Albany, NY -- (SBWIRE) -- 05/16/2018 -- The smart education and learning market in the ASEAN region is rising due to government initiatives towards digitizing education, increasing use of smartphones and tablets, internet penetration and developed information and communication (ICT) infrastructure. Virtual reality-infused classrooms and cloud-based smart education and learning solutions are gaining heightened popularity in the region and are becoming a standard across many educational institutions in countries such as Malaysia, Thailand, and Singapore.
Transparency Market Research estimates that the ASEAN smart education and learning market holds immense growth potential in the near future. The market is expected to exhibit a remarkable 19.7% CAGR over the period between 2016 and 2020. If the prediction holds true, the market is expected to rise from US$36.84 bn to US$88.97 bn by 2020.
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The ASEAN smart education and learning market has been segmented on the basis of delivery model into classroom-based, desktop/mobile-based and simulation-based solutions. Among these, the desktop/mobile-based segment was the leading segment, occupying approximately 67% of the market share in 2015. It is also expected to remain the leading segment throughout the forecast period.
However, the segment is expected to lose prominence to the simulation-based delivery model in terms of the rate of growth over the period between 2016 and 2020. The segment is expected to exhibit a CAGR of 21% over the said period. This up-and-coming segment will, however, still be able to occupy a very small share in the market pie owing to the dominance of desktop/mobile-based and classroom-based smart education and learning solutions. The segment of classroom-based solutions is projected to see a decline in its share in the overall market by the end of the forecast period owing to the rising demand for simulation-based smart education and learning solutions.
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The ASEAN smart education and learning market has been examined for seven regions: Malaysia, Philippines, Indonesia, Singapore, Thailand, Vietnam, and Rest of ASEAN (Cambodia, Laos, Myanmar (Burma), and Brunei). Malaysia currently leads the ASEAN smart education and learning market, accounting for a dominant share of 36.9% in 2015. The highly developed state of the information and communication technology (ICT) and vast penetration of smartphones have bolstered the Malaysia market for smart education and learning.
Furthermore, government initiatives toward promoting the use of technology in education have resulted in the increased use of smartphones and desktops in delivering smart education to learners in the country. The market for in Malaysia is projected to remain the dominant regional market in the ASEAN smart education and learning market throughout the forecast period as well. Malaysia, along with Indonesia, is also expected to be one the most promising regions in terms of rate of growth of the smart education and learning market over the next few years. Both the countries are projected to exhibit a 20.3% CAGR over the forecast period.
The launch of the ASEAN Economic Community (AEC) has bolstered the demand for English language courses in Indonesia. Additionally, high smartphone penetration and government initiatives towards delivering digitized education have further added to the growing market revenues in the smart education sector in Indonesia.
The key market players operating in the ASEAN smart education and learning market include Blackboard, Inc., Educomp Solutions Ltd., Cisco Systems Inc., Adobe Corporation, Scholastic Corporation, Smart Technologies Inc., NIIT Ltd., Saba Software Inc., Scholastic Inc., and Extramarks Education Pvt., Ltd.