The ASEAN Smart Education and Learning Market, By Delivery Model (Classroom-Based, Desktop/ Mobile-Based and Simulation-Based), By End-use (Higher Education, Transnational Education, Technical Vocation & Technical, Education (TVET), Language Training (English),Early Childcare & Pre-School, Continual Professional Development, Qualifications, and Assessment & Standards), and by Country Malaysia, Indonesia, Philippines, Vietnam, Singapore, Thailand and Rest of ASEAN(Cambodia, Laos, Burma & Brunei)) - Forecast to 2027”, is expected to be valued at US$ 354,597.8 million by 2027, exhibiting a CAGR of 21.7 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Smart education and learning is a new method of learning, which allows students to learn desired courses in a convenient, smart, and superior manner. The conventional teaching methods have witnessed a massive transition in the recent past, with the advent of novel learning methods. Many institutions are actively adopting high-tech teaching methods including projectors, smart notebooks, whiteboards, etc., in order to make learning easy and convenient. There has been coordination among software innovators, hardware providers, and educational material providers to provide education in a better way. Smart education and learning are not bounded by a number of hours, attendance, and location. In layman’s terms, smart learning and education refer to focusing on the applications of mobile instruments and emphasizing on the mobility of learners.
The ASEAN Smart Education and Learning market was valued for US$ 73,787.2 Mn in 2019 is expected to exhibit a CAGR of 21.7% during the forecast period.
Financial limitations and skill upgradation required high education is expected to boost growth of the ASEAN Smart Education and Learning market during the forecast period
High education is expensive and unaffordable for many families. Hence, e-learning and smart education techniques have witnessed significant demand from these families to attain college degrees. Rising need to upgrade existing skills and knowledge and acquire new ones is driving professionals toward taking up e-learning courses. Furthermore, working professionals busy with schedules find self-paced learning more useful and appropriate for their needs, which in turn, is expected to support the ASEAN Smart Education and Learning market growth over the forecast period.
Growing investment in the education sector is expected to provide major growth opportunities over the forecast period
Governments of various countries are focused on investing significantly in the education sector. According to India Brand Equity Foundation (IBEF), in November 2019, the Government of India invested US$ 5.4 billion in higher education US$ 8.8 billion in school education and literacy. Market players can capitalize on these opportunities by offering novel education and learning tools and gain competitive edge in the market.
Increasing cyber-attacks on educational institutes and concerns regarding data security and privacy are expected to restrain growth of the ASEAN Smart Education and Learning market over the forecast period
Since smart education and learning tools are connected to the cloud and other smart technologies, there is a high risk of data breach and cyber-attacks. Many institutes have witnessed cyber-attacks in the recent past, which in turn, has hindered the adoption of smart education technologies. Moreover, major concerns related to data security and privacy issues are expected to hamper the ASEAN Smart Education and Learning market growth over the forecast period.
Proactive initiatives by government for digitization
The Government of Malaysia has taken numerous initiatives in the recent past to digitize education and make learning smarter with the use of technology for learning. As part of the National Education Blueprint, 2013-2025, the Malaysian government planned to equip every school with tablets at the end of 10 years, announcing that it would provide one computing device for every 10 students. Furthermore, it planned to equip 10,000 schools with 4G networks, along with a virtual learning platform. The government also planned to make affordably priced broadband services available in all regions of the country by 2020.
Higher education institutes going online
A vast number of private and public universities in Malaysia are adopting e-learning, owing to demand higher education. Moreover, the implementation of e-learning techniques and management systems has been rampant in the recent past due to developed state of information and communication technology (ICT) infrastructure in the country. The government has also funded an English learning portal called MyLinE with the aim of providing English learning programs in higher education institutes.
Rising adoption of smartphones in Indonesia combined with the availability of high-speed internet facilities has enabled education service providers to deliver services through mobile internet applications and reach out to a broader consumer base. Furthermore, working professionals are opting for mobile courses due to lack of time as they can continue learning effectively with flexibility in regard to time and place.
High demand for language learning
Online courses and English learning mobile phone applications are in high demand in Indonesia. This is owing to the rapidly evolving smartphone application ecosystem driving consumer sales and the launch of the ASEAN Economic Community (AEC). Furthermore, there is a growing trend of private equity funding in online tutoring firms and smart education startups that also provide English learning courses in the ASEAN region.
Text2Teach is a project implemented in schools in the Philippines. It is a large scale project that uses mobile technology to deliver education to students across several schools. The plan enables students to download audio and video educational content using their mobile phones. It also facilitates the delivery of educational resources via satellite to a school television upon SMS requests by teachers.
Key players operating in the ASEAN Smart Education and Learning market are Adobe Systems Incorporated, Unit4 N.V., Blackboard Inc., Extramarks Education Pvt. Ltd., Educomp Solutions Ltd., Saba Software, Inc., Scholastic Corporation, NIIT Ltd., Cisco Systems Inc., and Smart Technologies, Inc.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.