Market Overview:
According to our latest market study on “Edtech and Smart Classroom Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Hardware, Software, and Services), Deployment Type (On-Premises, Cloud, and Hybrid), and End-User (Upto K-12 and Higher Education),” the market was valued at US$ 75.24 billion in 2019 and is projected to reach US$ 234.41 billion by 2027; it is expected to grow at a CAGR of 15.3% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.
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Cloud-based software solutions provide easy scalability and high operational flexibility to e-learning companies and institutions while reducing their overall costs and operational risks. Moreover, the ever-evolving cloud architecture and system algorithms, easy accessibility, and advanced feature integration are fueling the adoption of these solutions in diverse industry verticals, including education sector. Cloud deployment is an attractive option for organizations of all sizes as it ensures payment on use-basis, regular data backup, high security, lower capital and operational costs, and instant provisioning features for up to date functionality provided by such solutions. These benefits associated with the cloud deployment of various EdTech and smart classroom solutions are fueling the adoption of these solutions worldwide.With increasing number of companies—such as Citrix Systems, Inc.; IBM Corporation; Microsoft Corporation; and Oracle—offering cloud-based solutions for the education sector, the adoption of these solutions is anticipated to outnumber the on-premises deployments at an impressive rate during the forecast period.
Impact of COVID–19 Pandemic on North America Edtech and Smart Classroom Market
North America is the largest market in for edtech and smart classroom market. The demand for education technology solutions and services is high in developed nations such as US and Canada owing to the huge presence of edtech companies, smart device manufacturers, and cloud service providers, and high adoption of advanced technologies in schools and educational institutions. The education technology industry has been flourishing at an impressive pace in the US due to its high adoption among endusers, and growing investments and funding initiatives for edtech startups. As per the WHO reports, the US is the world’s worst-affected country by the COVID-19 outbreak in terms of confirmed cases and deaths. However, in the wake of lockdowns and social distancing measures imposed by governments, increasing number of schools and universities have adopted distance learning programs through virtual classrooms and with the help of online exam and assessment tools. This has propelled the demand for video conferencing, digital content consumption, virtual classrooms, and other education technologies.
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The global edtech and smart classroommarket has been segmented as follows:
Edtech and Smart Classroom Market – by Component
Hardware Software Learning Management System Student Information System Classroom Management System Classroom Assessment System Other Systems ServicesEdtech and Smart Classroom Market – by Deployment Type
On-Premises Cloud HybridEdtech and Smart Classroom Market – by EndUser
Upto K-12 Higher EducationEdtech and Smart Classroom Market – by Region
North America US Canada Mexico Europe Germany France Italy UK Russia Rest of Europe Asia Pacific (APAC) Australia China India Japan South Korea Rest of APAC Middle East and Africa (MEA) South Africa Saudi Arabia UAE Rest of MEA South America (SAM) Brazil Argentina Rest of SAMAbout Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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