Global EdTech and Smart Classrooms Markets, 2022-2027 - Growing Demand for Training, Presentation, and Meetings Among Corporates and Education Institutes
DUBLIN, Aug. 5, 2022 /PRNewswire/ -- The "Global EdTech and Smart Classrooms Market by Hardware (Interactive Displays, Interactive Projectors), Education System Solution (LMS, TMS, DMS, SRS, Test Preparation, Learning & Gamification), Deployment Type, End User and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The publisher forecasts the global EdTech and smart classrooms market to grow from USD 125.3 billion in 2022 to USD 232.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 13.2%
The major factors driving the growth of the EdTech and smart classrooms market include growing adoption of eLearning solutions, impact of COVID-19 pandemic and growing need for online teaching-learning models to continue education system in lockdown.
Student Response system segment to hold the largest CAGR during the forecast period
The student response system keeps the students engaged in the class and encourages them to participate actively in the learning process. It enables the teachers to conduct polls for students during or after the class. The students' feedback is given either through clickers or the software installed on their computers.
It empowers the students to track their progress reports and respond to the teachers when asked questions. Teachers can also assess the students in real time, either collectively or individually. During a lecture, instructors can use the Student Response System (SRS) to pose questions and collect student responses. Clickers, classroom response systems, personal response systems, and audience response systems are other names for student response systems.
Higher education segment to record the fastest growth rate during the forecast period
The Center for Immersive Experiences (CIE) at Penn State University exemplifies EdTech's potential in higher education. A variety of virtual and augmented reality experiences are constantly available for students to use as part of their academic studies and research projects.
Students can use technology such as 360 video recording, VR and AR headsets, collaborative spaces, and breakout rooms. The goal is to provide university students with access to technology that will disrupt and change the future, and faculty believe that students must have access to these tools now rather than later. The CIE has a lecture hall that can also be used as a VR room.
Students have access to VR workstations and Oculus Rift headsets. There are also smaller breakout rooms in the space. Through collaboration with unit partners, demonstrations are available.
North America to account for the largest market share during the forecast period
There are many organizations in North America who are adopting learning technologies that are no limited to internal training purposes. Learning technology is a catch-all term for communication, information, and technological tools that are used to improve learning, teaching, and assessment. Computer-based learning or multimedia materials may be used to supplement in-class activities.
Tutorials, simulations, productivity tools, communication tools (such as email), and other tools are examples of key categories of learning technology tools. Learning technology refers to a variety of digital tools and media that are used for teaching and learning. Learning technologies should help professors achieve their teaching and learning objectives.
Any learning technology should assist students in increasing their self-responsibility, acting as an extension of their individual and collaborative learning, and empowering students to participate in higher order learning in order to understand how knowledge is used outside of the classroom.
There is an active support from private foundations for edtech projects. As per the report 'COVID-19 Effects on the US Higher Education Campuses from Emergency Response to Planning for Future Student Mobility' by Institute of International Education; 96% of on campus events were cancelled, 91% of campus buildings and offices were closed and 82% international student travel was cancelled during this pandemic situation.
In April 2020, the CARES Act provides a USD 14.25 billion Higher Education Emergency Relief Fund (HEERF) for institutions of higher education, including emergency financial aid for students. As per the report of IBISWorld, there has been decline of 1.4% in colleges and universities industry in Canada. The number of international students in Canada is expected to reduce in 2020 as countries, such as China and South Korea, are impacted by COVID-19 from where majority of international students travel to Canada.
Some prominent players across all service types profiled in the EdTech and smart classrooms market study include Apple (US), Cisco (US), Blackboard (US), IBM (US), Dell EMC (US), Google (US), Microsoft (US), Oracle(US), SAP (Germany), Instructure(US).
COVID-19-Driven Market Dynamics
Case Study Analysis
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