Global Education Technology Market by End User (Consumer, Business), by Sector (K-12, Preschool, Higher Education), by Type (Software, Hardware) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global education technology market was valued at USD 99.5 billion in 2020. It is expected to grow at a compound annual growth rate of 19.9% between 2021 and 2028. Digital technology can increase access to education. Learners are shifting to eBooks, which can be accessed from any location around the world. It is much easier to create digital content than printed content which can be more expensive to produce. Digital books can be translated into many languages and retrieved easily by a larger user base. A digital format allows learners with disabilities to listen to educational content to enhance their vocabulary and facilitate better interpretation.

The market will continue to grow as EdTech solutions for education technology (EdTech), are expected to keep pace with technological advances such as the Internet of Things, Artificial Intelligence and Augmented Reality (AR), Virtual Reality (VR) and Virtual Reality (VR). AR and VR integration in EdTech solutions allows for interactive learning. This allows students to explore abstract concepts and connect with them, thereby increasing student engagement. The integration of Blockchain technology allows end users to store and secure records about students and learners. This allows educators to analyze learners' usage patterns and make data-driven decision-making.

Education professionals are increasingly concerned about student engagement. Market players have responded to these concerns by creating interactive whiteboards that are more interactive than traditional projector-based displays and switching to touchscreen displays. These initiatives encourage active learning and develop critical readiness skills in learners. Both educators and learners have access to Student Information Systems (SIS). This system allows them to create comprehensive student profiles. It can help educators make informed decisions, with a special focus on enhancing each student's performance.

EdTech solutions can store personal information of learners. Market players should adhere to the data privacy and copyright norms when introducing new EdTech products. All universities that receive funds from the U.S. Department of Education must comply with the FERPA or PPRA Acts. FERPA aims at protecting student records, while PPRA focuses on protecting students' personal information gathered via surveys. The General Data Protection Regulation (GDPR) covers EdTech companies in the European Union (EU). This regulates the processing and access to users' data by all organizations that handle large amounts of information.

Sector Insights

K-12 segment dominated the market in 2020, accounting for 41% of the total revenue. It will continue to hold the top spot and expand at a steady CAGR between 2021 and 2028. This high share can be attributed largely to the increasing popularity of game-based learning within the K-12 sector. Most teachers in the K-12 sector are supportive of gamification to improve students' math skills through the integration of project-based, practical work in schools. This sector also allows immersive content to be created and offers experiences such as lab-based experiments and field trips. Tencent Classroom, a Chinese e-learning centre, reported in April 2020 that more than 80% of K-12 students (approximately 733,000) had accessed their school classes via the Tencent K-12 Online Schools in Wuhan, China.

From 2021 to 2028, the fastest CAGR is expected in the preschool sector. Technological innovation has allowed educators to collect assessment data on mobile devices. This reduces the need for paper and pen. Some assessments eliminate data entry, allowing children to respond directly via touch-screen enabled devices. Market leaders are offering a variety of solutions to their customers, including app-based learning with videos, curated content and video lessons.

End-user insights

In 2020, the business segment accounted for 69% of global revenue. This high share can be attributed largely to the increase in partnerships between EdTech firms, educational institutions, and content developers, which has created significant opportunities for digital education. Partnerships and collaborations have become a crucial part of this emerging ecosystem. Ambow Education announced in November 2020 a partnership with Cisco International. Cisco International specializes in Career Education, Training, and Certification. This partnership was designed to provide high-quality online courses as well as certification in the internet and IT for college students and professionals.

Over the forecast period, the consumer segment will experience the fastest CAGR. This segment is expected to grow as parents and students become more aware of the advantages of digital education over traditional education. Adults and corporate workers are increasingly interested in lifelong learning. This is because it allows them to learn at their own pace and from anywhere they choose. Massive Open Online Courses, or MOOCs, are becoming more popular because they offer affordable online education.

Type Insights

In 2020, the hardware segment accounted for 42% of global revenue share. This high share can be attributed largely to digital classrooms becoming more prominent in the education sector. Interactive whiteboards, for example, are becoming more popular as they offer a better experience. You can use them to create and share notes, dry-erase surfaces, digital pen, software for communicating, and other multi-touch features. They allow users to share and save notes between digital devices such as smartphones, tablets, and laptops.

This segment is expected to experience the fastest growth rate over the forecast period. EdTech is seeing innovation in content delivery through the use of advanced visualization technologies. This can be attributed in part to the numerous e-learning portals that offer better educational content, such as study notes, test prep materials, question banks and learning videos. The Western Cape Government (South Africa), offers an elearning portal that contains different resources in Afrikaans and English, which can be used by students and teachers. The Ministry of Education of the People's Republic of China also offers the National Cloud Platform for Educational Resources and Public Service, which provides educational resources for students in primary and secondary schools.

Regional Insights

North America was the dominant market in 2020, accounting for 37% of global revenue. Due to the large number of investments by venture capitalists in the EdTech sector in America, the regional market will continue its dominance for the duration of the forecast period. In fact, in 2020, the U.S. education technology start-up companies raised funding in excess USD 2.2 billion. Companies with significant revenue growth will be able to attract more funding and stand out from new market entrants as the sector matures.

Asia Pacific will experience the fastest CAGR at 22.6% between 2021 and 2028. This is due to increasing internet usage and smart devices. Many companies have been reaching out to people in developing countries like India over the past few years due to affordable broadband connectivity. Education stakeholders in developing countries are also increasingly looking at technology to bridge the gaps between their educational infrastructures and teaching resources.

Market Share Insights & Key Companies

The market's top companies are focused on increasing their customer base and gaining a competitive advantage through strategic initiatives such as partnerships, mergers and acquisitions, collaborations and new product/technology developments. McGraw Hill, an American educational company, partnered in July 2020 with TutorMe, LLC, a U.S.-based education service provider, to provide free tutoring services for college students. The Los Angeles Unified School district (LAUSD), partnered with Public Broadcasting Service, (PBS), to provide customized educational programming for students on three broadcasts over-the-air and a variety of digital options. The following are some of the most prominent players in the global EdTech (education technology) market:

• BYJU'S

• Blackboard, Inc.

• Chegg, Inc.

• Coursera, Inc.

• Edutech

• edX Inc.

• Google LLC

• Instructure, Inc.

• Microsoft

• Udacity, Inc.

• upGrad Education Pvt. Ltd.

Up Market Research published a new report titled “Education Technology Market research report which is segmented by End User (Consumer, Business), by Sector (K-12, Preschool, Higher Education), by Type (Software, Hardware), By Players/Companies upGrad Education Pvt Ltd, Blackboard Inc, Coursera Inc, Udacity Inc, Chegg Inc, Microsoft, BYJUS, edX Inc, Edutech, Instructure Inc, Google LLC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Education Technology Market Report Segments:

The market is segmented by End User (Consumer, Business), by Sector (K-12, Preschool, Higher Education), by Type (Software, Hardware).

Education Technology Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Education Technology Market

Overview of the regional outlook of the Education Technology Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Education Technology Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Education Technology Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Consumer

                2. Business

                1. K-12

                2. Preschool

                3. Higher Education

                1. Software

                2. Hardware

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Education Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Education Technology Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.