Global Education Technology (Ed Tech) and Smart Classrooms Market Report 2022: Market to Reach $207.3 Billion by 2026

Dublin, 02 Feb. 2022 (GLOBE NEWSWIRE) — The “Educational Technologies (Ed Tech) and Smart Classrooms – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

Global Education Technology (Ed Tech) and Smart Classroom Market to Reach US$207.3 Billion by 2026

Amid the COVID-19 crisis, the global education technology (Ed Tech) and smart classrooms market, estimated at US$84 billion in 2020, is expected to reach a revised size of US$207.3 billion US dollars by 2026, growing at a CAGR of 16.3% over the analysis period.

Education integrated with information technology offers bright prospects to meet the different requirements of students and provide new opportunities for learners, regardless of geographical boundaries.

The growth of the Ed Tech and smart classrooms market is driven by several factors, including growing demand for e-learning solutions, growing use of connected devices in educational institutions, increasing implementation of government programs in several emerging countries to promote education, reduction of development costs and increased ease of use, increasing demand for digital education, increasing need to keep the education system functioning amid the pandemic and growing adoption of machine learning (ML) and artificial intelligence (AI) in smart learning.

Ongoing efforts by major EdTech players to provide students with online textbooks are reducing classroom costs and solving resource shortages. The curriculum is expected to be greatly influenced by the power of data and related information, which is sure to influence EdTech.

The data and associated analytics should provide educators with insights into student behavior and their interaction with content. In the coming years, technologies such as Virtual Reality (VR) and Augmented Reality (AR) are expected to be further implemented in classrooms as learning tools.

There are currently various AR experiences and apps available in the market to help students learn K-12 lessons on a wide range of subjects, from history to science and math. After steadily growing in recent years, the EdTech market has exploded amid the COVID-19 pandemic, allowing venture capital funding to show an impressive spike.

Hardware, one of the segments analyzed in the report, is expected to grow at a CAGR of 14.7% to reach US$92.7 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and induced economic crisis, Content segment growth is readjusted to a revised CAGR of 18.7% for the next 7-year period. This segment currently accounts for a 37% share of the global Ed Tech and smart classroom market.

Hardware improvements and the ubiquity of smartphones are key factors that are expected to drive the adoption of virtual reality in online learning on a larger scale.

The US market is estimated at $29.4 billion in 2021, while China is expected to reach $43.5 billion by 2026

North America represents the largest regional market for Ed Tech and smart classrooms, due to the strong presence of smart device manufacturers, Ed Tech companies and cloud service providers, coupled with penetration increased use of advanced technologies in schools and educational institutions in the region.

The Asia-Pacific region is benefiting from the growing interest of educational institutions in digital solutions to improve operational efficiency. Countries such as China, Indonesia, India, and Malaysia report high penetration of student information systems in primary and secondary education to help school management and provide relevant information to students.

Software segment to reach $39.8 billion by 2026

EdTech software allows teachers to host pre-recorded or live lessons, allowing students to access these resources digitally from anywhere. EdTech apps play an important role in enabling educators to monitor student engagement and attention through remote learning.

Many higher education institutions are also broadcasting their lectures live to multiple classrooms and adopting learning management system (LMS) software solutions for the creation, distribution and management of educational content.

Various players in the education technology market are offering better systems, software, and hardware to enhance synchronous or asynchronous learning capabilities in the classroom or at home. In the global software segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 14.2% for this segment.

These regional markets representing a combined market size of US$14.1 billion in 2020 will reach a projected size of US$36.7 billion by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$4.9 billion by 2026.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Impact of Covid-19 and a looming global recession

  • 2020: A year of disruption and transformation

  • Changing the face of education amid COVID-19

  • COVID-19 brings K-12 virtual schooling to the fore

  • How the COVID-19 sabbatical is paving the way for a solid foundation of digital learning in the education space

  • The pandemic is accelerating the growth of the EdTech sector

  • Virtual and flexible learning: EdTech bright spots for the future of education in the post-pandemic world

  • EdTech: an introduction

  • Looming Trends to Watch in the EdTech Space

  • Smart classrooms: accelerating the education sector towards a smarter future

  • Challenges and issues

  • Regional Market Analysis

  • Emerging Economies Drive Market Growth

  • Recent market activity

  • Global brands

2. FOCUS ON CERTAIN PLAYERS (Total 326 featured)

  • Apple Inc.

  • Blackboard, Inc.

  • Cisco Systems, Inc.

  • DellEMC

  • Discovery Communications, Inc.

  • DynaVox Mayer-Johnson

  • Fujitsu Ltd.

  • Hewlett Packard Enterprise Development LP (HPE)

  • IBM Corporation

  • Jenzabar, Inc.

  • Lenovo Group Ltd.

  • Microsoft Corporation

  • Panasonic Company

  • Promethean, Inc.

  • Saba Software, Inc.

  • SMART Technologies ULC

  • Toshiba Company

3. MARKET TRENDS AND DRIVERS

  • EdTech emerges as a potential new vertical for investors

  • 2021 Edtech IPOs in US and Asia

  • Education is about to experience an impressive transformation with the influx of smart technologies

  • Tech categories seeing the most investment

  • Gamification of learning, a lucrative way to improve learning outcomes

  • EdTech emerges as a potential new vertical for investors

  • Web Conferencing Accelerates the Transition to Interactive, Synchronous Location-Agnostic Learning in Education

  • E-learning is bringing a new transformation in the education sector

  • Use of video in e-learning shows robust growth

  • Higher user engagement with short videos compared to other forms of content reinforces the value of creating short but effective e-learning video content: % loss of engagement by video duration

  • IoT to augment education technology

  • Rapid Internet Penetration Catalyzes Large-Scale Growth

  • Immersive learning: the next big thing in the education technology market

  • Virtual reality (VR) and wearable devices contribute to cost-effective online learning and training

  • Artificial intelligence: supposed to play a key role in the EdTech ecosystem

  • AI expands its role in online learning

  • How AI Influences Higher Education

  • Learning management tools to gain momentum

  • Cloud: growing field for the development and dissemination of distance learning

  • Big Data Set to expand its footprint in the EdTech field

  • Student Information Systems (SIS): Fostering an environment conducive to the exchange of information for the benefit of administration and students

  • Cloud-Based SIS: Delivering Compelling Advantages Over On-Premises Systems

  • Innovations improve features and functionality

  • K-12 schools and colleges benefit from SIS

  • Integration with LMS to increase the relevance of the SIS

  • Growing Role of Educational ERP in Improving Operational Efficiency

  • The pandemic is driving the adoption of educational ERP

  • Emerging technology trends are driving the education ERP software market

  • Movement Towards Paperless Widens Adoption Among Educational Institutions

  • Unified SIS-ERP systems seek growing role

  • Analytics Feature Enhances ERP for Education

  • The market will benefit from the growing number of educational institutions

  • The ongoing digital transformation in higher education bodes well

  • Adaptive learning holds great potential

  • Digital Education Content Expands Reach to a Larger Pool of Learners

  • Creating Personalized Learning Drives Adoption of Digital Content

  • Growing youth population to increase future demand

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

IV. COMPETETION

For more information on this report, visit https://www.researchandmarkets.com/r/vbu2v9

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