Edtech and Smart Classroom market size worth $234.41 billion,

New York, Aug. 03, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research 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-Premise, Cloud, and Hybrid), and End User (Up to K-12 and Education)” The growth of the global education technology and smart classroom technology market is driven by the increasing popularity of cloud computing and cloud-based solutions across various industrial sectors and its potential for accelerating the development and adoption of innovative technology solutions and services for enhanced user experience and enhanced operational productivity.

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Market size Value in US$75.24 billion in 2019
Market Size Value by US$234.41 billion by 2027
Rate of growth CAGR of 15.3% from 2020 to 2027
Forecast period 2020-2027
base year 2020
Number of pages 200
Number of tables 112
Number of graphs and figures 86
Historical data available Yes
Segments Covered Component, Deployment Type, and End User
Regional scope North America; Europe; Asia Pacific; Latin America; AEM
Country scope United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report cover Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Online learning has become an integral part of learning and teaching best practices around the world. EdTech and smart classroom solutions help improve the quality of teaching and learning. Edtech includes online learning, pedagogical teaching and learning theories, as well as computer-based and smartphone-based learning. It has been widely adopted by various primary and higher education institutes to provide a better learning experience for students. Edtech and the smart classroom are an assembly of several hardware and software systems, such as projectors, interactive displays, interactive whiteboards, printers, learning management and classroom management modules. It is not possible to deploy all hardware components on a single computer due to limited computing power; hence, a distributed computing platform is required to create an intelligent environment in schools and colleges, which is also fueling the growth of the EdTech and Smart Classroom market.

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Growing need to develop competitive strategies in the education sector to withstand market dynamics and increasing focus on personalized learning are the major trends in the education and classroom technology market smart. Furthermore, the increase in the adoption of mobile devices such as laptops, smartphones, and tablets provides profitable opportunities for market players. However, lack of technical know-how and data storage infrastructure is a major impediment to market growth, especially in several underdeveloped countries in Africa and SAM. The United States is recognized as one of the world leaders in terms of R&D related to edtech and smart classrooms.

The COVID-19 outbreak is expected to further drive the adoption of educational technology solutions in schools, colleges and universities due to the temporary suspension of classroom instruction at educational institution premises since March 2020 and uncertainty regarding future opening dates in all major regions. such as North America, Europe and APAC. Thus, the education technology and smart classroom market is witnessing an increase in YoY growth in 2020, and it is further estimated to register a high CAGR during the forecast period.

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North America to Hold the Largest Educational Technology and Smart Classroom Market Share

North America held the largest share of the global EdTech and smart classrooms market in 2019. The United States and Canada are among the most advanced countries in the region when it comes to adoption technology in all sectors, such as education and training. Moreover, the presence of well-known EdTech and smart classroom market players, and the widespread awareness of these smart technologies are expected to propel the market growth over the forecast period. Adopting smart technologies allows educational institutions to better understand the candidates seeking training from them, allowing them to offer personalized content while reducing student attrition. Likewise, faculty can design curricula for education and learning systems by leveraging these software solutions.

Higher education institutions across North America are turning to cloud technology to deliver advanced education to their students and train their faculties to adapt to new applications used in online learning. The 2020 National Education Technology Plan is announced by the US government and aims to bring new technological developments to the education sector and provide better learning opportunities for all students in schools and universities. In February 2020, North Central Missouri College (NCMC) selected D2L’s Brightspace platform for the learning management system. Additionally, Benesse Holdings, Inc. has funded US$50 million for Udemy, an e-learning platform. Through the establishment of offices in Denver, Colorado; Dublin, Ireland; Gurgaon, India; Ankara, Turkey; and Sao Paulo, Brazil, the company invests in the San Francisco markets, as well as the global market.

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Norma A. Roth