The latest research study “Edtech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global edtech market size reached US$ 194.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.
Education technology (EdTech) represents a technology that is used to deliver education on a virtual level. It consists of software and hardware that are used to provide education for the benefit of students and improve their education outcomes. The utilization of technology for learning and teaching assists students in overcoming hurdles to obtain a comprehensive education. In line with this, digital content is easier to generate than printed content, which has a higher production cost. Consequently, eBooks are gaining extensive traction among learners, owing to their flexibility, cost efficiency, portability, etc. As such, listeners with disabilities can benefit from audio formats of educational content to enhance their vocabulary and learn to read interpretively.
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Edtech Market Trends and Drivers:
The widespread adoption of touchscreen displays over projector-based displays to provide more student engagement, on account of the increasing digitization in the education sector, is primarily driving the edtech market. Additionally, the growing utilization of machine learning (ML) and artificial intelligence (Al) technologies for creating personalized eLearning experiences is further catalyzing the market growth. Besides this, the rising penetration of high-speed internet and the escalating demand for smart devices are acting as significant growth-inducing factors. Moreover, continuous investments in online learning and distance learning programs to offer flexibility and real-time feedback are positively influencing the global market. Apart from this, the inflating disposable income levels of individuals and extensive R&D activities are also augmenting the market growth. Furthermore, the elevating need for digital learning is anticipated to fuel the edtech market over the forecasted.
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Edtech Market Report Segmentation:
List of Major Key Players:
The major players in the market are
- 2U Inc., BYJU'S
- Chegg Inc.
- Class Technologies Inc.
- Coursera Inc.
- Edutech
- Google LLC (Alphabet Inc.)
- Instructure Inc.
- Lenovo Group Limited
- SMART Technologies ULC (Hon Hai Precision Industry Co. Ltd.)
- Udacity Inc. and upGrad Education Private Limited.
The report has been segmented the market into following categories:
Breakup by Sector:
- Preschool
- K-12
- Higher Education
- Others
Breakup by Type:
- Hardware
- Software
- Content
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by End User:
- Individual Learners
- Institutes
- Enterprises
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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