Top Three Factors Driving Growth In The EdTech And Smart Classrooms Market - By The Business Research Company

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Mar 14, 2023, 06:31 ET

The Business Research Company's Global Market Reports Are Now Updated With The Latest Market Sizing Information For The Year 2023 And Forecasted To 2032

LONDON, March 14, 2023 /PRNewswire/ -- As per The Business Research Company's EdTech And Smart Classrooms Global Market Report 2023, the global edtech and smart classrooms market size will grow from $140.2 billion in 2022 to $162.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 16%. The edtech and smart classrooms market value is then expected to grow to $304.6 billion in 2027 at a CAGR of more than 16%.

The global edtech and smart classrooms market is fragmented, with a large number of small players. Microsoft Corporation was the largest competitor with 8.1% share of the edtech and smart classrooms market, followed by Dell Technologies Inc., Oracle Corporation, Apple Inc., SAP SE, Anthology Inc., Cisco Systems Inc., IBM Corporation, Alphabet Inc. and Lenovo.

Learn More On The EdTech And Smart Classrooms Market Report – https://www.thebusinessresearchcompany.com/report/edtech-and-smart-classrooms-global-market-report

Top three drivers that are encouraging players to expand their operations in edtech and smart classrooms market are:

1. Increase In Government Support

Growing government efforts to raise public awareness of the items that are offered are affecting the edtech and smart classrooms market's overall expansion. For instance, in June 2022, the Strategy for Accelerating Human Capital Development (HCD) in Nigeria, which was launched in Abuja, shows the primary aims that the Nigerian government intends to attain by 2030 in three important areas: health and nutrition, education and the labor force. Nigeria has the highest number of out-of-school children in Sub-Saharan Africa, estimated at 10.2 million children, and the country plans to lower it by at least 70% over the next eight years.

2. Rising Investments

Investments in digital learning platforms will motivate businesses to expand into new markets. For example, in January 2022, Orcas, an Egypt-based live learning tech company, raised $2.1 million in its pre-Series A round. With this investment, Orcas will be able to continue developing its technology offering, recruit additional talent and grow into other locations in the MENAP (Middle East, North Africa, Afghanistan and Pakistan) region.

3. Increasing Penetration Of Mobile Devices

Students can be liberated from the restrictions of the traditional classroom by using mobile information technologies, which enable learning while on the go. With a mobile device, students can do research, work with peers, document their learning and get feedback from teachers anywhere, at any time. For example, in 2022, according to GSMA Intelligence, a UK-based source of mobile industry insights, there were precisely 5.13 billion mobile device owners worldwide, representing 66.5% of the world's population.

Request A Free Sample Of The EdTech And Smart Classrooms Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=7545&type=smp

The Business Research Company suggests players in the various edtech and smart classrooms market segments to take up market-trend-based strategies such as implementation of artificial intelligence in edtech and smart classrooms, focus on virtual learning environment and seek strategic partnerships and collaborations.

According to the edtech and smart classrooms market analysis, North America was the largest region in the edtech and smart classrooms market, accounting for 35.2% of the total in 2022. Going forward, edtech and smart classrooms market companies should also focus on the Asia Pacific and the Middle East regions, since they are the fastest growing markets in the forecast period.

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