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Global Educational Tech Market Projected to Reach $187.9 Billion by 2029

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“Comprehensive Report Highlights Key Segments, Growth Drivers, and Technology’s Role in Global Educational Tech Market”

BOSTON, Oct. 23, 2024 /PRNewswire/ — “According to the latest BCC Research study on “Educational Equipment and Software: Global Markets” is expected to grow from $105.4 billion in 2024 and is projected to reach $187.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 12.2% during the forecast period of 2024 to 2029.”

This report analyzes the global educational equipment and software market, highlighting current trends and providing a comprehensive market overview. The report segments the market by type and application, offering detailed revenue forecasts from 2024 through 2029, using 2023 as the base year. The geographic breakdown includes North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Spain, Rest of Europe), Asia-Pacific (Mainland China, Japan, South Korea, India, Rest of Asia-Pacific), and the Rest of the World (South America, Middle East, and Africa). It explores emerging technologies shaping the educational sector and provides insights into the competitive vendor landscape. The report concludes with detailed profiles of key players driving innovation and growth in the market.

This report is especially relevant to stakeholders in the educational equipment and software industry, offering a timely and in-depth analysis of a sector that is undergoing rapid transformation. Through detailed segmentation by type and application, it provides valuable insights for equipment manufacturers, software developers, content providers, and investors, helping them understand key market trends, identify growth opportunities, and navigate emerging challenges. As education continues to shift towards digital platforms and technology-driven solutions, staying informed about these dynamics is essential for making strategic decisions, fostering innovation, and maintaining a competitive edge. The report’s focus on emerging technologies and the evolving vendor landscape ensures that stakeholders remain well-positioned to capitalize on future developments in this fast-moving market.

Please click here for more details on “The Global Educational Equipment and Software Report.”

The following factors drive the global market for educational equipment and software:

Increasing integration of AI and ML in educational tools: AI and ML are revolutionizing education by personalizing learning and automating tasks. These technologies identify students’ strengths and weaknesses, allowing for customized instruction and real-time feedback to improve outcomes.

Rise of gamification in education: Gamification incorporates game elements into learning, making it more engaging. Rewards, challenges, and interactive content motivate students, improving retention and fostering a deeper interest in learning.

Rapid rise of mobile learning: Mobile learning uses smartphones and tablets to provide flexible access to educational content. This trend supports continuous learning outside traditional classrooms, making education more accessible and convenient.

Growing impact of social-emotional learning (SEL) technologies on education: SEL technologies help students develop emotional intelligence and interpersonal skills, improving well-being and academic performance by addressing the holistic needs of learners.

Request a sample copy of the global educational equipment and software report.

Report Synopsis

Report Metrics

Details

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 of 2024-2029

Segment Covered

Type, Application, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered

U.S., Canada, Mexico, U.K., Germany, Spain, France, China, Japan, South Korea, and India

Key Market Drivers

•  Increasing integration of AI and ML in educational tools.

•  Rise of gamification in education.

•  Rapid rise of mobile learning.

•  Growing impact of social-emotional learning (SEL) technologies on education.

 

Key Interesting Facts about global educational equipment and software:

Hardware Dominates the Market:The hardware segment leads the educational equipment and software market.Projected to reach $76.1 billion by 2029 due to the high initial investments required for physical devices.

       2. Content as the Second-Largest Segment:

Content remains highly valued for its direct influence on teaching and learning.It holds the second-largest market share after hardware.

      3.  Rapid Growth of Software:

Software is growing quickly, with a CAGR of 13.7%.Growth driven by technological advancements, shift to cloud-based solutions, and increased use of SaaS models, Learning Management Systems (LMS), and Enterprise Resource Planning (ERP) systems.

      4.  Universities Leading the Market:

The university segment is the largest and is expected to surpass K-12 in market share.This is due to the higher adoption of cloud-based solutions and advanced technologies in higher education.

      5.  Challenges in the K-12 Sector:

K-12 institutions face budget limitations, integration issues, and lower technology adoption among staff.Additional challenges include high costs for platform administration, operational expenses, inadequate staffing for SaaS management, and reluctance to adopt new technologies.

The global educational equipment and software include in-depth data and analysis addressing the following important queries:

What is the projected market size and growth rate of the global educational equipment and software market?The global market for educational equipment and software was valued at $100.8 billion in 2023 and will reach $187.9 billion by 2029, growing at a CAGR of 12.2% from 2024 to 2029.

       2.  What are the key factors driving the growth of the global educational equipment and software market?

The 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, a rise of gamification in education, and the mobile learning revolution.

      3.  By application, which segment will dominate the market by the end of 2029?

By the end of 2029, the universities segment will continue to dominate global educational equipment and software owing to the increased adoption of educational technology across various universities for higher education. Also, the higher market share, as universities tend to go for regular technological upgrades, is driven by the need to align with industry standards and prepare students for tech-centric careers.

