Global EdTech and Smart Classrooms Market is valued at approximately USD 110.69 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.20% over the forecast period 2022-2029. EdTech and Smart Classrooms is a hardware and software that is specially designed to digitally educate students for encouraging classroom learning and enhance the student's educations. The EdTech and Smart Classrooms are learning modes, education applications. It uses projectors, interactive displays, interactive whiteboards, printers, audio systems and many more. The EdTech and Smart Classrooms market is expanding because of factors such as the rising demand for smartphones and the increasing demand for E-Learning platforms. However, the first key factor is rising smartphone demand, as smartphones are used for digital education due to the increase in the demand for EdTech and Smart Classrooms around the world. Another key factor is the increasing demand for E-Learning platforms due to the increase in market growth across the world.
According to Statista, the user of smartphones in the year 2021 is USD 298 million and the user of smartphones in the year 2022 is USD 301.65 million. Another factor is the increasing demand for E-Learning Platforms. For instance, according to Statista, the revenue of the E-Learning platform in the year 2022 is USD 56.69 billion and the expected revenue of the E-Learning platform in the year 2027 is USD 64.50 billion. Therefore, it is increasing the market growth. The opportunity of EdTech and Smart Classrooms is rising public awareness about the benefits of high-tech education due to the increase in market demand over the forecast period.
However, the high cost and lack of technical skills stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global EdTech and Smart Classrooms Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the marketin terms of revenue, owing to the dominance of increasing expansions of institutions and universities as well as increasing the technological advancements. Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as increasing adoption of innovative learning methods, increasing e-learning users and increasing demand forcustom e-learning content in education institutions that would create lucrative growth prospects for the EdTech and Smart Classrooms market across the Asia Pacific region.
Major market players included in this report are:
International Business Machines Corporation
Lenovo Group Limited
Recent Developments in the Market:
In July 2020, IBM collaborated with CBSE. The main goal of this collaboration is to integrate the AI curriculum into 200 schools across India.
In April 2020, Cisco and IBM declared their a collaborative agreement in order to provide assistance for distance learning. The primary objective of this collaboration is to allow schools in Europe to adopt Cisco's currently free Webex service to enhance distance learning.
Global EdTech and Smart Classrooms Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Hardware, Education System, End User, Deployment, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Education System:
Learning Management System
Student Information and Administration System
Student Collaboration System
Student Response System
Learning and Gamification
Classroom Management System
Document Management System
Talent Management System
By End User:
Rest of the World