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Market for Education and Learning Devices Surges to $110.2 bn in 2023

In 2023, the global market for devices used in education and learning situations will reach a startling $110.2 billion, according to a recent research by the International Data Corporation (IDC).

This shows a significant gain of 4.2 percent from the prior year when compared year over year. Even more encouraging is the forecast for 2024, which anticipates growth of 9.6% annually, paving the way for the market to surpass the amazing $150 billion mark by 2027.

Key Education Devices Sales Trends Vary in the Summer of 2023

As we go further into the world of educational technology, fascinating patterns emerge from a closer examination of device sales in the summer of 2023. Sales data for important gadgets like tablets, kids' smartwatches, and PCs reveal a dynamic market driven by many variables.

Smart Tutoring Tablets: This category has had significant growth in the market for educational and learning technology, drawing new players. A stunning 2.19 million units were shipped in the first half of 2023, which represents a significant 37 percent rise from the previous year. A startling 49 percent increase over July 2022, 410 thousand units were supplied in July 2023.

Kids' Smartwatches: Sales of kids' smartwatches remained steady, hitting 6.88 million units in the first half of 2023, a slight 1 percent rise from 2022. The increase in children's outside activities is helping to drive demand for these gadgets, which is currently recovering. Sales in July 2023 were down 3% from the same month the previous year, but it's predicted that demand will rise in August as more products enter the market.

K12 and College PCs: Due to the pandemic-induced rise in PC sales during 2020, shipments fell by 26% in the first half of 2023, totaling 5 million units. With sales down only 12% year over year at 1.04 million units, however, there was a dramatic turnaround in July 2023.

The market for tutoring tablets has shown impressive growth, particularly in China, a prominent player in the education technology industry. China exported almost 1.03 million teaching tablets in Q2 2023 alone, a significant rise of 36.6 percent year over year. Shipments increased by 37.2% year over year for the first half of the year, continuing this growing pattern.

The tutoring tablet market in China has reached a second stage of development as of the fourth quarter of 2022, which is characterised by greater consumer awareness and competitiveness. Notably, tutoring businesses like Xueersi and the NetEase subsidiary Youdao, which specialises in intelligent learning, have entered the market, escalating rivalry. According to recent statistics, shipments are still increasing as a result of diversifying consumer demand.

The market for educational and learning tools is still developing, offering both opportunities and difficulties to businesses and consumers. The sector is positioned for ongoing growth in the upcoming years because to innovation and competition driving growth.