Education Hardware Market to grow at a CAGR of 13.45% during 2024-2028
The Education Hardware Market is expected to grow at a CAGR of 13.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 40.45 billion. The global education hardware market has experienced notable growth due to the increasing prioritization of STEM (Science, Technology, Engineering, and Mathematics) education. This trend is driven by the recognition of the crucial role STEM fields play in preparing students for future careers. A significant contributor to this trend is the surge in demand for educational toys that foster STEM learning, particularly in coding and robotics. Coding, a fundamental skill in today's digital era, is essential for cultivating computational thinking and problem-solving abilities. Consequently, the market has witnessed a profound impact, with consumer preferences shifting towards innovative STEM toys and an increased focus on their design and development.
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Technavio analysts predict that the K-12 education subsegment will lead the Application segment during 2024 and 2028 The K-12 education sector significantly contributes to the global education hardware market, fueling the demand for advanced technology-driven learning tools and solutions. With a strong emphasis on active engagement and interactive learning, education hardware in the K-12 segment comprises an extensive array of devices and equipment, designed to optimize the educational experience for both students and educators. One burgeoning sector within the K-12 education segment is the adoption of interactive displays and smart boards. These technologies enable teachers to deliver captivating lessons, thereby fostering increased student engagement and collaboration. For instance, interactive whiteboards facilitate the creation of immersive learning environments by integrating multimedia content and interactive activities into lessons, thereby enhancing the overall educational experience.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rise in adoption of online learning platforms, digital content and assessment tools within educational institutions
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The Education Hardware Market is experiencing a significant surge as a result of the integration of cutting-edge technologies like IoT, interactive learning experiences, and personalized learning experiences in educational institutions. This trend is transforming traditional classroom learning into smart classrooms, where students can benefit from digital content, assessment tools, and eBooks. Interpretive reading and vocabulary expansion are now more accessible with audio versions and software designed for students with physical disabilities. The use of education technology (EdTech) and digital charters is enabling educational institutions to offer languages and STEM education in innovative ways. Hardware plays a crucial role in this digital transformation, from IoT sensors to blockchain technology, which ensures secure and transparent educational outcomes. The integration of these technologies in education hardware is making learning more engaging, accessible, and effective for students. Printed content is no longer the only means of learning, as education hardware offers a more interactive and immersive experience. With the availability of personalized learning experiences, assessment tools, and digital content, students can now learn at their own pace and style, leading to better educational outcomes. In conclusion, the Education Hardware Market is revolutionizing the way we learn, making education more accessible, engaging, and effective for students of all abilities and backgrounds. With the continued advancement of technology, we can expect even more innovative solutions to emerge in the future.
According to Technavio, the global education hardware market is a segment of the larger global technology hardware, storage, and peripherals market, which encompasses manufacturers of various IT products. This market includes cellular phones, personal computers, servers, electronic computer components, peripherals, data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other related hardware. The market size is determined by the revenue generated from the sales of these hardware devices, equipment, and components. The growth of the global technology hardware, storage, and peripherals market will be fueled by the increasing demand for data centers, particularly due to the COVID-19 pandemic driving the need for remote work solutions.
The Education Hardware Market is experiencing significant growth, fueled by the rise in adoption of online learning platforms, digital content and assessment tools within educational institutions. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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