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The global smart learning device market was valued at US$56.28 billion in 2021. The market value is projected to grow to US$154.16 billion by 2027. Smart learning devices are sophisticated tools which enable learners to absorb knowledge and skills in a more effective, efficient, and easy manner. These devices helps in creating an interactive, collaborative, and visual paradigm that aims to boost student engagement and allow teachers to adapt to students' talents, interests, and learning preferences. Smart learning device market is involved with production of smart learning devices for educational institutions, personal end users and corporate organizations.
The factors such as increased penetration of internet, digital transformation, rising demand for higher education and shift towards e-learning are expected to drive the overall market growth in the forecasted period. The market is expected to grow at a CAGR of approx. 18% during the forecasted period of 2022-2027.
Market Segmentation Analysis:
By Sub Category: The report provides the bifurcation of the market into five segments based on the sub-category: Educational tablets, Educational smart watches, Translation tools, Smart education robotics and Others. In 2021, the educational tablets segment held the largest share of the global smart learning device market. Educational tablets provides additional features like highlight text, notes, dictionary, calculator and visual tools making learning process faster, easier and efficient for teachers and students. Smart education robotics is expected to be the fastest-growing segment in the forecasted period, owing to growing importance of skills in robotics and programming, digitalisation and technology development.
By Region: The report provides insight into the smart learning device market based on the regions namely North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the largest share in the market. Within North America, the US is the largest growing market owing to rising demand for higher education, rising number of universities and colleges and increasing investment in educational technologies.
Within Europe, Germany held the highest share of the market, whereas Spain is expected to be the fastest-growing smart leaning device market in the forecasted period.
Asia Pacific's smart learning device market is divided into six regions based on geographical operation, namely, China, Japan, India, Korea Rep., Australia and the Rest of Asia Pacific, where China held the largest share of the Asia pacific smart learning device market owing to large investments in education and government initiatives.
China smart learning device market is further divided into two segments based on sub category, namely, B-Based Learning and C-Based Learning where China B-based learning accounted for the largest share and China C-Based learning is the fastest growing sub category. China C-Based smart learning device market is further divided into five sub categories, namely, education robotics, educational tablets, educational smart watches, translation tools and others with educational tablets holding the major share of the market.
Market Dynamics:
Growth Drivers: The global smart learning device market has been growing over the past few years, due to factors such as the increased penetration of internet, digital transformation, rising demand for higher education, shift towards e-learning, etc. The emergence of the internet and ever-evolving technology has made learning interactive, engaging, motivating, and handy as digital format allows students to easily access content and customize the study material based on an individual's learning speed, ability and interest, allowing students to personalize their education. This has created a demand for online learning courses and hence the demand for smart devices like smart phones, PCs and tablets which are needed for accessing and studying of these online course material. So rising penetration of internet has created a positive impact on the growth of smart learning device market.
Challenges: However, the market growth would be negatively impacted by various challenges such as security and privacy risk, poor technical training of teachers, lack of infrastructure, etc.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as the increasing adoption of BYOD (Bring Your Own Device), integration of AI into smart learning, rising penetration of cloud computing, emergence of 5G, etc. in recent years, etc. Integration of 5G networks into education will revolutionize connectivity issues and streamline classroom logistics while improving the quality of the entire learning experience. So, emergence of 5G will create more demand for online learning courses boosting the demand for smart devices like smart phones, whiteboards and tablets needed for studying of online course materials in the forecasted years.
Impact Analysis of COVID-19 and Way Forward:
COVID-19 brought in many changes in the world in terms of reduced productivity, loss of life, business closures, closing down of factories and organizations, and shift to an online mode of work. With the increase in digitalization because of COVID-19, there was a shift towards virtual learning and online training programs in both educational institutions and corporate organisations with teaching process being undertaken remotely and on digital platforms. This resulted in an unprecedented push towards online learning and use of smart devices like smartphone, tablets and e-books for completion of coursework and continuation of work from home. So, COVID-19 had a positive effect on the growth in the smart learning device market.
Competitive Landscape:
The market for smart learning devices has been fragmented. The key players of the smart learning device market are:
Hewlett Packard Development Company LP
Foxconn Technology Group (Smart Technologies ULC)
NetDragon Websoft Holdings Limited (Promethean, Inc.)
Seiko Epson Corp. (Epson)
Lenovo Group Limited (Lenovo)
Alphabet Inc. (Google Cloud Platform)
Dell Technologies Inc.,
Samsung Electronics Co. Ltd.
Apple Inc.
Huawei Investment and Holding Co. Ltd. (Huawei Technologies Co. Ltd.)
Fujitsu Limited
Platinum Equity LLC (McGraw Hill Education)
Readboy
BBK Electronics Corp. Ltd. (BBK Educational Electronics Corp., Ltd)
BBK Educational Electronics Corp. Ltd. is a leading provider in China smart learning device market. Smart learning device service providers, such as Readboy, that have well-developed device portfolios with comprehensive digital educational resource offerings and established distribution channels, are better positioned to capture future growth opportunities. On the other hand, first movers that have established business relationships with primary and secondary schools can take advantage of the smart classroom solutions market expansion and tap a wider customer base. Also, it is very important to maintain market share and launch more high-quality digital educational resources/products given intensive competition in the industry. For instance, Youdao Inc. has proactively expanded its product matrix to listening pod in September, 2019; smart light in April, 2022; and learning pad in August 2022.