Edtech Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Germany, China, Canada, Japan - Size and Forecast 2024-2028

Edtech Market Size 2024-2028 

The edtech market size is forecast to increase by USD 162.7 billion, at a CAGR of 16.82% between 2023 and 2028. The education landscape is undergoing a significant transformation with the increasing preference for digital learning materials. The shift towards eBooks is becoming more pronounced as they offer numerous advantages, including accessibility, affordability, and convenience. Furthermore, the emergence of virtual schools has accelerated this trend, enabling students to learn from anywhere at any time. The number of e-learning enrollments has surged in recent years, reflecting the growing popularity of this mode of education. Virtual schools provide a comprehensive learning experience, with interactive tools, multimedia content, and opportunities for real-time collaboration. This paradigm shift in education is set to continue, with digital learning set to become the norm in the near future.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

Educational Technology, also known as Edtech, refers to the use of digital tools and technologies to enhance and improve the learning experience. This market encompasses various segments, including online learning platforms, educational apps, digital learning tools, and remote learning solutions. The Edtech market is witnessing significant growth due to the increasing demand for personalized learning experiences and the digital transformation in the education sector. Artificial Intelligence is playing a crucial role in Edtech, providing students with customized learning paths and enabling educators to monitor progress and provide feedback in real-time. The corporate training space is also embracing Edtech, with upskilling and professional development programs becoming increasingly popular.

Hardware, such as laptops, tablets, and interactive whiteboards, are essential components of Edtech. Virtual classrooms and e-learning platforms offer flexibility and convenience, allowing students to learn from anywhere at any time. Digital content, including eBooks and multimedia resources, is replacing traditional printed content in many classrooms. The market caters to diverse learning needs, including languages, physical disabilities, and various learning styles. Digital content is available in various formats, including audio, vocabulary, and interpretive reading, making education accessible to a broader audience. Integrated facilities solutions, including facility scheduling, further streamline the educational experience. The Edtech market is expected to continue growing, offering innovative solutions to meet the evolving needs of educators and learners alike.

Key Market Driver

Learners shifting toward eBooks is notably driving market growth. The market encompasses a range of digital tools designed to enhance and transform the learning experience for educators and students. Online learning platforms and educational apps have emerged as popular solutions for remote learning, providing personalized learning experiences through Artificial Intelligence and adaptive learning. In the corporate training space, digital transformation has led to the adoption of e-learning platforms, interactive displays, tablets, and laptops for upskilling and reskilling. Cloud Deployment and Services enable easy access to these resources, while hardware such as interactive whiteboards, virtual reality headsets, and learning management systems further enhance the learning experience.

Further, the COVID-19 pandemic has accelerated the digital transformation in education, bridging the digital divide and addressing infrastructure challenges through hybrid learning models. Edutainment, gamification, data analytics, and learning analytics are also gaining popularity, with tools like Zoom Video Communications facilitating interactive and engaging virtual classrooms. The Business end-user segment and Consumer end-user segment are both embracing these digital solutions, making the Edtech Market a dynamic and evolving space. Mobile Learning and Microlearning are additional trends, offering flexibility and convenience to learners. Thus, such factors are driving the growth of the market during the forecast period.

Key Market Trends

Increased demand for distance learning is the key trend in the market. The educational technology sector has witnessed remarkable growth over the past decade, with digital tools and online learning platforms becoming essential components of modern education. The COVID-19 pandemic further accentuated the importance of digital learning, as educators and institutions shifted to remote models to ensure continuity in learning. Corporate training spaces also underwent digital transformation, with upskilling and reskilling becoming crucial for businesses. Digital learning tools such as interactive displays, tablets, laptops, and cloud deployment services have become indispensable. Furthermore, innovative technologies like artificial intelligence, virtual reality, gamification, adaptive learning, and chatbots have enriched the educational experience.

In the consumer end-user segment, mobile learning and microlearning have gained popularity. Data analytics and learning analytics have emerged as valuable tools for personalized learning experiences. Despite these advancements, infrastructure challenges persist, particularly in the digital divide. Hybrid learning models, combining physical and virtual classrooms, are gaining traction as a potential solution. In the business end-user segment, Zoom Video Communications has become a leading platform for virtual meetings and online classes. Overall, the edtech market is evolving rapidly, offering interactive, immersive, and engaging learning experiences. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Availability of open-source learning content is the major challenge that affects the growth of the market. The market is experiencing significant growth due to the increasing adoption of digital tools by educators and learners alike. Online learning platforms and educational apps have become essential for remote learning solutions, offering personalized learning experiences through Artificial Intelligence and adaptive learning. The corporate training space has also undergone digital transformation, with upskilling and reskilling initiatives being delivered through e-learning platforms, interactive displays, tablets, and laptops. Cloud Deployment and Services have enabled the accessibility of digital learning tools from anywhere, anytime. The COVID-19 pandemic has accelerated this trend, with the closure of physical educational institutions leading to a surge in the use of virtual reality headsets, learning management systems, and virtual reality for immersive learning experiences. Gamification, data analytics, and chatbots have also gained popularity in the EdTech market.

