According to a new market research report published by Credence Research “Smart Classroom Market ((Type- Hardware, Software), (Application- K-12, Higher Education, Language Education, Vocational Education, Early Education)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall smart classroom market worldwide was valued at USD 60 Bn in 2018 and is set to grow with a CAGR of 18% during the forecast period.
The education technology market is booming and has witnessed many inventions over the past few years. Over the time smart classrooms have been enhanced with advanced technologies and learning aids which has led to a revolution in whole teaching and learning process. Further, a smart classroom combines traditional teaching and smart technology to assist instructors impart knowledge. Emphasis on new trends and creation new opportunities for education providers and learners has driven the growth of smart classrooms market. As a result of aforementioned factors, we expect that the smart classroom market will show tremendous growth during the forecast period.
Based on application, the smart classroom market is led by hardware segment. The hardware segment has more than 3/5th of the revenue share in the same year. The segment has highest growth owing to tremendous technological advancement, demand for affordable and easily available smart equipment. The increased utility offered to students through touch screen and other interactive methods has played a vital role in increased sales for hardware in smart classroom market. Further, due to tremendous growth awareness for a change in primitive method of imparting education we expect that the segment will continue its dominance during the forecast period.
Based on the geography, North America dominates the smart classroom market in 2018 and accounting for around 45% of the market share in the same year. The region is a manufacturing hub for smartphones, software development and technologically advanced and thus dominates the smart classroom market. Asia-Pacific is expected to grow its market share during the forecast period. Owing to increased internet penetration and affordable smart equipment, Asia Pacific will be the major growth contributor for the market. Thus, we expect that North America will continue its dominance position succeeded by Asia Pacific in the smart classroom market during the forecast period 2019-2027.
Some of the major companies profiled in the report include Akamai Technologies, Inc., Juniper Networks Inc., Flash Networks Inc., Huawei Technologies Co. Ltd, Riverbed Technologies Inc., Qualcomm Inc., Mobidia Technology Inc., Ascom Holding AG, RapidValue IT Services Private Limited, IBM corporation, CITRIX SYSTEMS, INC., F5 NETWORKS, INC. among others.
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