Pune, India, June 14, 2021 (GLOBE NEWSWIRE) -- The global edtech and smart classroom market size stood at USD 85.29 billion in the year 2020. The growth is attributable to the realization of the importance of a holistic learning environment by institutes and students and universities investing in it. As per the report, the global market exhibited a stellar growth of 14.7% in 2020 in comparison to the average annual growth during 2017-2019. The market is estimated to grow from USD 98.19 billion in 2021 to USD 302.46 billion in 2028 at a CAGR of 17.4% during the forecast period.
Due to rapid adoption of modern learning tools by several students, the teaching institutes are compelled to adopt the same to keep up with the trend. Therefore, these institutes are witnessing spending more on such tools and digital. For instance, as per HolonIQ, which is an education intelligence provider, about 3% expenditure of total educational quota is done on digital infrastructure. This information is published by Fortune Business Insights™, in its report, titled, “EdTech and Smart Classroom Market Size, Share & COVID-19 Impact Analysis, By Instructional Aids (Smart Classroom, and Mobile Learning), By Smart Classroom Hardware (Interactive Projectors, Interactive whiteboards) By Educational Tools (Admission Automation Tools, Administration Tools, Learning Management Tools), By Technology (Gamification, Analytics, Enterprise Resource Planning (ERP)), By End-User, and Regional Forecast, 2021-2028.”
COVID-19 Impact
During the unfortunate series of lockdowns, governments of all regions implemented stringent rules and norms to help dwindle the spread of the virus. Governments of several regions announced lockdowns to curb the spread of the virus. This compelled the educational institutes to come up with a solution to continue teaching even in such worse conditions. Therefore, the edtech segment gained momentum amidst pandemic as developers as well as governments made investments worth billions of dollars into the education sector. The online learning platforms are gaining immense demand, with millions of users across the globe, all by following the lockdown and social distancing protocols.
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Segmentation
On the basis of instructional aids, the market is classified into smart classroom and mobile learning. The mobile learning segment is expected to observe a positive curve in the upcoming years. For security measures, several governments have compelled institutions to introduce online learning programs, online exams, as well as distance learning programs for students to diminish the impact of the COVID-19 crisis.
Based on hardware, the market is segmented into interactive projectors, interactive whiteboards. By educational tools, the market is divided into admission automation tools, administration tools, learning management tools, alumni management tools, placement management tools, and library management tools. By technology, the market is classified into gamification, analytics, enterprise resource planning (ERP) and advanced technology. The demand for edtech and smart classroom solutions is increasing across several end-users such as higher education, K-12, and kindergarten. Geographically, the market is classified into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage
We follow a comprehensive research methodology that focuses majorly on offering accurate information. Our researchers have used a data triangulation technique which would help us to provide authentic estimates and gauge the overall market dynamics. Besides, our analysts gained access to several global and regional paid databases for delivering the latest information so that you can invest only in the crucial zones.
Drivers and Restraints
Growing Investments in Education Sector to Spur the EdTech and Smart Classroom Market Growth
The market has observed a significant shift in the past few years, backed by high uptake and surged educational expenditure of mobile technology. For example, as per a report by HolonIQ, in the year 2018, China was accountable for about 63% of the total EdTech investment. Likewise, EdTech start-ups regarding skill development have been receiving enormous funding. For instance, Roblox, which is an online gaming platform popularly known for delivering programming tutorials, managed to raise USD 150 million in funding in February 2020. Considerable investments and budgets are anticipated to steer the market growth in the near future.
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Regional Insights
North America to Ace the Market Backed by Surging Number of Mobile Users
North America stood at USD 36.31 billion in 2020. The region holds the highest edtech and smart classroom market share and is rapidly expanding on account of the adoption of technologically advanced solutions by schools and other learning institutes, to offer insightful training to their students. According to the GSMA intelligence, the number of cell-phone users in this region is estimated to surpass 328 million by 2025.
Asia Pacific is expected to exhibit a fast growth rate during the forecast period of 2021-2028. Government initiatives such as literacy growth projects funded by the government in rural areas are anticipated to propel the demand for smart education programs across emerging as well as emerging economies such as India, Australia, among others.
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Competitive Landscape
Partnerships and Mergers to Help Developers Innovate New Ideas and Expand Edtech and Smart Classroom Business
Prominent players in the market often come up with efficient strategies that include partnerships, acquisitions and mergers, product launches, etc. These strategies bolster their position as leading players and also benefit the other involved companies.
For example, in July 2020, IBM announced its partnership with the Central Board of Secondary Education in India (CBSE), to apply artificial intelligence (AI) in the revised curriculum. This new curriculum is available and executed in 13 states and across 200 schools.
Industry Development
October 2020: Impero Inc. announced its partnership with Nebraska Educational Service Unit Coordinating Council (ESUCC) to issue Impero Education Pro (IEP) for distance monitoring and software management for educational purposes.
List of Key Players Covered in the Market:
- SAP SE (Walldorf, Germany)
- Apple Inc. (California, United States)
- IBM Corporation (New York, United States)
- Alphabet Inc. (California, United States)
- Cisco Systems Inc. (California, United States)
- NetDimensions (Holdings) Limited (Hong Kong)
- Amazon.com Inc. (Washington, United States)
- Microsoft Corporation (Washington, United States)
- SMART Technologies ULC (Calgary, Canada)
- Dell Inc. (Texas, United States)
- Cornerstone On-demand Inc. (California, United States)
- 2U, Inc. (Maryland, United States)
- Fujitsu Limited (Tokyo, Japan)
- Anthology Inc. (Boca Raton, Florida)
- Ellucian Company L.P. (Virginia, United States)
- Discovery, Inc. (New York, United States)
- Blackboard Inc. (Washington, D.C., United States)
- Jenzabar, Inc. (Massachusetts, United States)
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Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Edtech and Smart Classroom Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Primary Interviewee’s Key Responses
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Edtech and Smart Classroom Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Instructional Aids (Value)
- Smart Classroom
- Mobile Learning
- By Smart Classroom Hardware (Value)
- Interactive Projectors
- Interactive whiteboards
- Others
- By Educational Tools (Value)
- Admission Automation Tools
- Administration Tools (ERP & CRM)
- Learning Management Tools
- Alumni Management Tools
- Placement Management Tools
- Library Management Tools
- By Technology (Value)
- Gamification
- Analytics
- Enterprise Resource Planning (ERP)
- Advanced Technology (AI, AR, VR, Robotics, and Blockchain)
- Others
- By End-user (Value)
- Higher Education
- K-12
- Kindergarten
- By Region (Value)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Instructional Aids (Value)
- North America Edtech and Smart Classroom Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Instructional Aids (Value)
- Smart Classroom
- Mobile Learning
- By Smart Classroom Hardware (Value)
- Interactive Projectors
- Interactive whiteboards
- Others
- By Educational Tools (Value)
- Admission Automation Tools
- Administration Tools (ERP & CRM)
- Learning Management Tools
- Alumni Management Tools
- Placement Management Tools
- Library Management Tools
- By Technology (Value)
- Gamification
- Analytics
- Enterprise Resource Planning (ERP)
- Advanced Technology (AI, AR, VR, Robotics, and Blockchain)
- Others
- By End-user (Value)
- Higher Education
- K-12
- Kindergarten
- By Country (Value)
- US
- Canada
- Mexico
- By Instructional Aids (Value)
- Global Edtech and Smart Classroom Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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