|Market Size in 2019||Market Forecast in 2026||CAGR (in %)||Base Year|
|USD 73.9 Billion||USD 210.3 Billion||15.8%||2019|
EdTech & Smart Classroom Market
The EdTech & Smart Classroom market size is set for rapid growth over the forecast period. In terms of revenue, the global EdTech & Smart Classroom market accounted for USD 73.9 Billion in 2019 and is expected to reach USD 210.3 Billion by 2026, growing at a CAGR of 15.8% from 2020 to 2026.
EdTech and Smart Classrooms are the technologies that have revolutionized the traditional methods used for learning and teaching in the realm of education. Education technology can be elucidated as the application and integration of educational theories, hardware, and software to facilitate learning, training, and teaching as well as enhance performance using technical processes and resources. While the extended version of the educational technology is referred to as a smart classroom. The smart classrooms are not restricted by the number of hours, attendance, and location. They are highly equipped with projectors, tablets, and smart notebooks thereby enhancing the capabilities of learning and understanding of the students.
A huge amount of investments made by the government in the educational sector, the use of technological advancement in conducting classes online, and available internet services are some of the factors driving the market. In addition to this, most importantly the current outbreak of COVID-19 is spurring the growth of the market. Moreover, schools are highly focused on the use of technology to improve educational quality by implementing a system of smart classrooms. In developed countries, most private schools already have smart classrooms, and e-learning platforms and also have compulsory use of tabs from pre-primary schools.
Nowadays this trend is not been limited to private schools, government schools have also entered the race of using smart classrooms to increase their rate of literacy and attract more students. Additionally, not only schools, colleges, or universities but also institutes providing education are using technologies to offer distance learning programs thereby going beyond geographical limitations.
However, teachers with a lack of experience in using advanced techniques in underdeveloped countries can hinder the growth of the market. Furthermore, the adoption of e-learning and digital education to increase literacy will create a good opportunity for the market in the forthcoming years.
The EdTech & Smart Classroom market is segmented based on system, deployment, end users, and region. The system segment is further bifurcated into the student information system, classroom collaboration system, classroom management system, document management system, and others. Based on deployment, the market is split into the cloud and on-premises. The end-user segment is divided into kindergarten, K-12, and higher education.
|Report Attributes||Report Details|
|Report Name||EdTech & Smart Classroom Market Research Report|
|Market Size in 2019||USD 73.9 Billion|
|Market Forecast in 2026||USD 210.3 Billion|
|Growth Rate||CAGR of 15.8%|
|Number of Pages||210|
|Key Companies Covered||Apple, Cisco, IBM, Dell, Google, Microsoft, Oracle, SAP, Lenovo, Blackboard Inc., SMART Technologies, and Ellucian|
|Segments Covered||By System, By Deployment, By End User and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2016 to 2019|
|Forecast Year||2019 - 2026|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Some of the key players in the EdTech & Smart Classroom market are Apple, Cisco, IBM, Dell, Google, Microsoft, Oracle, SAP, Lenovo, Blackboard Inc., SMART Technologies, and Ellucian, among others.
North America holds the major share in the market share during the forecast period due to the presence of hi-tech tools and advanced technologies applicable in the education sector. This region is also showing prominent growth in the EdTech and Smart Classroom market due to the increasing number of educational apps.
Asia Pacific region is estimated to show substantial growth in the forecast period due to the rising adoption of e-learning solutions.
By End User
The global EdTech & Smart Classroom market was valued at USD 73.9 Billion in 2019.
The global EdTech & Smart Classroom market is expected to reach USD 210.3 Billion by 2026, growing at a CAGR of 15.8% between 2020 to 2026.
Some of the key factors driving the global EdTech & Smart Classroom market growth are increasing investments in education technology, growing adoption of e-learning, and outbreak of COVID-19.
North America region is expected to hold a huge chunk of the EdTech & Smart Classroom market. This is attributable to the presence of major players such as IBM, Microsoft, and Apple, among others. Asia Pacific region is anticipated to grow at a significant rate owing to the rising demand for EdTech & Smart Classroom in developing economies such as China and India.
Some of the major companies operating in the EdTech & Smart Classroom market are Apple, Cisco, IBM, Dell, Google, Microsoft, Oracle, SAP, Lenovo, Blackboard Inc., SMART Technologies, and Ellucian, among others.