The EdTech and smart classroom market in Europe is expected to grow from US$ 20,571.2 million in 2019 to US$ 61,250.6 million by 2027; it is estimated to grow at a CAGR of 14.6% from 2020 to 2027.
Digital transformation has been transforming industries by encouraging the adoption of digital technologies, and smart and connected hardware, thereby increasing overall operational productivity and revenues of companies. Education is one of the key sectors where digitalization is rapidly evolving with the adoption of smart devices such as interactive displays, tablets, notebooks, and smartphones in classrooms and students’ lives. In addition to this, the growing digital content creation for the education sector, online/e-learning courses, online exams, virtual classrooms, edutainment, and digital textbooks are further boosting the growth of Europe EdTech and smart classroom market. The UK and France are the key countries where the trend of digitalized education has been growing at an impressive pace. The growing investments in EdTech startups that are integrating advanced technologies such as AR, VR, and AI in education solutions are further boosting the overall trend of digitalization in the education sector. Also, owing to the ongoing COVID-19 pandemic, the demand of e-learning and online classes has increased multifold with the shutdown of schools and colleges. The pandemic is anticipated to further push the adoption of various digital technologies in the education sector at a faster rate with more and more schools, universities, and educational institutes adopting distance learning and virtual classrooms for continued and uninterrupted education services to students. The acceptance of EdTech solutions is among other factors expected to positively influence the demand for EdTech and smart classroom market in Europe.
In terms of end user, the upto k-12 segment led the Europe EdTech and smart classroom market in 2019. Online education is booming due to the associated convenience and cost-effectiveness. Schools are increasingly launching virtual programs to reach wider student base and boost enrollments, offer learning opportunities for e-learning enthusiasts, and lower costs of education services. This rapid expansion has prompted K-12 institutes to increase online classes and courses. The advent of advanced technologies in the education sector has also improved the quality of learning and teaching in various countries. It has also transformed the conventional education practices. Amid the COVID-19 pandemic, the demand for EdTech and smart classroom solutions has increased rapidly due to the widespread acceptance for e-learning and online teaching in K12 institutes. Some schools have made tabs mandatory for pre-primary students. In April 2020, Blackboard introduced a remote learning solution named Blackboard Unite for K-12 institutes. It includes a learning management system, virtual classroom, mobile app, and accessibility tool to help the institutes with the best tools.
The presence of developed countries such as Germany, the UK, France, Italy, Norway, and Sweden, with huge education spending and high investments in EdTech startups, makes Europe one of the key markets for EdTech and smart classroom product providers. Also, the noticeable adoption of advanced technologies in various industries makes this region an ideal market for EdTech and smart classrooms. At present, Russia, the UK, Spain, Italy, Germany, Turkey, and France are a few of the major European countries affected by the COVID-19 outbreak. Governments of these countries have imposed lockdowns/movement restrictions and closed down the educational institutions to contain the outbreak. Despite the negative impact of COVID 19 outbreak on economies of these countries, the demand for EdTech and smart classroom solutions has seen an upward trend owing to increasing demand for e-learning, virtual classrooms, and other digital technology solutions for uninterrupted delivery of education to students across Europe. The sudden adjustments in education systems and processes in the wake of ongoing pandemic is pushing stakeholders to invest in modern technologies and adapt to the evolving technology landscape in the education sector.
The overall Europe EdTech and smart classroom market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe EdTech and smart classroom market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe EdTech and smart classroom market. Apple Inc.; Blackboard Inc.; Cisco Systems, Inc.; D2L Corporation; IBM Corporation; Microsoft Corporation; Oracle Corporation; SAP SE; SMART Technologies are among a few players operating in the market in this region.