Market Dynamics- Drivers
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.
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.
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.
Market Dynamics- Restraints
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.
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
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.
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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