EdTech Market Size to Reach Revenues of USD 605.40 Billion by 2027 – Arizton

dTech startups with the deployment of AR and VR are set to continue gathering investors’ interest since the market is still termed to be in the nascent growth stage with vast untapped business opportunities.

| Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence

Chicago, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The global edtech market is expected to grow at a CAGR of over 15.52% during the period 2021−2027.

Key Highlights Offered in the Report:

  1. The digital ecosystem has constantly brought a significant impact on the education sector. Technology has played a major role in education categories serving primary, secondary, and corporate training. The global edtech market holds an absolute growth of 137.60% during the forecast period.
  2. The fragmented market is compelling vendors to indulge in innovative teaching and learning methods. The market will witness an increased demand for customized e-learning modules.
  3. The concept of gamified learning is expected to gain traction by K-12 and higher education as it has the potential to address the issues of higher education and provide an innovative platform to engage more end-users.
  4. Technology played a vital role in retaining the quality of education and engaging end customers through applications like games, video learning, AI & AR.
  5. There is a dearth of adequate trainers and faculties both in terms of quality and quantity. While countries such as India, China, and Indonesia represent a significant potential market in terms of learners, there is a shortage of qualified and certified instructors, thus warranting the need for platforms that can facilitate a broader reach of the curriculum.
  6. Skill development is another focus area for governments with the long-term implementation of continuous e-learning programs, supplemented by instructor-led models. Ensuring the workforce's skill upgradation and better productivity will help countries build medium to long-term business competitiveness.

Key Offerings:

  • Market Size & Forecast by Revenue | 2021−2027
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by ed-tech type, sector, end-user, and geography
  • Competitive Landscape – 9 key vendors and 9 other vendors

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EdTech Market – Segmentation

  • Hardware is the most important infrastructure of the edtech market; players gain more than 40% of their revenue through the sales of their hardware in the form of interactive displays, SD cards, laptops, and tabs.
  • Increased federal budgetary allocations in the education sector as they invest in improving digital connectivity and ensuring high-quality education to subsequently acquire resource competitiveness. This has increased the reach of digital resources to the youth in key economies such as India and China. These emerging countries provide immense market potential as most markets are still untapped.
  • The growing demand for hybrid learning has also increased the demand for schools and universities to partner with edtech companies. Institutes are slowly shifting from tech-based platforms to cloud-based platforms.

EdTech Market by Ed-Tech Type

  • Hardware
  • Software
  • Technology Enabled Services

EdTech Market by Sector

  • K-12
  • Higher Education
  • Competitive Exams
  • Certifications

EdTech Market by End-user

  • Individual Learners
  • Institutes
  • Enterprises

EdTech Market – Dynamics

The increase in the usage of smartphones has simplified availing content and learning materials. An increase in disposable incomes and high internet penetration in developed and developing countries raised the demand for mobile learning. The importance of technology in education has brought a revolution in the education industry, making it more convenient for people across the globe to read and learn, thereby being more reliant on handsets like smartphones and tablets to pursue skills. The reduction of internet data rates across developing countries, increase in consumer income, and socio-economic changes have increased the demand for the internet. Therefore, the demand for edtech is expected to reach all new heights with the growing ease of access to information.

Key Drivers and Trends fueling Market Growth:

  • Growth in Gamification
  • Adoption of the Hybrid Model
  • Introduction of 5G Technology
  • Growing Investments by Private Equity & Venture Capital Firms

EdTech Market – Geography

The demand for edtech in North America is highly influenced by US market growth owing to the increasing trend of online courses and learning materials as a practical substitute for regular classroom teaching. This is driving the popularity and acceptance of e-learning solutions across all segments. The high average disposable income of the population, the rapid use of smartphones, and innovations in the development of interactive and gamified learning platforms are the main factors that are expected to fuel the market growth in terms of user base and subscriptions in the region. Factors such as the increase in the spending power of millennials, high adoption of smartphones, inclination toward new technology, and high urbanization are driving the growth of the edtech market in the region.

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EdTech Market by Geography

  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Latin America
    • Brazil 
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Nigeria
    • Kenya
    • Rest Of Middle East & Africa

Major Vendors

  • 2U Inc
  • BoxLight
  • Byju’s
  • Blackboard
  • Udemy
  • Coursera
  • Chegg
  • Duolingo
  • Unacademy

Other Prominent Vendors

  • UpGrad
  • VIP KID
  • Fujitsu
  • Promethean World
  • Ellucian
  • Red Shelf
  • Xello
  • Scoir
  • Kahoot

Explore our smart tech profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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