Education Technology Market Size, Share, Growth Analysis, By Sector(Preschool, K-12, Higher Education, Others), By End User(Consumer, Enterprise), By Type(Hardware, Software [Classroom Management System, Document Management System, Learning and Gamification), By Deployment(On-premises, Cloud), By Region - Industry Forecast 2024-2031

Education Technology Market Driver

• Due to the closure of educational institutes during the COVID-19 crisis, distance learning became one of the most prominent trends in the edtech and smart classroom industry. The pandemic has significantly changed how information is taught and learned. Learners are shifting to digital learning concepts via digital platforms as a result of social distancing norms. Despite the reopening of some educational institutions, the trend of distance learning may continue until 2021. As a result, there is a growing demand for online educational platforms. Distance learning can take the form of a slide-based online activity or an online course that assists learners in learning necessary skills.
• Education technology and the smart classroom market have undergone significant transformations in recent years, owing to the widespread adoption of mobile technology and increased education spending.
• Increasing mobile penetration and the low cost of e-learning material are seen as game changers in driving the education industry's growth. Europe, the United States, and the Commonwealth of Independent States have the highest rates of mobile and internet penetration. However, significant growth is expected from emerging markets, with mobile as a necessary device for knowledge acquisition. As a result, this Education Technology Market is expected to grow rapidly over the forecast year.

Education Technology Market Restraint

• Smart classroom infrastructure requires gadgets, such as computers, projectors, tablets, various advanced software, etc., which is expensive. With the advancement of technology, hardware and software requirements are constantly changing. Furthermore, to keep up with the advancement and changes in software, educational institutions may need to hire a tech professional, which is an additional cost that institutes must incur. These extra costs are likely to hinder the adoption of smart classroom solutions and can affect the Ed-Tech Sector.