The global education technology market is anticipated to reach USD 429.5 billion by 2030 at a CAGR of 16.5%. The emergence of technology has evolved the learning experience. The education industry is on the verge of the digital revolution. Advancement in the latest technologies such as AI, robotics, and AR/VR, and their immense potential for integration in learning is transforming conventional teaching techniques. These factors are enabling institutes and students to streamline knowledge through practical and cross-curricular applications. Moreover, from virtual classrooms to online classes and courses, Edtech has created lucrative opportunities for the influx of immense investments across the globe.
Favorable government initiatives to enhance learning have leveraged the Edtech Industries to advance their technologies. This is expected of incumbents in the education industry. For instance, In November 2021, in India, the Bengal Government made acquisitions with the EdTech start-up School net India Limited, an EdTech start-up to promote digital learning and career development programs. This platform will also enable students to access Geneo eSekha portal, a website started by the state education, which offers subjects learning from class 5 to class 10.
The surge of smart devices and high-speed internet is driving the market growth. Increasing awareness regarding the potential of the integrating latest technologies in the education industry is helping in the contribution of the market growth. The developed countries have been focusing on the innovation of the Edtech offerings in order to support education administration, engage students in learning, and reduce teacher workloads. Whereas the developing economies are looking at Edtech as an opportunity for a larger population to gain easy and convenient access to education. For instance, In India, In November 2021, BYJU'S, a leading EdTech platform launched BYJUS Future School, to offer online education to larger students and mark their position in the global market.
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Education Technology Market Report Highlights
• North America led the market accounting for over 35% of the total market share in 2021 Some of the major educational firms and institutes across the region are significantly changing their inclination from legacy EdTech education systems toward online-based EdTech solutions
• Cloud computing technology is anticipated to gain significant market share during the forecast period. Cloud technology enables the storage of vital resources such as audio/video lessons, written lessons, and assignments on institute cloud terminals for easy access for students
• Mobile devices and tablets flourishing gaming technology and immersive learning in educational institutions. They are essential for upgraded interactive and enhanced learning
Education Technology Market Segments
Education Technology Sector Outlook (Revenue, USD Million, 2017 - 2030)
• Higher Education
Education Technology End-user Outlook (Revenue, USD Million, 2017 - 2030)
Education Technology Type Outlook (Revenue, USD Million, 2017 - 2030)
Education Technology Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Education Technology Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)
List of key players of the Education Technology Market
• Blackboard Inc.
• Chegg, Inc.
• Coursera Inc.
• edX Inc.
• Google LLC
• Instructure, Inc.
• Udacity, Inc.
• upGrad Education Private Limited