The Smart Classroom Market revenues is estimated at US$ 71.5 Bn in 2021 and is anticipated to grow at a CAGR of 7% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 152.4 Bn.
During the pandemic, the education sector migrated to online mode. Schools and universities started to offer lessons online and utilized e-Learning technology, which is fueled the industry growth during the lockdown.
Curriculum management software, e-textbooks, management, and communication platforms are examples of educational technology that boosted their effectiveness. Additionally, the cost of educational technology gadgets and the internet data required to use them also reduced.
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Virtual Learning Environments (VLEs), like comprehensive developments in remote learning, are breaking down physical boundaries to education, extending its reach beyond the walls of institutional facilities. VLEs are not only for delivering lessons via online platforms. They also allow full-fledged assessments, projects, exams, progress records, rapid feedback, and other features. While kids and teachers can customize their profiles on these portals, parents can obtain daily reports on their child’s development via email, text messaging, or other methods.
Even on school grounds, technology-driven smart classrooms may improve students’ learning experiences through active, sophisticated audio-visual learning. Furthermore, the application of AI and insights may help teachers better monitor their learners, providing them with an accurate picture of each student’s strengths and limitations.
Key Takeaways from the Market Study
- Global Smart Classroom Market is expected to reach a market size of US$ 152.4 Bn by 2022.
- In terms of End-use, the K-12 education segment is expected to account for the highest CAGR of 7.3% during the forecast period.
- In terms of component, the Hardware segment is expected to account for highest CAGR of 7.1% during the forecast period.
- United States is projected to remain the dominant market with an absolute dollar growth opportunity of US$ 17.6 Bn during 2022 – 2032.
- The market in India is set to experience the highest CAGR of 7.4% during the 2022-2032 forecast period.
“During the projected period, the rise of K-12 Education in terms of end-use can become a key driver in raising the Smart Classroom market revenue.” comments a Future Market Insights analyst.
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Competitive Landscape
Market participants are pursuing a variety of strategic initiatives, including partnerships, mergers and acquisitions, collaborations, and the creation of new products and technologies. Some of the key market participants in Smart Classroom market include Microsoft Corporation, Dell Inc., Apple, Inc., Fujitsu Ltd., Cisco Systems, Inc., Discovery Communication, Dynavox Mayer-Johnson, Huawei Technologies Co., Blackboard Inc., and SAP SE.
Some of the recent developments in the smart classroom market include:
- In January 2022, Teachmint Technologies Pvt. Ltd, an e-learning company for teachers and students, purchased MyClassCampus (Teachmint Technologies Pvt. Ltd), an ERP platform for educational enterprises, in January 2022. By merging its learning management system (LMS) along with ERP software, Teachmint will be able to increase its offerings in schools and other educational institutions.
- In March 2021, Huawei Technologies Co., Ltd. announced the debut of a smart classroom solution which depends on the HUAWEI IdeaHub Board as well as the educational cloud platform. This approach is utilized for online education, live broadcasting, and remote teaching. Moreover, the group discussion scenario allows instructors and students to exchange material and engage with one another, enhancing student interest and encouraging them to take charge, thereby improving the learning environment and efficiency.
- In May 2021, SAP SE introduced SAP Learning Hub, a free learning resource for students and teachers. This new free programme for the next generations of talent will provide the information and opportunities needed to attain in-demand digital skills.
- In February 2020, Blackboard Inc. revealed the acceptance of its edtech software and services for Navajo Technical University (NTU). Through the cooperation, the firm provides its cloud-based installation of a Learning Management System (LMS), online educational solution, course material accessibility service, blackboard collaborations, blackboard studies, blackboard ally, and IT help desk services.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Classroom Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Smart Classroom Market in terms of Component (Hardware, Software, Services), End-use (Early Education, K-12 Education, Higher Education, Language Education, Vocational Education), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA)).
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Market Segments Covered in Smart Classroom Market Analysis
By Component:
- Hardware
- Interactive Whiteboards
- Digital Displays
- Smart Projectors
- Others
- Software
- Learning Management Software
- Student Response Software
- Classroom Management and Assessment Software
- Distance Learning Solutions
- Security
- Others
- Services
- Managed/Outsourced
- Professional
By End-use:
- Early Education
- K-12 Education
- Higher Education
- Language Education
- Vocational Education
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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