Education Technology and Smart Classrooms Market: Global Industry Analysis And Forecast (2024-2030)

Education Technology and Smart Classrooms Market size was valued at US$ 160.89 Bn. in 2022 and the total Education Technology and Smart Classrooms Market revenue is expected to grow at 13.5 % from 2024 to 2030, reaching nearly US$ 390.41 Bn.
Education Technology and Smart Classrooms Market Overview:
Education technology (EdTech) refers to both hardware and software that is used to educate students digitally in order to promote learning in classrooms and improve students' educational outcomes. Education technology platforms (edtech) assist students in overcoming challenges on their way to a thorough education by utilising technology for learning and teaching. Learning resources like eBooks that are accessed online from anywhere in the globe are gaining popularity.To know about the Research Methodology :- Request Free Sample Report

Digital material is simpler to produce than printed content, which has higher manufacturing expenses. A wider user base merely translates and retrieves readily accessible digital literature in numerous languages. Additionally, students, especially those with physical restrictions, listen to the educational material in an audio version to grow their vocabulary and build superior interpretative reading skills.

For instance, OrbitNote, a pdf capable app, was released in January 2023 by Text help Ltd., a well-known assistive technology provider for the EdTech sector. It is beneficial for visually impaired students to access the document by recording voice notes.

Our research methodology started with gathering information on the main vendors' revenue through secondary research in order to estimate and forecast the market for unified monitoring. To divide the market into segments, by Instructional Aid (Mobile Learning, Smart Classroom) by Smart Classroom Hardware (Interactive Whiteboards, Interactive Projectors ,Others) by Educational Tool (Learning Management Tools, Admission Automation Tools, ,Administration Tools, Alumni Management Tools, Placement Management Tools, Library Management Tools, Others) by End-user (Higher Education, K-12, Kindergarten) vendors' offerings are taken into account. These segments were then confirmed through primary research by conducting in-depth interviews with important figures, including chief executive officers (CEOs), vice presidents (VPs), directors, and executives.

In order to estimate the market size, top-down and bottom-up methods are employed. Primary and secondary research are used to identify the major players in the education technology and smart classrooms market and to calculate their market revenues. In contrast to secondary research, which required examining the annual and financial reports of the leading manufacturers, primary research involved conducting interviews with major opinion leaders and business leaders in the industry, including CEOs and marketing executives. Apple, Cisco ,Blackboard ,IBM are a few of the top significant competitors in the global education technology and smart classrooms market. For the duration of the forecast period, they are continually strategizing about mergers and acquisitions to increase their market shares and growth potential.

Covid-19 Impact:

Governments and innovators committed billions of dollars in the educational sector, allowing the edtech sector to accelerate during the pandemic. Applications for online learning are growing in popularity thanks to the millions of users throughout the globe. The effectiveness of other forms of educational technology has increased, including communication platforms, administration, and e-textbooks. The cost of educational technology devices and the internet data needed to use them has also decreased. Additionally, efforts have been made by edtech and smart classroom solution providers, other telecom firms, and the government to ensure that low-income students enrol in online courses.

For example,
A K–12 learning software called Ruangguru's users receives 550,000 to children and 30 GB of free data each month from Telkomsel, an Indonesian mobile network provider, starting in 2020.
The ministry of education distributed 3,300 pieces of equipment to low-income students in 2020, and Starhub, a Singapore-based telecommunications company, provided free broadband subscriptions to low-income students.
Education Technology and Smart Classrooms Market Dynamics:
Market drivers:

The market for education technology and smart classrooms is being driven by the increasing use of AI and ML in smart learning.Personalized eLearning experiences are produced through the growing use of AI and ML technology. By expecting outcomes using historical data, machine learning algorithms enable students access specific content linked to their interest domains. With the use of AI and ML technologies, EdTech solutions deliver eLearning content in a tailored manner. Because of the individualised online training programmes that support the achievement of their unique goals, business employees receive the information they require quickly. Artificial intelligence (AI) is used to automate processes like allocating coursework to online students and distributing online materials based on participant evaluation results.

In Online education students have the option of choosing tailored experiences over generic eLearning programmes. As a result, learners don't need to spend as much time studying the full course to achieve their objectives and develop essential abilities thanks to the course's streamlined design and personalised material. According to a recent eSchool News survey, by 2023, the use of AI technology in the education sector is expected to increase by 47.5 %. The potential for AI in education is huge. In order to improve instruction, AI help personalise learning for each student, identify and fix learning gaps, and give teachers real-time feedback.

