Smart Classroom Market analysis report by Future Market Insights shows that global sales of Smart Classroom Market in 2021 was held at USD 71.5 Billion. With the projected market growth of 7% from 2022 to 2032, the market is expected to reach a valuation of USD 152.4 Billion by 2032. K-12 Education is expected to be the fastest revenue-generating segment, projected to grow at a CAGR of over 7.3% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Global Smart Classroom Market Size (2022) | USD 77.5 Billion |
| Global Smart Classroom Market Size (2032) | USD 152.4 Billion |
| Global Smart Classroom Market CAGR (2022 to 2032) | 7% |
| USA Smart Classroom Market Size (2032) | USD 17.6 Billion |
| Key Companies Covered | Microsoft Corporation; Dell Inc.; Apple, Inc.; Fujitsu Ltd.; Cisco Systems, Inc.; Discovery Communications; Dynavox Mayer-Johnson; Huawei Technologies Co.; Blackboard Inc.; SAP SE |
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As per the Smart Classroom Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Smart Classroom Market increased at around 7.8% CAGR.
Based on End-use, the Smart Classroom industry is being affected by the K 12 Education component. This segment is expected to expand at a CAGR of 7.3% through 2032.
The expansion of the smart classroom market is being fuelled by increased demand and use of digital learning technologies, as well as an increase in the number of mobile learning apps.
The rising education spending has been the key factor in the growth of the smart classroom market. With USD 14.6 Billion in investments in VC-backed education in 2020, the growing expenditure on smart education is expected to further propel the smart classroom market. This investment has more than doubled from that of USD 7 Billion in 2019.
BYJU for instance, raised USD 460 Million for K-12 personalized learning programs, extending the momentum beyond 2021. Articulate raised USD 1.5 Billion for corporate training technologies, while BYJU raised USD 1.5 Billion for the same. Similarly, education technology businesses focusing on skill development have been hit hard. In February 2020, Roblox, an online gaming portal that teaches programming, received USD 150 Million in investment. Such significant investments and budgets are predicted to fuel market expansion over the forecast period.
Increased mobile adoption and the lowering prices of e-learning resources are considered key game-changer in the expansion of the education business. Europe, the United States, and developing markets lead the way with respect to internet and mobile penetration. Meanwhile, emerging markets are likely to grow significantly, with mobile becoming a key instrument for gaining knowledge. As a result, the market is expected to rise rapidly in the coming years.
The smart classroom industry is also largely influenced by government approaches toward providing learners with digital education. Several nations' governments are becoming involved in delivering digital learning in various educational institutions. Governments are pushing different institutions to offer online learning programs in addition to offering internet access. For example, FutureSchools@Singapore, a government program in Singapore, delivers high-end technological and digital material to Singapore schools. Furthermore, in January 2022, the Delhi government in India took a creative step to build and provide 20,000+ smart classroom facilities in different schools by making 16 smart classrooms in Shaheed Amir Chand Sarvodaya Vidyalaya. The idea is to provide a smart classroom that can improve the teaching-learning process by providing the learners with access to all online learning materials. Modern cameras would be put in the classrooms to record live classes, which students and teachers would be able to access later. As a result, the growth in government initiatives promoting digital education is one of the key drivers driving the global smart classroom market.
Furthermore, the increased usage of the internet of things (IoT) and other novel techniques in the educational sector is likely to propel the smart classroom market ahead.
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During the projected period, the United States is expected to hold the largest share of the global Smart Classroom Market with a projected market size of over USD 40 Billion by 2032.
The large smart classroom market size can be ascribed to a large number of investment firms and private equity investors investing in the smart classroom industry in the United States. For example, Class Technologies Inc., an educational platform located in the United States that provides both higher education classrooms and K-12 classes, earned around USD 105 Million in Series B investment in July 2021. This support has led them to extend their worldwide footprint outside of the United States and remain resourced to assist colleges in teaching affected students during the epidemic.
Along with the United States, the Asia Pacific smart classroom industry will also develop rapidly due to positive government initiatives in Japan, China, India, and Australia. Leading firms are anticipated to profit from the expansion of smart learning platforms. Smart classrooms will be helpful to generate traction as large corporations prioritize interactive learning.
Europe is also expected to account for a significant percentage of global smart classroom revenues due to the usage of e-learning solutions. Furthermore, with the increasing popularity of AI-enabled gadgets, education management systems will be in great demand in the coming future.
The United States is expected to account for the highest market size of USD 39.4 Billion by the end of 2032 with an expected CAGR of 6.1% between 2022 and 2032. Technological advancements, rising usage of the internet of things (IoT) and other novel techniques, strong government support, increased mobile adoption, and the low price of e-learning resources and foreign investments are the key drivers of growth.
