Home > Reports > Education Technology (EdTech) Market Segmentation, Demand, Growth, Forecast to 2030

Education Technology (EdTech) Market

Education Technology (EdTech) Market: Information by Sector (Preschool, K-12, Higher Education), End-User (Business, Consumer), and Region- Forecast till 2030

Published On : 28 Oct, 2022
Updated On : 31 Oct, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
17.10 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

The global education technology (EdTech) market size was valued at USD 105.48 billion in 2021. It is projected to reach USD 436.68 billion by 2030, growing at a CAGR of 17.10% during the forecast period (2022–2030). Learning evolves gradually in line with technological advancements. From virtual classrooms to Large Open Online Courses (MOOCs), the Education Technology industry is quickly evolving, resulting in a surge of massive investments globally. EdTech or Education technology implements classroom information and communication technology tools to provide more engaging, inclusive, and personalized learning environments. Increasing student involvement is becoming a top priority for educators. Consequently, market participants address these concerns by providing advanced interactive whiteboards and migrating from projector-based to touchscreen displays.

The increasing acceptance of EdTech tools for academic and non-academic applications augurs well for expanding the education technology market. In addition to traditional schooling, digital learning helps professionals to expand their skill sets while simultaneously pursuing their careers. It is also projected that education technology would play a crucial role in providing students with the flexibility to acquire new skills while overcoming geographical or resource-related limitations.

Get more information on this report Download Sample Report

Market Dynamics

Global Education Technology (EdTech) Market Driver

Growing Investment in Education Technology Development

Due to India's continued efforts to provide affordable broadband access, businesses can now engage with the public online. The trend is facilitating the development of the newest technology to deliver instructional information. To narrow the gap between the educational infrastructure and the available teaching resources, companies in the education industry are also considering adopting the newest technology. Incorporating AR and VR in EdTech solutions helps to provide learners with an engaging experience. It enables students to investigate and connect seamlessly with abstract concepts, increasing student engagement.

The rising usage of artificial intelligence and machine learning technologies results in personalized eLearning experiences. Machine learning algorithms help to predict outcomes based on past data, allowing learners to access particular content linked to subjects of interest. EdTech solutions can use AI and ML technology to deliver customized eLearning content. AI may help teachers enhance their teaching by personalizing education for each student, recognizing and fixing learning gaps, and delivering real-time feedback to students.

Governments across the globe have boosted their education budgets, and most nations have increased their investment as a proportion of GDP. According to the Economic Survey 2020-21, education expenditures as a proportion of GDP stayed steady between 2014 and 2019 at 2.8% and climbed to 3-3.5% in 2019-21. Governments are investing in various Greenfield and brownfield initiatives to meet the rising demand for future generations' educational needs. Greenfield projects are responsible for encouraging and fostering higher education institutions' growth.

Increasing Preference for Digital Learning

Digital learning is growing because online learning platforms make it easy to understand in ways that are interactive, flexible, high-quality, and collaborative. Digital learning also gives users the freedom to take classes when it's most convenient for them. As a result, many schools now provide their pupils with online education. Corporations are also using online training modules to teach their employees new skills and help them improve the ones they already have.

Digital learning can also help get around problems with the traditional way of teaching, such as the fact that different students learn at different speeds. Education institutes have adopted digital learning to improve the efficiency of several processes, such as keeping track of students, lowering operational costs, and improving safety and security. It also gives teachers, administrators, students, and researchers access to information tools. For example, the Delhi government in India launched Learning via E-Resources (LEAD) in July 2020, a digital site that includes teacher training information and teaching resources like lesson plans, revitalized texts, concept videos, and worksheets.

Global Education Technology (EdTech) Market Restraint

Increasing Cyber-Attacks on Educational Institutions and Businesses

The data collected by EdTech is used to make strategic decisions and establish individualized student goals. With inadequate network security, hackers may get unauthorized access to sensitive data in transit. It may violate the concerned individual's privacy and threaten their safety. While copyright rules prohibit data exploitation, legislators worldwide focus on privacy issues and responding to citizens' concerns. Recently, the number of attacks on higher education institutions has increased substantially, restricting EdTech market growth.

