GDPR Compliance

We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

Global Educational Tech Market Projected to Reach $187.9 Billion by 2029

Ednews staff ~ 10/27/2024
`` Comprehensive Report Highlights Key Segments , Growth Drivers , and Technology 's Role in Global Educational Tech Market '' BOSTON , Oct. 23 , 2024 /PRNewswire/ -- `` According to the latest BCC Research study on `` Educational Equipment and Software : Global Markets '' is expected to grow

"Comprehensive Report Highlights Key Segments, Growth Drivers, and Technology's Role in Global Educational Tech Market"

BOSTON, Oct. 23, 2024 /PRNewswire/ -- "According to the latest BCC Research study on "Educational Equipment and Software: Global Markets" is expected to grow from $105.4 billion in 2024 and is projected to reach $187.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12.2% during the forecast period of 2024 to 2029."

This report analyzes the global educational equipment and software market, highlighting current trends and providing a comprehensive market overview. The report segments the market by type and application, offering detailed revenue forecasts from 2024 through 2029, using 2023 as the base year. The geographic breakdown includes North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Spain, Rest of Europe), Asia-Pacific (Mainland China, Japan, South Korea, India, Rest of Asia-Pacific), and the Rest of the World (South America, Middle East, and Africa). It explores emerging technologies shaping the educational sector and provides insights into the competitive vendor landscape. The report concludes with detailed profiles of key players driving innovation and growth in the market.

This report is especially relevant to stakeholders in the educational equipment and software industry, offering a timely and in-depth analysis of a sector that is undergoing rapid transformation. Through detailed segmentation by type and application, it provides valuable insights for equipment manufacturers, software developers, content providers, and investors, helping them understand key market trends, identify growth opportunities, and navigate emerging challenges. As education continues to shift towards digital platforms and technology-driven solutions, staying informed about these dynamics is essential for making strategic decisions, fostering innovation, and maintaining a competitive edge. The report's focus on emerging technologies and the evolving vendor landscape ensures that stakeholders remain well-positioned to capitalize on future developments in this fast-moving market.

Please click here for more details on "The Global Educational Equipment and Software Report."

The following factors drive the global market for educational equipment and software:

Increasing integration of AI and ML in educational tools: AI and ML are revolutionizing education by personalizing learning and automating tasks. These technologies identify students' strengths and weaknesses, allowing for customized instruction and real-time feedback to improve outcomes.

Rise of gamification in education: Gamification incorporates game elements into learning, making it more engaging. Rewards, challenges, and interactive content motivate students, improving retention and fostering a deeper interest in learning.

Rapid rise of mobile learning: Mobile learning uses smartphones and tablets to provide flexible access to educational content. This trend supports continuous learning outside traditional classrooms, making education more accessible and convenient.

Growing impact of social-emotional learning (SEL) technologies on education: SEL technologies help students develop emotional intelligence and interpersonal skills, improving well-being and academic performance by addressing the holistic needs of learners.

Request a sample copy of the global educational equipment and software report.

Report Synopsis

Report Metrics

Details

Base year considered

2023

Forecast Period considered

2024-2029

Base year market size

$100.8 billion

Market size forecast  

$187.9 billion

Growth rate    

CAGR of 12.2% for the forecast period of 2024-2029

Segment Covered

Type, Application, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered

U.S., Canada, Mexico, U.K., Germany, Spain, France, China, Japan, South Korea, and India

Key Market Drivers

•  Increasing integration of AI and ML in educational tools.

•  Rise of gamification in education.

•  Rapid rise of mobile learning.

•  Growing impact of social-emotional learning (SEL) technologies on education.

Key Interesting Facts about global educational equipment and software:

  1. Hardware Dominates the Market:
  • The hardware segment leads the educational equipment and software market.
  • Projected to reach $76.1 billion by 2029 due to the high initial investments required for physical devices.

       2. Content as the Second-Largest Segment:

  • Content remains highly valued for its direct influence on teaching and learning.
  • It holds the second-largest market share after hardware.

      3.  Rapid Growth of Software:

  • Software is growing quickly, with a CAGR of 13.7%.
  • Growth driven by technological advancements, shift to cloud-based solutions, and increased use of SaaS models, Learning Management Systems (LMS), and Enterprise Resource Planning (ERP) systems.

