Overview and Scope
EdTech (a combination of ‘education’ and ‘technology’) refers to hardware and software designed to enhance teacher-led learning in classrooms and improve students’ education outcomes. A smart classroom is an EdTech-upgraded classroom that enhances the teaching and learning process for both the teachers and the students by inculcating technology and virtual means of learning such as audio, video, animations, images, and multimedia. The edtech and smart classrooms are used to provide interactive and collaborative way of learning for people.
Sizing and Forecast
The edtech and smart classrooms market size has grown rapidly in recent years. It will grow from $163.04 billion in 2023 to $189.18 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising digital transformation and a rise in internet penetration.
The edtech and smart classrooms market size is expected to see rapid growth in the next few years. It will grow to $365.06 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to increasing government support, rising investments and an increasing penetration of mobile devices. Major trends in the forecast period include artificial intelligence in edtech and smart classrooms, focus on technology advancement, focus on virtual learning environment focus on and strategic partnerships and collaborations.
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Segmentation & Regional Insights
The edtech and smart classrooms market covered in this report is segmented –
1) By Education System: Learning Management Systems, Student Information And Administration Systems, Student Collaboration Systems, Student Response Systems, Learning And Gamification, Test Preparation, Document Management Systems, Classroom Management Systems, Talent Management Systems
2) By Deployment: Cloud, On-Premises
3) By Hardware: Interactive Displays, Interactive Projectors
4) By Component: Hardware, Software And Services
5) By End Use: K-12, Higher Education, Kindergarten
North America was the largest region in the edtech and smart classroom market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the edtech and smart classrooms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing investment in eLearning and EdTech is driving the growth of edtech and smart classrooms market going forward. E-learning stands for electronic learning and it allows people to learn via electronic media, typically on the internet. It allows users to take courses online using electronic devices, such as a computers, tablets, and even smartphones. E-learning uses EdTech which is the use of technology and technology processes to facilitate learning and improve performance. For instance, according to UN Children’s Fund (UNICEF) data reported in March 2021, globally more than 168 million school children missed out on learning in class, as schools in some 14 countries remained largely shut due to COVID-19-related lockdowns. Therefore, this has presented an opportunity for e-learning & edtech providers to capture the market thereby prompting increased investments in the sector. For Instance, according to a report by Tracxn, an India-based platform for tracking start-ups and private companies, Indian ed-tech companies have raised $248 million from January to July 2022 from different sources. The Indian ed-tech companies raised $101 from January to July in 2021, and $251 million annually in 2021. Global ed-tech investments are worth $1.21 billion in 2022. Therefore, the growing investment in eLearning and EdTech will drive the edtech and smart classrooms market.
Key Industry Players
Major companies operating in the edtech and smart classrooms market report are Microsoft Corporation, Dell Technologies Inc, Oracle Corporation, Apple Inc, SAP SE, Anthology Inc, Cisco Systems Inc, Ibm Corporation, Alphabet Inc, Lenovo, Openlearning, Typsy, Think And Learn (Byju’s), Coursera, Udemy, Atama Plus, Yuanfudao, Vipkid, Zuoyebang, Hujiang, Huohua Siweiare, Teachbuddy, Edurino, Hownow, Eruditus, House Of Math, Bloomcoding, Kahoot, Gostudent, Rainly, Futurelearn, Brainly, Skriware, Nuadu, Maximum Education, Kodland, Dnevnik, Datamonkey, Kinderpedia, Adservio, Code Of Talent, Photomath, Coding Dojo, Devx School, Coco Coders, Eduthings, Outschool, Kindertales, Prosple, Zipboard, Gravity, Agenda Coruja, Educatec, Estuda, Skore.Io, Mkcoach, Signa, Education Journey, Menty, Openpbl.Ai Tecnologia Educacional Ltd, Equipo Toknet, Acamica, Lectio, Mechi Learning, Masterschool, Tonara, Strigo, Tinytap, Almentor, Zenda, Englease, Algooru, Yourself, Ynmodata, Hyperion Development, The Student Hub, Watobe, Orcas, Sprints, Oto Courses, Colnn, Ulesson, Splatt, Roducate
The edtech and smart classrooms market report table of contents includes:
1. Executive Summary
2. EdTech And Smart Classrooms Market Characteristics
3. EdTech And Smart Classrooms Market Trends And Strategies
4. EdTech And Smart Classrooms Market – Macro Economic Scenario
5. Global EdTech And Smart Classrooms Market Size and Growth
…
32. Global EdTech And Smart Classrooms Market Competitive Benchmarking
33. Global EdTech And Smart Classrooms Market Competitive Dashboard
34. Key Mergers And Acquisitions In The EdTech And Smart Classrooms Market
35. EdTech And Smart Classrooms Market Future Outlook and Potential Analysis
36. Appendix
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