EdTech and Smart Classroom Market Size, Share & COVID-19 Impact Analysis, By Instructional Aids (Smart Classroom, and Mobile Learning), By Smart Classroom Hardware (Interactive Projectors, Interactive whiteboards) By Educational Tools (Admission Automation Tools, Administration Tools, Learning Management Tools), By Technology (Gamification, Analytics, Enterprise Resource Planning (ERP)), By End-User, and Regional Forecast, 2021-2028

The global edtech and smart classroom market size was USD 85.29 billion in 2020. The global COVID-19 impact has been unprecedented and staggering, with edtech and smart classrooms witnessing a moderate impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 14.7% in 2020 as compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 98.19 billion in 2021 to USD 302.46 billion in 2028 at a CAGR of 17.4% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The education sector has immense opportunity for growth today and is a fast-evolving industry as institutes and learners have realized the value of a holistic learning environment and are continuously investing in it. As per the education intelligence provider, HolonIQ, around 3% of total global education expenditure is allocated to digital infrastructure. It also states that digital transformation's significant potential is expected to reach USD 10 trillion by 2030, up from USD 6 trillion in 2018. This is likely to support the adoption of edtech and smart classroom solutions in the upcoming years.

COVID Impact

Mobile Learning to Gain Traction Amid COVID-19

The edtech sector has gained traction amid pandemic as innovators and governments have invested billions of dollars into the education sector. Online learning apps are gaining higher demand, and now there are millions of users across the world. Other forms of edtech, such as e-textbooks, curriculum management software, administration, and communications platforms, have become more effective. Also, the cost associated with EdTech devices and internet data required to use them has dropped.

Furthermore, edtech and smart classroom solution providers, other telecom companies, and the government have scrambled to ensure low-income students can participate in online classes. For instance,

• In 2020 Telkomsel, a wireless network provider in Indonesia delivered 500,000 devices to students and offered 30GB per month free for users of Ruangguru, a K-12 learning app.


• In 2020 Starhub, a telecom operator operating in Singapore offered free broadband subscriptions to low-income students, and the Ministry of Education distributed around 3,300 devices to low-income students.

LATEST TRENDS

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Social Distancing Shifts Focus Towards Distance Learning Programs

Distance learning became one of the prominent trends in the edtech and smart classroom industry due to educational institutes' closures amid the COVID-19 crisis. The pandemic has radically changed the way contents are taught and learned. Due to social distancing norms, learners are shifting towards digital learning concepts via digital platforms. Even though some educational institutes are reopening, the trend of distance learning may continue until 2021. This has led to increasing demand for online educational platforms. Distance learning can be a slide-based online activity or online course that helps learners learn necessary skills.

DRIVING FACTORS

Growing Investments in Education Sector to Spur Market Opportunities

Education technology and smart classroom market have seen a substantial shift in recent years backed by mobile technology's high uptake and increased education spending. For instance, according to HolonIQ, in 2018, China accounted for 63% of global EdTech investment. Similarly, EdTech startups for skill development have been receiving massive funding. For example, in February 2020, Roblox, an online gaming platform that delivers programming lessons raised USD 150 million in funding. Such significant investments and budgets are likely to drive the market growth during the forecast period.

Reduced Costs of Internet Data and Online Learning Material to Accelerate the Market Growth

Increasing mobile penetration and low cost of e-learning material is considered to be a game-changer in driving the education industry's growth. Europe, the United States, and the Commonwealth States lead in mobile and internet penetration. However, significant growth is expected from emerging markets, with mobile as an essential device for acquiring knowledge. Therefore, this market is anticipated to witness booming growth in the near future.

RESTRAINING FACTORS

High Cost of Infrastructure and Lack of Technical Skills to Impede the EdTech and Smart Classroom Market Growth

The infrastructure required in smart classrooms, such as smart gadgets like computers, projectors, tablets, various advanced software, etc., are expensive. The hardware and software requirements keep on changing with the evolving technology. Besides, to keep track of the advancement and changes in software, educational institutes may need to hire a tech professional, which is an additional cost that institutes have to expend. Such additional costs are likely to hinder the adoption of smart classroom solutions.

SEGMENTATION

By Instructional Aids Analysis

Mobile Learning Segment to Gain Traction Backed by Implementation of Online Learning Programs

Based on the instructional aids, the market is classified into smart classroom and mobile learning. The smart classroom segment is expected to hold a significant market share. However, amid the COVID-19 pandemic continued shutdown of schools, universities, and other educational institutions, the global smart classroom market is expected to show a downturn in revenue. 

The mobile learning segment is expected to gain traction in the upcoming years. As part of security measures, governments across several countries have implemented mandatory online learning programs, examinations, and distance learning programs for students to mitigate the impact of the COVID-19 crisis on the education system. These factors are likely to surge the adoption of e-learning services and the increasing adoption of such tools is anticipated to create lucrative opportunities for market players.

By Smart Classroom Hardware Analysis

Interactive Whiteboards Segment to Be Driven by Ongoing Technological Advancements

This market by hardware is segmented into interactive projectors, interactive whiteboards, and others. The other segment includes interactive displays, tables, and audio systems. Interactive projectors are the most preferred solutions for classrooms & collaborative office meetings. Interactive whiteboards, also called smart boards, are expected to grow at a significant CAGR over the forecast period. The segment's growth is mainly attributed to the rising demand for e-learning and interactive learning among colleges and schools.

