The edtech and smart classroom market size is expected to grow from US$ 139.42 billion in 2023 to US$ 562.65 billion by 2031; it is estimated to grow at a CAGR of 19.1% from 2023 to 2031. Growing technological use in the education industry is likely to remain key edtech and smart classroom market trends.
IT systems, especially cloud-based platforms, are more important than ever because of the growing emphasis on digital lesson planning and remote learning. Potentially, the cloud is a technological innovation that encourages transformation for its users. Through the use of distant servers, networking, database systems, analytics, storage systems, software, and other digital resources, cloud computing is an information technology paradigm that provides computing services via the Internet. For higher education, cloud computing offers substantial advantages, especially for K -12 university students. Educators may effortlessly conduct virtual lessons and include their pupils in diverse online assignments and programs by leveraging cloud computing in the classroom. Thus, the growing use of virtual lessons is propelling the growth of the edtech and smart classroom market
The cloud is the most extensively used technology due to its adaptable storage and usage methods, strong security features, and simplicity of use. Educators can take advantage of the cloud for low-cost online learning, file sharing, and storing massive files in a variety of formats. Because of this, almost all EdTech businesses and educational organizations favor using the cloud. Learning through gamification is another inventive fad. Regarding educational technology, Conventional educational methods are laborious and need intense focus gamification; however, they turn learning into an enjoyable endeavor. Through gamification, students can compete with a timer or with each other, view their progress in real-time on leaderboards, and receive prizes for high scores. For today's users, this has increased the excitement and enjoyment of learning. Many significant firms have used gamification as a marketing trend in response to this edtech and smart classroom trend.
Mobile penetration is highest among those with lower incomes. AT&T has offered US $100 million to give mobile connectivity and gadgets to 50,000 students in low-income and rural locations, according to Saperstein. India, the world's second most populous country, with 18 billion people (World Bank), may overtake China to become the most populated country by 2024 (UN Report).
In addition, India has one of the youngest populations, with nearly 30% of India's population aged between 18 to 34 and 260 million school children. As of 2022, stated by the Project Tomorrow report, 33% of US high school students and 31% of middle and elementary school students have school-issued mobile devices. As a result of the widespread use of mobile devices, gamification, virtual classrooms, and e-learning are on the rise, which is driving the growth of the edtech and smart classroom market.
Key segments that contributed to the derivation of the edtech and smart classroom market analysis are the component and end-user
The regional trends and factors influencing the Edtech and Smart Classroom Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Edtech and Smart Classroom Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 139.42 billion |
| Market Size by 2031 | US$ 562.65 billion |
| Global CAGR (2023 - 2031) | 19.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Edtech and Smart Classroom Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Edtech and Smart Classroom Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The peer to the peer insurance market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the edtech and smart classroom market:
(Source: Blackboard Inc, Press Release)
(Source: Cisco, Press Release)
The "Edtech and Smart Classroom Market Size and Forecast (2021-2031)" provides a detailed analysis of the market covering the areas mentioned below:
North America is expected to hold the highest market share in the edtech and smart classroom market.
Growing technological use in the education industry is anticipated to play a significant role in the global edtech and smart classroom market in the coming years.
The key players holding majority shares in the global edtech and smart classroom market are Blackboard Inc., Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, and Oracle Corporation.
The rise in mobile penetration and increasing investment in edtech and e-learning are the major factors driving the edtech and smart classroom market.
The global edtech and smart classroom market was estimated to be US$ 139.42 billion in 2023 and is expected to grow at a CAGR of 19.1% during the forecast period 2024 - 2031.