While the continuous transition to cloud computing has many benefits, it also exposes data to more severe security flaws. Typically, many users are linked to the network at educational institutions. However, all users may lack sufficient awareness of proper IT security procedures, putting them vulnerable to malware or fraudulent attacks. Since 2016, the K-12 Cyber security Resource Center has monitored publicly publicized cybersecurity events and has documented roughly 721 occurrences affecting K-12 education agencies. Such instances may compromise sensitive student data, such as academic records, medical data, home address, and Social Security number. However, administrators of educational institutions can reduce such intrusions by taking measures such as training their personnel to handle cyber security emergencies and investing in readiness initiatives.

Segmental Analysis of the Global Education Technology (EdTech) Market

The global education technology market is segmented by sector, end-user, and type.

Based on sector, the global EdTech market is bifurcated into preschool, K-12, higher education, and others.

The K-12 segment is the highest contributor to the market and is expected to grow at a CAGR of 18.87% during the forecast period. Game-based learning is expected to be a growing trend in the K-12 sector. Most teachers in the K-12 sector support gamification initiatives that integrate practical, project-based work to enhance students' math learning skills. In addition, it integrates advanced technologies with education to provide a high-quality, individualized curriculum for nursery school to high school. Incorporating technologies in this sector also allows for immersive content and experiences, such as virtual field trips and complex lab-based experiments, resulting in an engaging learning experience.

Leading players in the market offer their customers various solutions, such as app-based learning with videos and specially chosen content, especially for the preschool market. Technology development enables educators to collect assessment data directly on mobile devices, displacing the traditional use of paper and pen. Some assessments eliminate data entry and allow students to respond directly via touchscreen-enabled devices. Teachers can now collect evaluation data immediately on mobile devices. Market leaders provide their client base with various solutions, such as app-based learning with videos and selected content tailored to the early childhood market sector.

Based on end-users, the global EdTech market has been divided into business and consumer.

The business segment is the highest contributor to the market and is expected to grow at a CAGR of 16.92% during the forecast period. It is projected that the increase in partnerships between EdTech companies, educational institutions, and content developers would generate considerable growth potential for the digital education industry. Consequently, partnerships and collaborations are becoming increasingly vital components of this expanding ecosystem. Partnerships and collaborations are becoming an increasingly important part of this developing ecosystem. For example, Greenfield Community College (GCC) partnered with Upright Education in February 2022 to offer new skills in software development and technology, such as user experience design (UX) and user interface design (UI).

The consumer segment is expected to be driven by rising parental and student awareness of the change from traditional to digital formats in education. Lifelong learning is gaining popularity among adults and business employees due to its flexibility in terms of time and place to acquire new skills. EdTech solutions and learning systems aim to help students or individual learners develop their competencies, critical thinking, and creative abilities. Moreover, due to the affordability of online education for consumers, Massive Open Online Courses (MOOCs) are gaining increasing popularity worldwide.

Based on type, the global EdTech market has been segmented into hardware, software, and content.

The hardware segment owns the highest market share and is expected to grow at a CAGR of 17.12% during the forecast period. Early developments concentrated on technology in education, using audio-visual hardware or equipment in instructional procedures. The hardware industry accounted for the largest share. The growing popularity of digital classrooms in the education sector is one of the key drivers promoting market growth. Therefore, this trend is projected to increase the acceptance of hardware elements such as laptops, desktop computers, tablets, and more recently released interactive whiteboards and AR/VR headsets.

The content segment is projected to experience significant growth in the upcoming years. With the introduction of modern visualization technologies, the EdTech sector is experiencing content delivery innovation. For instance, the Government of Odisha introduced an e-Pathsala in June 2021, an e-learning platform with several courses for teachers and students. This platform would have many features like online classrooms, self-learning, assignment evaluation, and learner progress.