By Educational Tools Analysis

Learning Management Tools to Grow Immensely Stoked by Integration with AI

By educational tools, the market is divided into admission automation tools, administration tools, learning management tools, alumni management tools, placement management tools, library management tools, and others. The learning management tools segment is expected to hold a major market share attributed to their integration with AI-enabled capabilities. The admission automation software segment is also set to exhibit high growth due to increasing student enrollment across the globe.

The administration software solution constitutes customer relationship management (CRM) and enterprise resource planning software (ERP). Administration software solutions are primarily used in premier educational institutions to manage their regular operations effectively. The overall educational tool segment is expected to grow, including library management tools, alumni management tools, and placement management that provide integrated features.

By Technology Analysis

Enterprise Resource Planning (ERP) to be the Most Prominent Technology

By technology, the market is classified into gamification, analytics, enterprise resource planning (ERP), advanced technology (AI, AR, VR, robotics, and Blockchain), and others. Technologies such as artificial intelligence, augmented reality, and virtual reality are expected to drive the next-generation edtech and smart classroom solutions to equip students for a better future. Whereas enterprise resource planning is expected to hold a major market share.

By End-user Analysis

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High Investments and Funding to Contribute to Growth of Higher Education Segment

The edtech and smart classroom market is divided into higher education, K-12, and kindergarten by end-user. The higher education segment is expected to hold the major share attributable to increased investments and funding in Edtech technology. K-12 is a potential customer of learning management tools. The outbreak of the COVID-19 pandemic has also surged the adoption of Edtech tools across the K-12 segment.

REGIONAL INSIGHTS

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Geographically, the market is fragmented into five major regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries.

The North American education technology and smart classroom market accounts for the highest of the industry's revenue and is quickly expanding due to the adoption of technologically enhanced solutions/services by universities and schools to offer meaningful training to their students. The number of mobile users in North America is projected to exceed 328 million by 2025, according to the GSMA intelligence. Furthermore, the virtual reality industry in the area would benefit from increased product adoption.

Asia Pacific is projected to exhibit a fast growth rate during the forecast period. Government-led initiatives such as government-funded literacy growth projects in rural areas are expected to fuel the demand for smart education and to learn across countries such as India, Japan, and Australia, among others. For example,

• The Ministry of Human Resource Development's National Digital Library of India is an online library that offers academic content organized by subject area for various levels of smart education and learning. In addition, Japan's Ministry of Education, Culture, Sports, Science, and Technology (MEXT) offers a forum for e-learning divided by age and educational level.

Europe edtech and smart classroom market is expected to grow at an exponential CAGR during the forecast period. The regional market's growth is mainly attributed to the wide adoption of e-learning solutions among universities and schools.

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The Middle East and Africa is estimated to show remarkable growth in the upcoming years. The region is estimated to pose a strong hold on this market. South America is expected to show moderate growth during the forecast period. Brazil’s private education sector has exhibited significant growth over recent years.

KEY INDUSTRY PLAYERS

New Market Expansion Through Partnership and Collaboration with Educational Institutes    

The key players of the market, such as Blackboard Inc., SMART Technologies, Amazon Inc., Cisco Systems, Inc., Google Inc., are strategically collaborating with educational institutes, higher education universities, government, and local schools across the globe to provide enhanced edtech and smart classroom solutions. Through the partnership, the companies are expanding their global reach and business opportunities. For instance,

July 2020 – IBM announced a partnership with the Central Board of Secondary Education in India to provide artificial intelligence (AI) in the new curriculum. This is available and implemented in 13 States across 200 schools.

LIST OF KEY COMPANIES PROFILED:

• SAP SE (Walldorf, Germany)


• Apple Inc. (California, United States)


• IBM Corporation (New York, United States)


• Alphabet Inc. (California, United States)


• Cisco Systems Inc. (California, United States)


• NetDimensions (Holdings) Limited (Hong Kong)


• Amazon.com Inc. (Washington, United States)


• Microsoft Corporation (Washington, United States)


• SMART Technologies ULC (Calgary, Canada)


•  Dell Inc. (Texas, United States)


• Cornerstone On-demand Inc. (California, United States)


• 2U, Inc. (Maryland, United States)


• Fujitsu Limited (Tokyo, Japan)


• Anthology Inc. (Boca Raton, Florida)


• Ellucian Company L.P. (Virginia, United States)


• Discovery, Inc. (New York, United States)


• Blackboard Inc. (Washington, D.C., United States)


• Jenzabar, Inc. (Massachusetts, United States)

KEY INDUSTRY DEVELOPMENTS:

• February 2020 – Blackboard Inc. announced the selection of its EdTech software and solutions for Navajo Technical University (NTU). Through the collaboration, the company offers its cloud-based deployment of learning management system (LMS), virtual classroom solution, course content accessibility solution, and blackboard collaborates, blackboard learns blackboard ally, IT help desk services.


• December 2020 –  2U Inc. announced a partnership with the global business school Institute for Management Development (IMD) to expand students' online learning programs. Under the 2U brand, the college aims to cover topics such as digital supply chain operations, cybersecurity for business leaders, and digital strategy.

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The global education technology and smart classroom market research report offer qualitative and quantitative insights into the product and an exhaustive analysis of market size & growth rate for all possible market segments.  Along with this, the report comprises a detailed analysis of market dynamics, emerging trends, and the competitive landscape. The main insights included in the report are the trends in the adoption of individual segments, recent developments in the industry, such as mergers & acquisitions, integrated SWOT analysis of key players, alliances, Porter's five-force analysis, business strategies adopted by major players in the market, key industry trends, macro, and micro-economic indicators.

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