Global Education Technology Market Size, Share, Value, CAGR, Outlook, Analysis, Updates, Data 2021-2027
The global Education Technology (EdTech) market was valued at US$103.92 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 17.2% between 2022 and 2029. This robust growth is mainly due to the COVID-19-induced shift towards digital learning and the subsequent availability of high-quality content on e-learning platforms.
AgileIntel’s global Education Technology market study is a 152 slide report containing in-depth analysis on historical and forecasted spending patterns in the sector. The study offers granular value data from a global, regional, sector, and type perspective.
Request for Sample Copy of this Report @ https://www.agileintelresearch.com/reportdetails/Global-Education-Technology-Market/8#popup
The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029.
Insights by Sector:
The Education Technology market is categorized into Preschool, K-12, Higher Education, and Others based on sectors.
The growing awareness about the merits of e-learning systems and integration of advanced technologies in education systems is driving the growth of the global Education Technology (EdTech) market. The market is in different stages of maturity in the developed and developing world. While countries such as the U.S., the U.K, and Germany have been early adopters of this technology and are now focusing on product innovation, developing economies such as India are using it to combat the pandemic-induced lockdowns.
The K-12 segment held the largest revenue share of the EdTech market in 2021. Technological advancements in this sector have enabled players to provide engaging content and experiences such as virtual field trips and lab-based experiments. Further, it integrates advanced technologies with education to establish a quality and customized learning curriculum for kindergarten to 12th grade.
The preschool segment is the fastest growing and is expected to continue doing so during the forecast period. Industry players are developing app-based learning with videos and curated content to engage and encourage preschool students. Moreover, technological advancements allow teachers to collect and assess worksheets directly on a mobile app, reducing the use of pen and paper.
Insights on Regional Growth:
North America is the largest regional market, capturing 37% market share for EdTech products and services in 2021 and is expected tocontinue to dominate during the forecast period as well. As the EdTech sector matures, major players are expected to attract huge investments giving them an edge over new entrants.
The Asia-Pacific is expected to be the fastest-growing region in the global EdTech market during the forecast period. This can be attributed to the growing usage of smartphones and devices in countries such as India, China, Indonesia, and South Korea and also affordable bandwidth connectivity, enabling users to experience virtual learning. Moreover, government authorities in most of these countries are investing extensively in the latest technologies to assist skill development. For instance, the Government of India’s ‘Pradhan Mantri e-Vidya’ scheme was launched in May 2020, to encourage EdTech start-ups.
Insights on Key Markets:
The EdTech market in the U.S. was valued at US$32.1 billion in 2021 and is witnessing huge investments from private equity investors and venture capitalists. In 2018, the EdTech companies in the country raised funding worth more than US$1.50 billion, which increased by 16% in 2019 to a value US$1.7 billion. Meanwhile, in 2020, EdTech startups raised over US$ 2.2 billion in venture and private equity capital across 130 deals. This sustained increase in funding and investment is one of the main factors driving the market growth.
Meanwhile, China is the largest market for EdTech in the Asia Pacific, primarily driven by increasing adoption in the K-12 and higher education sectors. The Chinese EdTech market was valued at US$ 7.9 billion in 2021.
Impact of COVID-19
The Education Technology market witnessed an uptick during the COVID-19 pandemic primarily due to the temporary shutdown of educational institutions globally. For instance, as per a UNESCO report, over 90% of the students across the world could not attend school due to the pandemic.
The pandemic has encouraged educational institutes and governments to build robust distance learning solutions to enhance online learning practices.
For More Detail @ https://www.agileintelresearch.com/reportdetails/Global-Education-Technology-Market/8
About Us:
AgileIntel is a provider of smart and actionable global market research across various sectors. We established the company after identifying a growing demand from clients for a different, more bespoke, considered and personalised approach to market research. Our mission is to help our clients get a better understanding of industries, companies and consumers to make informed business decisions and respond confidently to an evolving marketplace.
Contact Us:
Mr. Jason Victor
Skype ID: ChemIntel360
mail Id: mumbai@agileintelresearch.com
