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The global edtech and smart classroom market size is estimated to reach USD 302.46 billion in 2028 owing to the rising adoption of online platforms by masses due to the lockdown restrictions inflicted by governments to curb COVID-19 spread, observes Fortune Business Insights™, in its report, titled, “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, and Others) By Educational Tools (Admission Automation Tools, Administration Tools, Learning Management Tools, Alumni Management Tools, Placement Management Tools, Library Management Tools, and Others), By Technology (Gamification, Analytics, Enterprise Resource Planning (ERP), Advanced Technology (AI, AR, VR, Robotics, and Blockchain, and Others), By End-User (Higher Education, K-12, and Kindergarten), and Regional Forecast, 2021-2028”. As per the report, the market size was USD 85.29 billion in 2020 and is anticipated to exhibit a CAGR of 17.4% in the 2021-2028 period.
COVID-19 to Positively Impact the Global Market Backed by Government’s Social Distancing Policy
The COVID-19 pandemic bestowed upon the world has adversely affected several industries financially. The governments in majorly all regions announced lockdowns to control the further spread of the virus. The key players along with the government ensured safe ways for students to continue their studies by leveraging online learning platforms. However, edtech and smart classroom solution providers, other telecommunication companies, and the government have crawled to guarantee the participation of low-income students in online classes. For example, Telkomsel, an Indonesian wireless network provider delivered around 500,000 devices to students and made an offer of free 30GB per month for users of a K-12 app, Ruangguru in March 2020.
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Microsoft Collaborates with Taiwan Government to Broaden its Reach of Edtech and Smart Classroom Solutions
Industry wide factory closures and travel limitations seems to have created logistic-based challenges globally, but the students and teachers are determined to learn and teach respectively, in more than 4,000 schools in Taiwan. Taking this into consideration, Microsoft has signed a partnership with the Ministry of Education in Taiwan, which enables free access to Office 365 along with Microsoft Teams to nearly 2.5 million students and 200,000 teachers from schools and universities with national IDs.
This national transformation is an outstanding example of how a public-private partnership significantly drives the government’s encouragement for digitalized education and smart learning campuses in Taiwan. Office 365 and Microsoft Teams have introduced unaccountable teaching resources to the users. Office 365 has empowered users surpassing 20 apps in the cloud, whereas, Microsoft Teams impelled two sided communications, interaction lectures, and most essentially, integration of infinite applications on one sole platform.
Declining Costs of Internet Data & Online Learning Platforms to Promote Market Growth
Rising mobile penetration and cost-effective online learning material is considered to stimulate the growth of the education industry. The internet penetration and smartphone users is at its peak in the U.S, Commonwealth States and regions such as Europe. Nevertheless, substantial growth is estimated from developing markets, with mobile being the crucial device for perceiving knowledge. This factor is expected to boost the edtech and smart classroom market growth in the forthcoming years.
List of Key Players Covered in this Market Report:
Further Report Findings
Table of Segmentation
Value (USD Billion)
Instructional Aids; Smart classroom Hardware; Educational Tools; Technology; End-user; and Geography
By Instructional Aids
By Smart Classroom Hardware
By Educational Tools