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Educational Equipment and Software: Global Markets
LONDON, Sept. 25, 2017 /PRNewswire/ -- The global market for educational hardware and software increased from $50.5 billion in 2016. This market is estimated to reach nearly $110.9 billion in 2022 from $57.7 billion in 2017 at a compound annual growth rate (CAGR) of 14.0% for 2017-2022.
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? Hardware segment of this market is expected to grow from $23.7 billion in 2017 to nearly $48.6 billion in 2022 at a CAGR of 15.4% from 2017 through 2022.
? Software segment of this market is expected to grow from nearly $16.5 billion in 2017 to $35.8 billion in 2022 at a CAGR of 16.8% from 2017 through 2022.
Chapter 1: Introduction
In the modern era, there have been considerable improvements in teaching methods. Students are being stimulated to think more and ask more.
With the advent of the internet, there have been drastic changes in the education sector. Smart education has acquired significance in the recent times and has made possible many things that were impossible years ago, particularly regarding aspects of education involving the personal convenience of teachers and especially students.
Visual learning using smart technologies serves the audience well through incorporating elements such as graphs, images, charts, and presentations that are not easily conveyed by classroom notes or text. Visualization allows students to use their imaginations, which develops their interest and motivates them to learn more.
Smart learning uses smart boards that are capable of doing many things. This technology requires the creation of transparent worksheets that are simply placed under a camera for viewing on a smart board. Computer monitors can also be displayed on smart boards.
Writing can be added to an image using a highlighter tool, and the hand can be used as a mouse to control the projected screen without returning to the computer.
Wall mounts can be used in conjunction with smart boards to facilitate smart learning while giving presentations or watching videos since they are moveable and students can easily approach them.
Smart education technology includes hardware (e.g., interactive white boards, interactive displays, interactive tables, student response systems, laptops, desktops, tablets, stylus pens, wireless slates, classroom wearables, wrist-worn equipment, head gear, projectors, sound systems, digital classroom (DC), and 3-D printers), software (e.g., learning management systems (LMS), learning content management systems (LCMS), adaptive learning platforms (ALPs), and assessment systems) and content (e.g., audio-based, video-based and text).
Coupling education with technology is a sure road to success. In 2016, North America had the highest share of the educational equipment market at about 40.8%.
During the forecast period, the market for educational equipment is expected to grow by 14%, primarily driven by educational hardware, which accounts for over 40% of the market, followed by software and content, which, account for approximately 29% and 30% of the market, respectively.
This report includes a market analysis and forecasts related to the market for educational hardware and software. Along with providing an overview of the market, the report also highlights features of the market and their growth potential over the five-year forecast period.
Study Goals and Objectives
The goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global market for educational hardware and software in the academic sector. It also identifies significant revenue growth drivers in specific categories of the educational hardware and software market.
The objective of this kind of systematic research is to quantify the projected impact of both internal and external forces affecting the current educational hardware and software industry, as well as those that are anticipated to affect the industry for the next several years.
Reasons for Doing This Study
In recent years, the need to develop new teaching aids has necessitated the adoption of advanced technology in the learning process. Increased demand for cost-effective educational hardware and software in the academic sector is expected to boost the market in the near future, which would change the market's dynamics.
Scope of the Report
The scope of this report is broad and covers various types of educational hardware and software used in the academic sector. The market is broken down by major types of educational hardware and software as well as region. Revenue forecasts from 2017 to 2022 are given for each educational hardware and software segment and regional market, with estimated values derived from manufacturers' total revenues.
The report also includes a discussion of the major players across each regional educational hardware and software market. Further, it explains the major drivers and regional dynamics of the global educational hardware and software market and current trends within the industry.
The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global educational hardware and software market.
The findings and conclusions of this report are based on information gathered from both primary and secondary research sources.
The primary sources of information consist of industry association data and interviews conducted with educational hardware and software companies and distributors. Secondary sources were also consulted for the report, comprising industry journals and publications, product literature, white papers and technical journals, and financial reports from industry suppliers.
The base year for analysis and projection is 2016, and market projections were developed from 2017 to 2022. These projections are based on a consensus among the primary contacts combined with an understanding of the key market drivers and their impact from a historical and analytical perspective. All dollar projections presented in this report are in 2016 constant dollars.
This report is a descriptive study with a trend analysis of the global market for educational hardware and software in the academic sector using quantitative and qualitative approaches.
BCC Research collects data through various primary and secondary sources, including interviews with industry vendors, white papers, business journals, public financial proceedings, and historical market data from the internet. The market data is assessed and validated considering interrelated market attributes and the impact of global economic variables.
The value of the market is then obtained through a combination of the bottom-up and top-down approaches using exclusive market modeling tools to generate BCC Research's market data and forecasts. Estimated values used are based on manufacturers' total revenues.
In this report, the geographic regions considered for market analysis are:
? North America.
? From Greenland (Denmark) to Russia and from Norway to Greece.
? From Afghanistan to Japan and from Mongolia to New Zealand.
? South America.
? From Guatemala to Chile.
? Rest of the world (ROW).
? Middle East countries and African regions.
Chapter 2: Summary and Highlights
In contemporary times, the education sector does not make use of conventional teaching methods. Teaching, aided by digital technology, is revolutionizing the mode of education. Following the 'bring your own device' trend, schools and colleges allow students to take their own devices to classes, representing a shift from traditional school equipment towards digital technology.
The development of the education sector in the North American, European and Asia-Pacific regions is the major driver for the educational hardware and software market.
BCC Research projects that the global educational hardware and software market will grow from $57.7 billion in 2017 to more than $110.9 billion in 2022 at a five-year compound annual growth rate (CAGR) of 14.0%.
With advances in the digital education infrastructure, institutions are now keen on upgrading the learning environment by implementing smart education concepts to facilitate better collaboration and interaction.
Some of the driving factors of the smart education and learning sector are the increasing connectivity of handheld devices, increased collaboration between hardware vendors and educational content providers, increasing demand for e-learning in the academic sector, technological advancements, and increased government initiatives in the education sector.
Major players in the global educational hardware and software market by region are:
? North America
? Adobe Corp.
? Cisco Systems Inc.
? Intel House Technology.
? Promethean World.
? Saba Software.
? Scholastic Corporation.
? Smart Technologies.
? McGraw-Hill Education.
? Unit4 Education Solution
? Educomp Solution
? Hongen Education and Technology
? NIIT Limited
? Tata Interactive Systems
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