According
to a new market report published by Transparency Market Research, the
global smart classroom market was valued at US$ 49,173.1 Mn in 2016
and is expected to expand at a CAGR of 8.5% from 2018 to 2026,
reaching US$ 109,660.3 Mn by the end of the forecast period.
According to the report, the global
smart classroom market will
continue to be influenced by a range of macroeconomic and
industry-specific factors. Asia Pacific will continue to be at the
forefront of global demand, with the market in the region growing at
a CAGR of about 9.0% throughout the forecast period.
The global smart classroom market
is majorly driven due to rising student mobility globally, which
refers to the rate of students that leave their home countries to
pursue education in other countries. This trend is majorly seen in
Asia Pacific. According to the Organisation for Economic Cooperation
and Development (OECD), more than 5 million students left their home
countries in pursuit of higher education in 2015. In 2016, Malaysia
had about 172,886 international students studying in higher education
institutions, international and private schools, and other language
centers. The Government of Malaysia has announced plans to attract
about 250,000 international students under its initiative Malaysia
Education Blueprint 2015-2025 (Higher Education) by 2025.
The Philippines follows a similar
trend. Enrolment of foreign students in the education system in the
Philippines has been increasing steadily. According to the Bureau of
Immigration statistics, around 7700 international students were
studying in the country in 2011. The number increased to 26,000 in
2013, 61,000 in 2014, and to 210,000 in 2016. Rise in inbound
mobility is helping economies gauge the right talent to improve
economic development. Thus, education institutions are encouraged to
adopt smart school solutions to enhance education offerings and
attract international students, thus boosting the smart classroom
market.
The smart classroom market is
segmented by component, end-use, and industry. By component, the
market has been segmented into hardware, software, and services.
Based on hardware, the market has been bifurcated into Interactive
Whiteboard (IWB), digital display, smart projector, and others. 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. 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.
In terms of region, North America
is expected to have the dominant share in the smart classroom market
over the forecast period due to extensive investment done by regional
governments and prominent players across the region
undertakingtechnological development in the education industry.
Europe is the second largest shareholder in the global smart
classroom market. Constant rise in number of educational institutes
in the region is expected to drive the market. Furthermore, presence
of leading players in the region is also one of the factors driving
the market in Europe.The market in Asia Pacific is expected to grow
with the highest CAGR during the forecast period. This is majorly due
to rising number of enrollments in the developing countries of this
region. Increasing student enrollments is compelling educational
institutes to undertake smart learning solutions to provide better
educational facilities, thus driving the smart classroom market in
the region.
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