Pune, India, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The edtech and smart classroom market is estimated to rise from USD 101.64 billion in 2022 to USD 319.65 billion by 2029 at a 17.8% CAGR during the forecast period. Fortune Business Insights™ has published these inputs in its latest research report, titled, “EdTech and Smart Classroom Market Forecast, 2022-2029.” As per the report, the global market size was USD 88.82 billion in 2021.
As per the assessment, bullish investments in digital infrastructure will encourage leading companies to expand their penetration. Smart hardware solutions, such as interactive whiteboards and interactive projects, will gain considerable traction. Industry players are expected to prioritize mobile learning and smart classroom in the ensuing period.
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February 2020 – Blackboard Inc. announced the selection of its edtech software and solutions for Navajo Technical University (NTU). Through the collaboration, the company offers its cloud-based deployment of a Learning Management System (LMS), virtual classroom solution, course content accessibility solution, blackboard collaborates, blackboard learns, blackboard ally, IT help desk services.
December 2020 – 2U Inc. announced a partnership with the global business school Institute for Management Development (IMD) to expand students' online learning programs. Under the 2U brand, the college aims to cover digital supply chain operations, cybersecurity for business leaders, and digital strategy.
Report Scope & Segmentation
|Forecast Period||2022 to 2029|
|Forecast Period 2022 to 2029 CAGR||17.8%|
|2029 Value Projection||USD 319.65 Billion|
|EdTech and Smart Classroom Market Size in 2021||USD 88.82 Billion|
|Historical Data for||2018 to 2020|
|No. of Pages||160|
|Segments covered||Instructional Aid, Smart Classroom Hardware, Educational Tool, End-user and Geography|
|EdTech and Smart Classroom Market Growth Drivers||Growing Investments in Education Sector to Spur Market Opportunities|
|Reduced Costs of Internet Data and Online Learning Material to Accelerate the Market Growth|
|High Cost of Infrastructure and Lack of Technical Skills to Impede the EdTech and Smart Classroom Market Growth|
End-users Emphasize Mobile Learning to Overcome Coronavirus Challenges
EdTech and Smart Classroom Market during the COVID-19 period with curriculum management software and communication platform witnessing a paradigm shift. Moreover, stakeholders have upped investments in education technology to expand the reach among low-income students. To illustrate, in 2020, an Indonesian cellular network operator, Telkomsel expressed contemplation in offering 500,000 smartphones to kids and 30GB of free data per month to users of Ruangguru, a K-12 learning app. Robust policies are likely to help edtech and smart classroom service companies surmount challenges stemming from the COVID-19 pandemic.
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How Did We Develop This Report?
We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, and average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles published by prominent magazines, and press releases of firms present in the field of edtech and smart classroom.
Drivers and Restraints
Buoyant Investments in Education Sector to Foster Growth Potentials
Stakeholders expect the edtech and smart classroom market share to gain considerable traction owing to the reduced cost of online learning material and rising investments in the education sector. Exponential growth in mobile penetration, along with a reduced cost of internet data, is poised to boot the investment portfolio. Investments in digital learning platforms will encourage leading companies to bolster their footprint across untapped areas. Prominently, steady demand for distance learning platforms will bode well for the business forecast. That said, soaring infrastructure costs and a potential shortage of technical skills could act as a bottleneck over the next few years.
Mobile Learning to be Sought-after with Rising Trend for Online Learning Programs
In terms of instructional aid, the market is segmented into mobile learning and smart classroom. The mobile learning segment will contribute notably toward the global market share on the back of increasing investments in online learning programs and distance learning programs. End-users will continue to invest in mobile learning owing to investments in advanced technology and internet penetration.
Interactive Whiteboards to Gain Traction from the E-learning Trend
Based on smart classroom hardware, the market is segregated into interactive whiteboards, interactive projectors, and others. The interactive whiteboards segment will account for a significant share due to the rising footfall of e-learning across schools and colleges.
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The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force Analysis and SWOT analysis. Quantitative and qualitative assessments have been used to provide a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
North America to Remain at Helm with Rising Adoption of Technologically Advanced Solutions
North America is likely to provide promising growth opportunities following the expansion of universities and institutions across the U.S. and Canada. Notably, technologically advanced solutions have complemented the surge in mobile users. GSMA Intelligence claims that the number of mobile users in North America will reach 328 million by 2025. North America market size was pegged at USD 38.31 billion in 2021 and will witness a similar trend during the assessment period.
The Asia Pacific edtech and smart classroom market growth will be pronounced in the wake of bullish government policies across China, Japan, Australia, and India. Leading companies are likely to cash in on expanding smart learning platforms. Smart classrooms will continue to gain a footprint with major companies prioritizing interactive learning.
Europe is likely to account for a considerable share of the global market, partly due to the adoption of e-learning solutions. Educational institutions are poised to bank on the expansion of the education sector across the U.K., Russia, Germany, and France. Furthermore, education management tools will be highly sought-after with a rising footfall of AI-enabled devices.
Key Players Focus on Partnerships & Acquisitions to Intensify Competition
The market for edtech and smart classroom contains numerous companies that are mainly focusing on acquiring specific businesses and technologies from other firms. Some of the others are striving persistently to collaborate with local organizations for co-developing and marketing new products. Below are the two latest industry developments.
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Major Players Profiled in the Report:
- SAP SE
- Apple Inc.
- IBM Corporation
- Alphabet Inc.
- Cisco Systems Inc.
- Amazon.com Inc.
- Microsoft Corporation
- SMART Technologies ULC
- Dell Inc.
- Fujitsu Limited
Major Table of Contents:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic indicators
- Drivers, Restraints, Opportlunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global EdTech and Smart Classroom Key Players Market Share Insights and Analysis, 2021
- Porter’s Five Force Analysis
- PESTLE Analysis
- Global EdTech and Smart Classroom Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Instructional Aids (USD)
- Smart Classroom
- Mobile Learning
- By Smart Classroom Hardware (USD)
- Interactive Projectors
- Interactive Whiteboards
- By Educational Tools (USD)
- Admission Automation Tools
- Administration Tools
- Learning Management Tools
- Alumni Management Tools
- Placement Management Tools
- Library Management Tools
- By End-User (USD)
- Higher Education
- By Region (USD)
- North America
- South America
- Middle East & Africa
- Asia Pacific
What is the projected value of the EdTech and Smart Classrooms market?
The global edtech and smart classroom market size was valued at USD 88.82 billion in 2021. The market is projected to grow from USD 101.64 billion in 2022 to USD 319.65 billion by 2029, exhibiting a CAGR of 17.8% during the forecast period.
Which region is expected to hold the highest market share?
North America EdTech and Smart Classroom Market to be worth USD 38.31 billion in 2021
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