EdTech and Smart Classroom Market worth $247.74 billion and with CAGR of 15.21% By 2027

Global EdTech and Smart Classroom Market is valued approximately at USD 91.94 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 15.21% over the forecast period 2020-2027. EdTech and Smart Classroom includes the adoption of advanced teaching methods that include white boards, projectors, and smart notebooks etc., for better understanding of students and also appreciates student to learn new technology. EdTech and Smart Classroom is a combination of learning modes, educational products, and applications. The growing technological advancements in educational sector as well as replacement of traditional classroom teaching methods with EdTech and Smart Classroom has driven the demand for this market. The rising government investment in education sector, growing adoption of eLearning solutions and rising use of Artificial Intelligence and Machine learning in smart learning, encourages the growth of EdTech and Smart Classroom Market.

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For instance: as per Union Budget 2020-21, Indian government invested around USD 8.56 billion (Rs 59,845 crore) for Department of School Education and Literacy. Thus, government initiatives and investment will further drive the demand for EdTech and Smart Classrooms. Furthermore, the introduction of products and other strategic alliances by market key players will create a lucrative demand for this market. For instance: on 05th May 2020, International Business Machines Corporation (IBM), launched Open P-TECH digital platform, content in English, Portuguese and Spanish. It is a free digital education platform, offers training in technologies such as AI, cloud computing and cybersecurity, along with professional skills, like design thinking etc., specially designed for workplace learning and digital skills. However, increasing cyberattacks on educational institutes and enterprises to raise data security and privacy concerns is the major factor restraining the growth of global EdTech and Smart Classroom market during the forecast period.

The regional analysis of global EdTech and Smart Classroom Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of economically and technologically advanced countries such as the US and Canada, and emerging technologies. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

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By Hardware:
Interactive Displays
Interactive Projectors

Deployment Type:
Cloud
On-Premises

By Education System:
Learning Management System
Student Information System
Classroom Assessment System
Classroom Collaboration System
Classroom Management System
Document Management System
Student Response System
Talent Management System

By Enabling Technology:
Gamification
Analytics
ERP
Security
Advanced Technology

By End User:
Kindergarten
K-12
Higher Education

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This release was published on openPR.