The global edtech and smart classroom market size was valued at USD 88.82 billion in 2021. The market is projected to grow from USD 101.64 billion in 2022 to USD 319.65 billion by 2029, exhibiting a CAGR of 17.8% during the forecast period.
List of the Key Companies Profiled:
• SAP SE (Germany)
• Apple Inc. (U.S.)
• IBM Corporation (U.S.)
• Alphabet Inc. (U.S.)
• Cisco Systems Inc. (U.S.)
• Amazon.com Inc. (U.S.)
• Microsoft Corporation (U.S.)
• SMART Technologies ULC (Canada)
• Dell Inc. (U.S.)
• Fujitsu Limited (Japan)
Drivers and Restraints
Buoyant Investments in Education Sector to Foster Growth Potentials
Stakeholders expect the edtech and smart classroom market share to gain considerable traction owing to the reduced cost of online learning material and rising investments in the education sector. Exponential growth in mobile penetration, along with a reduced cost of internet data, is poised to boot the investment portfolio. Investments in digital learning platforms will encourage leading companies to bolster their footprint across untapped areas. Prominently, steady demand for distance learning platforms will bode well for the business forecast. That said, soaring infrastructure costs and a potential shortage of technical skills could act as a bottleneck over the next few years.
Driver: Increasing Rate of Recovery of Financial Losses to Stimulate Market Growth
The increase in rate of recovery of financial losses is anticipated to augment the growth of the edtech and smart classroom market within the estimated period. edtech and smart classroom market helps all the organizations and enterprises mitigate losses from a variety of incidents that take place every day, from a data breach involving sensitive customer information to network damage and disruption.
Though does not protect any organization against the hack itself, but it does offer help before, during and after an attack. Further, it also helps with the costs associated with remediation, including payment for the legal assistance, crisis communicators, investigators, and customer credits or refunds. However, the lack of awareness related to edtech and smart classroom market Moreover, the increasing adoption of artificial intelligence and block chain technology for risk analytics is further anticipated to support the growth in the years to come.