Smart Classroom Market – Snapshot
Smart classrooms are technologically advanced classrooms that provide opportunities for smart learning and teaching by integrating advanced solutions and products, such as specialized learning and teaching software, assistive listening devices, student response management solutions, etc. Rapid developments in the field of IT and communication are opening up cost-effective and simpler ways to deliver education. Moreover, advanced technologies such as Artificial Intelligence and cloud computing has introduced new avenues for educational institutions to teach and engage their students. Rising smart city initiatives by governments is also compelling educational institutes to adopt digital solutions to provide enhanced education to students.
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The global smart classroom market is expected to expand at a CAGR of 8.5 % during the forecast period 2018-2026. The market is expected to reach 109,660.3 Mn in 2026. The smart classroom market is primarily driven by government initiatives to offer digital education to students. Governments of several countries are increasingly engaging in providing digital education in schools and other educational institutions. Besides providing broadband facilities, governments are also encouraging educational institutions to offer e-learning courses. For instance, FutureSchools@Singapore, an initiative by the government of Singapore, provides high-end technology and digital content to schools of Singapore. Furthermore, as per the 2018 budget, the government of Singapore plans to spend about US$ 12.8 Bn in 2018 on the education sector in order to provide better quality education to students. Thus, rise in investments in the education sector and increase in number of government initiatives supporting digital education are some of the factors driving the smart classroom market globally.
The smart classroom market is segmented by component, end-use, and region. By component, the market has been segmented into hardware, software, and services. Based on hardware, the market has been bifurcated into Interactive Whiteboard (IWB)/flat panel, digital display, smart projector, and others. Digital display segment and IWB/flat panel segment are expected to hold more than 50% of the total market share. Smart projector segment is further divided into ultra-short throw projectors, short throw projectors, and standard throw projectors. On the basis of software, the global smart classroom market is segmented into learning management software, student response software, classroom management & assessment software, distance learning software, and others. Learning management software segment is expected to have higher adoption rate among end-users during the forecast period. Services segment is further bifurcated into professional services and managed/outsourced services. Based on end-use, the market has been segmented into early education, K-12 education, higher education, language education, and vocational education. Revenue data is estimated for all the above mentioned segments.
The smart classroom market is also bifurcated on the basis of various regions into North America, Europe, South America, Middle East & Africa, and Asia Pacific. North America is projected to hold the dominant share in the global smart classroom market during the forecast period.This is majorly due to presence of leading players in this region. Middle East & Africa and South America are witnessing limited adoption of smart classrooms as compared to other regions. However, growing investments of governments to offer smart education is expected to offer healthy growth to the market during the long term forecast period.
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Companies are majorly focusing on increasing their customer base by providing services in untapped markets. Governments that have stringent policies and regulations regarding digital educationare helping the market players by providing them an opportunity to offer their products and solutions. This in turn will strengthen the market share globally.Trend of leading players acquiring technology start-ups is also seen in the market. Merger and acquisition strategy will help companies to enhance their customer base and generate new revenue streams. The global smart classroom market comprises large number of multinational companies providing a range of comprehensive services and solutions to end-users. These companies include Samsung Electronics Co. Ltd, Microsoft Corporation, Dell Inc., Fujitsu Ltd, and IBM Corporation.
