Originally Published on: technavio |US - Smart Education Market End-user and Component - Forecast and Analysis- 2023-2027
US Smart Education Market: Anticipated CAGR of 18.69% and USD 102.01 Billion Growth by 2027
The US Smart Education Market is projected to experience substantial growth at an estimated Compound Annual Growth Rate (CAGR) of 18.69% from 2022 to 2027, resulting in an anticipated increase of USD 102.01 billion. The market analysis incorporates historical data from 2017 to 2021 and covers comprehensive segmentation, including end-user categories (academics and corporate) and component types (service, software, and hardware).
Key Market Drivers: Increasing Adoption of Mobile Learning
The escalating adoption of mobile learning is a pivotal driver behind the market's growth. Key players are integrating mobile learning into their educational delivery methods, leveraging the rise in smartphone usage and internet penetration. Mobile learning offers educators the flexibility to deliver educational content anytime and anywhere, making learning more accessible and efficient. Additionally, it facilitates collaboration among educators and students, improving resource sharing and enhancing the learning experience. As mobile devices become increasingly popular for exam preparation and certification tests, this driver is expected to significantly impact the growth of the US smart education market.
Major Companies in the US Smart Education Market
Companies operating in the US Smart Education Market are employing diverse strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to bolster their presence in the market. One prominent company is:
Adobe Inc.: Adobe offers smart education solutions through products like Adobe Express and Adobe Photoshop Express, which are utilized as field trip journals, lab reports, and case study reports.
The market report includes comprehensive analyses of the competitive landscape, featuring information about 15 market companies, including:
Alphabet Inc.
Anthology Inc.
Cengage Learning Holdings II Inc.
Chegg Inc.
Cisco Systems Inc.
Cornerstone OnDemand Inc.
D2L Corp.
Fujitsu Ltd.
Hon Hai Precision Industry Co. Ltd.
Instructure Holdings Inc.
Intel Corp.
International Business Machines Corp.
MAXHUB
Meta Platforms Inc.
Microsoft Corp.
Pearson Plc
Samsung Electronics Co. Ltd.
Echo360
zSpace Inc.
Key Market Segment: Academics
The academic segment is expected to witness significant growth, primarily driven by the adoption of modern teaching methods. Traditional K-12 education has long focused on memorization and individual learning, but evolving teaching methods now emphasize student engagement, collaboration, and multimedia-rich content. To effectively implement these new methods, teacher training in digital skills and research on teaching effectiveness are crucial. The academic segment displayed a steady increase, growing from USD 25.64 billion in 2017 and continuing to expand by 2021.
Key Market Trends and Challenges: Education 4.0 and Talent Gap
One key trend in the US smart education market is the emergence of Education 4.0, aligning with the Industry 4.0 framework. Education 4.0 emphasizes innovation, technology, and real-world industry connections, benefiting both educators and students. It encourages students to leverage online resources and courses, providing flexibility and access to educational materials. This trend, driven by the adoption of Industry 4.0 and Education 4.0, is expected to support market growth.
The market faces a significant challenge in the form of a talent gap and the absence of effective metrics for smart education system adoption. The deployment of smart education systems relies on a skilled workforce proficient in digital technologies. However, the lack of appropriate training and evaluation techniques hinders the successful implementation of these systems, potentially affecting the market's growth.
Customer Landscape and Market Segmentation
The report includes an adoption lifecycle analysis, covering the journey from innovators to laggards, and provides insights into market penetration in different regions. Furthermore, it outlines key purchase criteria and drivers of price sensitivity to assist companies in developing their growth strategies.
contact us:
https://www.technavio.com/content/contact-us
https://www.technavio.com/report/us-smart-education-market-analysis
there doesn't seem to be anything here