EdTech and Smart Classroom Market worth $181.3 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 23, 2020 /PRNewswire/ -- According to a new market research report "EdTech and Smart Classroom Market by Hardware (Interactive Displays, Interactive Projectors), System (LMS, SIS, TMS), Technology (Gamification, Analytics, Advanced Technology), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the EdTech and Smart Classroom Market size expected to grow from USD 85.8 billion in 2020 to USD 181.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.1% during the forecast period.
The major factors driving the growth of the EdTech and Smart Classroom Market include increasing penetration of mobile devices and easy availability of internet, and growing demand for online teaching-learning models, impact of COVID-19 pandemic and growing need for EdTech solutions to keep education system running in lockdown.
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Interactive Displays segment to hold the largest market size during the forecast period
The interactive display is a hardware device that opens up content, predominantly technological content, and inspires a level of interactivity that is challenging to attain with conventional textbook-based learning. The presence of an interactive display can impact learning in several ways as it serves to raise the level of learner engagement, inspires students, and encourages enthusiasm for learning. Interactive displays are progressively being seen as a vital requirement for teaching in K-12, higher education, and corporate organizations. These displays are innovative, new generation hardware using wireless technologies. Interactive displays are entirely technology-enabled and are widely used in an advanced and mature market. This hardware has been widely used globally since it allows organizations to process and present data in an effective manner. Interactive displays are used to display content, such as images, videos, and video calls. The education sector is the most primitive adopter of interactive displays influenced by encouraging responses from trainers, students, and teachers.
Cloud deployment type to record the fastest growth rate during the forecast period
In the cloud-deployed EdTech, solutions are hosted over the internet connection, and users can log into the service provider's site. Teachers or trainers can upload course content, create new courses, and interact with learners via their internet browsers to refrain from the installation of the required management software. Instructional designers can store any information on the cloud, and this can be remotely accessed by approved users in any location. This deployment type is preferred for its features, such as better and enhanced security, lower setup costs, easy accessibility, quicker deployment, highly scalable, customizable, enhanced storage space, ease of maintenance, automatic upgrade of course materials, and automatic licensing done by vendors. In this type, learning is delivered to the learner, anywhere and anytime via the browser.
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APAC is projected to be the fastest growing region during the forecast period
APAC countries considerably contribute to the growth of the EdTech and Smart Classroom Market. The adoption of EdTech solutions has explicitly been implemented in this region to discover the power of innovative learning methodologies. Intrinsic strength and rapid economic growth make this region one of the fastest-growing education markets internationally. Countries such as Australia and Japan are expected to experience significant growth because of a wider technological infrastructure. The EdTech and Smart Classroom Market is an upcoming segment with high growth potential in this region. The demand for custom eLearning content and technologies is one of the factors is driving the Asian EdTech and Smart Classroom Market. APAC continues to be the largest exporters and consumers of education services. APAC countries differ greatly, some being among the most technologically developed, while others still show signs of major weakness in terms of adopting the latest technologies. APAC is considered to be one of the major regions for EdTech solution providers, as it covers a large terrestrial area and holds significant growth in this market. APAC continues to experience rapid growth in all areas of technology. The region being broad and diverse, not all countries enjoy the same levels of technological expansion and approachability.
Market Players
Some prominent players across all service types profiled in the EdTech and Smart Classroom Market study include Apple (US), Cisco (US), Blackboard (US), IBM (US), Dell EMC (US), Google (US), Microsoft (US), Oracle (US), SAP (Germany), Instructure (US).
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