Global Smart Classroom Market Expected to Reach US$ 109,660.3 Mn by 2026
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.
Surge in Student Mobility Driving the Market
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.
Global Smart Classroom Market: Competitive Dynamics
Partnership and acquisitions are some of the prominent strategies adopted by smart classroom players in order to sustain in the market or strengthen their presence. Companies are also focusing on providing customized solutions to customers at unique pricing. Furthermore, the players are concentrating on signing long term contracts with educational institutes which would help them to generate continuous revenue from the customers over the years. Some of the key players operating in the smart classroom market are Samsung Electronics Co. Ltd, Microsoft Corporation, Dell Inc., Fujitsu Ltd, IBM Corporation, and others.
Market Segmentation: Global Smart Classroom Market
- Early Education
- K-12 Education
- Higher Education
- Language Education
- Vocational Education