Global Education Technology Market is valued approximately USD 74.64 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 19.9 % over the forecast period 2020-2027. Education technology is a type of online learning that can be accessed from anywhere in digital form either through video lectures, e-textbooks, audio format or animated videos to make students learn in an interactive manner. Technological advances in the education sector, such as the Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality contribute towards the market growth. The major driver for Education Technology Market is the increase in online courses from top universities around the world. For instance, in 2020, Zhejiang University launched more than 5,000 courses online using “DingTalk ZJU”. In 2020, EdX launched MicroBachelors programs, a series of undergraduate online courses which will also provide real college credits and are job-ready courses. In April, 2021, O.P. Jindal Global University collaborated with Coursera to introduce 3 New Online Masters” Degree Programmes in Business, Public Policy and International Relations. Moreover, various initiatives launched by government of the respective countries to develop education technology are contributing to the market growth. For instance, in 2017, Indian Government launched Study Webs of Active Learning for Young Aspiring Minds (SWAYAM) initiative to develop & deliver Massive open online courses (MOOCs) through video lectures. However, flexible data privacy rules for students that hamper their personal information and lack of digital infrastructure in the developing nations impede the growth of the market over the forecast period of 2020-2027. Also, with the strict regulations by the authorities to safeguard personal data of students and integration of technology in the daily life, the adoption & demand for education technology is likely to increase.
The regional analysis of global Education Technology market is dominated by North America is the leading region among Asia Pacific, North America, Europe, Latin America and Rest of the World Asia Pacific, North America, Europe, Latin America and Rest of the World in terms of market share owing to establishment of the top educational universities and the demand for skill development courses in corporates has been coupled with the well-established Internet-of-Things (IoT) infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2020-2027. Factors such as large young population, investments by the EdTech companies and affordable broadband connectivity would create lucrative growth prospects for the Education Technology market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Education Technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers