The global EdTech and smart classroom market size is expected to grow from USD 85.8billion in 2020 to USD 181.3billion 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 growing adoption of eLearning solutions, impact of COVID-19 pandemic and growing need for online teaching-learning models to continue education system in lockdown.
Learning management systemsegment to hold the largest market share during the forecast period
The LMS applications are used for the supervision, certification, tracking, and offering of eLearning applications. These systems primarily track classroom instructions, automate learning administrations, and provide tools to manage and create content. They allow institutions to access educational content online, thereby enabling students to view materials using the web browser. There exists a wide range of systems that deal with management training and educational records, which facilitate blended and online courses for collaboration between teachers and students.
Higher education segment to record the fastest growth rate during the forecast period
Tablet computing, gamification, learning analytics, 3D printing, and wearable technical gadgets, such as small motion sensors, fitness trackers, and smartwatches have changed the vision of higher education and its operations. Education technology has completely revolutionized higher education, helping the segment to overcome all the traditional barriers that were imposed by space and time. Apart from this technical demand, there are many universities, which are themselves facing new challenges related to equipping the students with adequate higher education. University students are provided with advanced education technologies and knowledge so that when required, students can leverage this technology even when they are on the campus premises.
North Americato account for the largest market share during the forecast period
North America plays a huge role in the development of technologies, which helps in the adoption of new EdTech solutions across major end user segments. A significant increase in the number of mobile learning applications has been witnessed in the region. According to an article published by Edweek Market Brief in February 2019, spending on educational technology to date exhibits to be more than USD 13.0 billion in the US alone. The North America Education Technology (EdTech) market is growing significantly with abundant investments. In 2017, investments in EdTech products were more than USD 9.5 billion.
This market has also brought in many programs that are designed to help with elementary math and English skills. Various students and educators in the region are adopting mobile apps, allowing them to access information at any time and any place.
A large number of organizations in North America are adopting learning technologies that are not limited to internal training purposes. Learning technologies, such as ones provided by Docebo, should become a part of the larger spectrum of systems and be able to integrate seamlessly with different IT legacy systems, such as ERP, Customer Relationship Management (CRM), and video conferencing tools. North America is expected to integrate EdTech solutions as it enables users to increase the collaboration and connections in the learning environment. The North American adoption and market share is significantly higher as compared to other regions, as enterprises here are more receptive to the implementation of such solutions.
- By Company Type: Tier 1 – 48%, Tier 2 – 37%, and Tier 3 – 15%
- By Designation: C-level Executives – 34%, Directors Level – 40%, Manager Level -26%
- By Region: North America – 42%,Europe– 31%, APAC– 16% and Rest of the World – 11%.
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)
The market studycoversthe EdTech and smart classroom market across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as hardware (interactive displays, interactive projectors), education system (Learning Management System, Student Information System, Classroom Assessment System, Classroom Collaboration System, Classroom Management System, Document Management System, Student Response System, Talent Management System), enabling technology (gamification, analytics, ERP, Security, advanced technology), end user (K-12, kindergarten, higher education), deployment type (cloud, on-premises), and region (North America, Europe, APAC, MEA and Latin America).The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Frequently Asked Questions
1. What is EdTech?
EdTech is defined as the application of scientific knowledge and learning to improve the effectiveness and efficiency of teaching and training. Smart classrooms are technology-enabled classrooms designed for the efficient and flexible integration of diverse teaching technologies and a variety of teaching styles in the teaching-learning process. A smart classroom can be defined as a classroom with teaching equipment and technology systems that can be used to assist and enhance the instruction of a course.
2. Which are the end users of EdTech solutions covered in the report?
This report covers end users including K-12, kindergarten, and higher education.
3. What is the forecast of the EdTech and smart classroom market in the next five years?
The global EdTech and smart classroom market size is expected to grow from USD 85,818 million in 2020 to USD 181,265 million by 2025, at a Compound Annual Growth Rate (CAGR) of 16.1% during the forecast period.
4. Which countries are considered in the regions?
The market has been segmented into five regions, such as North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LATAM). North America includes the US and Canada, Europe consists of the United Kingdom, Germany, France and Rest of Europe (includes Italy and Spain), APAC includes China, India, Japan and Rest of APAC (includes ANZ and Malaysia), MEA includes UAE, KSA, South Africa and Rest of MEA (includes Turkey and Israel) and LATAM includes Brazil, Mexico, Argentina and Rest of LATAM (includes Venezuela, Chile, and Colombia)
5. What are the primary growth factors for the EdTech and smart classroom market globally?
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 eLearning solutions, impact of COVID-19 pandemic and growing need for online teaching-learning models to keep running the education system in lockdown.
Key benefits of buying the report
- The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall EdTech and smart classroom market and its segments.
- This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
- The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.