The global smart classroom market is currently in a nascent stage and is poised to rise impressively in the next couple of years. This coupled with reduced entry barriers because of the lesser amount of initial capital required, has drawn many new players into the domain of e-learning market. As a result, the global smart classroom market is both fragmented and competitive. Going forward, the competition in the global smart classroom market is predicted to rise even further with players foraying into the e-learning space.
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Meanwhile, some of the companies that have managed to gain a stronghold in such a cutthroat e-learning market are IBM Corp., Microsoft Corp., Apple Inc., Fujitsu Ltd., Panasonic Corp., Dell Inc., and Cisco Systems Inc.
As per Transparency Market Research, the global smart classroom market would likely rise at a robust CAGR of 9.1% over the course of the forecast period starting from 2017 and ending in 2022. At this pace, the market which was valued at US$50.5 bn by 2017-end would reach a value of US$78.1 bn by 2022-end.
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Depending upon components, the global smart classroom market has been classified into projectors, interactive whiteboards and displays, student repose software, learning management software, support services, and classroom management and assessment software. Among these, the projectors are currently seeing most of the demand in the market owing to their usage in wide-ranging educational applications. The TMR report projects the projectors segment in the global e-learning market to attain a value of US$20.7 bn by the end of 2022. From a geographical standpoint, the report finds that North America is the leading region in the global smart classroom market. The market in the region is predicted to rise at 8.9% CAGR between 2017 and 2022 to retain its dominant position in the near future as well.
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Thrust on Novel Teaching Methods Results in Demand
At the forefront of driving the global smart classroom market is the increasing thrust on developing novel methods to teach more effectively. Besides, the continued thrust on further improving the underpinning technologies and components is also positively influencing the global e-learning market. Apart from that, the developing internet network, especially in emerging economies is also having a positive impact on the market. Adds the lead analyst of the report, “The growing number of mobile learning applications and rising inclination towards digital learning is mainly fueling the education technology and smart classroom market worldwide.”