The EdTech and smart classroom market in APAC is expected to grow from US$ 17,692.4 million in 2019 to US$ 64,353.4 million by 2027; it is estimated to grow at a CAGR of 17.5% from 2020 to 2027. Asia Pacific (APAC) is expected to be the fastest-growing market for EdTech and smart classroom products during the forecast period.The high focus on education and rising youth population in countries, huge demand for smart and connected devices among students, and growing number of EdTech startups are a few of the factors driving the procurement of education technology solutions in this region.
China and India are among the leading countries in terms of EdTech startups and investments since past 3-4 years, with China being a leader in terms of EdTech investments.In India, BYJU raised historical investment of US$ 540 million in 2018.
Several key EdTech companies in China and India, with the valuation of ?US$ 1 billion, include VIPKid (US$ 4.5 billion), Yuanfudao (US$ 7.8 billion), Zuoyebang (US$ 6.5 billion), Knowbox (US$ 1 billion), iTutorGroup (US$ 1 billion), 17zuoye (US$ 1 billion), HuJiang (US$ 1 billion), ByJu’s (US$ 10 billion), and Unacademy (US$ 1.4 billion). Moreover, K-12, higher education, lifelong learning, corporate learning, and early childhood education institutes are receiving impressive investments. The growing popularity of e-learning/digital learning solutions, coupled with rising trend of digitalization in the education sector of all the major Asian and Southeast Asian countries is boosting the growth opportunities for the market players operating in the APAC EdTech and smart classroom market. In terms of end user, the higher education segment is expected to register the highest CAGR in the APAC EdTech and smart classroom market.Online education has made higher education more accessible for full-time/part-time employees, disabled students, and others.
Universities in the India and China are increasingly enhancing their online offerings.Several government initiatives also popularize the adoption of digital technologies in the education sector.
For instance, SWAYAM is a teach-and-learn program introduced by the Indian government, which helps students to opt for online courses covering all higher education subjects. International universities are also allowed to offer their courses and examination through this platform. APAC is characterized by the presence of many developing countries such as China and India, as well as South Asian countries where investments in education sector and EdTech startups is high.The rising urbanization levels and high population growth, and increasing technology adoption in the education sector are among the key factors that make APAC an attractive market for EdTech and smart classroom products.
APAC is home to ~60% of world population that includes the two most populous countries—China and India.In addition to the huge population, the region also has presence of huge young and tech savvy school and college students.
Additionally, the high penetration of consumer electronics and growing demand of e-learning/distance learning solutions in countries also support the EdTech and smart classroom market growth in the region. The ongoing COVID-19 outbreak and consequent shutdown of schools and other educational institutions in the region is further fueling the adoption of education technology solutions. The overall APAC 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 APAC 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 typically involved in 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 APAC EdTech and smart classroom market. Apple Inc.; Blackboard Inc.; Cisco Systems, Inc.; D2L Corporation; IBM Corporation; Lenovo Group Limited;Microsoft Corporation; Oracle Corporation; SAP SE; SMART Technologies are among a few players operating in the APAC market.
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