The global education technology (ed tech) and smart classrooms market size is likely to attain over USD 302.46 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 17.4% during the forecast years 2021-2028. The education technology (ed tech) and smart classrooms market is driven by growing use of AI and ML in smart learning which acts as a driver as the demand for education technology (ed tech) and smart classrooms is increasing.
The present and future education technology (ed tech) and smart classrooms market progress are summarized to conclude the attractiveness of the entire market. Also, the prime factor that affect the market is the ease of use and teaching offered by the Ed Tech and smart classroom technology is the chief factor fueling its demand. Furthermore, the market is also gaining from the rising technological awareness and expanding internet penetration across the globe is the key factor driving the market growth for the education technology (ed tech) and smart classrooms market.
Also, the launching of new online learning models by reputed educational institutions and universities across globe will proliferate expansion of EdTech and smart classroom industry is another factor driving the market growth. Furthermore, the strict government norms pertaining to maintaining of social distancing will prompt expansion of EdTech and Smart Classroom market during assessment timeline which is likely to provide lucrative development opportunities for the education technology (ed tech) and smart classrooms market in the forthcoming years.
The report also emphasizes several distinctiveness of the global education technology (ed tech) and smart classrooms industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the education technology (ed tech) and smart classrooms industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The education technology (ed tech) and smart classrooms market has tough competition among the new emerging and pre-established market vendors. Besides, the education technology (ed tech) and smart classrooms industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the deployment type, the edtech and smart classroom market is segmented into on-premises, cloud, and hybrid; in 2019, the cloud segment led the market.At present, schools, colleges, and universities have their private cloud for their software such as the learning management systems, classroom management systems, and student information systems. The use of cloud-based software, which can be provided with centralized control, reduces the deployment and maintenance costs for the education sector, and helps them achieve scalability and high performance.
North America region is expected to grow at fastest rate over the forecast period. The increase of adoption in this area is due to the presence of key market players. Furthermore, Asia-Pacific is increasing its share due to the rising penetration of mobile devices and adoption of online education.
The major players of the global education technology (ed tech) and smart classrooms market are Apple Inc., Blackboard Inc., Cisco Systems, Inc., D2L Corporation, IBM Corporation, Lenovo Group Limited, Microsoft Corporation, Oracle Corporation, SAP SE, SMART Technologies, Educomp Solutions Ltd., Scholastic Corporation, Smart Technologies Inc, NIIT Ltd. and Saba Software Inc. Renowned companies are offering new and modern education technology (ed tech) and smart classrooms software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Education Technology (ed tech) and Smart Classrooms Market
Component Overview, 2021-2028 (USD Million)
Deployment Type Overview, 2021-2028 (USD Million)
End Use Overview, 2021-2028 (USD Million)
- Upto K-12
- Higher Education
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Middle East and Africa
- South Africa
- Saudi Arab
- South America