Smart Education and Learning Market is expected to rise from US$36.84 bn to US$88.97 bn by 2020
The ASEAN smart education learning market is extremely fragmented on account of a large number of educational institutions offering very similar education. It is therefore not surprising the competition level runs high in the Asians modification and learning market. With increasing efforts and initiatives taken by governments across Asia to strengthen the online education and smart education facilities, there has been a rise in the number of players entering the market in the past few years. Governments are also offering grants and developmental policies which are encouraging new players to enter the market. Transparency Market Research (TMR) states in its new report on this market that in order for companies to make the most of the growing opportunities in smart education and learning market, it will be important to strive for product differentiation.
According to TMR, the ASEAN smart education and learning market will rise to US$88.97 mn by 2020 and expand at a whopping 19.7% CAGR from 2016 to 2020. On the basis of geography, the Malaysian market will emerge as the leading contributor to the revenue of smart education and learning market. The high penetration of smartphones and highly developed state of the Information and Communication Technology (ICT) will fuel the growth of the Malaysia Market for smart education. Increasing initiatives taken by the government to promote the use of technology and education has boosted the use of desktops and Smartphones for delivering smart education to learners. Apart from Malaysia, Indonesia is also expected to emerge as a promising market for smart education and learning. The two countries combined, will exhibit a CAGR of 20.3% between 2016 and 2020. On the basis of the delivery model, the desktop/mobile based solution is anticipated to lead.
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According to the report, the growing use of Smartphones and high-speed Internet will be the two important factors which will drive the ASEAN smart education learning market. The affordability of Smartphones and easy accessibility has increased the use of mobiles in the education sector in the past few years. Malaysia, Singapore, Thailand have strong Information and Communication Technology infrastructure. This is also driving the use of technology for education purposes in ASEAN market. Implementation of projects integrating smart education and learning solutions and integration of ICT in schools is growing at an exponential pace. Educational institutions are making learning an interactive and technology-oriented process by introducing smartphones, digital whiteboards, tablets, smart boards, and virtual reality in classrooms.
The launch of ASEAN Economic Community (AEC) will fuel the demand for English language learning among the member countries of ASEAN which has resulted in English being the official language of (AEC). In addition to this, renowned foreign institutions have opened massive open online courses (MOOCs) which have propelled the demand for online courses in Asia and this will drive the growth of smart education and learning solutions market.