Smart Education and Learning Market Witness Excellent Revenue Growth, Emerging Trends & Forecast

According to a new market report published by Transparency Market Research entitled “ASEAN Smart Education and Learning Market – Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” the ASEAN Smart Education and Learning Market was valued at US$ 61.46 Bn in 2018 and is expected to expand at a CAGR of 22.3% from 2019 to 2027, reaching US$ 368.79 Bn by the end of the forecast period.

The growing penetration of smartphones coupled with high-speed internet is bolstering the smart education market in the ASEAN region. Easy accessibility and affordability of smartphones has been one of the major reasons for utilization of mobiles in education. Strong ICT infrastructure in countries such as Singapore, Malaysia and Thailand are further aiding in the use of technology for education purposes. Integration of ICT in schools and implementation of projects integrating smart education and learning are increasing at an exponential rate. Through the use of smart tools such as tablets, smart boards, smart tablets, digital whiteboards and virtual reality in classrooms, educational institutions are making learning more technology oriented and interactive. Such developments are providing growth to digital learning and education growth, thus driving the smart education and learning market. Government initiatives towards improvement of ICT infrastructure and towards the promotion of smart education are fueling the growth of the smart education and learning market. Additionally, the launch of the ASEAN Economic Community (AEC) has led to an increased demand for English language learning among ASEAN member countries as a result of English being the official language of the AEC. One of the major purposes of the AEC is to enable the free-flow of goods and services among the ASEAN member countries, resulting in increased trade and business activities. To take advantage of the same, employees and job aspirants are taking up English language courses. Furthermore, the introduction of massive open online courses (MOOCs) offered by renowned foreign institutions are generating a huge demand for online courses. MOOCs and vocational courses are expected to increase one’s employability and are hence heavily sought after by professionals vying for a job change and also by job aspirants. However, low internet penetration in rural areas and lack of awareness regarding course effectiveness and best courses to pursue are limiting the growth of the smart education and learning market in the ASEAN region. Lack of finances among the poor population is also another hindering factor for the growth of the market. Nonetheless, cloud computing and analytics-based personalized education delivery are expected to offer massive growth potential to the market by lowering administrative and security costs and increasing the engagement levels of learners.