However, the availability of open-source learning content poses a challenge to market growth. Infrastructure challenges, particularly in economically poorer regions, hinder the implementation of hybrid learning models, exacerbating the digital divide. The Business end-user segment, including corporations and educational institutions, and the Consumer end-user segment, including individuals, are the primary markets for EdTech. Zoom Video Communications, Mobile Learning, Microlearning, and Virtual level have emerged as key players in this space. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies 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, Boot Camps.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Alphabet Inc.
• Anthology Inc.
• Chegg Inc.
• Cornerstone OnDemand Inc.
• Coursera Inc.
• D2L Inc.
• edX LLC
• Ellucian Co.
• 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.
• Workday Inc.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Type 

The  hardware segment is estimated to witness significant growth during the forecast period. The Educational Technology market encompasses a range of digital tools designed to enhance learning experiences for educators and students. Online learning platforms and educational apps are increasingly popular, enabling remote learning solutions and personalized learning experiences. Artificial Intelligence plays a significant role in this space, with applications in corporate training and upskilling/reskilling. Interactive displays, tablets, and laptops are essential hardware components, facilitating Cloud Deployment and Learning Management Systems. Virtual reality headsets, interactive whiteboards, and virtual levels offer immersive learning experiences.

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The hardware segment was the largest and was valued at USD 30.60 billion in 2018. The COVID-19 pandemic has accelerated digital transformation in education, highlighting the digital divide and infrastructure challenges. Hybrid learning models combining in-person and online instruction are gaining traction. Edutainment, Gamification, Adaptive learning, Data Analytics, Learning Analytics, Chatbots, and Hardware are other key areas of focus in the Edtech market. Companies like Zoom Video Communications and Mobile Learning have made significant strides in the Business end-user segment, while the Consumer end-user segment benefits from Microlearning and affordable educational apps.

Regional Analysis

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North America is estimated to contribute 35% 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.The edtech market encompasses classrooms equipped with digital content, replacing traditional printed content. This shift caters to various learning needs, including those with language barriers and physical disabilities. Digital content comes in various formats, such as eBooks, audio, and multimedia, enhancing interpretive reading and vocabulary expansion. Integrated facilities solutions offer facility scheduling and work orders, while Internet of Things (IoT) and Artificial Intelligence (AI) technology optimize learning environments. Big data and adaptive learning platforms personalize education, catering to the preschool, business, consumer, and on-premises segments. Venture capitalists invest in game-based learning and AI technology to create immersive educational experiences. Data privacy norms ensure secure handling of student information in smart classrooms, featuring animations, graphics, audio, and video.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Type Outlook
  • Hardware
  • Content
  • Software

• Sector Outlook
  • K-12
  • Higher education
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

Educational Technology, also known as Edtech, refers to the use of digital tools and technologies to enhance and transform the education sector. This market encompasses various solutions such as online learning platforms, educational apps, digital learning tools, remote learning solutions, e-learning platforms, personalized learning experiences, and more. Artificial Intelligence (AI) plays a significant role in Edtech, providing adaptive learning, chatbots, and data analytics to create customized learning experiences. The corporate training space and consumer end-user segments are major contributors to the market. Digital transformation, upskilling, and reskilling are key drivers, with businesses investing in interactive displays, tablets, laptops, and Cloud Deployment Services for their employees. In the consumer segment, the trend is towards mobile learning, microlearning, and interactive whiteboards. Virtual reality (VR) and gamification are also gaining popularity, offering immersive learning experiences.

However, challenges such as the digital divide and infrastructure limitations persist. The COVID-19 pandemic has accelerated the adoption of Edtech, with remote learning solutions becoming essential. Hybrid learning models, combining traditional and digital methods, are also on the rise. VR headsets, learning management systems, and virtual levels are other emerging technologies transforming the Edtech landscape. Zoom Video Communications has been a significant player in the remote learning space, enabling interactive and collaborative learning experiences. The future of Edtech is bright, with continuous innovation and advancements in technology set to revolutionize the way we learn.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies