EdTech and Smart Classrooms Market worth $232.9 billion by 2027 - Exclusive Report by MarketsandMarkets™

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Jul 14, 2022, 11:00 ET

CHICAGO, July 14, 2022 /PRNewswire/ -- According to a new market research report "EdTech and Smart Classrooms Market by Hardware (Interactive Displays, Interactive Projectors), Education System Solution (LMS, TMS, DMS, SRS, Test Preparation, Learning & Gamification), Deployment Type, End User and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global EdTech and Smart Classrooms Market to grow from USD 125.3 billion in 2022 to USD 232.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 13.2% during the forecast period. The major factors driving the growth of the EdTech and Smart Classrooms Market include increasing demand of eLearning solutions, AI based learning.

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Interactive Displays segment to hold the highest market size during the forecast period

Interactive displays help to collaborate teaching with tech boost social learning. As per a study it has been discovered that frequent group activity in classrooms, often aided by technology, can result in 20% higher levels of social-emotional skill development. Students in these classes are also 13% more likely to feel confident contributing to class discussions. Interactive display encourages the real time collaboration. SMART Boards facilitate the necessary collaboration for students to develop these skills. Creating an audience response system on the interactive display allows students to use devices to participate in class surveys, quizzes, and games, and then analyse the results in real time. A large interactive whiteboard (IWB), also known as an interactive board or a smart board, is a large interactive display board in the shape of a whiteboard. It can be a standalone touchscreen computer used to perform tasks and operations on its own, or it can be a connectable apparatus used as a touchpad to control computers from a projector. They are used in a variety of settings, such as classrooms at all levels of education, corporate board rooms and work groups, professional sports coaching training rooms, broadcasting studios, and others.

Cloud deployment type to record the fastest growth rate during the forecast period

Technology innovation has provided numerous alternative solutions for businesses of all sizes to operate more efficiently. Cloud has emerged as a new trend in data centre administration. The cloud eliminates the costs of purchasing software and hardware, setting up and running data centres, such as electricity expenses for power and cooling of servers, and high-skilled IT resources for infrastructure management. Cloud services are available on demand and can be configured by a single person in a matter of minutes. Cloud provides dependability by storing multiple copies of data on different servers. The cloud is a potential technological creation that fosters change for its users. Cloud computing is an information technology paradigm that delivers computing services via the Internet by utilizing remote servers, database systems, networking, analytics, storage systems, software, and other digital facilities. Cloud computing has significant benefits for higher education, particularly for students transitioning from K-12 to university. Teachers can easily deliver online classes and engage their students in various programs and online projects by utilizing cloud technology in education. Cloud-based deployment refers to the hosted-type deployment of the game-based learning solution. There has been an upward trend in the deployment of the EdTech solution via cloud or dedicated data center infrastructure. The advantages of hosted deployment include reduced physical infrastructure, lower maintenance costs, 24×7 accessibility, and effective analysis of electronic business content. The cloud-based deployment of EdTech solution is crucial as it offers a flexible and scalable infrastructure to handle multiple devices and analyze ideas from employees, customers, and partners.

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Asia Pacific is projected to be the fastest growing region during the forecast period

Asia Pacific countries considerably contribute to the growth of the EdTech and Smart Classrooms 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. Asia Pacific includes countries with the largest Education System Solutions in the world. China and India can be considered as countries with the top three Education System Solutions in terms of students. This is expected to encourage EdTech and smart classrooms solution providers to enter into Asia Pacific. Asia Pacific countries such as China, India, and Australia have a high student population. Hence, higher educational institutions in these countries are expected to adopt EdTech and smart classrooms solutions at a high rate. The increasing number of 5G infrastructure development initiatives in the region drives the market growth. The EdTech and Smart Classrooms 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 Classrooms Market. Asia Pacific continues to be the largest exporters and consumers of education services. Asia Pacific 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. Asia Pacific 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. Asia Pacific 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 levels.

The Asia Pacific includes countries with the largest education systems in the world. China and India can be considered countries with the top three education systems in terms of students.

According to UNESCO, around 1.26 billion students have faced interruptions due to the COVID- 19 outbreak. It is estimated that about 300 million students from India are impacted during this pandemic.

Market Players

Some prominent players across all service types profiled in the EdTech and Smart Classrooms 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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