The global EdTech and smart classroom market size is expected to grow from USD 85.8 billion in 2020 to USD 181.3 billion 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 increasing penetration of mobile devices and easy availablitiy of inetrent , and growing demand for online teacing-learning models , impact of COVID-19 pandemic and growing need for EdTech solutions to keep education system running.
Interactive Displays segment to hold the largest market size during the forecast period
The interactive display is a hardware device that opens up content, predominantly technological content, and inspires a level of interactivity that is challenging to attain with conventional textbook-based learning. The presence of an interactive display can impact learning in several ways as it serves to raise the level of learner engagement, inspires students, and encourages enthusiasm for learning. Interactive displays are progressively being seen as a vital requirement for teaching in K-12, higher education, and corporate organizations. These displays are innovative, new generation hardware using wireless technologies. Interactive displays are entirely technology-enabled and are widely used in an advanced and mature market. This hardware has been widely used globally since it allows organizations to process and present data in an effective manner. Interactive displays are used to display content, such as images, videos, and video calls. The education sector is the most primitive adopter of interactive displays influenced by encouraging responses from trainers, students, and teachers.
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Cloud deployment type to record the fastest growth rate during the forecast period
In the cloud-deployed EdTech, solutions are hosted over the internet connection, and users can log into the service provider’s site. Teachers or trainers can upload course content, create new courses, and interact with learners via their internet browsers to refrain from the installation of the required management software. Instructional designers can store any information on the cloud, and this can be remotely accessed by approved users in any location. This deployment type is preferred for its features, such as better and enhanced security, lower setup costs, easy accessibility, quicker deployment, highly scalable, customizable, enhanced storage space, ease of maintenance, automatic upgrade of course materials, and automatic licensing done by vendors. In this type, learning is delivered to the learner, anywhere and anytime via the browser.
Major EdTech and smart classroom vendors include Apple (US), Cisco (US), Blackboard (US), IBM (US), Dell EMC (US),Google (US), Microsoft (US), Oracle(US),SAP (Germany), Instructure(US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the EdTech and smart classroom market. Product enhancements and collaborations have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
A prominent player in the EdTech and smart classroom market, Cisco focuses on inorganic growth strategies such as partnerships, collaborations, and acquisitions. For instance, in April 2020, Cisco partnered with IBM to support distance learning in UK, Spain, and Romania; and in October 2019, Cisco signed a MoU with the Directorate General of Training (DGT) of the Government of India’s Ministry of Skill Development and Entrepreneurship to offer the benefits of digital technology to National Skill Training Institutes (NSTIs).
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IBM has a strong presence in the EdTech and smart classroom market as it caters to the maximum number of academic institutions that rely on the IBM Watson platform. The company is one of the major players in the EdTech industry, as it develops and innovate EdTech solutions. IBM has developed solutions as a part of its IBM Watson offering, which includes capabilities of the self-learning technology. IBM’s Kenexa LMS platform helps academic institutions reduce cost and investigation time by applying advanced analytics, Natural Language Processing (NLP), ML, and Robotic Process Automation (RPA) to improve efficiency.
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