      4.  Which region has the highest market share in the global educational equipment and software market?

The North American region is the leading revenue generator for the global educational equipment and software market. In 2023, it accounted for $39.0 billion in revenue, representing about 38.7% of the global total. Both North America and Europe are key markets, with significant growth potential driven by major industry players deriving substantial revenue from these regions, innovations in equipment and software, high internet penetration, widespread technology adoption in education, and substantial government investments to foster industry expansion. Moreover, the Asia-Pacific region has become the fastest-growing market for educational equipment and software on a global scale, fueled by favorable demographic trends and robust economic development.

Some of the Key Market Players Are:

2UANTHOLOGY INC.APPLE INC.ARTICULATE GLOBAL LLC.CISCO SYSTEMS INC.CORNERSTONECOURSERA INC.D2L CORP.DELL INC.ECHO360GOOGLE INC. (ALPHABET INC.)HP DEVELOPMENT CO. L.P.INSTRUCTURE INC.INTEL CORP.LENOVOMICROSOFTORACLEPEARSON

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Directly purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions free of noise and hype.

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Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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SK keyfoundry expands high-voltage foundry services portfolio with the launch of HVIC process technology

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SEOUL, South Korea, Oct. 24, 2024 /PRNewswire/ — SK keyfoundry, an 8-inch pure-play foundry in Korea, announced today that it has expanded and enhanced its high-voltage foundry services portfolio with the launch of HVIC (High Voltage Integrated Circuit) process technologies.

SK keyfoundry’s HVIC process is characterized by implementing 5V logic, 25V high-voltage devices, 650V+ nLDMOS (Lateral Double diffused MOS), and 650V+ Bootstrap diode in one process, enabling customers to reduce external devices and design various high-voltage functions on a single chip, and is expected to contribute to improving customer product competitiveness by securing high current performance in the case of the 25V high-voltage devices and 650V nLDMOS devices included. In addition, non-volatile devices, MTP (Multi Time Program) IP and OTP (One Time Program) IP, are provided as an option, enabling customers to change various product specifications in one design.

With this HVIC process development, SK keyfoundry expands its high-voltage lineup to include gate driver products in the 650V to 1200V range, in addition to its existing lineup of 200V and lower products in the high-voltage BCD (Bipolar-CMOS-DMOS) process and ultra-high voltage products above 1500V with the Thick IMD (Inter Metal Dielectric) option. In particular, this process meets the automotive quality standard AEC-Q100 Class 1, making it suitable for automotive motor drivers and OBCs for electric vehicles, and is expected to enable business expansion into various applications where demand is projected to increase in the future, such as solar inverters.

Major products using HVIC process include gate driver ICs for high voltages that take control signals from an MCU (Micro Controller Unit) and directly drive gates such as high-voltage MOSFETs (Metal Oxide Semiconductor Field Effect Transistor) or IGBTs (Insulated Gate Bipolar Transistor), which are used in a variety of power products, including motor drives for large white goods, voltage converters for data servers, automotive motor drives and OBCs (On Board Charger), and industrial motor drives.

“The launch of our HVIC process technology is significant as it strengthens our competitiveness in the large home appliance and automotive motor markets,” said Derek D. Lee, CEO of SK keyfoundry. “As we continue to expand our HVIC portfolio, we will continue to build on our technology advantage for a variety of applications, including gate driver ICs for next-generation power semiconductor high-voltage devices.”

About SK keyfoundry

Headquartered in Korea, SK keyfoundry provides specialty Analog and Mixed-Signal foundry services for semiconductor companies to serve a wide range of applications in the consumer, communications, computing, automotive and industrial industries. With a broad range of technology portfolios and process nodes, SK keyfoundry has the flexibility and capability to meet the ever-evolving needs of semiconductor companies across the globe. Please visit https://www.skkeyfoundry.com for more information.

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SOURCE SK keyfoundry.

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Voler Strategic Advisors Takes Home Six Awards at the 20th Annual Davey Awards

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 The fast-growing communications firm wins one gold and five silver awards in video and corporate identity categories.

SAN JOSE, Calif., Oct. 23, 2024 /PRNewswire/ — Voler Strategic Advisors is thrilled to announce it has been named a multiple winner at the prestigious 20th Annual Davey Awards. The firm secured a remarkable six awards across various categories, solidifying its position as a leader in creative and strategic communications.

The Davey Awards celebrate the best work from creative agencies of all sizes, including boutique firms like Voler Strategic Advisors. The international competition recognizes excellence in various fields, including Video, Advertising & Marketing, Mobile Apps & Sites, Social Media, Branded Entertainment, Emerging Tech, and Podcasts.

“We are incredibly honored to be recognized six times at the Davey Awards,” said Perla Rodriguez, CEO, at Voler Strategic Advisors. “This achievement is a testament to our team’s dedication, creativity, and strategic expertise.”

