The Smart Classroom Market will be worth $71.5 billion in 2021, according to a recently published Future Market Insights report, and will grow at a CAGR of 7% from 2022 to 2032. By the end of 2032, the market is expected to be worth US$ 152.4 billion.
The education sector went online during the pandemic. Schools and universities began to offer lessons online and used e-Learning technology during the lockdown, which fueled industry growth.
Curriculum management software, e-textbooks, management platforms, and communication platforms are a few examples of educational technology that has increased its effectiveness. Furthermore, the price of educational technology devices and the internet data needed to use them has come down.
Virtual Learning Environments (VLEs), along with other advances in remote learning, are breaking down physical barriers to education, expanding its reach beyond the walls of institutional facilities. VLEs are used for more than just delivering lessons via online platforms.
Full-fledged assessments, projects, exams, progress records, rapid feedback, and other features are also available. Parents can receive daily reports on their child’s development via email, text messaging, or other methods, while children and teachers can customize their profiles on these portals.
Even on school grounds, technology-driven smart classrooms with active, sophisticated audio-visual learning may improve students’ learning experiences. Furthermore, the use of AI and insights may assist teachers in better monitoring their students, providing an accurate picture of each student’s strengths and limitations.
Key Takeaways from the Market Study
- The global smart classroom market is expected to reach US$ 152.4 billion by 2022.
- The K-12 education segment is expected to account for the highest CAGR of 7.3% during the forecast period in terms of end-use.
- The Hardware segment is expected to account for the highest CAGR of 7.1% during the forecast period.
- The United States is expected to remain the dominant market, with a US$ 17.6 billion absolute dollar growth opportunity between 2022 and 2032.
- During the forecast period of 2022-2032, India’s market is expected to grow at the fastest rate of 7.4%.
“During the forecast period, the rise of K-12 Education in terms of end-use can become a key driver in increasing the Smart Classroom market revenue,” a Future Market Insights analyst says.
More Details Are Available
Future Market Insights presents an unbiased analysis of the Smart Classroom Market in its new offering, presenting historical market data (2016-2021) and forecast statistics for the period 2022-2032.
The study reveals significant growth in the Smart Classroom Market by Component (Hardware, Software, Services), End-use (Early Education, K-12 Education, Higher Education, Language Education, Vocational Education), and Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa (MEA)