The Global EdTech Market
The global EdTech market is segmented on component (Hardware, Software: Learning Management Systems, Student Information Systems, Classroom Management Systems, Classroom Assessment Systems), deployment type (Cloud, On-premise, Hybrid), end-user (K-12 institutes, Higher-education institutes), and geography (North America, Europe, Asia-Pacific)
Introduction
The global EdTech market is a contributing segment of the worldwide Education market. From a top-down perspective, Strategy Here has analyzed the global Education market as a parent market to set the context in which the global EdTech materials market will be analyzed.
The EdTech market is one of the fastest-growing markets today. It has been fueled by the spread of the pandemic as students all over the world have resorted to online learning. As a result, a number of unicorns have emerged in the EdTech space, catering to different categories such as Higher-education and K-12 education.
Table of Contents
Market Overview
The Global EdTech market is expected to grow to $404 Billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 16.3% CAGR.
The EdTech industry is registering a high CAGR due to its increased penetration post Covid-19 and the rise in online learning.
The US has the highest number of EdTech enterprises
Key Trends
Adaptive and Personalized learning :
Online learning platforms offer a flexible learning environment by empowering students to learn at their own pace and also help educators to make learning more engaging and collaborative by leveraging digital tools.
Increased stress on engagement:
EdTech products today are duty-bound to engage a student to the extent that the student feels naturally inclined to learn more and engage with peers for gaining knowledge.
Key Market Players
Education technology is a growing, but highly fragmented market made up of both Fortune 500 companies and startups. The United States has the largest number of EdTech startups. The categories into which the market players fall are:
Pre-K12- early childhood educators
K12- online learning platforms, online tutoring, language learning, curriculum production, and search tools
Higher Education- online platforms, enterprise learning, next-gen schools
Upskilling- Corporate skilling, advanced technology learning platforms
Technology Providers- learning management system, school administration tools
Growth Drivers and Challenges
Increasing population: Emerging economies to lead the demand for online learning.
Convenience: More need for educational technology, tools, and services due to these solutions' ease of learning experience.
Rising issues such as student debt & lowering test scores: Eliminating the downsides of traditional education will create demand for EdTech since education from top institutions can be provided online & the use of AI, ML in education helps to provide an individualized learning experience to students.
Lack of universal accessibility: Given the lack of seamless and uniform internet facilities across the globe, it is difficult to seek universal accessibility of education via technology, especially in emerging economies of LATAM & Africa
Difficulty in securing funding: Ed-tech startups face a competitive market for capital funding. There used to be generous funding within this industry, but the saturated market has thinned out government backing.