According to a recent report by the International Data Corporation (IDC), the global market for devices used in education and learning scenarios has experienced remarkable growth, reaching a staggering $110.2 billion in 2023.
This represents a substantial year-on-year increase of 4.2 percent from the previous year. What’s even more promising is the projection for 2024, with expectations of a 9.6 percent year-on-year growth, setting the stage for the market to exceed a remarkable $150 billion by 2027.
Summer 2023 Sees Varied Trends in Sales for Key Education Devices
As we delve deeper into the realm of education technology, a closer look at device sales during the summer of 2023 reveals interesting trends. Sales figures for key devices, including tablets, children’s smartwatches, and PCs, show a dynamic landscape influenced by various factors.
Smart Tutoring Tablets: This category has gained tremendous traction in the education and learning devices market, attracting new entrants. During the first half of 2023, a remarkable 2.19 million units were shipped, marking a robust 37 percent increase compared to the previous year. In July 2023, 410 thousand units were shipped, demonstrating a staggering 49 percent growth compared to July 2022.
Kid’s Smartwatches: Sales for children’s smartwatches remained stable, with first-half sales in 2023 reaching 6.88 million units, a modest 1 percent increase from 2022. The demand for these devices is bolstered by the resurgence of children’s outdoor activities but is still in the process of recovering. July 2023 witnessed a 3 percent decline in sales compared to the previous year, with expectations of increased demand in August as new products hit the market.
K12 and College PCs: The pandemic-induced surge in sales for PCs during 2020 resulted in a 26 percent drop in shipments during the first half of 2023, with 5 million units shipped. However, there was a significant recovery in July 2023, with sales down only 12 percent year-on-year at 1.04 million units, indicating a rebound in demand.
China’s Tutoring Tablet Market Shows Robust Growth
China, a major player in the education technology sector, has been witnessing remarkable growth in the tutoring tablet market. In Q2 2023 alone, China shipped approximately 1.03 million units of tutoring tablets, reflecting an impressive year-on-year increase of 36.6 percent. This growth trend extended into the first half of the year, with shipments up by 37.2 percent year-on-year.
Since the fourth quarter of 2022, the tutoring tablet market in China has entered a second phase of development, characterized by broader consumer awareness and increased competition. Notably, tutoring companies like Xueersi and intelligent learning firm Youdao, a subsidiary of NetEase, have entered the market, intensifying competition. Current trends indicate that shipments are still on an upward trajectory, driven by a diversification of consumer demand.
The education and learning device market continues to evolve, presenting both challenges and opportunities for companies and consumers alike. With innovation and competition driving growth, the sector is poised for continued expansion in the coming years.