WELLESLEY, Mass., Oct. 05, 2017 (GLOBE NEWSWIRE) -- Technological innovations are ushering in a new era of learning that better facilitates student collaboration and interaction in the classroom. The global market for educational technology is expected to grow at a CAGR of 14.0% between 2017 and 2022, according to a report by BCC Research, which analyzed the global market for educational hardware and software.
Recent advances in the digital education infrastructure have led institutions to implement smart education concepts and equipment, including interactive displays, tablets and desktop computers, 3D printers, learning content management systems, stylus pens and more. Educational hardware and software are projected to grow by a CAGR of 15.4% and 16.8%, respectively, between 2017 and 2022, with the combined global market estimated to reach $110.9 billion, according to the report Educational Equipment and Software: Global Markets.
One of the latest innovations in classroom technology is the introduction of wearables such as smartwatches and headgear, which can enhance student engagement in learning and allow teachers to more easily track student progress.
Research Highlights
- Globally, the use of 3D printers is expected to jump 21.6% annually through 2022. The global market for laptops will jump 17.2% while the market for classroom wearables will grow by 14.4%.
- The global educational software market is projected to grow to $35.8 billion by 2022, led by gains in assessment systems, adaptive learning platforms and learning content management systems.
- Interactive whiteboards, whose value is projected to dip by 8.4% globally between 2017 and 2022, will lose market share due in large part to the growth of personal devices.
“Technological advances continue to impact classrooms and the market for educational equipment, which will contribute to huge, double-digit growth over the next five years,” said Kevin Fitzgerald, editorial director at BCC Research. “Some factors driving this market include the increased connectivity of handheld devices, more collaboration between hardware vendors and educational content providers, and greater demand for e-learning in the academic sector.”
Major players in the educational hardware and software market in North America include Adobe, Apple, Articulate, Blackboard, Cisco Systems, Cornerstone and Dell. Major European players include D2L and Echo360, while leaders in the Asia-Pacific region are Educomp, Fujitsu and Hongen Education and Technology.
The Market for Laptops Remains Hot
With a shift toward students bringing their own devices to school, the laptop market is projected to remain robust. While North America remains the leader in terms of volume, with the regional market expected to grow to $4.0 billion by 2022, growth will be most robust in Europe, where compound annual growth is forecast to reach nearly 20% through 2022, followed closely by the Asia-Pacific region, with compound annual growth at 18.4% through the same period.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.