Edtech and Smart Classroom Market Size, Trends and Growth Analysis by 2027

In 2019, the edtech and smart classroom sector was valued at approximately US$ 75.24 billion, with projections indicating it could reach US$ 234.41 billion by 2027. This represents a compound annual growth rate (CAGR) of 15.3% from 2020 to 2027.

The COVID-19 pandemic has significantly accelerated the adoption of educational technology solutions across schools, colleges, and universities. Since March 2020, the temporary halt of in-person classroom instruction and the ongoing uncertainty regarding reopening timelines in major regions like North America, Europe, and Asia-Pacific (APAC) have contributed to this trend. Consequently, the edtech and smart classroom market has seen a year-on-year growth increase in 2020, and it is anticipated to maintain a robust CAGR throughout the forecast period.

Online education has become a fundamental aspect of effective teaching and learning practices globally. EdTech and smart classroom technologies are instrumental in improving the quality of educational experiences. This sector encompasses online learning platforms, educational theories, and both computer and smartphone-based learning solutions. Various K-12 and higher education institutions have widely embraced these technologies to enhance student learning experiences. The edtech and smart classroom ecosystem comprises numerous hardware and software components, including projectors, interactive displays, smart boards, printers, and various management systems for learning and classrooms. Due to the limitations of computational power in a single computer, a distributed computing framework is essential for establishing a smart educational environment in schools and colleges, which in turn propels the growth of the EdTech and Smart Classroom market.

A significant trend in the edtech and smart classroom market is the increasing necessity for educational institutions to devise competitive strategies to adapt to market changes, alongside a growing emphasis on personalized learning. Additionally, the rising use of mobile devices such as laptops, smartphones, and tablets presents lucrative opportunities for market participants. However, challenges such as insufficient technical expertise and inadequate data storage infrastructure pose significant barriers to market expansion, particularly in many developing nations in Africa and South America (SAM). The United States stands out as a global leader in research and development related to edtech and smart classrooms.

The global edtech and smart classroom market is categorized based on components, deployment types, and end users. In terms of components, the market is divided into hardware, software, and services. The software segment further includes learning management systems, student information systems, classroom management systems, classroom assessment systems, and additional categories. Regarding deployment types, the market is classified into cloud-based, on-premise, and hybrid solutions. The end-user segmentation includes K-12 institutions and higher education establishments. Geographically, the edtech and smart classroom market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).

The overall size of the edtech and smart classroom market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aids in providing an overview and forecast for the edtech and smart classroom market across all segments. Additionally, numerous primary interviews have been conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this research include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the edtech and smart classroom domain. Notable global players in the EdTech and smart classroom market featured in this study include Apple Inc., Blackboard Inc., Cisco Systems, Inc., D2L Corporation, IBM Corporation, Lenovo Group Limited, Microsoft Corporation, Oracle Corporation, SAP SE, and SMART Technologies.