Voler Strategic Advisors won recognition in the following Davey Awards categories:

Film/Video-Social Good, Gold 2024Film/Video-General-Education, Silver 2024 (2 separate awards)Film/Video Campaign-Schools & Universities, Silver 2024Corporate Identity-Logos, Silver 2024Film/Video-Non-Profit, Silver 2024

Rolando Bonilla, Chief Strategy Officer, at Voler Strategic Advisors, remarked, “This recognition fuels our commitment to delivering exceptional results. Our team is passionate about building impactful campaigns for our clients, nearly all of which are public-serving institutions. We are proud that three of these six awards were for bilingual projects in Spanish and English that engaged diverse audiences.”

The Davey Awards are judged by the Academy of Interactive and Visual Arts (AIVA), an exclusive group of top professionals from leading brands, media agencies, and marketing firms, including Spotify, Nissan, Tinder, Condé Nast, Disney, Microsoft, and many others. Visit aiva.org for more information.

Voler Strategic Advisors has been lauded as one of Silicon Valley’s fastest-growing communications firms–it has doubled in size in recent months, hiring across its leadership, strategic communications, and video teams.

About Voler Strategic Advisors: Headquartered in the heart of Silicon Valley, Voler Strategic Advisors is a full-service strategic communications firm offering public relations, crisis management, and communications strategies that help organizations achieve their full potential. Learn more at: https://volersa.com/ 

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SOURCE Voler Strategic Advisors

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SK hynix Announces 3Q24 Financial Results

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Revenues at 17.5731 trillion won, operating profit at 7.03 trillion won, net profit at 5.7534 trillion won – all reaching new recordsAchieving best-ever quarterly performance with increasing high value-added product sales based on no.1 AI Memory technologyStrong demand of memory for AI servers – HBM’s share of DRAM revenues in Q3 marks 30% and forecast to be 40% in Q4Company to lead the global AI memory market again next year promoting long-term growth by securing both business stability and profitability

SEOUL, South Korea, Oct. 23, 2024 /PRNewswire/ — SK hynix Inc. (or “the company”, www.skhynix.com) announced today that it recorded 17.5731 trillion won in revenues, 7.03 trillion won in operating profit (with an operating margin of 40%), and 5.7534 trillion won in net profit (with a net margin of 33%) in the third quarter this year.

Quarter revenues marked all-time high, exceeding the previous record of 16.4233 trillion won in the second quarter of this year by more than 1 trillion won. Operating profit and net profit also far exceeded the record of 6.4724 trillion won and 4.6922 trillion won in the third quarter of 2018 during the semiconductor super boom.

SK hynix emphasized that the demand for AI memory continued to be strong centered on data center customers, and the company marked its highest revenue since its foundation by expanding sales of premium products such as HBM and eSSD. In particular, HBM sales showed excellent growth, up more than 70% from the previous quarter and more than 330% from the same period last year.

As sales increased mainly on highly profitable premium products, the average selling price (ASP) of both DRAM and NAND rose in the mid 10% range compared to the previous quarter, which made the company mark the highest operating profit.

While the demand of memory for AI servers such as HBM and eSSD has grown noticeably this year, the company predicts that this trend will continue next year. This is because generative AI is developing into a multi-modal1 form and global big tech companies continue to invest to develop artificial general intelligence (AGI)2.

1Multi-modal: AI service that can understand multiple complex information such as text, photos, voice, video, etc.

2Artificial General Intelligence: Artificial intelligence that implements human-like or higher intelligence with a computer

SK hynix also forecasts that the PC and mobile product markets, which had been slow to recover demand compared to memory for AI servers, will be on a steady growth path as well next year as AI memories optimized for each device are released.

As a result, the company will continue to focus on profitability by increasing sales centered on high value-added products based on its world-leading technology in AI memory.

In the DRAM area, SK hynix is continuing the rapid transition from existing HBM3 to HBM3E 8-layer products. The company also plans to start supplying 12-layer HBM3E products, which were mass-produced last month, in the fourth quarter as scheduled. This makes HBM sales, which accounted for 30% of total DRAM revenues in the third quarter, expected to reach 40% in the fourth quarter.

For NAND, the company plans to expand sales of high-capacity eSSD, which is rapidly increasing market demand, while focusing on investment efficiency and production optimization.

“SK hynix has solidified its position as the world’s No.1 AI memory company by achieving the highest business performance ever in the third quarter of this year.” said Kim Woohyun, Vice President and Chief Financial Officer (CFO) at SK hynix. “We will continue to maximize profitability while securing stable revenues by taking flexible product and supply strategies in line with market demand.”

 3Q24 Financial Results (K-IFRS)

*Unit: Billion KRW

3Q24

QoQ

YoY

2Q24

Change

3Q23

Change

Revenues

17,573.1

16,423.3

7 %

9,066.2

94 %

Operating
Profit

7,030

5,468.5

29 %

-1,792

Turn to profit

Operating
Margin

40 %

33 %

7%p

-20 %

60%p

Net Income

5,753.4

4,120

40 %

-2,184.7

Turn to profit

Financial information of the earnings is based on K-IFRSPlease note that the financial results discussed herein are preliminary and speak only as of October 24, 2024. Readers should not assume that this information remains operative at a later time.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), flash memory chips (“NAND flash”) and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

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SOURCE SK hynix Inc.

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