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The North America - education technology market size is estimated to grow at a CAGR of 13.37% between 2022 and 2027. The market size is forecast to increase by USD 42,987.69 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by end-user (business and consumer), and deployment (on-premises and cloud). This report also includes an in-depth analysis of drivers, trends, and challenges.
The emergence of virtual schools is the key factor driving the growth of the market. Virtual schools use a variety of online tools, such as online content and digital delivery formats. Content can be presented to students in a variety of formats, including video, animation, games, and audio. In addition, virtual schools also provide synchronous interaction methods between students and teachers. Additionally, the growth of virtual schools is supported by the availability of virtual communication tools, virtual laboratories, and simulated learning environments. Such technology providers help organizations to set up virtual classrooms. Therefore, all these factors are expected to increase virtual school adoption, thereby driving the growth of the North American education technology market during the forecast period.
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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 educational technology such as edX in-platform learning assistant, edX Xpert, and the edX ChatGPT plugin used by learners to discover career-relevant learning pathways, receive learning assistance, and get real-time support under its subsidiary edX Inc.
The education technology market in North America report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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.
The market share growth by the business segment will be significant during the forecast period. The growth of the business segment is driven by partnerships and collaborations between educational institutions, ed-tech companies, and content developers to create significant opportunities for providers operating in the North America - educational technology market.
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The business segment shows a gradual increase in the market share of USD 19,872.35 million in 2017. Partnerships and collaboration are becoming an increasingly important part of this growing ecosystem in North America. For example, in February 2022, Greenfield Community College (GCC) partnered with Upright Education to provide new technology and software development skills, including user interface (UI) and experience user design (UX). This partnership will help GCC students focus on self-employment and create a foundation for a career in technology training. These factors will drive the growth of the North America - education technology market business segment during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing inclination toward integrating AR, VR, and artificial intelligence (AI) in smart classrooms is the primary trend in the market. The ability of AR, VR, and artificial intelligence (AI) technologies to create rich learning environments for students makes them the clearest choice for improving the overall educational experience for students and teachers. Schools across North America have begun integrating virtual reality into technical subjects, including STEM and social sciences.
Besides augmented reality and virtual reality, another important emerging technology that is attracting the attention of several players in the education sector is AI. AI is anticipated to help close the gap between students who are falling behind by paying attention to appropriate lesson plans. Therefore, the integration of these emerging technologies is expected to drive the growth of the North American education technology market during the forecast period.
The availability of open-source learning content is a challenge that affects the growth of the market. Before the wake of the COVID-19 pandemic in 2020, universities across North America offered large-scale open online courses to supplement in-person teaching and learning. Due to the pandemic, the North American economy was directly affected. Therefore, reopening educational institutions in North America is quite difficult. This means that students from poorer families without internet access are more likely to be denied education, broadening already deep educational inequalities.
Moreover, online education needs to become more inclusive, which has led to the growth of open-source learning content. Universities and institutes offer these courses for free or charge a very minimal fee. This has increased the number of students opting for free courses or open-source learning content to upskill themselves educationally, which in turn, is anticipated to impede the growth of the market during the forecast 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.
North America Education Technology Market Customer Landscape
The North America education technology market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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North America Education Technology Market Scope |
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Report Coverage |
Details |
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Page number |
136 |
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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 13.37% |
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Market growth 2023-2027 |
USD 42,987.69 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
12.85 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Blackboard Inc., Chegg Inc., Coursera Inc., 2U Inc., Alphabet Inc., Instructure Holdings Inc., Microsoft Corp., Udacity Inc., ApplyBoard Inc., Think and Learn Pvt. Ltd., International Business Machines Corp., MAXHUB, PowerSchool Holdings Inc., Cornerstone OnDemand Inc., Simplilearn, Ellucian Co. LP, Skillsoft Corp., SkyPrep Inc., Promethean World Ltd., and Quizizz |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
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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