With continual entry of new participants, the business landscape of the global smart classrooms market has surfaced as fragmented and highly competitive, notes a new study by Transparency Market Research (TMR). The degree of competition in this market is likely to remain high, as there in no slowing down in the entry-rate of new players over the next few years. Some of the leading players in this market are Microsoft Corp., Apple Inc., Dell Inc., Fujitsu Ltd., IBM Corp., Cisco Systems Inc., HP, Panasonic Corp., Toshiba Corp., and Samsung Electronics Co. Ltd., states the research report.
According to the estimations of TMR analysts, the overall valuation of the global market for smart classrooms is likely to rise at an exceptional CAGR of 9.10% over the period of 2017–2022, with its opportunity increasing from US$50.50 bn by 2017 end to US$78.1 bn by the end of the period of forecast. Projectors have emerged as the most important component of smart classrooms across the world. Researchers expect this trend to remain so over the forthcoming years.
Geographically, the worldwide market for smart classrooms is spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these, North America has emerged as the leading contributor to the global market. Expanding at a CAGR of 8.90% over the period from 2017 to 2022, the market for smart classrooms in North America is anticipated to continue on the top spot in the near future.
Technological Advancements to Boost Market’s Growth
“The increasing participation of the education sector in the development of smart classrooms is the main factor driving the global market for smart classrooms,” says a TMR analyst. The significant rise in the penetration of the Internet, especially in emerging economies, is boosting the uptake of smart classrooms across the world, resulting in the significant growth of this market.
Over the coming years, technological advancements are expected to drive the growth of this market substantially. The considerable increase in research and development activities is also projected to propel this market in the years to come, reports the study.
Absence of Advanced IT Infrastructure to Hold the Market Back
On the flip side, the absence of advanced IT infrastructure in emerging economies is holding the global smart classroom market back from growing smoothly. Apart from this, the maturation of many developed market, owing to the presence of established companies in the technology sector working actively to establish their presence in the education sector, is also expected to hamper the growth of this market in the years to come, states the research study.
The review is based on a report by Transparency Market Research, titled “Smart Classroom Market (Component - Interactive Whiteboards and Displays, Projectors, Learning Management Software, Student Response Software, Classroom Management and Assessment Software, Support Services; Application - Educational Gaming, Educational Security, Educational ERP; End Use - Kindergarten, K-12, Higher Education) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
The global smart classrooms market is segmented into:
- Interactive Whiteboards and Displays
- Learning Management Software
- Student Response Software
- Classroom Management and Assessment Software
- Support Services
- Educational Gaming
- Educational Security
- Educational ERP
By End User
- Higher Education
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
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