The Rising Demand For EdTech and Smart Classroom Solutions

The Edtech and smart classroom market has seen significant growth due to increased demand for digital education and remote learning solutions due to the COVID-19 pandemic.

FREMONT, CA: The integrated worth of EdTech and smart classroom industries was estimated at USD 75.24 billion in 2019, and it is forecasted to rise to USD 234.41 billion by 2027. This marks an anticipated compound annual growth rate (CAGR) of 15 per cent from 2020 to 2027.

Cloud-based software solutions have become popular among e-learning companies and institutions due to their scalability, flexibility, and cost-effectiveness. These solutions offer advanced features, easy accessibility, and regular data backup, making them a viable option for organisations of all sizes. Cloud deployment also ensures high security, lower operational costs, and instant functionality updates.

Impact of the Covid-19 Pandemic

The Asia Pacific region has a significant population of young and technologically adept students, leading to high demand for various types of EdTech and smart classroom solutions. The prevalence of consumer electronics and a growing interest in e-learning and distance education, particularly in China and India, are driving the EdTech and smart classroom market. The COVID-19 pandemic, which has led to the suspension of in-person classes, has further accelerated the adoption of education technology solutions. Additionally, the presence of many well-funded EdTech startups in the region is contributing to market growth.

In 2019, North America was the leading market with about 37 per cent of the total revenue share due to the presence of developed countries such as the US and Canada with a strong industry base and high technology adoption. The trend of e-learning is growing in North America due to the adoption of various online programs and courses by schools, colleges, and universities. EdTech and smart classrooms are widely adopted by several countries including the US, UK, China, India, Japan, South Korea, and Australia. In Europe, there is a significant demand for top-notch online courses, and many educational institutions are cognizant of the benefits of utilising EdTech and smart classroom solutions.

Deployment Type-Based Insights

The market for educational technology and smart classrooms is divided by deployment type into on-premises, cloud, and hybrid systems. In 2019, the cloud segment was the most dominant. Nowadays, educational institutions like schools, colleges, and universities have their private cloud for various software applications such as learning management systems, classroom management systems, and student information systems. By using cloud-based software, educational institutions can reduce deployment and maintenance costs, achieve scalability, and improve performance through centralised control.

End-User-Based Insights

The EdTech and smart classroom market is divided by end user into K-12 institutes and higher education institutes. In 2019, the K-12 segment was the top performer. With the aid of technological developments, conventional teaching methods have been transformed, resulting in an improvement in the quality of education in various countries. Due to the COVID-19 pandemic, there has been a significant surge in demand for EdTech and smart classroom solutions, particularly in K-12 institutions, owing to the widespread acceptance of e-learning and online teaching.

During the forecast period, the EdTech and smart classroom market in the Asia-Pacific (APAC) region is expected to experience the highest compound annual growth rate (CAGR). This is due to supportive government initiatives towards the adoption of new technologies in the education sector, as well as the increasing use of mobile devices and the presence of renowned universities in the region. However, the market in South America (SAM) and the Middle East and Africa (MEA) is still in the early stages of development due to a lack of skilled professionals to manage EdTech and smart classroom adoption in educational institutes. Despite this, the market in SAM and MEA is expected to grow steadily, thanks to increasing government initiatives to digitise the economies in these regions.