The global EdTech and smart classroom market size is expected to reach USD 277.21 billion by 2028 according to a new study by Polaris Market Research. The report “EdTech and Smart Classroom Market Share, Size, Trends, Industry Analysis Report, By Hardware (Interactive Projectors, Interactive Displays, Others); By Education System; By Technology (Gamification, Analytics, Enterprise Resource Planning, Security, Advanced Technology); By End-Use (Kindergarten, K-12, Higher Education); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The perceptible factors responsible for the market growth include the rapid rise in digital infrastructure in the education sector, along with the growing adoption of smart devices and rising internet penetration for the effective integration of digital education among students. Digital EdTech and intelligent study rooms lead to creating new learning opportunities for students through an engaging online environment.
For instance, in August 2021, the Duojing Capital Research Institute reported that China’s investment towards digitizing EdTech would reach USD 8.7 billion in the coming two years, following the increased adoption of e-dictionary pens, robots, educational tablets, and smart lights.
Indonesia also led away towards digitalization by taking significant steps in digitalization processes. The directorate general’s 2021 programs involved close collaboration with the Communications and Information Ministry to advance a start-up-centric curriculum, along with the massive online training program for students and teachers, with the aim of 100,000 participants.
Therefore, the digitalization of the education industry has prompted the adoption of e-learning solutions and the establishment of EdTech startups in the education sector, which may contribute significantly towards the high growth prospect of the global market.
Based on the education system, the learning management segment accounted for a leading share, as these systems are primarily used for supervision, tracking, certification, and providing eLearning applications. Whereas the segment will also witness a substantial growth rate, owing to the increasing application of artificial intelligence (AI) and machine learning (ML) in LMS.
Market participants such as Anthology Inc., 2U, Apple Inc., Cisco Systems, Blackboard Inc., Cornerstone, D2L Corporation, Discovery, Inc., Dell EMC, Ellucian, Google, IBM, FUJITSU, Instructure Inc., Smart Technologies ULC, Microsoft Corporation, Lenovo, Oracle Corporation, SAP SE, PROMETHEAN LIMITED, and Workday Inc are some of the key players operating in the global market.