There have been a very few reforms in the education sectors in the last few decades. This is mainly because there are only a fewer number of private players investing towards the enhancement of the education sectors. However, recently there has been rise among the consumer regarding the effect on smart learning on the development of child’s brain. This is a prominent factors expected to drive the global smart classroom market.
Due to this, consumer pool for smart classroom is increasing a prominent pace, this is prompting several players to invest in the smart classrooms. Significant rise in number of investors is another strong factor expected to drive the global smart classroom market.
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.
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Other than this, we have mentioned several other factors which are expected to play a vital role in the growth of the global market, have a look-
- Ease and comfort of learning offered by smart classrooms to the children, rise in disposable income, advent of digitalization in the education sector are some of the prominent factors expected to drive the global smart classroom market in the coming few years.
- However, factors like high investments required to set up smart classrooms, limited affordability of consumers in emerging economies, high maintenance costs and unavailability of skilled trainers are some of the strong factors that are expected to impede the growth of the global smart classroom market in the coming few years.
- Nevertheless, flexibility offered by the smart classroom to the students is another vital growth factor in the smart classroom market. This is because unlike traditional methods, smart classrooms methods are not bounded by number of hours, location and attendance. Hence, the increase in demand for smart classrooms is expected to fuel the market growth in the near future.
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The 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.
