USD 108.63 billion
Education Technology Market Size, Share, Growth Analysis, By Sector(Preschool, K-12, Higher Education, Others), By End User(Consumer, Enterprise), By Type(Hardware, Software [Classroom Management System, Document Management System, Learning and Gamification), By Deployment(On-premises, Cloud), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45E2068 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
90
|Figures:
76
Education Technology Market Insights
Education Technology Market size was valued at USD 108.63 billion in 2019 and is poised to grow from USD 123.4 billion in 2023 to USD 388.81 billion by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).
Education technology (EdTech) refers to hardware and software used to educate students on a virtual level to improve classroom learning and improve students' educational outcomes. By utilizing technology for learning and teaching, EdTech platforms help students overcome difficulties in receiving a comprehensive education. Learners are increasingly turning to eBooks, which can be accessed online from anywhere in the world. Digital content is less expensive to produce than printed content, which has higher production costs. Digital books are available in a variety of languages and can be easily translated and accessed by a larger user base. Furthermore, learners, particularly those with physical disabilities, can listen to audio versions of educational content to improve their vocabulary and encourage better interpretive reading.
EdTech solutions are expected to evolve in combination with advances in cutting-edge technologies such as IoT, AI, and AR/VR, and to significantly contribute to Education Technology Market growth. The incorporation of AR and VR in EdTech solutions allows for a more interactive learning experience for students. It enables students to explore and seamlessly connect with abstract concepts, thereby increasing student engagement.
Increasing student engagement is becoming a top priority for educators. As a result, Education Technology Market participants respond to such concerns by introducing advanced interactive whiteboards and transitioning from projector-based displays to touchscreen displays. For example, In July 2021, Huawei Technologies Co., Ltd., an information technology company, launched a kid's smart learning screen for children, with a variety of educational resources and applications such as word lookup, remote homework tutoring, teaching classes, textbooks, parent management education center, and smart learning solutions.
US Education Technology Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Business
Fastest Growth
Consumer
Growth Rate
13.6% CAGR
Global Education Technology Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Education Technology Market Segmental Analysis
Global Education Technology Market is segmented by Sector, End User, Type, Deployment and region. Based on Sector, the market can be segmented into Preschool, K-12, Higher Education, Others. Based on End User, the market can be segmented into Consumer, Enterprise. Based on Type, the market is segmented into Hardware, Software [Classroom Management System, Document Management System, Learning and Gamification, Learning Management System, Student Collaboration System, Student Information and Administration System, Student Response System, Talent Management System, Test Preparation], Content. Based on Deployment, the market is segmented into On-premises, Cloud. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Education Technology Market Analysis by Sector
In 2021, the K-12 segment led the Education Technology Market, accounting for more than 40% of global revenue. The large percentage is due to the growing trend of game-based learning in the K-12 sector. The majority of K-12 teachers support gamification initiatives to improve students' math learning skills through the integration of practical, project-based work in the classroom. 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. For example, In September 2021, Matific, an EdTech platform that provides math learning for K-6 students, will launch a gamified environment for its students to learn math. This advanced version is personalized AI-powered for students to develop their math skills.
Education Technology Market Analysis by End-User
In 2021, the business segment led the Education Technology Market, accounting for more than 65% of global revenue. The high share can be attributed to an increase in collaborations between EdTech firms, educational institutes, and content developers to create significant opportunities in the digital education sector. As a result, partnerships and collaborations are becoming an increasingly important part of this developing ecosystem. For instance, In February 2021, Greenfield Community College (GCC), collaborated with Upright Education to offer new skills in software development and technology, such as user experience design (UX) and user interface design (UI) (UI). The collaboration would allow GCC students to focus on self-employment while also creating a hub for a career in technology training.
Global Education Technology Market By End-User, 2021(%)
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Education Technology Market Regional Insights
North America dominated the Education Technology Market in 2021, accounting for more than 35% of global revenue. This high share can be attributed to a large number of venture capitalists and private equity investors investing in the EdTech sector in the United States. For example, In July 2021, Class Technologies Inc., a U.S.-based EdTech platform that serves both higher education classes and K-12 students, raised approximately USD 105 million in Series B funding. This funding would allow them to expand their global presence outside of the United States and remain resourced to assist universities in teaching the impacted students during the pandemic.
Global Education Technology Market By Geography, 2021 - 2028
- Largest
- Fastest
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Education Technology Market Dynamics
Education Technology Market Driver
- Due to the closure of educational institutes during the COVID-19 crisis, distance learning became one of the most prominent trends in the edtech and smart classroom industry. The pandemic has significantly changed how information is taught and learned. Learners are shifting to digital learning concepts via digital platforms as a result of social distancing norms. Despite the reopening of some educational institutions, the trend of distance learning may continue until 2021. As a result, there is a growing demand for online educational platforms. Distance learning can take the form of a slide-based online activity or an online course that assists learners in learning necessary skills.
