EdTech and Smart Classroom Market to Record Optimum Gains worth USD 210.3 Billion by 2026 - Zion Market Research

NEW YORK, Sept. 16, 2021 /PRNewswire/ -- As per the latest research study of Zion Market Research, EdTech and Smart Classroom industry accumulated proceeds about US$ 73.9 billion in 2020 and is slated to earn revenue of approximately US$ 210.3 billion by 2026. The EdTech and Smart Classroom market is set to register CAGR of approximately 15.8% in 2020-2026. In addition to this, surging use of mobile & smartphones and easy access to internet even in remote areas will drive market trends. In addition to this, humungous demand for EdTech solutions along with surge in online teaching with COVID-19 outbreak will drive EdTech and Smart Classroom industry landscape. Apparently, growing significance of holistic learning in educational institutions and universities has contributed to massive funding of these activities, thereby driving growth of EdTech and Smart Classroom Industry in recent years.

Increase in restrictions imposed due to COVID-19 pandemic along with easy access to high-speed internet along with massive utilization of mobile equipment in distant places along with availability of robust network infrastructure facility across globe will prompt EdTech and Smart Classroom Market size in years ahead. Additionally, technological breakthroughs in education sector have led to rise in e-learning activities and this has culminated into huge market demand. Furthermore, launching of new online learning models by reputed educational institutions and universities across globe will proliferate expansion of EdTech and Smart Classroom Industry in years ahead.

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Moreover, strict government norms pertaining to maintaining of social distancing will prompt expansion of EdTech and Smart Classroom market during assessment timeline. Online learning apps are gaining huge demand and this has further promulgated growth of EdTech and Smart Classroom Industry over assessment timeline. Apart from this, many forms of EdTech including e-textbooks, communication tools, and curriculum management software have gained wide acceptance in e-learning industry and this will translate into huge growth of EdTech and Smart Classroom Industry over upcoming years. In addition to this, various telecom firms and regional governments have ensured that students falling in low-income group slabs can also attend online classes. Citing an instance, in 2020, Telkomsel – a wireless telecommunication service provider based in Indonesia- supplied near about 5,00,000 equipment to students and provided 30GB free data per month for users of K-12 learning application known as Ruangguru. Apart from this, in same year, Starhub -a reputed service provider in telecom business based in Singapore - offered broadband subscriptions to students belonging to families having low-income. In addition to this, Ministry of Education of Singapore provided nearly over three thousand mobile equipment to students falling under low-income groups.