The Global EdTech and Smart Classrooms Market size is expected to reach $258.9 billion by 2028, rising at a market growth of 12.8% CAGR during the forecast period.
The way that education is delivered has changed recently and over the past few decades. The educational system is successfully taking advantage of the chance to utilize technology to its utmost capacity. Governments all over the world are issuing funding and grants to assist educational institutions in adopting cutting-edge teaching methods. In addition, governments can thereby support the digitization of educational systems in their various areas and nations. The market for digital classrooms is driven by the rising demand for digital education.
Modern classrooms that are outfitted with integrated learning technologies, such as audience response systems, specialized software, and projectors, among others, to provide a better learning environment are known as "digital classrooms." In order to teach effectively, the digital classroom is also concentrating on the development of cutting-edge technologies. This action would enable instructors to engage with their students and have a beneficial impact on the e-learning business. The need for digital content that can give students the knowledge they want has recently expanded across a wide range of educational institutions.
Online learning resources are already being adapted by certain schools with excellent ICT to lessen the strain of teachers. The use of digital content will also change the entire traditional teaching approach to make lessons more interactive and collaborative. Additionally, the adoption of learning analytics & cloud computing in digital classrooms is predicted that will further propel market expansion in the coming years because these features aid to reduce spending on information technology (IT) systems.
The pandemic's onset has significantly raised the need for EdTech solutions. Due to the widespread acceptance of the online teaching-learning paradigm, educational institutions are now utilizing EdTech and smart classroom solutions for ongoing operations, exams, training, and other activities at colleges and universities. For vendors of edtech, the growing demand has created new opportunities. Adoption of EdTech solutions like LMS has also increased as a result of the increase in demand. The requirement to maintain educational institutions operating during the COVID-19 pandemic has resulted in a rise in demand for EdTech solutions. Owing to the pandemic, some European nations are concentrating on online learning and employment.
The eLearning experiences are made more individualized owing to the growing utilization AI and ML technology. Learners can access relevant information relating to user-interest domains due to machine learning (ML) algorithms that help forecast results based on historical data. With the aid of AI and ML technologies, eLearning content may be delivered by EdTech solutions in a tailored manner. In business settings, employees receive the information they require quickly thanks to customized online training programmes that support them in achieving their unique goals.
Governments throughout the world have raised their spending on education, and the majority of nations have increased the share of investment in GDP. Governments are investing in a range of new and existing projects to meet the increased need for meeting the educational demands of future generations. Higher education institutions are encouraged and developed by greenfield projects. For example, the construction of a new Indian Institute of Technology is expected to cost the Indian government over USD 3.0 billion (IITs).
With IoT-enabled smart smartphones and electronic wearables, educational institutions and businesses acquire a range of data in the linked environment, including information about students. Educational institutions and businesses also have access to the learner's location and other relevant data, which could result in a privacy breach. This information can be extremely valuable to hackers. Since educational IT infrastructure might not be as safeguarded as needed to be at a corporate level, access to this data can be easily obtained.
Based on Component, the EdTech and Smart Classrooms Market is segmented into Hardware (Interactive Displays, Interactive Projectors and Other Hardware), Software and Services. The interactive displays segment recorded the largest revenue share in the EdTech and Smart Classrooms Market in 2021. Interactive displays support tech-enhanced educational collaboration and social learning. Additionally, these students are 13% more certain to feel comfortable participating in class debates. Students could utilize devices to engage in class surveys, quizzes, and games, and then evaluate the findings in real time by establishing an audience response system on the interactive display.
By education system, the EdTech and Smart Classrooms Market is divided into Learning Management System, Student Information & Administration System, Student Collaboration System, Student Response System, Learning and Gamification, Test Preparation, Classroom Management System, Document Management System and Talent Management System. Student Information & Administration System segment recorded a substantial revenue share in the EdTech and Smart Classrooms Market in 2021. A management information system utilized by businesses in the education sector to address student data is known as a student management system, a student information system (SIS), school administration software, or student administration system.
On the basis of end-user, the EdTech and Smart Classrooms Market is bifurcated into K-12 and Higher Education. The K-12 segment recorded a significant revenue share in the EdTech and Smart Classrooms Market in 2021. Online videos have the important advantage of saving time. Since watching the video can be done at one's own pace, it is ideal for both busy students and those who need to brush up on their knowledge. Owing to the shift in perspective, educational videos help viewers retain their knowledge more effectively.
Based on deployment type, the EdTech and Smart Classrooms Market is classified into Cloud and On-Premises. The on-premises segment acquired a significant revenue share in the EdTech and Smart Classrooms market in 2021. It is due to the rising cybersecurity problems among companies and institutions. Along with that, there are many educational institutions which are investing in the adoption of latest hardware, software and services for providing better education to the students.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 112.3 Billion |
| Market size forecast in 2028 | USD 258.9 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 12.8% from 2022 to 2028 |
| Number of Pages | 355 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Type, Education System, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the EdTech and Smart Classrooms Market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific acquired a substantial revenue share in the EdTech and Smart Classrooms market in 2021. China has made significant investments in educational materials and ICT infrastructure over the past few decades, which has advanced the use of technology in education. In recent years, China has seen a rise in the popularity of online learning. Internet users learning are multiplying rapidly.
Free Valuable Insights: Global EdTech and Smart Classrooms Market size to reach USD 258.9 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Google LLC, Oracle Corporation, SAP SE, Apple, Inc., Lenovo Group Limited, Instructure, Inc., and Udemy, Inc.
By Component
By Deployment Type
By End User
By Education System
By Geography
The global EdTech and Smart Classrooms Market size is expected to reach $258.9 billion by 2028.
Increasing Usage Of Ml And Ai In Smart Learning are driving the market in coming years, however, Growing Security And Privacy Concerns restraints the growth of the market.
Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Google LLC, Oracle Corporation, SAP SE, Apple, Inc., Lenovo Group Limited, Instructure, Inc., and Udemy, Inc.
The Cloud segment acquired maximum revenue share in the Global EdTech & Smart Classrooms Market by Deployment Type in 2021 thereby, achieving a market value of $127.3 billion by 2028.
The Higher Education segment is leading the Global EdTech & Smart Classrooms Market by End User in 2021 thereby, achieving a market value of $165.2 billion by 2028.
The North America market dominated the Global EdTech & Smart Classrooms Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $87 billion by 2028.
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