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The global edtech and smart classroom market size is estimated to rise from USD 101.64 billion in 2022 to USD 319.65 billion by 2029. With the trend for digitization gaining traction, this type of classroom will continue to be sought-after across developing and developed economies. For instance, HolonIQ claims that around 3% of total global education expenditure is earmarked for digital infrastructure. Moreover, the trend for distance learning will encourage leading companies to invest in the portfolio.
According to the latest research report by Fortune Business Insights™ titled, “EdTech and Smart Classroom Market Size, Share & COVID-19 Impact Analysis, By Instructional Aid (Smart Classroom and Mobile Learning), By Smart Classroom Hardware (Interactive Projectors, Interactive Whiteboards, and Others) By Educational Tool (Admission Automation Tools, Administration Tools, Learning Management Tools, Alumni Management Tools, Placement Management Tools, Library Management Tools, and Others), By End-user (Higher Education, K-12, and Kindergarten), and Regional Forecast, 2022-2029,” the market stood at USD 88.82 billion in 2021. It is expected to observe a 17.8% CAGR during the forecast period.
Pandemic-led Trend for Mobile Learning Triggers Investment
While the aftermath of the COVID-19 pandemic became pronounced in most industries, the education sector exhibited resilience. The rising footprint of online learning applications expedited innovations and technological advancements. The prices of education technology gadgets were reduced. Prominently, robust government policies and portfolio expansion across untapped areas augured well for the edtech and smart classroom business outlook. To illustrate, in 2020, a Singapore-based telecommunication company Starhub introduced free broadband subscriptions to low-income students, while the Ministry of Education distributed 3,300 pieces of equipment to low-income students.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/edtech-and-smart-classroom-market-104662
Huawei Rolled Out Smart Classroom Solution to Boost Education Efficacy
Major companies are expected to join hands with governments, higher education universities, and local schools to boost these classroom solutions. Besides, leading players could expand their global footprint through the introduction of smart solutions. For instance, in March 2021, Huawei Technologies Co., Ltd. announced the launch of a smart classroom solution based on an education cloud platform and the HUAWEI IdeaHub Board. This smart solution would be used for remote teaching, online learning or live streaming. Meanwhile, in July 2020, IBM announced a collaboration with the Central Board of Secondary Education in India to offer AI in the new curriculum. Prevailing trends could underpin edtech and smart classroom market share in the ensuing period.
Bullish Investments in Education Sector to Drive Industry Growth
Industry participants expect an infusion of funds into smart classrooms and mobile technology. To illustrate, in February 2020, Roblox reportedly raised USD 150 million to expand its footprint. Besides, the reduction of the costs of online learning materials and internet data boded well for the industry size expansion. Stakeholders are likely to explore opportunities in digital platforms following the trend of distance learning. With a surge in demand for online educational platforms, the market growth will observe a noticeable gain. A shortage of technical skills and high infrastructure costs could mar the growth prospect.
Industry Players Emphasize Mergers & Acquisitions to Bolster Portfolio
Stakeholders are likely to prioritize product launches, technological advancements, R&D activities, and mergers & acquisitions. Moreover, leading companies are likely to invest in innovations to foster their geographical footprint in this market.
Key Industry Development
List of the Companies Profiled in the Report
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD billion) |
Segmentation | By Instructional Aid, Smart Classroom Hardware, Educational Tool, End-user, and Geography |
By Instructional Aid |
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By Smart Classroom Hardware |
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By Educational Tool |
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By End-user |
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By Region |
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