Valued at $ 207.3 billion by 2026, education technology (Ed Tech) and smart classrooms are expected to experience robust growth globally

FACTS AT A GLANCE
Editing: 8; Posted: december 2021
Executive pool: 15346
Companies: 326 – Players covered 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.
Blanket: All major geographies and key segments
Segments: Component (Hardware, Content, Software); End use (K-12, higher education, kindergarten)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.

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ABSTRACT-

Global Education Technology (Ed Tech) and Smart Classrooms Market to Reach 207.3 billion US dollars by 2026
Education Technology or EdTech is a collaborative connection between education and technology (IT) for the advancement of learning, education and teaching. Integrated information technology education offers great prospects for meeting diverse student demands and presents new opportunities for learners regardless of geographic boundaries. The growth of the Ed Tech and Smart Classrooms market is driven by several factors, including the growing demand for e-learning solutions, the increasing use of connected devices in educational institutions, the growing implementation of government programs in several emerging countries to promote education, lower development costs and increased ease of use, growing demand for digital education, growing need to keep the education system running amid the pandemic and Growing adoption of machine learning (ML) and artificial intelligence (AI) in intelligent learning. The continued efforts of major EdTech players to provide students with online textbooks reduce classroom costs and address resource constraints. The curriculum is expected to be significantly influenced by the power of data and related information, which is sure to influence EdTech. The data and associated analyzes should provide educators with information about student behavior and their interaction with content. In the coming years, technologies such as virtual reality (VR) and augmented reality (AR) are expected to be implemented more in classrooms as learning tools. There are currently various AR experiences and applications available in the market to help students learn K-12 lessons on a wide range of subjects, from history to science and math. After steadily growing over the past few years, the EdTech market has exploded amid the COVID-19 pandemic, allowing venture capital funding to peak impressively.

Amid COVID-19 Crisis, Global Education Technology (Ed Tech) and Smart Classroom Market is estimated at 84 billion US dollars in 2020, is expected to reach a revised size of 207.3 billion US dollars by 2026, with a CAGR of 16.3% over the analysis period. Hardware, one of the segments analyzed in the report, is expected to grow at a CAGR of 14.7% to reach 92.7 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Content segment is readjusted to a revised CAGR of 18.7% for the next 7-year period. This segment currently accounts for a 37% share of the global education technology (Ed Tech) and smart classroom market. EdTech encompasses the use of hardware and software to educate students at the virtual level, with online means of creating the perfect stage to enhance the learning environment. Hardware improvements and the ubiquity of smartphones are key factors that are expected to drive the adoption of virtual reality in e-learning on a larger scale.

The US market is estimated at $ 29.4 billion in 2021, when China is expected to reach $ 43.5 billion by 2026
The education technology (Ed Tech) and smart classroom market in the United States is estimated at US $ 29.4 billion in 2021. The country currently represents 29.3% of the world market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 43.5 billion during the year 2026, with a CAGR of 18.1% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 13.5% and 15.5% respectively over the period of analysis. In Europe, Germany is expected to grow by around 13.7% CAGR while the rest of the European market (as defined in the study) will reach US $ 24.7 billion at the end of the analysis period. North America represents the largest regional market for Ed Tech and smart classrooms attributed to the strong presence of smart device manufacturers, Ed Tech companies and cloud service providers, coupled with increased penetration of advanced technologies in schools and educational institutions in the region. the Asia Pacific The region benefits from the growing interest of educational institutions in digital solutions aimed at increasing operational efficiency. Countries such as China, Indonesia, India and Malaysia report a strong penetration of student information systems in K-12 education to help school management and provide relevant information to students.

Software segment to be reached $ 39.8 billion by 2026
EdTech software allows teachers to organize pre-recorded or live lessons, allowing students to access these resources digitally from anywhere. EdTech apps play an important role in enabling educators to monitor student engagement and attention through distance learning. Many higher education institutions have also live streamed their courses to multiple classrooms and adopted learning management system (LMS) software solutions for the creation, distribution and management of educational content. Various players serving the education technology market are offering better systems, software and hardware to enhance synchronous or asynchronous learning capabilities in the classroom or at home. In the global software segment, United States, Canada, Japan, China and Europe will drive the estimated 14.2% CAGR for this segment. These regional markets representing a combined market size of US $ 14.1 billion in 2020 will reach a projected size of $ 36.7 billion at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach 4.9 billion US dollars by 2026. Following

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