Regional Analysis of the Global Education Technology (EdTech) Market

The global education technology market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa (MEA)

North America Dominates the Global Market

Education Technology Market Regional Analysis

Regional Growth Insights Request Sample Pages

North America is the most significant shareholder in the global education technology market and is expected to grow at a CAGR of 18.34% during the forecast period. The U.S. and Canada are included in the analysis of the education technology market in North America. The dominance can be attributed to the numerous venture capitalist and private equity investments made in the American EdTech market. As the sector evolves, it is anticipated that companies with considerable revenue growth will attract additional capital and differentiate themselves from new market entrants. For example, Class Technologies Inc., a U.S.-based EdTech platform serving higher education classes and K-12 students, raised approximately USD 105 million in Series B funding in July 2021. Funding will allow them to expand their global presence outside of the United States and remain resourced to assist universities in teaching impacted students during the pandemic.

Asia-Pacific is expected to grow at a CAGR of 20.8%, generating USD 120.819 billion during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the Asia-Pacific education technology market analysis. This expansion can be attributed to the general public's increasing use of computing and smart devices. Recently, developing nations like India have seen a wave of accessible broadband connectivity, which has led to many businesses reaching out to the population. Due to this trend, users should be able to experience education and learn with the help of internet connectivity. For instance, the government of India has taken initiatives to improve the country's overall education system through skills development, emphasizing its focus on developing skills for new-age technologies.

The UK, Germany, France, Italy, Spain, and the rest of Europe are all included in the analysis of Europe's education technology market. The U.K. is Europe's digital marketing hub, and numerous EdTech startups are distributed directly to consumers in this region. They can leverage local expertise to develop best-in-class direct distribution models, identifying the most effective channels for customer acquisition and growth.

Latin America's Ed-tech market is on the verge of a significant change due to a rise in high-speed Internet access across the region, the growth of startups backed by venture capital, and increased demand for digital products. A decade of dedicated focus in LAC EdTech is coming to fruition, with the sector growing dramatically in the last year and demonstrating an apparent ability to scale and internationalize.

Saudi Arabia, the United Arab Emirates, Iran, and South Africa are among the countries represented in Middle East Africa. The demand for education technology solutions based on A.R., V.R., and A.I. technologies, would drive EdTech growth. The United Arab Emirates (UAE) has one of the region's most developed education sectors, and EdTech is quickly gaining traction as a beneficial tool for growing accessibility to learning with digital technologies like artificial intelligence (A.I.), virtual reality (V.R.), blockchain, and sensor-based IoT improving processes for learners and teachers alike.

Competitive Landscape

  • BYJU'S
  • Blackboard Inc.
  • Chegg Inc.
  • Coursera Inc.
  • Edutech
  • Microsoft
  • UpGrad Education Private Limited
  • Serif (Europe) Ltd
  • Autodesk Inc.
  • VMware Inc.
  • Udacity and Instructure Inc

Recent Developments

  • September 2021- Microsoft announced the launch of Azure Purview, a comprehensive data governance solution. Whether their data is stored on-premises, in various cloud services, or in SaaS apps, it helps enterprises thoroughly understand their data.
  • May 2022- Chegg, Inc., the leading student-first connected learning platform, announced the launching of the Center for Digital Learning to support educators and drive excellence across online, in-person, and hybrid learning modalities.
  • September 2022- Instructure Inc., the provider of Elevate Data Sync, entered into an agreement with Google that bridges the integration gap for Google Classroom users with a powerful and complete solution.

Global Education Technology (EdTech) Market: Segmentation

By Sector

  • Preschool
  • K-12
  • Higher Education
  • Others

By End-User

  • Business
  • Consumer

By Type

  • Hardware
  • Software
  • Content

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa (MEA)
Price Starts From
$4250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers