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Valued to be $207.3 Billion by 2026, Education Technology (Ed Tech) and Smart Classrooms Slated for Robust Growth Worldwide

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SAN FRANCISCO, Jan. 4, 2022 /PRNewswire/ — A brand new market research printed by Global Industry Analysts Inc., (GIA) the premier market analysis firm, right this moment launched its report titled “Education Technology (Ed Tech) and Smart Classrooms – Global Market Trajectory & Analytics”. The report presents recent views on alternatives and challenges in a considerably remodeled publish COVID-19 market.

Education Technology (Ed Tech) and Smart Classrooms

FACTS AT A GLANCE
Edition: 8; Released: December 2021
Executive Pool: 15346
Companies: 326 – Players coated embrace Apple, Inc.; Blackboard, Inc.; Cisco Systems, Inc.; Dell EMC; Discovery Communications, Inc.; DynaVox Mayer-Johnson; Fujitsu Ltd.; Hewlett Packard Enterprise Development LP (HPE); IBM Corporation; Jenzabar, Inc.; Lenovo Group Ltd.; Microsoft Corporation; Panasonic Corporation; Promethean, Inc.; Saba Software, Inc.; SMART Technologies ULC; Toshiba Corporation and Others.
Coverage: All main geographies and key segments
Segments: Component (Hardware, Content, Software); End-Use (Okay-12, Higher Education, Kindergarten)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Education Technology (Ed Tech) and Smart Classrooms Market to Reach US$207.3 Billion by the Year 2026
Education know-how or EdTech is collaborative connection between training and know-how (IT) for development of studying, training and educating. Education embedded with data know-how holds shiny prospects to tackle various necessities of scholars and current new alternatives for learners no matter geographical boundaries. The development within the Ed Tech and good classroom market is being pushed by a number of elements, together with rising demand for eLearning options, rising use of linked gadgets in training establishments, rising implementation of presidency schemes throughout a number of rising international locations for selling training, decrease developmental prices and expanded ease of use, rising demand for digital training, rising want to maintain training system working amid the pandemic, and rising adoption of machine studying (ML) and synthetic intelligence (AI) in good studying. Ongoing efforts by main EdTech gamers to present college students with on-line textbooks are lowering classroom prices and addressing scarcity of sources. Education curriculum is predicted to be considerably influenced by the facility of knowledge and associated insights, that are sure to affect EdTech. Data and related analytics are anticipated to present educators with insights into pupil conduct and interplay with the content material. In the approaching years, applied sciences, akin to digital actuality (VR) and augmented actuality (AR) are anticipated to witness higher implementation in school rooms as studying instruments. There are at the moment varied AR experiences and apps obtainable available in the market to assist college students study Okay-12 classes throughout a variety of matters, from historical past to science and arithmetic. Following a constant development within the latest years, the EdTech market boomed amid the COVID-19 pandemic, enabling enterprise capital funding to publish a powerful spike.

Amid the COVID-19 disaster, the worldwide market for Education Technology (Ed Tech) and Smart Classrooms estimated at US$84 Billion within the 12 months 2020, is projected to attain a revised measurement of US$207.3 Billion by 2026, rising at a CAGR of 16.3% over the evaluation interval. Hardware, one of many segments analyzed within the report, is projected to develop at a 14.7% CAGR to attain US$92.7 Billion by the top of the evaluation interval. After an intensive evaluation of the enterprise implications of the pandemic and its induced financial disaster, development within the Content section is readjusted to a revised 18.7% CAGR for the subsequent 7-year interval. This section at the moment accounts for a 37% share of the worldwide Education Technology (Ed Tech) and Smart Classrooms market. EdTech encompasses using {hardware} and software program for educating college students on the digital stage, with on-line means setting an ideal stage to enhance the training surroundings. Hardware enhancements and ubiquity of smartphones are key elements which might be anticipated to drive the adoption of VR in e-Learning on a wider scale.

The U.S. Market is Estimated at $29.4 Billion in 2021, While China is Forecast to Reach $43.5 Billion by 2026
The Education Technology (Ed Tech) and Smart Classrooms market within the U.S. is estimated at US$29.4 Billion within the 12 months 2021. The nation at the moment accounts for a 29.3% share within the world market. China, the world’s second largest economic system, is forecast to attain an estimated market measurement of US$43.5 Billion within the 12 months 2026 trailing a CAGR of 18.1% by the evaluation interval. Among the opposite noteworthy geographic markets are Japan and Canada, every forecast to develop at 13.5% and 15.5% respectively over the evaluation interval. Within Europe, Germany is forecast to develop at roughly 13.7% CAGR whereas Rest of European market (as outlined within the research) will attain US$24.7 Billion by the top of the evaluation interval. North America represents the most important regional market for Ed Tech and good school rooms, attributed to the sturdy presence of good machine producers, Ed Tech firms, and cloud service suppliers, coupled with elevated penetration of superior applied sciences throughout the area’s colleges and instructional establishments. The Asia-Pacific area is benefitting from rising focus of instructional establishments on digital options for pushing working effectivity. Countries akin to China, Indonesia, India and Malaysia are reporting excessive penetration of pupil data programs in Okay-12 Education for aiding college administration and offering related data to college students.

Software Segment to Reach $39.8 Billion by 2026
EdTech software program permits academics to run pre-recorded or reside courses, enabling college students to entry these sources digitally from wherever. EdTech apps are enjoying an essential position in enabling educators to monitor pupil engagement and consideration by distant studying. Many greater training establishments have additionally been live-streaming their courses to a number of school rooms in addition to adopting studying administration system (LMS) software program options for the creation, distribution, and administration of instructional content material. Various gamers serving the training know-how market are providing higher programs, software program and {hardware} to enhance synchronous or asynchronous studying talents in classroom or residence settings. In the worldwide Software section, USA, Canada, Japan, China and Europe will drive the 14.2% CAGR estimated for this section. These regional markets accounting for a mixed market measurement of US$14.1 Billion within the 12 months 2020 will attain a projected measurement of US$36.7 Billion by the shut of the evaluation interval. China will stay among the many quickest rising on this cluster of regional markets. Led by international locations akin to Australia, India, and South Korea, the market in Asia-Pacific is forecast to attain US$4.9 Billion by the 12 months 2026. More

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