WELLESLEY, Mass., January 14, 2021 (Newswire.com) – The global educational equipment and software market should reach $121.3 billion by 2025 from $65.8 billion in 2020 at a compound annual growth rate (CAGR) of 13%, according to the BCC Research report, Educational Equipment and Software: Global Markets.
Institutions are upgrading the learning environment by implementing smart education concepts in order to facilitate better collaboration and interaction. Drivers of the smart education and learning sector include increasing connectivity of handheld devices, increased collaboration between hardware vendors and educational content providers, higher demand for e-learning, technological advancements, and increased government initiatives.
The biggest driver of the market in 2020 was the COVID-19 pandemic, which caused schools and colleges to close and shift to online learning. Students and teachers were forced to make optimum use of technology.
- The hardware segment of the global educational equipment and software market is expected to grow from $22.2 billion in 2020 to $53.2 billion in 2025 at a CAGR of 19.1%.
- The software segment is expected to grow from $24.5 billion in 2020 to $39.1 billion in 2025 at a CAGR of 9.8%.
- Key market players: HP, IBM, Coursera, Scholastic Corp. and Intel.
Read the full report here: https://corporate.bccresearch.com/market-research/instrumentation-and-sensors/educational-equipment-and-software-global-markets.html
About BCC Research
BCC Research publishes market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering current and emerging industrial and technology sectors. For more information about BCC Research, visit bccresearch.com.
Source: BCC Research