      4.  Universities Leading the Market:

  • The university segment is the largest and is expected to surpass K-12 in market share.
  • This is due to the higher adoption of cloud-based solutions and advanced technologies in higher education.

      5.  Challenges in the K-12 Sector:

  • K-12 institutions face budget limitations, integration issues, and lower technology adoption among staff.
  • Additional challenges include high costs for platform administration, operational expenses, inadequate staffing for SaaS management, and reluctance to adopt new technologies.

The global educational equipment and software include in-depth data and analysis addressing the following important queries:

  1. What is the projected market size and growth rate of the global educational equipment and software market?
  • The global market for educational equipment and software was valued at $100.8 billion in 2023 and will reach $187.9 billion by 2029, growing at a CAGR of 12.2% from 2024 to 2029.

       2.  What are the key factors driving the growth of the global educational equipment and software market?

  • The key factors driving the growth of the global educational equipment and software market include increasing integration of artificial intelligence (AI) and machine learning (ML) in educational tools, a rise of gamification in education, and the mobile learning revolution.

      3.  By application, which segment will dominate the market by the end of 2029?

  • By the end of 2029, the universities segment will continue to dominate global educational equipment and software owing to the increased adoption of educational technology across various universities for higher education. Also, the higher market share, as universities tend to go for regular technological upgrades, is driven by the need to align with industry standards and prepare students for tech-centric careers.

      4.  Which region has the highest market share in the global educational equipment and software market?

  • The North American region is the leading revenue generator for the global educational equipment and software market. In 2023, it accounted for $39.0 billion in revenue, representing about 38.7% of the global total. Both North America and Europe are key markets, with significant growth potential driven by major industry players deriving substantial revenue from these regions, innovations in equipment and software, high internet penetration, widespread technology adoption in education, and substantial government investments to foster industry expansion. Moreover, the Asia-Pacific region has become the fastest-growing market for educational equipment and software on a global scale, fueled by favorable demographic trends and robust economic development.

Some of the Key Market Players Are:

  • 2U
  • ANTHOLOGY INC.
  • APPLE INC.
  • ARTICULATE GLOBAL LLC.
  • CISCO SYSTEMS INC.
  • CORNERSTONE
  • COURSERA INC.
  • D2L CORP.
  • DELL INC.
  • ECHO360
  • GOOGLE INC. (ALPHABET INC.)
  • HP DEVELOPMENT CO. L.P.
  • INSTRUCTURE INC.
  • INTEL CORP.
  • LENOVO
  • MICROSOFT
  • ORACLE
  • PEARSON

Browse More Related Reports

Cybersecurity: Technologies and Global Markets: This report provides a comprehensive overview of the global cybersecurity market, including base year data from 2023 and projected data spanning 2024 to 2029. It analyzes the market revenue, measured in billions of dollars, across key segments such as security type, solution type, deployment mode, organization size, and end-user industries. The report also offers a regional breakdown, covering North America, Europe, Asia-Pacific, and the Rest of the World. Additionally, it explores key trends and challenges driving market growth, with a focus on environmental, social, and corporate governance (ESG) developments, patents, emerging technologies, and startup funding. The competitive landscape is thoroughly examined, highlighting the profiles of major companies and innovative startups shaping the future of cybersecurity.

Robotics: Technologies and Global Markets: This report provides a detailed overview of the robotics market, focusing on its key components such as whole robots, robot parts, software, and materials. It examines various applications across industries like manufacturing, healthcare, defense, food processing, agriculture, and construction. The study analyzes market drivers, regional dynamics, and current industry trends, with a focus on North America, Europe, Asia-Pacific, and the Rest of the World. The report also includes detailed vendor profiles, base year data from 2023, and market projections through 2029, along with forecasts of the compound annual growth rate (CAGR) for the period.

Directly purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with [email protected].

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions free of noise and hype.

Contact UsCorporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USAEmail: [email protected],Phone: +1 781-489-7301For media inquiries, email [email protected] or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

Logo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg

SOURCE BCC Research LLC

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3

440k+Newsrooms &Influencers icon1

9k+Digital MediaOutlets icon2

270k+JournalistsOpted In Originally published at https://www.prnewswire.com/news-releases/global-educational-tech-market-projected-to-reach-187-9-billion-by-2029--302285004.html Images courtesy of https://pixabay.com

Photo by Anna Nekrashevich via Pexels

More from Education