The Future of Smart Education and Learning Industry Is Flourishing – Explore

Educational institutions are constantly focused on upgrading and integrating technology in teaching practices, methodologies, and curriculum.  AI-based learning has lately been very popular, as it has taken virtual learning way ahead with the help of new products introduced in the market.

According to a report published by Allied Market Research, the global smart education and learning market size is anticipated to reach $1.4 trillion with a significant CAGR from 2023 to 2032. Europe is currently dominating the market with the highest market share. The Asia-Pacific region, at the same time, is expected to witness the highest market share during the forecasted period. The market growth is attributed to factors such as increase in expansion of cloud computing technology, rise in implementation of AR and VR technology in the education sector, increase in need for interactive and personalized learning environments, and favorable government initiatives and corporate fundings to promote smart education.

With this drift on board, the key market players are adopting several business strategies such as partnerships, collaborations, new product launches, and others with an aim to stay competitive in the market. For instance, Ericsson has entered into a partnership with the Canadian Government in April 2023. The company is aiming to withdraw CAD 470 million in funding to enhance the presence of the global leaders in advanced 5G, 6G, AI, cloud RAN, and core network technologies. Such investment for the advancements in cloud computing are anticipated to boost the growth of the market to a great extent.

Moreover, the outbreak of the COVID-19 pandemic led to boost the demand for smart education and learning even more. Owing to strict lockdown regulations and temporary closure of all educational institutions including schools, colleges, and universities, the faculty and trainers was bound to shift its teaching mode to online, which in turn, has increased the adoption of digital technologies across the globe. Rise in government support for enhancing smart education and learning platform acted as a major driving factor for the growth of the global smart education and learning market across every region during the pandemic.

Here, it is worth stating that with the demand for smart learning tools, resources, interactive teaching and learning methods, infrastructure, and related services, the smart education and learning methods have come a long way during the pandemic. The pandemic has eliminated the needs of classroom teaching and showcased great learning outcomes through a virtual medium. The pandemic has really charged up the entire K-12 education driven by innovative EdTech solutions.

Furthermore, the surge in the number of employees working from remote locations in the post-COVID is also contributing to the market growth. Therefore, smart education and learning tools are expected to stay in demand and flourish in the post pandemic, hence providing exponential growth prospects for the global smart education and learning market in the near future.     

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