Market restraints:

Growing cyberattacks on businesses and educational institutions raise questions about data security and privacy. Through IoT-enabled smart devices and smart wearables, educational institutions and businesses acquire a range of data in the linked environment, including information about students. Educational institutions and businesses also have access to the learner's location and other relevant data, which could result in a privacy breach. Such information extremely valuable to hackers. Since educational IT infrastructure is not safeguarded as needed to be at a corporate level, access to this data is easily obtained.

Insecure networks make it possible for hackers to access sensitive data while it's in motion. This could compromise the concerned person's security in addition to interfering with their privacy. Personal information disclosed to unintended parties and then used inappropriately. Attacks on higher education institutions have significantly increased over the past few years. This makes it more difficult for educational institutions to employ EdTech solutions.

Market Opportunities:

Governments all across the world have increased their spending on education, and the majority of nations have increased the share of investment in GDP. Governments are investing in a range of new and existing projects to meet the increased need for meeting the educational demands of future generations. Higher education institutions are encouraged and developed by greenfield projects. For instance, the construction of a new Indian Institute of Technology is expected to cost the Indian government over USD 3.0 billion (IITs). While governments are resurrecting the outdated infrastructure of campuses for higher education through brownfield projects and integrating modern technologies like IoT and big data.

Market Challenges:

Every firm has a unique set of operations for which it calls for a unique collection of staff development initiatives. Companies must train their staff in accordance with the abilities needed for a certain position as well as for internal operations involving many departments, including IT, sales, Human Resources (HR), and manufacturing. Owing to curriculum changes every predetermined number of years, educational institutions likewise experience comparable issues. The current curriculaum are then updated to reflect new inventions and discoveries.

All of these tasks call for various skill sets, for which tutors must receive training. Similar eLearning materials utilised for some purposes, but businesses and educational institutions typically require specialised eLearning materials. As a result, each business or institution needs a distinct kind of eLearning content depending on their needs. Because creating customised training eLearning content for LMS is expensive, the adoption of EdTech and smart classrooms is hindered.
Education Technology and Smart Classrooms Market Segment Analysis:
Based on Instructional Aid, The Mobile Learning segment is expected to grow at the highest CAGR during the forecast period. A sizeable portion of the market is expected to belong to the smart classroom segment. However, the global smart classroom market is expected to see a market downturn owing to the closure of schools, universities, and other educational institutions as a result of the COVID-19 pandemic.

Mobile learning is expected to gain popularity in the forecast years. Governments have developed online learning programmes, assessments, and distance learning services to lessen the danger of COVID-19 on the educational system, creating lucrative opportunities for business leaders.Based on Smart Classroom Hardware, The Interactive Whiteboards segment is expected to grow at the highest CAGR during the forecast period. The other categories are interactive displays, tables, and audio systems. Interactive projectors are the most popular options for collaborative workplace meetings and school settings. Over the forecast period, interactive whiteboards, also known as smart boards, are expected to rise at a considerable CAGR. The growth of this market is mostly owing to the increase in demand for e-learning and interactive learning among universities and institutions.

Based on Educational Tool, The Learning Management Tools segment is expected to grow at the highest CAGR during the forecast period. A result of their integration with AI-enabled capabilities, learning management systems are expected to grow at the quickest rate. As student enrollment increases globally, it is expected that the market for admission automation software grow quickly.

The administration software package includes software for customer relationship management (CRM) and corporate resource planning (ERP). Elite educational institutions employ administration software solutions to effectively manage their everyday operations. It is anticipated that the market for educational tools as a whole, including solutions for managing libraries, alumni, and placements with integrated features, will grow.Based on End-user, The Higher Education segment is expected to grow at the highest CAGR during the forecast period. The way higher education is seen and run has altered as a result of the use of tablets, gamification, learning analytics, 3D printing, and wearable technology, including fitness trackers, smartwatches, and small motion sensors. Higher education has undergone a full transformation thanks to education technology, which has enabled this sector to break through all of the previous limitations imposed by space and time. In addition to this technical requirement, many colleges now face additional difficulties in providing students with adequate higher education.

