ASEAN SMART EDUCATION AND LEARNING MARKET ANALYSIS

Market Insight- ASEAN Smart Education and Learning Market

Market Overview

The recent past has witnessed a transition in conventional teaching methods with a smooth and flexible learning process. Educational institutes are actively adopting cutting edge teaching methods including projectors, smart notebooks, whiteboards, etc. There has been coordination among software innovators, hardware providers, and educational material providers. Furthermore, 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 mobility of learners. Although the Smart Education and Learning market is in a nascent stage, developed countries, as well as emerging economies, have started adopting the novel techniques of education and learning actively.

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.

Market Dynamics- Drivers

1. Proactive initiatives by governments for literacy development is expected to drive growth of the ASEAN Smart Education and Learning market during the forecast period

Various governments across ASEAN are focused on engaging in digitization efforts in schools and other educational institutions. Apart from installations of broadband facilities, the government is supporting educational institutions to offer e-learning courses. For instance, an initiative by the Singapore government called FutureSchools@Singapore is providing high-end technology and digital content to schools. The Malaysian government launched an online learning portal called Malaysia Education Online (MEdO) with the aim of delivering a significant portion of courses online. Thus, these factors are expected to drive growth of the ASEAN Smart Education and Learning market in the near future.

2. Launch of ASEAN Economic Community (AEC) is expected to propel the ASEAN Smart Education and Learning market growth over the forecast period

The ASEAN Economic Community (AEC) chose its official working language such as English, in order to boost the competitiveness of ASEAN countries in other regional markets through effective communication and services. Since there is a low degree of English language skills in the ASEAN region, e-learning facilities have witnessed significant demand in the region. Moreover, English communication skills are in high demand from private companies and government facilities in the region. Therefore, launch of AEC is expected to support the market growth over the forecast period.

3. Rising adoption of smartphones is expected to drive the ASEAN Smart Education and Learning market growth over the forecast period

Smartphones are increasingly used as a substitute for computers, owing to ease of use and convenience during travel. The availability of e-learning applications in smartphones is aiding in growth of the ASEAN smart learning & education market.

Indonesia country dominated the ASEAN smart education and learning market in 2019, accounting for 33.3% share in terms of value, followed by Vietnam and Thailand respectively

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Source: Coherent Market Insights

Market Dynamics- Restraints

1. Lack of awareness regarding benefits of smart education and learning is expected to restrain growth of the ASEAN Smart Education and Learning market during the forecast period

The availability of several online courses and e-learning tools has led to confusion among consumers regarding the selection of the right course and platform. Furthermore, a vast number of consumers are unaware of which courses will offer them more benefits in terms of job opportunities and value. Since the majority of courses are undertaken for professional benefits, consumers need to be aware of the career implications the courses will leave on them. Thus, these factors are expected to restrain the ASEAN Smart Education and Learning market growth in the near future.

2. High initial investment for hardware and smart tools is expected to hinder the ASEAN Smart Education and Learning market growth over the forecast period

The deployment of smart stools, hardware, and e-learning tools require significant investment from educational institutions. Since majority of tools involve state-of-the-art technology, they come at a high price that might not be affordable for all institutions. Furthermore, equipment such as smart tables, digital notebooks, whiteboards, and smart boards are expensive to procure both from the student’s standpoint as well as the institution’s perspective and therefore hinders growth of the Smart Education and Learning market.

Market Opportunities

1. Advent of virtual reality (VR) classroom is expected to present lucrative growth opportunities in the near future

Companies such as Google Inc., Sensavis Inc., Immersive VR Education Ltd., and Discovery Communications, Inc. entering into the field of virtual reality in education. Classrooms with 3D learning environments and virtual reality offer more realistic and effective learning experiences for students. Moreover, these technologies are an excellent alternatives for television and online videos and are expected to encourage primary school students to develop a more precise and practical knowledge base.

2. Provision of cloud-based education solutions can offer major business opportunities

Rampant growth in the IT and communication industry has opened new ways to education in cost-effective and convenient ways. Cloud computing has introduced new avenues for educational institutions to teach and engage students. Educational institutions are expected to take advantage of cloud computing, in order to lower their initial capital expenditures, protect data, and reduce administration costs. Moreover, cloud-based applications and software are expected to deliver more engaging levels of education in terms of education sharing facilities and workgroup learning platforms.

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Source: Coherent Market Insights

Market Trends

1. Availability of desktop/mobile-based open online courses

Reputed international universities such as Harvard University, Massachusetts Institute of Technology, Georgetown University and Boston University are offering online courses open to the general public free of cost. Moreover, technology giants such as Google Inc., Microsoft Corporation, and Facebook Inc. are offering free of cost courses. Some of these courses are certificate and degree courses, which can help professionals in their careers. Moreover, these courses have witnessed significant demand among fresh graduates and professionals since they are free of costs. This trend is expected to continue during the forecast period.

2. Demand for classroom-based and online English learning

There has been a high demand for English learning tools and solutions in ASEAN region, owing to the launch of the AEC. Several language applications for smartphones and distance learning courses in linguistics are in high demand in the ASEAN countries among government and private agency employees alike. Furthermore, the demand for English language fluency is growing among ASEAN countries since more and more employment opportunities are available for English-proficient candidates.

Regulations

In July 2014, Microsoft Corporation and Intel Corporation in collaboration with the Myanmar government announced the initiative to develop a national electronic education in the country in order to help improve computer literacy.

Segment Information:

In ASEAN smart education and learning market, by delivery model segment, desktop/mobile-based sub segment dominated the ASEAN market in 2019, accounting for 67.4% share in terms of value.

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Source: Coherent Market Insights

Competitive Section

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.

Key Developments

1. Key companies in the market are focused on collaborations and partnerships, in order to enhance the market presence. For instance, in June 2019, SMART Technologies, Inc. collaborated with Advancement Via Individual Determination (AVID) to help schools and students achieve better outcomes through a combination of AVID's methodology and SMART's technology.
2. Major companies in the market are involved in partnerships and collaborations, in order to gain competitive edge in the market. For instance, in May 2016, NIIT Ltd. partnered with edX, a U.S.-based company, to provide online courses from leading international universities including MIT and Berkeley to about 500,000 people. This is expected to enhance the learning experience by offering Massive Open Online Course learning.