Valued to be $207.3 Billion by 2026, Education Technology (Ed Tech) and Smart Classrooms Slated for Robust Growth Worldwide

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Edition: 9; Released: February 2022
Executive Pool: 15346
Companies: 326 – Players to be distributed include Apple, Inc .; Blackboard, Inc .; Cisco Systems, Inc .; Dell EMC; Discovery Communications, Inc .; DynaVox Mayer-Johnson; Fujitsu Ltd .; Hewlett Packard Enterprise Development LP (HPE); IBM Corporation; Jenzabar, Inc .; Lenovo Group Ltd .; Microsoft Corporation; Panasonic Corporation; Promethean, Inc .; Saba Software, Inc .; SMART Technologies ULC; Toshiba Corporation and others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Content, Software); End use (K-12, higher education, kindergarten)
Geographies: The world; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and the rest Europe); Asia-Pacific region; The rest of the world.

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ABSTRACT

The market is Global Educational Technology (Ed Tech) and Smart Classrooms $ 207.3 billion until 2026
Educational Technology or EdTech is a collaborative link between education and technology (IT) to improve learning, education and teaching. Information technology education has bright prospects for meeting the diverse demands of students and opens up new opportunities for students regardless of geographical boundaries. The growth of the Ed Tech market and smart classrooms is driven by several factors, including growing demand for e-learning solutions, increased use of connected devices in educational institutions, increased implementation of government schemes in a number of developing countries to promote education, lower development costs and expanded ease of use, growing demand for digital education, the growing need to maintain the education system in a pandemic, and the increasing proliferation of machine learning (ML) and artificial intelligence (AI) in smart learning. The data and related analytics are expected to give teachers an insight into student behavior and interaction with content. It is expected that in the coming years, technologies such as virtual reality (VR) and augmented reality (AR) will witness a wider introduction into the classroom as a means of learning. After steady growth in recent years, the EdTech market has received a boom amid the COVID-19 pandemic, which has allowed venture capital funding to deliver an impressive surge. Smart classrooms and interactive whiteboards enhance the learning experience by allowing educators to convey information through animated videos, graphs, images, flowcharts and maps. The approach makes learning easy to understand and interest, while enabling students to understand, grasp and memorize concepts over a longer period.

Against the backdrop of the COVID-19 crisis, the global market for educational technology (Ed Tech) and smart classes is valued at 118 billion US dollars in 2022 is projected to reach a revised size $ 207.3 billion by 2026, growing by 16.3% over the analytical period. Equipment, one of the segments analyzed in the report, is projected to grow by 14.7% CAGR to reach 92.7 billion US dollars by the end of the analysis period. After a careful analysis of the effects of the pandemic and the resulting economic crisis for business, growth in the content segment was revised to a revised CAGR of 18.7% for the next 7-year period. Currently, this segment accounts for 37% of the global market for educational technology (Ed Tech) and smart classes. EdTech involves the use of hardware and software to teach students at the virtual level, and online means creating the perfect scene to improve the learning environment. Improvements in hardware and the ubiquity of smartphones are key factors that are expected to drive the spread of VR in e-learning on a larger scale.

The US market is valued at $ 34.4 billion in 2022, while China is projected to reach $ 43.5 billion until 2026
The market for educational technology (Ed Tech) and smart classes in the US is valued at $ 34.4 billion in 2022. Currently, the country’s share in the world market is 29.3%. Chinathe world’s second largest economy is projected to reach its estimated market size $ 43.5 billion in 2026 CAGR 18.1% for the analysis period. Among others, geographic markets deserve attention Japan and Canada, each of the forecasts will increase by 13.5% and 15.5% respectively over the analysis period. Inside Europe, Germany CAGR is projected to grow by about 13.7%, while the rest of the European market (as determined in the study) will reach $ 24.7 billion by the end of the analysis period. North America is the largest regional market for Ed Tech and smart classes, due to the strong presence of smart device manufacturers, Ed Tech companies and cloud service providers combined with increased penetration of advanced technologies in schools and educational institutions in the region. The Asia-Pacific region the region benefits from increasing the focus of educational institutions to digital solutions to improve efficiency. Countries like China, Indonesia, India and Malaysia report the high penetration of student information systems in K-12 Education to assist in school management and provide relevant information to students.

Software segment to reach $ 39.8 billion until 2026
EdTech software allows teachers to conduct pre-recorded or live classes, allowing students to access these resources digitally from anywhere. EdTech applications play an important role in enabling educators to monitor student interaction and attention through distance learning. Many higher education institutions also broadcast their classes live in several classes, and make software management system (LMS) software solutions to create, distribute and manage educational content. Various players serving the educational technology market offer the best systems, software and hardware to improve the ability of synchronous or asynchronous learning in the classroom or at home. In the global software segment, USA, Canada, Japan, China and Europe will result in a 14.2% CAGR estimated for this segment. These regional markets make up the aggregate market size $ 14.1 billion reach projected size $ 36.7 billion until the end of the analysis period. China will remain one of the fastest growing regional markets in this cluster. Led by countries like Australia, Indiaand South Koreamarket in Asia-Pacific region projected to reach $ 4.9 billion until 2026. Read more

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