EdTech and Smart Classroom Market Trends, Future Overview, Top Growing Companies (2021-2026) : Apple Inc., IBM Corporation, Alphabet Inc., Cisco Systems Inc., Learning Technologies, Microsoft Corporation, SMART Technologies ULC

World over, the value of the EdTech and smart classrooms market is anticipated to reach US$189 Bn by 2026, escalating from US$72.1 Bn in 2018. In the forecasted period of 2021- 2026, the market for EdTech and smart classrooms is expected to grow at a robust CAGR of 14.5%.

With rapid changes in learning patterns and industrial needs, education systems across the world face a dire need for upgrades. This calls for a system that makes education easy to access, enhances the involvement of students, and provides scope for a better understanding of the subject. In addition to this, these smart classrooms are highly tech-driven, making use of cloud, robotics, and blockchain technologies.

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EdTech and smart classrooms are IT solutions that serve the growing demand for online learning and teaching solutions. The emergence of COVID-19 has completely transformed the educational scenario and redirected education to online learning. Consequently, this has fueled the demand for EdTech and smart classrooms across the market.

Favorable Investments and Greater Internet Accessibility Offer Lucrative Growth Opportunities

Recently, the educational industry has undergone seismic shifts as several institutes have begun to opt for online education. Additionally, the COVID- 19 pandemic crisis has accelerated these shifts. The smart classroom market is fragmented into classroom learning and mobile learning. As the government mandates distance learning programs, online learning, examinations, and assessments, the educational industry has witnessed major overhauls.

Moreover, the education sector is booming with investments alongside greater internet access due to reduced costs of internet plans. Over and above, widespread penetration of mobile phones for online education forms a solid turf for the EdTech and smart classrooms market.
Extensive Implementation of Online Education to Boost EdTech and Smart Classrooms Sales in North America

North America is one of the largest EdTech and smart classroom markets and is projected to grow at a whopping CAGR of 13.4% during the forecast period. The market is replete with

lucrative opportunities and growth nodes in the region, as universities and schools in the
U.S. and Canada incorporate leading-edge technologies for education. In order to provide quality education to the students, virtual reality adoption in North America will propel growth across the market.

Besides, the Asia Pacific region is also expected to garner formidable growth in the times to follow. The reason for this expansion is envisaged to be the huge education budgets and bolstering investments in the EdTech businesses. Smart classroom businesses are also flourishing in the United Kingdom, Italy, Germany, Norway, Sweden, and France as they are open to the adoption of new technologies across the domains. This shall give an impetus to the growth of the market in Europe.

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The leading competitors in the EdTech and smart classrooms market across the globe are Apple Inc., Alphabet Inc., Cisco Systems Inc., IBM Corporation, Amazon.com Inc., and Learning Technologies Gr. These players face cut-throat competition in terms of interoperability and product enhancements. For instance, IBM launched Open P-TECH which provides students and educators access to digital learning & Blackboard introduced a Blackboard Unite for K-12.

Further, the emergence of local players in the market is also posing some constraints; however, with consistent upgrades and innovations, top-notch companies remain unaffected by such adversities.

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