20 Jul Can Boxlight’s possible collaboration with Samsung help revive the Company?
Boxlight Corporation (NASDAQ: BOXL), a leading education technology Company offering interactive solutions for the education markets worldwide, announced that two if its products Boxlight-EOS Distance Teaching Essentials and MySTEMKits 3D printing curriculum have been awarded Tech & Learning Awards of Excellence by the Tech & Learning magazine.
The Annual Awards by the Tech & Learning magazine seek to recognize and honor products that facilitate learning and improve interaction for both educators and students. The awards are a validation for the Company’s technology, especially during these unprecedented times, when innovation and ingenuity are the need of the hour.
Furthermore the Company is in the spotlight after Samsung advocated the use of Boxlight’s education K-12 Hybrid Classroom Solution in a presentation. The Company also talks about a collaboration with Samsung to create an engaging teaching experience using Samsung Digital Signage for Education and OKTOPUS software. However further details of the collaborations have not been made public yet.
Education Technology is a burgeoning industry owing to a rise in internet penetration and use of smart phones. There is a growing acceptance of e-learning and many governments are providing impetus to e-learning initiatives. The advancements witnessed in the smart phone technology have revolutionized the delivery of education, with more and more people opting for digitized content. According to a report by EdTechXGlobal, the education technology market will grow by 17 percent per annum to reach $252bn by 2020.
Furthermore a report by Grand View Research estimates that the smart education market will reach $680.1 billion by 2027, growing at a CAGR of 17.9 percent from 182.8 billion in 2019. The emergence of a need for distance learning tools owing to COVID-19 will provide further impetus to the market.
The growth in the market will primarily be driven by population growth, with an estimated 2.7 billion students worldwide by the year 2035. The educational needs of such as large population cannot be addressed through conventional learning institutions, due to scarcity of resources to accommodate such a large population.
These numbers have grown exponentially since the escalation of the pandemic, as educational institutions and even corporate; have been compelled to use e-leaning mediums to continue their operations. In some cases governments are providing encouragement by facilitating the purchase of devices essential for imparting education and knowledge through online learning mediums. In addition, leading educational providers are looking for newer avenues to market their courses and services to a wider audience base worldwide.
As globalization and automation transform the face of the workforce, with a rising number of repetitive low-skilled jobs being automated, employees will need to add to their qualifications and skills. According the report, by 2025, 50 percent of the current jobs will not exist; thereby the demand for re-training will see people resorting to educational technology. The industry witnessed a record fundraising of $1.45 billion in 2018 and has seen the emergence of leaders, with investors concentrating on relatively fewer firms.
Boxlight Corporation (NASDAQ: BOXL)
Market Cap: $116.92M; Current Share Price: 3.67 USD
Data by YCharts
Boxlight is a vertically integrated comprehensive solution provider that develops and sells interactive classroom technologies. In addition, the Company also provides hardware engineering, manufacturing, content development, software solutions and services such as installation, training, consulting and maintenance. The Company products are available in over 32 languages and are marketed in over 60 countries. It provides a range of learning options such as whole-class learning, group collaborations, formative assessment and STEM-based learning.
The Company has a robust network of more than 500+ resellers and has a client list consisting of Klein ISD, Gwinnett county public schools CCPS and Atlanta Public Schools to name a few. Boxlight has been on an acquisition spree, which started in 2016, with the acquisition of Genesis Collaboration, followed by Mimio, Boxlight Group, Cohuborate, Qwizdom, EOS Education and Modern Robotics.
Boxlight has entered into a partnership with the Aldrin Family Foundation and ShareSpace Education for helping develop core skills in programming, engineering and robotics. Furthermore the Company launched a series of new products in 2019 such as Boxlight NDMS (Network Device Management System) MimioInteract and On-demand educator certifications for Mimio and Qwizdom to name a few.
The Company has many laurels to its credit including being the winner of 2018 Tech Advocate Award Winner in the Mimiospace. In December 2019, the Company received additional funding for its working capital requirements, through a follow-on investment from Lind Global Macro Fund, LP, an investment fund managed by The Lind Partners; a New York based institutional fund manager as per a Company statement.
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