“Comprehensive report highlights key segments, growth drivers, and role of technology in the global education technology market.”
BOSTON , Oct. 23, 2024 /PRNewswire/ — “Educational Equipment and Software: Global Market to grow from $105.4 billion in 2024 to $187.9 billion by year-end, according to BCC Research’s latest study on ‘Educational Equipment and Software: Global Market.’ is expected to reach. The compound annual growth rate (CAGR) is expected to be 12.2% during the forecast period 2024-2029. ”
BCC Research
This report analyzes the global Educational Equipment and Software market, highlights current trends and provides a comprehensive market overview. The report segments the market by type and application and provides detailed revenue forecast from 2024 to 2029 with 2023 as the base year. Geographical breakdown includes North America (United States, Canada, Mexico), Europe (United Kingdom, Germany, France, Spain, Rest of Europe), Asia Pacific (Mainland China, Japan, South Korea, India, Rest of Asia Pacific), and World. Rest of the world (South America, Middle East, Africa). Explore the emerging technologies shaping the education sector and provide insight into the competitive vendor landscape. The report concludes with detailed profiles of key players driving innovation and growth in the market.
This report is particularly relevant to stakeholders in the educational equipment and software industry, providing a timely and in-depth analysis of a sector undergoing rapid transformation. Through detailed segmentation by type and application, we provide valuable insights to equipment manufacturers, software developers, content providers, and investors to understand key market trends, identify growth opportunities, and address emerging challenges. Helpful. As education continues to shift toward digital platforms and technology-driven solutions, staying informed about these dynamics is essential to making strategic decisions, fostering innovation, and staying competitive. This report focuses on emerging technologies and the evolving vendor landscape, ensuring stakeholders remain well-positioned to take full advantage of future developments in this fast-moving market.
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The factors driving the global educational equipment and software market are:
Increasing integration of AI and ML into educational tools: AI and ML are revolutionizing education by personalizing learning and automating tasks. These technologies identify student strengths and weaknesses and enable customized instruction and real-time feedback to improve outcomes.
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The rise of gamification in education: Gamification incorporates game elements into learning to make it more engaging. Rewards, challenges, and interactive content increase student motivation, improve retention, and foster a deeper interest in learning.
The rapid rise of mobile learning: Mobile learning uses smartphones and tablets to provide flexible access to educational content. This trend supports continuous learning outside of the traditional classroom, making education more accessible and convenient.
Expanding impact of social-emotional learning (SEL) technology on education: By addressing the holistic needs of learners, SEL technology supports the development of emotional intelligence and interpersonal skills in students, improving their well-being and academic performance. Improve your grades.
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Report summary
Report metrics
detail
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 2024-2029
Target segment
Type, use, region
Target area
North America, Europe, Asia Pacific, and Rest of the World (RoW)
Target country
USA, Canada, Mexico, UK, Germany, Spain, France, China, Japan, South Korea, India
Key market drivers
• Increased integration of AI and ML into educational tools.
• The rise of gamification in education.
• Rapid adoption of mobile learning.
• The increasing impact of social-emotional learning (SEL) technology on education.
Important interesting facts about educational equipment and software in the world:
Hardware dominates the market:
The hardware division leads the educational equipment and software market.
Physical devices require a large initial investment, which is expected to reach $76.1 billion by 2029.
2. Content as the second largest segment:
3. Rapid growth of software:
Software is growing rapidly at a CAGR of 13.7%.
Growth is being driven by technological advances, the move to cloud-based solutions, and the increased use of SaaS models, learning management systems (LMS), and enterprise resource planning (ERP) systems.
4. Market-leading universities:
The university segment is the largest and is expected to surpass K-12 in market share.
This is due to the increasing adoption of cloud-based solutions and advanced technologies in higher education.
5. Challenges in the field of kindergarten to high school:
K-12 institutions face budget constraints, integration issues, and declining technology adoption among staff.
Further challenges include high costs of platform management, operating expenses, lack of staff for SaaS management, and reluctance to adopt new technologies.
Global educational equipment and software includes detailed data and analysis that addresses the following important questions:
What is the projected market size and growth rate of the global educational equipment and software market?
2.What are the key factors driving the growth of the global Educational Equipment and Software market?
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, rise of gamification in education, and mobile learning revolution. It will be.
3. By application, which segment will dominate the market by the end of 2029?
The university segment will continue to dominate in global educational equipment and software by the end of 2029 due to the increasing adoption of educational technology in higher education across various universities. It also has a higher market share as universities tend to aim for regular technology upgrades to align with industry standards and prepare students for technology-centered careers.
4. Which region has the highest market share in the global Educational Equipment and Software market?
North America region is the major revenue source for the global educational equipment and software market. Revenue in 2023 was $39 billion, accounting for approximately 38.7% of the global total. North America and Europe are both important markets, with major industry players deriving significant revenue from these regions, innovations in equipment and software, high internet penetration, widespread adoption of technology in education, and industry expansion. There is great potential for growth with significant government investment to promote this. Moreover, Asia Pacific is the fastest growing educational equipment and software market globally, driven by favorable demographic trends and solid economic development.
The major market players are:
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