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The edtech market size is estimated to grow at a CAGR of 13.61% between 2022 and 2027 and the size of the market is forecast to increase by USD 108.98 billion. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by type (hardware, content, and software), sector (K-12, higher education, and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
The learners shifting toward eBooks is driving growth in the edtech market. Distributors, internet bookstores, and makers of tablets have elevated standards of the computerized fate of the book business. Amazon has secured itself as one of the central parts in the US by sending off a progressive electronic perusing gadget that simplifies it for clients to buy books at sensible costs. Individuals have been constrained into changing to electronic course books by the Coronavirus pandemic. In 2020, there was a lockdown, and it were closed down to distribute units. The reception of digital books expanded because of the adaptability and straightforwardness digital books offer, likewise, individuals were stuck at home during the lockdowns, and they read digital books during their extra time without different choices like those presented by open air games. Such factors will increase the market growth during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
2U Inc. - The company offers edtech such as Professional Certificates, MicroBachelors, MicroMasters, and Boot Camps.
The edtech market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the overall global edtech market, owing to the presence of well-established infrastructure and the ready adoption of advanced technologies among educational institutions and students. In this region, the US has been the major adopter of digitization, which makes the country a significant contributor to market revenue. In this region, the fast adoption of smart learning systems by educational institutions is facilitated by the presence of a high level of Internet infrastructure. In addition to hosting and cloud services, the software solutions introduced by vendors are increasingly available.
The market share growth by the hardware segment will be significant during the forecast period. The Edtech hardware segment includes educational, personal computers (PCs), interactive displays, classroom wearables, sound systems, projectors, and lecture capture solutions. There is an immense large proportion of university students, there is a huge increase in the adoption of personal computer devices such as desktops and laptops.
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The hardware segments show a gradual increase in the market share of USD 27.14 billion in 2017 and continue to grow by 2021. Technology-enabled classrooms often require computing devices to facilitate information access and dissemination. Digital displays with touch screens in classrooms have also been adopted by a large number of higher education institutions. The market for educational technology products that are available in schools is gaining momentum, ranging from flatscreen TVs to interactive whiteboards and projectors. Document cameras have also gained traction, owing to their benefits. Such factors will increase segment growth during the forecast period.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased demand for distance learning is a primary trend in the edtech market. Online learning has shown critical development throughout the past ten years. Instructive organizations have embraced the Web to furnish individuals with the chance to acquire new abilities. Since the Coronavirus flare-up, web based learning has become more driven in individuals' lives. The pandemic has constrained schools, colleges, and organizations to work from a distance, which prompted an expanded interest in the web or distance learning. Besides, the reaction from instructive foundations in the beginning stage of Coronavirus zeroed in on carrying out remote learning modalities as a crisis reaction. The reaction from instructive organizations has additionally been becoming as the pandemic creates.
Moreover, in countless wards, schools are currently either somewhat or totally open. The pandemic has made it feasible for understudies and experts to take online courses from driving colleges and organizations. By permitting admittance to flows through the Web, top colleges are democratizing instruction. Stanford College and Harvard College give admittance to online courses under the classes of software engineering, designing, arithmetic, business, workmanship, and self-improvement. This has prompted the developing fame of distance realizing, as would be considered normal to fuel the development of the worldwide EdTech market during the figure time frame. Such factors will increase the market growth during the forecast period.
The availability of open-source learning content is a major challenge in the edtech market. The COVID-19 pandemic has suspended the extremely old practice of visiting schools to learn. School and college homerooms are presently on workstations and cell phone screens, and the Web has supplanted actual books. Before the pandemic, colleges overall were offering huge open web-based courses as an enhancement to eye-to-eye educating and learning.
It was therefore very hard, for example, to reopen educational institutions in poor parts of the world. Subsequently, there is a higher opportunity that understudies from the least fortunate families wouldn't have the option to get to schooling due to their absence of Web association, which fuels currently profound instructive imbalances. Online schooling needs to turn out to be more comprehensive, which has prompted the development of open-source learning content. Colleges and establishments are offering either liberated from cost or charging an exceptionally least sum for these courses. Subsequently, the quantity of understudies who are progressively hoping to work on their schooling to have the option to go to uninhibited or open-source courses has developed and is accordingly expected to antagonistically affect the by and large instructive innovation market over the gauge period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Edtech Market Customer Landscape
The growth of the edtech market in North America in 2020 was driven by the outbreak of the COVID-19 pandemic, which stimulated the growth of companies offering videoconferencing, digital content, virtual classrooms, and educational technology. However, the adoption of vaccination drives have reopened schools leading to a slight decline in demand for Edtech solution in 2021, the market in focus is expected to continue to witness a change as new products are developed with an emphasis on providing customers with a more customized and individualized learning experience, thus driving the growth of the regional market during the forecast period.
The edtech market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Edtech Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.61% |
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Market growth 2023-2027 |
USD 108.98 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
13.37 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
2U Inc., Alphabet Inc., Anthology Inc., Chegg Inc., Cornerstone OnDemand Inc., Coursera Inc., D2L Corp., edX LLC, Ellucian Co. LP, Instructure Holdings Inc., Microsoft Corp., Oracle Corp., PleIQ Smart Toys Spa, Promethean World Ltd., Think and Learn Pvt. Ltd., Udacity Inc., UOL EdTech, upGrad Education Pvt. Ltd., Warner Bros Discovery Inc., and Workday Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Sector
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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