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Edtech and Smart Classroom Market Revenue to Cross US$ 234.41 billion by 2027: The Insight Partners

According to The Insight Partners’ research, the Edtech and Smart Classroom Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Hardware, Software, and Services), Deployment Type (On-Premises, Cloud, and Hybrid), and End-User (Up to K-12 and Higher Education),” the market was valued at US$ 75.24 billion in 2019 and is projected to reach US$ 234.41 billion by 2027; it is expected to grow at a CAGR of 15.3% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

Cloud-based software solutions provide easy scalability and high operational flexibility to e-learning companies and institutions while reducing their overall costs and operational risks. Moreover, the ever-evolving cloud architecture and system algorithms, easy accessibility, and advanced feature integration  are fueling the adoption of these solutions in diverse industry verticals, including education sector. Cloud deployment is an attractive option for organizations of all sizes as it ensures payment on use-basis, regular data backup, high security, lower capital and operational costs, and instant provisioning features for up to date functionality provided by such solutions. These benefits associated with the cloud deployment of various EdTech and smart classroom solutions are fueling the adoption of these solutions worldwide. With increasing number of companies—such as Citrix Systems, Inc.; IBM Corporation; Microsoft Corporation; and Oracle—offering cloud-based solutions for the education sector, the adoption of these solutions is anticipated to outnumber the on-premises deployments at an impressive rate during the forecast period.

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North America is the largest market in for edtech and smart classroom market. The demand for education technology solutions and services is high in developed nations such as US and Canada owing to the huge presence of edtech companies, smart device manufacturers, and cloud service providers, and high adoption of advanced technologies in schools and educational institutions. The education technology industry has been flourishing at an impressive pace in the US due to its high adoption among endusers, and growing investments and funding initiatives for edtech startups. As per the WHO reports, the US is the world’s worst-affected country by the COVID-19 outbreak in terms of confirmed cases and deaths. However, in the wake of lockdowns and social distancing measures imposed by governments, increasing number of schools and universities have adopted distance learning programs through virtual classrooms and with the help of online exam and assessment tools. This has propelled the demand for video conferencing, digital content consumption, virtual classrooms, and other education technologies.

Rising Digitalization in Education Sector Drives Edtech and Smart Classroom Market Growth

Digital transformation has been transforming industries worldwide by driving the adoption of digital technologies, and smart and connected hardware, which increases the overall operational productivity and revenues of companies worldwide. Education is one of the key industries where digitalization is rapidly evolving with the growing adoption of smart devices such as interactive displays, tablets, notebooks, and smartphones in classrooms, as well as in the routines of students and school staff. In addition, the growing digital content creation for education sector, online/e-learning courses, online exams, virtual classrooms, edutainment, and digital textbooks are further boosting the global edtech and smart classroom market growth. The US, China, India, UK, France, South Korea, and Australia are a few of the key countries wherein the trend of digitalized education has been growing at an impressive pace. Moreover, in China, the US, and India, digitalization in the educational sector is booming with unprecedented increase in edtech investments since the past few years.

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The List of Companies – Edtech and Smart Classroom Market

Apple, Inc, lackboard Inc., Cisco Systems, Inc, D2L Corporation, IBM Corporation, LENOVO GROUP LIMITED, Microsoft Corporation, Oracle Corporation, SAP SE and SMART TECHNOLOGIES

In 2020, Blackboard Inc declared the accessibility of the Reporting Tier for the Blackboard Data platform, which offered institutions access to reports designed to offer insights on use of learning tools within the Blackboard SaaS EdTech ecosystem.

In 2020, Cisco introduced Webex Classrooms that securely connect teachers, students, and parents in a single place, irrespective of their actual location.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

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