecast period because of their affordability.

According to a senior analyst at Technavio for education technology, "The easy accessibility to smartphones has encouraged students to use them for learning and progress evaluation. The penetration of smartphones is high in advanced as well as emerging countries. With the rapid adoption of the BYOD policy in educational institutions in most countries globally, the market will witness a steady growth during the forecast period."

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Global smart education market segmentation

The content product segment accounted for the largest market share in 2017, contributing to more than 40% of the market share. This segment is expected to witness substantial growth over the forecast period owing to the increasing demand for digital versions of conventional books used in schools and universities. The demand for digital versions of curriculum-oriented books will increase in the next few years because increasing number of students and educators are using e-books for conducting lectures and completing assignments.

The Americas accounted for the largest market share of the global smart education market in 2017, contributing approximately 39% share to the global market. The Americas is expected to witness consistent growth over the forecast period due to the increasing number of schools and higher education institutes adopting smart devices in modern classrooms for creating immersive learning environments for the students.

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