The EdTech and smart classroom market in North America is expected to grow from US$ 27,978. 8 million in 2019 to US$ 88,791. 8 million by 2027; it is estimated to grow at a CAGR of 15. 5% from 2020 to 2027.
New York, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America EdTech and Smart Classroom Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component, Deployment Type, and End-User" - https://www.reportlinker.com/p06004206/?utm_source=GNW
The popularity of cloud computing and cloud-based solutions is growing in various industries owing to their potential to accelerate the development and adoption of solutions and services enabled with innovative technologies for enhanced user experience and improved operational productivity.Cloud-based software solutions offer easy scalability and high operational flexibility to education companies and institutions while reducing their overall costs and operational risks.
In addition to this, the ever-evolving cloud architecture and system algorithms, easy accessibility, and advanced feature integration are fueling the adoption of these solutions in various sectors, including the education sector.Cloud deployment is an attractive option for organizations of all sizes owing to their benefits such as option for the payment on use basis and possibility of regular data backup; and high-security functioning, lower capital requirements and operations costs, and instant provisioning features.
Hence, the high scalability, enhanced security, improved operational flexibility, easy deployment, accessibility, and affordability are among the major benefits of cloud-based EdTech and smart classroom solutions that are fueling the adoption of these solutions among education organizations. With increasing number of companies, such as Citrix Systems, Inc., IBM Corporation, Microsoft Corporation, and Oracle, offering cloud-based solutions for education sector, the demand for these solutions over on-premises solutions is anticipated to grow at an impressive rate from 2020 to 2027. Digital advancements in the education sector is among the other factors expected boosting the demand for EdTech and smart classroom market in North America.
In terms of component, the hardware segment led the North America EdTech and smart classroom market in 2019.Hardware is a broad category of components including projectors; sensors; recognition systems; interactive displays; interactive whiteboards; tablets; printers; notebooks; and e-book readers such as kindle, smartphones, and audio equipment.
The hardware components are integrated with advanced technologies such as Big Data, cloud computing, and the Internet of Things (IoT).Interactive displays are advanced new-generation hardware incorporated with wireless technologies.
These displays are highly adopted by the education sector, influenced by encouraging responses from teachers and students. Other digital displays can also be linked to the tech infrastructure of seminar rooms to provide greater opportunities to students to work together.
The K-12 education institutions and higher education programs, among others, are swiftly integrating advanced technologies.Further, companies in the North America EdTech and smart classroom market are contributing to the evolution of the learning models through integrated smart classroom hardware; they offer robust products to the schools and top universities, and help them develop successful online programs.
For instance, SMART Technologies ULC, a Canada-based company, offers SMART Board interactive displays designed to aid teaching approaches that positively affect overall learning.
Presently, North America is the largest market for EdTech and smart classroom products, in terms of revenue share.The region is characterized by the presence of developed nations such as US and Canada, where the demand of education technology solutions and services is high owing to the huge presence of EdTech companies, smart device manufacturers, and cloud service providers; and high adoption of advanced technologies among schools and educational institutions.
The education technology industry has been flourishing at an impressive pace in the US due to high adoption among end users, and surging investments and funding in EdTech startups.However, as per latest WHO reports, the US is the worst-affected North American country by COVID-19 outbreak, in terms of confirmed cases and number of deaths.
Amid lockdown and shutdown of schools in major North American countries, a mounting number of schools and universities continue to adopt distance learning through virtual classrooms, and online exams and assessment tools. Hence, the COVID 19 outbreak has been boosting the growth of businesses such as video conferencing, digital content consumption, virtual classrooms, and education technology companies.
The overall North America EdTech and smart classroom market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America EdTech and smart classroom market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America EdTech and smart classroom market. Apple Inc.; Blackboard Inc.; Cisco Systems, Inc.; D2L Corporation; IBM Corporation; Lenovo Group Limited; Microsoft Corporation; Oracle Corporation; SAP SE; SMART Technologies are among a few players operating in the market in this region.
Read the full report: https://www.reportlinker.com/p06004206/?utm_source=GNW
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