Edtech and Smart Classroom Market Growth Drivers and Forecast by 2031

The edtech and smart classroom market size is expected to grow from US$ 139.42 billion in 2023 to US$ 562.65 billion by 2031; it is estimated to grow at a CAGR of 19.1% from 2023 to 2031. Growing technological use in the education industry is likely to remain key edtech and smart classroom market trends.

Edtech and Smart Classroom Market Analysis

IT systems, especially cloud-based platforms, are more important than ever because of the growing emphasis on digital lesson planning and remote learning. Potentially, the cloud is a technological innovation that encourages transformation for its users. Through the use of distant servers, networking, database systems, analytics, storage systems, software, and other digital resources, cloud computing is an information technology paradigm that provides computing services via the Internet. For higher education, cloud computing offers substantial advantages, especially for K -12 university students. Educators may effortlessly conduct virtual lessons and include their pupils in diverse online assignments and programs by leveraging cloud computing in the classroom. Thus, the growing use of virtual lessons is propelling the growth of the edtech and smart classroom market.

Edtech and Smart Classroom Market Overview

The cloud is the most extensively used technology due to its adaptable storage and usage methods, strong security features, and simplicity of use. Educators can take advantage of the cloud for low-cost online learning, file sharing, and storing massive files in a variety of formats. Because of this, almost all EdTech businesses and educational organizations favor using the cloud. Learning through gamification is another inventive fad. Regarding educational technology, Conventional educational methods are laborious and need intense focus gamification; however, they turn learning into an enjoyable endeavor. Through gamification, students can compete with a timer or with each other, view their progress in real-time on leaderboards, and receive prizes for high scores. For today's users, this has increased the excitement and enjoyment of learning. Many significant firms have used gamification as a marketing trend in response to this edtech and smart classroom trend.

Edtech and Smart Classroom Market: Strategic Insights

Edtech and Smart Classroom Market Drivers and Opportunities       

Rise in Mobile Penetration to Favor Market Growth

Mobile penetration is highest among those with lower incomes. AT&T has offered US $100 million to give mobile connectivity and gadgets to 50,000 students in low-income and rural locations, according to Saperstein. India, the world's second most populous country, with 18 billion people (World Bank), may overtake China to become the most populated country by 2024 (UN Report).

In addition, India has one of the youngest populations, with nearly 30% of India's population aged between 18 to 34 and 260 million school children. As of 2022, stated by the Project Tomorrow report, 33% of US high school students and 31% of middle and elementary school students have school-issued mobile devices. As a result of the widespread use of mobile devices, gamification, virtual classrooms, and e-learning are on the rise, which is driving the growth of the edtech and smart classroom market.

Edtech and Smart Classroom Market Report Segmentation Analysis

Key segments that contributed to the derivation of the edtech and smart classroom market analysis are the component and end-user

• Based on the components, the edtech and smart classroom market is segmented into hardware, software, and services.
• Based on end users, the edtech and smart classroom market is segmented into up to K-12 and higher education.

Edtech and Smart Classroom Market Share Analysis by Geography

• The edtech and smart classroom market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific is anticipated to grow with the highest CAGR over the forecast period.
• China has made substantial investments in ICT infrastructure and educational resources over the last few years, which has advanced the integration of technology in education. In China, online learning has gained popularity in recent years. Users of eLearning are becoming more and more prevalent. For example, the area offers a number of eLearning systems, including online learning, VIPKid, and an education platform that offers Chinese kids between the ages of 4 and 15 one-on-one English lessons. Chinese people. Since the 1990s, when eLearning first emerged, the government has placed a great deal of emphasis on its development because of the execution of many policies. As a result, the area has accomplished a great deal in the eLearning field, which is propelling the growth of the edtech and smart classroom market.

The regional trends and factors influencing the Edtech and Smart Classroom Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Edtech and Smart Classroom Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Edtech and Smart Classroom Market Report Scope

Edtech and Smart Classroom Market Players Density: Understanding Its Impact on Business Dynamics

The Edtech and Smart Classroom Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Edtech and Smart Classroom Market News and Recent Developments

The peer to the peer insurance market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the edtech and smart classroom market:

• In July 2022, Blackboard Inc. announced the release of the Reporting Tier for the Blackboard Data platform, which will provide institutions with reports geared to provide perceptions on the use of learning tools within the Blackboard SaaS EdTech ecosystem.

(Source: Blackboard Inc, Press Release)

• In September 2022, Cisco launched Webex Classrooms, which securely connect teachers, students, and parents in a single area, regardless of their physical location.

(Source: Cisco, Press Release)

Edtech and Smart Classroom Market Report Coverage and Deliverables

The "Edtech and Smart Classroom Market Size and Forecast (2021-2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles