Market Size of Smart Learning Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 22.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smart Learning Systems Market Analysis
The smart learning systems market was valued at USD 29.98 billion in 2020, and it is expected to reach a value of USD 103.08 billion by 2026, at a CAGR of 22.5% during the forecast period (2021 - 2026). Schools and training centers are moving from the traditional blackboard approach to integrating smart technology into learning environments. The learning trend encompasses a broad range of activities, tools, and services, to improve the educational outcomes of students and employees directly.
- At the university level, institutions are adopting innovative methods, such as smart learning, to provide alternative pathways and opportunities for students to develop relevant and valuable skills in line with industry requirements.
- Software solutions provide institutions with well-organized enterprise resource planning (ERP) systems that help faculty members build improved courses and manage classrooms and schools proficiently. Online education platforms create virtual classrooms, enabling teachers to manage a large audience without any budget constraint.
- Moreover, in March 2020, Ellucian, a provider of software and services, announced that the Arkansas State University (ASU) System, a network of universities in Arkansas serving nearly 23,000 students, selected Ellucian Banner as its unified, cloud-based ERP solution. As part of the statewide effort to align higher education institutions, the ASU System would implement Banner to achieve a shared, scalable cloud platform, designed to increase collaboration, combine resources, and support future growth of the system's schools.
- The recent COVID-19 outbreak has impacted the global education industry. The pandemic is anticipated to have enormous economic consequences, and it is also having a devastating impact on global education. According to the latest figures released by the UNESCO, 1.3 billion learners around the world were not able to attend schools, as of March 23, 2020. Many schools, colleges, and universities are closed across the world.
