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.
Edtech and Smart Classroom Market Analysis
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
Edtech and Smart Classroom Market Overview
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.
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Edtech and Smart Classroom Market: Strategic Insights
Market Size Value in US$ 75.24 Billion in 2019 Market Size Value by US$ 234.41 Billion by 2027 Growth rate CAGR of 15.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Edtech and Smart Classroom Market: Strategic Insights
| Market Size Value in | US$ 75.24 Billion in 2019 |
| Market Size Value by | US$ 234.41 Billion by 2027 |
| Growth rate | CAGR of 15.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Edtech and Smart Classroom Market Drivers and Opportunities
Rise in Mobile Penetration to Favor Market Growth
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.
Edtech and Smart Classroom Market Report Segmentation Analysis
Key segments that contributed to the derivation of the edtech and smart classroom market analysis are the component and end-user
- Based on the components, the edtech and smart classroom market is segmented into hardware, software, and services.
- Based on end users, the edtech and smart classroom market is segmented into up to K-12 and higher education.
Edtech and Smart Classroom Market Share Analysis by Geography
- The edtech and smart classroom market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific is anticipated to grow with the highest CAGR over the forecast period.
- China has made substantial investments in ICT infrastructure and educational resources over the last few years, which has advanced the integration of technology in education. In China, online learning has gained popularity in recent years. Users of eLearning are becoming more and more prevalent. For example, the area offers a number of eLearning systems, including online learning, VIPKid, and an education platform that offers Chinese kids between the ages of 4 and 15 one-on-one English lessons. Chinese people. Since the 1990s, when eLearning first emerged, the government has placed a great deal of emphasis on its development because of the execution of many policies. As a result, the area has accomplished a great deal in the eLearning field, which is propelling the growth of the edtech and smart classroom market.
Edtech and Smart Classroom Market Report Scope
Edtech and Smart Classroom Market News and Recent Developments
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:
- In July 2022, Blackboard Inc. announced the release of the Reporting Tier for the Blackboard Data platform, which will provide institutions with reports geared to provide perceptions on the use of learning tools within the Blackboard SaaS EdTech ecosystem.
(Source: Blackboard Inc, Press Release)
- In September 2022, Cisco launched Webex Classrooms, which securely connect teachers, students, and parents in a single area, regardless of their physical location.
(Source: Cisco, Press Release)
Edtech and Smart Classroom Market Report Coverage and Deliverables
The "Edtech and Smart Classroom Market Size and Forecast (2021-2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Deployment Type , and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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