University students are given access to cutting-edge learning tools and information so that, when needed, they use this technology even on campus. The website EdTech in Higher Education has been created specifically for busy academics working in BYOD (bring your own device) or BYOT (bring your own technology) environments who want to engage their students in lectures, tutorials, and laboratories by incorporating technology and taking advantage of mobile devices' capabilities. Its objective is to give device-neutral software and app reviews, how-to instructions, and templates for individuals looking to develop their own technology-based learning materials.
Education Technology and Smart Classrooms Market Regional Insights:
Asia Pacific experience the largest CAGR growth. China has made significant investments in educational materials and ICT infrastructure over the past few decades, which has advanced the use of technology in education. In recent years, China has seen a rise in the popularity of online learning. Users of online learning are multiplying rapidly. For instance, the area offers a number of eLearning sites, such as VIPKid, an online education and learning platform that offers one-on-one English lessons to Chinese children between the ages of 4 and 15. Since the 1990s, when eLearning first gained popularity, the Chinese government has placed a high priority on its development as a result of the execution of several programmes. As a result, the area has achieved considerable advancements in the field of online learning.

India is quickly embracing cutting-edge technology, and the Indian government is instrumental in fostering its use across a range of businesses. The Digital India programme was launched by the Indian government in July 2015 with the goal of promoting technology use in India. LMS is used by the eGovernance project under the Digital India Initiative to teach individuals about eGovernment. Additionally, the Ministry of Electronics and IT and the Government of India are funding faculty training, HR development, and eLearning R&D projects. These initiatives are expected to open up attractive potential for learning management providers in the Indian market.

In the fields of media and entertainment, BFSI, healthcare, education, and technology, Japan is a pioneer. The presence of highly effective and competitive businesses across several industrial verticals is well-known for the nation. One of the key reasons influencing the adoption of EdTech and smart classroom solutions in Japan is the landscape of advanced education system solutions. The market for educational technology (EdTech) and smart classrooms in this region is expected to rise as a result of quick technological improvements and increased research and development (R&D) efforts. Japan is quickly embracing education system solutions because of the advantages they provide, including the ease of accessing content from any location, a variety of possibilities, including news, sports, music, and games, and control over the content.

The objective of the report is to present a comprehensive analysis of the Education Technology and Smart Classrooms Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Education Technology and Smart Classrooms Market dynamics, structure by analyzing the market segments and project the Education Technology and Smart Classrooms Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Education Technology and Smart Classrooms Market make the report investor’s guide.
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Global Education Technology and Smart Classrooms Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 160.89 Bn.


Forecast Period 2024 to 2030 CAGR:
13.5 %
Market Size in 2030:
US $ 390.41 Bn.


 Segments Covered:
by Instructional Aid
Smart Classroom
Mobile Learning


by Smart Classroom Hardware
Interactive Projectors
Interactive Whiteboards
Others


by Educational Tool
Admission Automation Tools
Administration Tools
Learning Management Tools
Alumni Management Tools
Placement Management Tools
Library Management Tools
Others


by End-User
Higher Education
K-12
Kindergarten



Education Technology and Smart Classrooms Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
South America (Brazil, Argentina Rest of South America)
Education Technology and Smart Classrooms Market Key Players
1. Apple
2. Cisco
3. Blackboard
4. IBM
5. Dell EMC
6. Google
7. Microsoft
8. Oracle
9. SAP
10. Instructure
11. 2U INC
12. Ellucian
13. Anthology
14. Lenovo
15. Smart Technologies
16. Cornerstone OnDemand
17. D2L
18. Workday
19. Discovery Education
20.Promethean

FAQs:

1. Which is the potential market for the Education Technology and Smart Classrooms Market in terms of the region?
Ans. In Asia Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Education Technology and Smart Classrooms Markets in educational institutes

3. What is expected to drive the growth of the Education Technology and Smart Classrooms Market in the forecast period?
Ans. A major driver in the Education Technology and Smart Classrooms Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Education Technology and Smart Classrooms Market?
Ans. Education Technology and Smart Classrooms Market size was valued at US$ 160.89 Billion in 2023 and the total Education Technology and Smart Classrooms Market revenue is expected to grow at 13.5 % through 2024 to 2030, reaching nearly US$ 390.41 Billion.

5. What segments are covered in the Education Technology and Smart Classrooms Market report?
Ans. The segments covered are Instructional Aid, Smart Classroom Hardware, Educational Tool, End-user and, Region.