New York, April 19, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "EdTech And Smart Classrooms Global Market Report 2023" - https://www.reportlinker.com/p06443891/?utm_source=GNW
, Lenovo Group Limited, Microsoft Corporation, Oracle Corporation, SAP SE, Smart Technologies ULC, Educomp Components Ltd., Ellucian Company L.P, NIIT Ltd., Promethean World Ltd., Houghton Mifflin Harcourt, and Henry Harvin Education.
The global edtech and smart classrooms market grew from $140.24 billion in 2022 to $162.89 billion in 2023 at a compound annual growth rate (CAGR) of 16.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The edtech and smart classrooms market is expected to grow to $304.63 billion in 2027 at a CAGR of 16.9%.
The edtech and smart classroom market consists of revenues earned by entities by providing interactive projectors and interactive displays.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
EdTech (a combination of "education" and "technology") refers to hardware and software designed to enhance teacher-led learning in classrooms and improve students’ education outcomes.A smart classroom is an EdTech-upgraded classroom that enhances the teaching and learning process for both the teachers and the students by inculcating technology and virtual means of learning such as audio, video, animations, images, and multimedia.
The edtech and smart classroom is used to provide interactive and collaborative way of learning for people.
North America was the largest region in the edtech and smart classroom market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in edtech and smart classroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of edtech and smart classroom education system markets are learning management system, student information and administration system, student collaboration system, student response system, learning and gamification, test preparation, classroom management system, document management system, and talent management system.Learning management systems are used in eLearning programs which help in administration, documentation, tracking, and recording.
A learning management system (LMS) refers to an online system or software which is used to plan, execute, and assess a specific learning process.The deployment types are cloud and on-premises.
The hardware used are interactive displays and interactive projectors.The various components used are hardware, software, and services.
The end-use are K-12 and higher education.
The growing investment in eLearning and EdTech is driving the growth of edtech and smart classrooms market going forward.E-learning stands for electronic learning and it allows people to learn via electronic media, typically on the internet.
It allows users to take courses online using electronic devices, such as a computer, tablets, and even smartphones.E-learning uses EdTech that is the use of technology and technology processes to facilitate learning and improve performance.
For instance, according to UN Children’s Fund (UNICEF) data reported on March 2021, globally more than 168 million school children missed out on learning in class, as schools in some 14 countries remained largely shut due to COVID-19-related lockdowns .Therefore, this has presented an opportunity for e-learning & edtech providers to capture the market thereby prompting increased investments in the sector.
For Instance, according to a report by Tracxn, an India-based platform for tracking start-ups and private companies, Indian ed-tech companies have raised $248 million in January to July 2022 from different sources. The Indian ed-tech companies raised $101 during January to July in 2021, and $251 million annually in 2021. Global ed-tech investments are worth $1.21 billion in 2022. Therefore, the growing investment in eLearning and EdTech will drive the edtech and smart classrooms market.
Technological advancement is a key trend gaining popularity in the edtech and smart classrooms market.Major players operating in the market are concentrating their efforts on creating innovative technologies like the Virtual Learning Environment (VLE) app that uses AI (Artificial Intelligence).
For Instance, in December 2021, Microsoft corporation, a US-based technology company, and the Oliver Group an Ireland-based EdTech company jointly launched a new virtual learning environment app.This app that runs on the Microsoft Teams application is an intuitive software platform that delivers a wide range of interactive digital content and offers the user a more user-centric learning experience.
It features a wide range of interactive digital content and currently encompasses 250 million global Microsoft Teams daily active users. This product, therefore, offers its users seamless student-tutor interaction through easy-to-use interactive tools.
In May 2022, Byju’s, an India-based, Educational technology company, acquired GeoGebra for $100 million.This acquisition complements Byju’s overall product strategy and integrates GeoGebra’s capabilities to enable the creation of new product offerings and learning formats to its existing mathematics portfolio.
GeoGebra, is an Austria-based company that provides collaborative mathematics learning tools.
The countries covered in the edtech and smart classroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The edtech and smart classroom market research report is one of a series of new reports that provides edtech and smart classroom market statistics, including edtech and smart classroom industry global market size, regional shares, competitors with an edtech and smart classroom market share, detailed edtech and smart classroom market segments, market trends and opportunities, and any further data you may need to thrive in the edtech and smart classroom industry. This edtech and smart classroom market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06443891/?utm_source=GNW
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