Education Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Education Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : December, 2022 | Technology & Media

Report Digest

Education Technology Market: Overview

The education sector has seen a seismic shift in terms of technological advancements over the years. The large influence of digitalization on the education sector has led to massive inventions and the introduction of new technologies. The heightening influence of adopting education technology among many individuals will serve as a key growth booster for the education technology market across the assessment period of 2020-2030.

Education technology, commonly known as EdTech is an umbrella term used for describing a wide range of learning-related software and hardware that are used for facilitating collaborations in active learning environments. The growing importance of technology in education is bringing great growth opportunities for the education technology market.

The heightening influence of education technology in preschool, K-12, higher education, competitive exams, and others will bring promising growth opportunities. The education technology market can be segmented into business-oriented and consumer-oriented in terms of end-users. The technology mainly focuses on the hardware, software, and content.

Education Technology Market: Competitive Insights

The education technology market is highly fragmented. The entry of new players in the education technology market due to the increasing demand has intensified the competition among the players. Many new players are coming up with novel technologies to gain good revenues.

The players are gearing up for funding initiatives that will help them in enhancing the product and spend more on research and development activities for innovations. Many players in the education technology market like Byju’s have received funding for accelerating their growth. Byju’s recently received a funding of $460 mn, making its valuation slightly more than $13 bn. Teachmint, an EdTech startup raised $16.5 mn in funding.

Major players in the education technology market are;

  • Coursera, BYJUs
  • upGrad Education Pvt. Ltd.
  • edX Inc.
  • Chegg, Inc.

Key Trends

Pandemic Leveling Up the Growth of the Education Technology Market

The COVID-19 pandemic is accelerating the growth across the education technology market. EdTech platforms were already gaining considerable traction and the pandemic served as a big booster for the growth of the education technology market. Traditional classrooms were swiftly replaced by virtual classrooms and the rest is history. The advancements in the education technology market and the massive funding received by the players are leading the market toward profitability. The education technology market will not see much decline in growth even after the pandemic subsides as many parents are finding convenience in online education.

Government Initiatives to Bring Promising Growth for the Education Technology Market

The government bodies of numerous countries are focusing heavily on the promotion of digital education. Many countries are framing regulatory laws to boost digitization in the education sector. For instance, the Indian Government will have a novel autonomous body known as the National Educational Technology Forum (NETF) for providing evidence-based advice to government agencies on tech-based interventions in the education sector.

The Affordable Broadband Act in the U.S. was recently reintroduced again the house for discussion. This act will provide more than US$ 90 bn in funding that will help in expanding the broadband infrastructure in underserved communities. The expansion of the broadband infrastructure will give a much-needed boost to the educational technology sector, eventually increasing the growth prospects.

Education Technology Market: Regional Aspects

North America’s education technology market is estimated to grow at a rapid rate across the assessment period of 2020-2030. The emergence of startups related to education technology in the region will serve as a vital growth factor. Asia Pacific’s education technology market will also observe promising growth during the forecast period.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?