The value of the global smart classroom market will likely more than double inside a decade, according to new findings from Transparency Market Research (TMR).
Worth just shy of $50m in 2016, by 2026 the figure will be $109,660m, says TMR’s Smart Classroom Market study.
Much of the market’s expansion, says TMR, can be attributed to a rise in student mobility. With would-be learners increasingly likely to leave their home countries in pursuit of optimum learning, educational institutions are compelled to boost their offering by installing interactive whiteboards, digital displays, smart projectors, and so forth.
North America is predicted to be the biggest player in the smart classroom market, followed by Europe.
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The highest rise in demand, meanwhile, is expected to come in the Asia-Pacific region, with a compound annual growth rate of around 9%.
This forecast is but a continuation of an established trend. In the Philippines, for example, enrollment of foreign students in the education system has been growing exponentially. Figures from the Organisation for Economic Cooperation and Development show that around 7,700 international students were studying in the country in 2011; five years later, the number had reached 210,000.
Growth is to some degree likely to be self-perpetuating, says TMR, as key smart classroom players – such as Samsung, Microsoft, Dell, Fujitsu, and IBM – sign long-term contracts with educational institutions, thereby creating ready streams of both revenue and research potential.