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The K-12 Education segment is forecasted to grow at the highest CAGR of over 7.3% from 2022 to 2032. It is due to the rising pattern of game-based education in the K-12 domain. The majority of K-12 instructors support gamification projects in schools to improve students' arithmetic learning skills through the incorporation of practical, project-based work. Incorporating technology in this area also allows for immersive material and experiences, like virtual field excursions and intricate lab-based investigations, leading to an engaging educational experience. For example, Matific, an e-Learning platform that provides Mathematics instructions for K-6 kids, will create a gamified setting for their students to study Mathematics in September 2021. This advanced edition is AI-powered and customized for students to help them improve their arithmetic abilities.
The Hardware segment is forecasted to grow at the highest CAGR of around 7.1% from 2022 to 2032. It is due to the rising importance of smart classrooms in the education business. For example, Creative Labs., a provider of virtual reality for the smart classroom sector, delivered virtual reality headphones to Smt. Godavari Devi Saraf Senior Secondary School in Andhra Pradesh, India, in February 2022, to allow learners to feel what they are studying. The school provides 20 minutes every day for students to use virtual reality headsets. Additionally, this enables learners to have real-time exposure to what they are studying in disciplines such as science, where they might study the structure of the heart of a human being via headphones.
Market participants are pursuing a variety of strategic initiatives, including partnerships, mergers and acquisitions, collaborations, and the creation of new products and technologies. Some of the key market participants in the Smart Classroom market include Microsoft Corporation, Dell Inc., Apple, Inc., Fujitsu Ltd., Cisco Systems, Inc., Discovery Communication, Dynavox Mayer-Johnson, Huawei Technologies Co., Blackboard Inc., and SAP SE.
Some of the recent developments in the smart classroom market include:
In January 2022, Teachmint Technologies Pvt. Ltd, an e-learning company for teachers and students, purchased MyClassCampus (Teachmint Technologies Pvt. Ltd), an ERP platform for educational enterprises, in January 2022. By merging its learning management system (LMS) with ERP software, Teachmint will be able to increase its offerings in schools and other educational institutions.
In March 2021, Huawei Technologies Co., Ltd. announced the debut of a smart classroom solution that depends on the HUAWEI IdeaHub Board as well as the educational cloud platform. This approach is utilized for online education, live broadcasting, and remote teaching. Moreover, the group discussion scenario allows instructors and students to exchange material and engage with one another, enhancing student interest and encouraging them to take charge, thereby improving the learning environment and efficiency.
In May 2021, SAP SE introduced SAP Learning Hub, a free learning resource for students and teachers. This new free program for the next generations of talent will provide the information and opportunities needed to attain in-demand digital skills.
In February 2020, Blackboard Inc. revealed the acceptance of its edtech software and services for Navajo Technical University (NTU). Through the cooperation, the firm provides its cloud-based installation of a Learning Management System (LMS), online educational solution, course material accessibility service, blackboard collaborations, blackboard studies, blackboard ally, and IT help desk services.
Similarly, recent developments related to Smart Classroom Solution Providers have been tracked by the team at Future Market Insights, which are available in the full report.
The global Smart Classroom Market is worth more than USD 71.5 Billion at present.
The value of Smart Classroom Market is projected to increase at a CAGR of around 7% during 2022 to 2032.
The value of Smart Classroom Market increased at a CAGR of around 7.8% during 2017 to 2021.
The increased usage of mobile learning apps and the surge in acceptance of online learning services throughout the globe is expected to complement smart classroom market expansion.
The market for Smart Classroom Market in US is projected to expand at a CAGR of around 6.1% during 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Component 5.1. Hardware 5.1.1. Interactive Whiteboards 5.1.2. Digital Displays 5.1.3. Smart Projectors 5.1.4. Others 5.2. Software 5.2.1. Learning Management Software 5.2.2. Student Response Software 5.2.3. Classroom Management and Assessment Software 5.2.4. Distance Learning Solutions 5.2.5. Security 5.2.6. Others 5.3. Services 5.3.1. Managed/Outsourced 5.3.2. Professional 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By End Use 6.1. K to 12 Education 6.2. Higher Education 6.3. Language Education 6.4. Vocational Education 7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Microsoft Corporation 15.2. Dell Inc. 15.3. Apple, Inc. 15.4. Fujitsu Ltd. 15.5. Cisco Systems, Inc. 15.6. Discovery Communications 15.7. Dynavox Mayer to Johnson 15.8. Huawei Technologies Co. 15.9. Blackboard Inc. 15.10. SAP SE 16. Assumptions & Acronyms Used 17. Research Methodology
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