The latest market publication titled Education Technology (EdTech) Market Size, Share and Trends Analysis Report by Region, End User, and Segment Forecast, 2022-2026 has been added to the report store by GlobalData Plc. The education technology market size valued at USD 183.4 billion in 2021. Factors such as the surge in disposable income of families coupled with government initiatives across economies to provide technically advanced education facilities to students are anticipated to influence the Edtech market to garner a CAGR of 16% during 2022-2026.
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The edtech market growth in the forthcoming years will also be driven by the growing adoption of AI and the rising popularity of technology in education delivery. Furthermore, health emergencies have further driven online education. Technological solutions such as mobile apps can compensate for the lack of laptops in classrooms, potentially narrowing the digital gap between rural and urban schools. However, the EdTech Market might witness challenges including China’s struggles with the adoption of EdTech might limit the market’s growth. All parts of the education mix must respond to the significant changes accelerated by the pandemic. In the US, changes in the ownership of online provision in higher education have altered the landscape, which will also impact the market’s growth.
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Education Technology Market Segment Highlights
- K-12: The K-12 segment held the largest education technology market share in 2021. The segment will continue to account for the largest market share throughout the forecast period. Technology will not replace traditional methods of learning but will enhance them. Most global education experts think that digital learning will be central to teaching in the coming years.
- Corporate Workforce
- Asia Pacific: The Asia Pacific regional segment is projected to witness the highest CAGR due to considerable growth in China, India, and Japan. Favorable government initiatives coupled with the increase in the number of venture funding by private investment firms are expected to regional drive market growth. Increasing consolidation among Edtech companies in the Asia Pacific region is also expected to impact industry growth during the forecast period.
- North America
- Middle East & Africa
- Central & South America
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Education Technology Market Competitive Landscape
EdTech is an extremely fragmented market characterized by well-known established hardware vendors, and software & services players. Edtech vendors are engaged in strengthening their customer base through M&A.
Top EdTech Technology Market Players
- Alphabet Inc.: The company is involved with investments in infrastructure, data management, analytics, and AI. In September 2022, Google partnered with Instructure, one of the leading companies in the Edtech market, to provide Elevate Data Sync, a comprehensive solution to address the needs of integration gap for Google Classroom users.
- Course Hero Inc.: Course Hero Inc offers a digital learning platform that provides online educational resources, including crowd-sourced study documents, expert tutors, and customizable flashcards. In March 2022, Course Hero, an online learning platform that offers course-specific study resources, acquired Scribbr, a proofreading and editing service for academic writing for an undisclosed amount.
- Coursera Inc.: The company offers a wide range of learning programs, courses, recorded video lectures, and peer-reviewed assignments. In September 2022, Coursera expanded Clips, which now provides employees access to nearly 200,000 short videos and lessons. In August 2022, the company partnered with Coursera to provide an integration partnership.
Other Top Market Players Covered in the Report are:
- Duolingo Inc.
- Instructure Inc.
- Kahoot! AS
- Microsoft Corporation
- Pearson Plc
- Sorting Hat Technologies Pvt Ltd
- Udemy Inc.
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