The Smart Classroom Market will be worth $71.5 billion in 2021 and will increase at a CAGR of 7% from 2022 to 2032, predicts a recent Future Market Insights analysis. By the end of 2032, the market is anticipated to be worth US$ 152.4 billion.
The education industry went online during the pandemic. Schools and universities started using e-Learning technologies and starting to give lessons online during the lockdown, which spurred industry growth.
A few examples of educational technology that have increased their efficacy include curriculum management software, e-textbooks, management platforms, and communication platforms. Additionally, both the price of the internet data needed to use educational technology gadgets and their cost has fallen.
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Virtual Learning Environments (VLEs), together with significant advancements in remote learning, are expanding the reach of education beyond the walls of traditional educational institutions. VLEs can be used for more than just providing lessons online.
Additionally, they permit comprehensive assessments, projects, exams, progress logs, quick feedback, and other features. Parents can receive daily reports on their child’s growth by email, text message, or other channels, while children and teachers can personalize their accounts on these portals.
Active, sophisticated audio-visual learning in technology-driven smart classrooms may enhance students’ learning experiences even on school premises. Additionally, the use of AI and insights may aid teachers in better tracking their students’ progress by giving them a clear image of each student’s advantages and disadvantages.
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 components, the Hardware segment is expected to account for the 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.
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 the 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) 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 that 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 program 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 ed-tech 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.
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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 the 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)).
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, Inc. (ESOMAR certified, Stevie Award – recipient 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 based on Source, Application, Sales Channel, and End Use over the next 10 years.
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