EdTech and Smart Classrooms Market Forecast Explores Factors Driving Market Expansion

EdTech and Smart Classrooms Market Scope and Overview

The EdTech and Smart Classrooms Market was worth USD 139.9 billion in 2023, and it’s expected to be reached over USD 385.4 billion in 2031 and grow by CAGR of 13.5% over the forecast period 2024-2031.

The Edtech and smart classroom market has undergone a rapid transformation in recent years. This shift is attributed to the widespread adoption of mobile technology and rising education spending. Investment in venture capital-backed education companies has witnessed a significant increase, with global commitments reaching USD 14.6 billion in 2020, compared to USD 7 billion in 2019. This trend has continued into 2024, with substantial investments flowing into education technology startups focused on skill development. For instance, Roblox, an online gaming platform that teaches programming, secured USD 150 million in investment.

Some of the Major Key Players Studied in this Report are:

  • Apple Inc
  • Blackboard
  • Cisco Systems
  • D2L Corporation
  • IBM Corporation
  • Lenovo Group Limited
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • SMART Technologies
  • Other Players

Recent Trends

In 2024, education is poised to be revolutionized by VR and AR technologies. Students could be transported to virtual environments by VR, allowing them to explore historical sites, conduct virtual experiments, or experience diverse cultures firsthand. AR could be used to overlay digital information onto the real world, enhancing classroom learning and enabling interactive experiences.

The traditional classroom setting is likely to evolve in 2024, with blended learning models. Blended learning combines online and offline learning activities, allowing students to benefit from the flexibility of online learning while maintaining the social interaction and personalized guidance of in-person classes.

Learning through games is not a new concept, but advancements in gamification will make it a powerful tool in 2024.

Recent Innovations in EdTech and Smart Classrooms Market

  • In March 5, 2024: Meta formerly Facebook announces the expansion of its Oculus for Education program. This program provides VR headsets and educational content to schools at a subsidized cost, aiming to promote immersive learning experiences in classrooms.
  • In April 27, 2024, Duolingo Partner with Demos Company, to create a gamified math learning experience. Which aiming to make learning math more fun and effective for students.

Market Segmentation Analysis

The K-12 segment will be the second-largest contributor to the growth of the EdTech market, driven by technology adoption among younger generations. EdTech solutions, with features like animation and audio, are offered to benefit K-12 institutions, creating interactive learning experiences. Developed nations like the US and France have already seen large-scale EdTech implementation. Meanwhile, emerging economies like India and China are being experimented with for mobile learning initiatives. Governments are even promoting low-cost devices to facilitate this shift. A study revealed that over 62% of children aged 2-7 have access to computers at home, highlighting the growing presence of technology in their lives. This can be leveraged by kindergarten classrooms by integrating technology that caters to their learning styles and fosters active participation.

Market Segmentation and Sub-Segmentation Included Are:

On The Basis of Hardware

  • Interactive Displays
  • Interactive Projectors

On The Basis of End-user

  • K-12
  • Higher Education

On The Basis of Deployment type

  • Cloud
  • On-Premises

On The Basis of Education System

  • Learning Management System
  • Student Information and Administration System
  • Student Collaboration System
  • Student Response System
  • Learning and Gamification
  • Test Preparation
  • Classroom Management System
  • Document Management System
  • Talent Management System

Regional Outlook 

North America is expected to dominate the global revenue market in 2022 due to the growing trend and popularity of digital technology in the online education and training sector. also, the increasing availability of online courses and programs offered by schools, colleges and educational institutions is stimulating the expansion of the EdTech and smart classroom market in the region.

The APAC is projected to have the highest CAGR of the global market in 2022. Demand for EdTech and smart classrooms grew in the region during the research period as EdTech solutions were widely adopted in recognition of the power of advanced learning methods and expand the use of online learning materials in the region. Also, the government-led efforts and public-private partnerships are expected to encourage the region’sEdTech and smart classroom growth in both rural and urban areas.

Key Takeaways from the EdTech and Smart Classrooms Market Study

  • Find out how this market is expected to grow in the coming years.
  • Cloud-based solutions, mobile integration, and AI-powered features are revolutionizing the travel and expense management experience.
  • This report Understand the geographical distribution of the market, identifying regions with the highest market share and those with the fastest growth potential.
  • the market’s segmentation is based on factors like end-user (K-12, higher education), hardware components (interactive displays, projectors), and deployment models (cloud-based, on-premise).
  • This report Explore the key factors that drive the market growth, such as the rising demand for efficient learning solutions and the increasing adoption of technology in educational settings.

Table of Contents

  1. Introduction
  2. Industry Flowchart
  3. Research Methodology
  4. Market Dynamics
  5. Impact Analysis
    • Impact of Ukraine-Russia war
    • Impact of Economic Slowdown on Major Economies
  6. Value Chain Analysis
  7. Porter’s 5 Forces Model
  8. PEST Analysis
  9. EdTech and Smart Classrooms Market Segmentation, by Hardware
  10. EdTech and Smart Classrooms Market Segmentation, by End-user
  11. EdTech and Smart Classrooms Market Segmentation, by Deployment type
  12. EdTech and Smart Classrooms Market Segmentation, by Education System
  13. Regional Analysis
  14. Company Profile
  15. Competitive Landscape
  16. USE Cases and Best Practices
  17. Conclusion

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