- Education technology and the smart classroom market have undergone significant transformations in recent years, owing to the widespread adoption of mobile technology and increased education spending.
- Increasing mobile penetration and the low cost of e-learning material are seen as game changers in driving the education industry's growth. Europe, the United States, and the Commonwealth of Independent States have the highest rates of mobile and internet penetration. However, significant growth is expected from emerging markets, with mobile as a necessary device for knowledge acquisition. As a result, this Education Technology Market is expected to grow rapidly over the forecast year.
Education Technology Market Restraint
- Smart classroom infrastructure requires gadgets, such as computers, projectors, tablets, various advanced software, etc., which is expensive. With the advancement of technology, hardware and software requirements are constantly changing. Furthermore, to keep up with the advancement and changes in software, educational institutions may need to hire a tech professional, which is an additional cost that institutes must incur. These extra costs are likely to hinder the adoption of smart classroom solutions and can affect the Ed-Tech Sector.
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Education Technology Market Competitive Landscape
The Education Technology Market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Partnerships, strategic mergers, and acquisitions are expected to be the most effective ways for industry players to gain quick access to emerging markets while also improving technological capabilities.
Education Technology Market Top Player's Company Profiles
- Blackboard Inc.
- IBM Corporation
- Apple Inc.
- Microsoft
- Oracle
- Google LLC
- Dell Technologies Inc.
- SAP
- Cisco Systems Inc.
- Pearson PLC
- Promethean World Ltd.
- D2L Corporation
- Desire2Learn Incorporated
- Edmentum Inc.
- Ellucian Company L.P.
- Follett Corporation
- Instructure Inc.
- Knewton Inc.
- McGraw-Hill Education
- PowerSchool Group LLC
Education Technology Market Recent Developments
- In March 2022, The Bruhat Bengaluru Mahanagar Palike (BBMP) school in Bangalore has added 60 digital classrooms and seven computer labs, each with 20 computers. This initiative would assist teachers in teaching students using 3D digital models, thereby improving education and gaining a better understanding of the concepts.
- In January 2022, Texthelp Ltd., a well-known assistive technology provider in the EdTech market, launched OrbitNote, a pdf-enabled app that allows visually impaired students to access documents by leaving voice notes.
- In January 2022, zSpace, Inc., a U.S.-based EdTech firm that provides hybrid or remote learning, launched a new AR/VR learning device that will assist students in engaging with multidimensional content in a virtual world without the use of glasses.
Education Technology Key Market Trends
- The classroom learning experience has changed dramatically since the advent of Virtual Reality (VR) and Augmented Reality (AR) into education. AR enhances real-world experiences by utilizing images, videos, and interactive data. AR can be experienced via portable devices such as smartphones or smart glasses. VR offers a fully manufactured immersive 3D experience. It gives people the impression that they are in a genuine environment. VR headsets allow users to experience authentic sounds and vivid images in a digital environment.
- Gamification is another innovative trend in educational technology. In recent years, it has become an essential part of schooling. To enhance student or learner engagement, the gamification method employs a variety of tactics, activities, badges, and prizes. Learners play educational games to gain experience in a variety of academic subjects and receive points or rewards for accomplishing the objectives. They compete with one another to achieve certain objectives or goals. The difficulties and incentives encourage learners to stay engaged in the learning process. Learners will find the information more enjoyable and engaging if it is presented in a game-like format.
- Artificial intelligence applications are also being explored in the EdTech area. Teachers may use AI to tailor a student's learning experience, make classes more accessible, and boost memory retention. It can also assist instructors in automating different procedures so that they can spend more one-on-one time with students.
Education Technology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
As per our analysis, the edtech sector has gained traction amid the pandemic as innovators and governments have invested billions of dollars into the education sector. Online learning apps are becoming increasingly popular, with millions of users worldwide. Other types of edtech, such as e-textbooks, curriculum management software, administration, and communication platforms, have been enhanced. In addition, the cost of EdTech devices and the internet data required to use them has decreased. Furthermore, edtech and smart classroom solution providers, as well as other telecom companies and the government, have worked hard to ensure that low-income students can participate in online classes.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 108.63 billion |
| Market size value in 2031 | USD 388.81 billion |
| Growth Rate | 13.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Education Technology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Education Technology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Education Technology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Education Technology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Education Technology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Education Technology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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