The era of digital technology is providing as many opportunities for students and educators as it is posing new challenges. The major driving forces of this market are emergence of digital education, progression of interactive learning systems, growth of educational apps, and online and blended learning.
The global smart education and learning market is forecasted to grow from $121.53 billion to $344.94 billion between 2014 and 2019, according to MarketsandMarkets research. If we look up the breakup region-wise, North America is anticipated to be the biggest market in terms of market size, whereas Asia-Pacific (APAC) and Europe are estimated to experience an increase in market traction, during the forecast period. Moreover, APAC is most likely to have a high growth rate along with a high adoption rate in this market.
The educational sector can no longer be involved with only the traditional method of teaching. The model has been shifting continually with the upsurge of digital technologies. Educational institutions are encouraging their pupils and employees to use more of smart devices for a more interactive and engaging learning. The trends to look out for are gamification of education, use of Social Media as a Teaching and Learning Tool like TED talks, digital library and smart boards in classrooms, et cetera.
One of the major obstacles faced by educational institutions is the adoption of a secure infrastructure and the lack of digital fluency as well as literacy about the latest technological trends. These institutions are also lagging behind in implementing an IT Governance model which will help in choosing and adopting the right products and software solutions and aid them in decision-making. Major providers and innovators of the smart education and learning market are Blackboard, Smart Technologies, Three Rivers Systems, Scholastic Corporation, Saba Software, Ellucian, Cisco Systems and Adobe Corporation among various others. In other words, the continuous innovation and remodeling of the products and services by vendors to create better and modern information systems are making it difficult for institutions to keep pace and updated. Despite the fact that the education budgets are being squeezed worldwide, this sector continues to allocate a greater proportion of its budget to investments in technology to aid learning.
Education, at present, is not only limited to schooling but is a vital component for the industry to progress. Global Industry Analysts’ (GIA) report predicted that the global e-learning market will reach $107 billion in 2015 which is predicted to rise annually about 13 percent until 2017, fuelled by demand for additional skills and technological advancements. Another trend to look out for in the corporate sector is the online competency based training, which not only incorporates the right learning model, but the right technologies, customers, and business model.
Author: Debaleena Debnath
Debaleena is a digital media consultant @ speradigital.
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