DUBLIN--(BUSINESS WIRE)--The "EdTech and Smart Classroom Market by Hardware (Interactive Displays, Interactive Projectors), System (LMS, SIS, TMS), Technology (Gamification, Analytics, Advanced Technology), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global EdTech and smart classroom market size is expected to grow from USD 85.8billion in 2020 to USD 181.3billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.1% during the forecast period.
The major factors driving the growth of the EdTech and smart classroom market include growing adoption of eLearning solutions, impact of COVID-19 pandemic and growing need for online teaching-learning models to continue the education system in lockdown.
Learning management system segment to hold the largest market share during the forecast period
The LMS applications are used for the supervision, certification, tracking, and offering of eLearning applications. These systems primarily track classroom instructions, automate learning administrations, and provide tools to manage and create content. They allow institutions to access educational content online, thereby enabling students to view materials using the web browser. There exists a wide range of systems that deal with management training and educational records, which facilitate blended and online courses for collaboration between teachers and students.
Higher education segment to record the fastest growth rate during the forecast period
Tablet computing, gamification, learning analytics, 3D printing, and wearable technical gadgets, such as small motion sensors, fitness trackers, and smartwatches have changed the vision of higher education and its operations. Education technology has completely revolutionized higher education, helping the segment to overcome all the traditional barriers that were imposed by space and time. Apart from this technical demand, there are many universities, which are themselves facing new challenges related to equipping the students with adequate higher education. University students are provided with advanced education technologies and knowledge so that when required, students can leverage this technology even when they are on the campus premises.
North America to account for the largest market share during the forecast period
North America plays a huge role in the development of technologies, which helps in the adoption of new EdTech solutions across major end user segments. A significant increase in the number of mobile learning applications has been witnessed in the region. According to an article published by Edweek Market Brief in February 2019, spending on educational technology to date exhibits to be more than USD 13.0 billion in the US alone. The North America Education Technology (EdTech) market is growing significantly with abundant investments. In 2017, investments in EdTech products were more than USD 9.5 billion. This market has also brought in many programs that are designed to help with elementary math and English skills. Various students and educators in the region are adopting mobile apps, allowing them to access information at any time and any place.
A large number of organizations in North America are adopting learning technologies that are not limited to internal training purposes. Learning technologies, such as ones provided by Docebo, should become a part of the larger spectrum of systems and be able to integrate seamlessly with different IT legacy systems, such as ERP, Customer Relationship Management (CRM), and video conferencing tools. North America is expected to integrate EdTech solutions as it enables users to increase the collaboration and connections in the learning environment. The North American adoption and market share is significantly higher as compared to other regions, as enterprises here are more receptive to the implementation of such solutions.
Market Dynamics
Drivers
- Proliferation of Connected Devices in the Education Sector
- Growing Adoption of Elearning Solutions
- Growing Use of AI and Ml in Smart Learning
Restraints
- Increasing Cyberattacks on Educational Institutes and Enterprises to Raise Data Security and Privacy Concerns
Opportunities
- Potential Growth Opportunities for System Integrators
- Increasing Spending on the Education Sector
Challenges
- High Cost of Producing Elearning Content
- Inability to Manage Real-Time and Unstructured Data
Companies Profiled
- Apple
- Cisco
- Blackboard
- IBM
- Dell EMC
- Microsoft
- Oracle
- SAP
- Instructure
- 2U Inc
- Ellucian
- Campus Management
- Lenovo
- Smart Technologies
- Cornerstone Ondemand
- D2L
- Workday
- Discovery Communication
- Promethene
- Byju's
- Yuanfudao
- Vipkid
- 17Zuoye
- Udemy
- Udacity
- Age of Learning
- Coursera
- Brightbytes
For more information about this report visit https://www.researchandmarkets.com/r/gfanyo