The global Education Technology market was worth 106.04 Billion US dollars in 2020 and is estimated that it will reach 377.85 billion US dollars by the end of 2026, registering a compound annual growth rate of about 19.9% between 2021 and 2026. Growing initiatives by the government to revolutionize education sector helps the growth of the market in the upcoming years.
Now a days, most of the learners across the world are moving towards eBooks which can be accessed through online from anywhere across the world since this digital technology can improve the access to education because the digital content is comparatively easy to generate than the printed content. These digital books are available in different languages and are easily accessible over internet and these are also available in audio format which will also help the users to improve their vocabulary and also to encourage better interpretive reading.
The growth of the global Education Technology market is due to the rising penetration of mobile devices and easy availability of internet users which helps the growth of the market during the significant period.
Other factors that support the growth of the global Education Technology market include benefits such as growing demand for EdTech across various regions of the world which helps the market to grow further. Furthermore, growing number of online teaching learning models to keep running education system and impact of COVID 19 pandemic are some of the major driving factors which propels the growth of the market.
However, enhancing student engagement, lack of digital infrastructure in the developing nations, flexible rules of data privacy are some of the restraints which hinders the growth of the Education Technology market.
The Education Technology market is segmented based on sector, based on end use, and based on type.
By sector, the global Education Technology market was classified into preschool, K-12, Higher education and other sectors. The K-12 sector segment is expected to hold the dominance of the market attributed to the growing trend of game based learning in K-12 sector in which most of the teachers in K-12 sector supports gamification initiatives to develop the student’s math learning skills with the integration of practical, and project based work in schools. Furthermore, incorporating technologies in K-12 sector enables immersive content and also provides experiences such as virtual field trips, complex lab based experiments which results in engaging learning experience. This K-12 sector segment will continue to dominate during the outlook period.
By end use, the global Education Technology market was bifurcated into two types namely, business and consumer. Among these segments, the business segment holds the major share of the market due to the factors such as upsurge in partnerships among EdTech firms, educational institutes, and also the content developers to create numerous opportunities for the digital education sector.
By type, the global Education Technology market was classified as hardware type, software type and content type. Among these segments, the hardware type segment holds the major share of the market and will dominate the market during the forecast period owing to the factors such as increased prominence of digital classrooms across the educational industry. The content type segment is also expected to increase the market rate due to the availability of numerous e-learning portals which offers better quality educational content in the form of study notes, test prep material, question banks, learning videos.
On the basis of region, the application security market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.
North America region holds the major share of Education Technology market due to the presence of major key players in the region especially in some of the countries such as US and Canada and also increasing of R & D as well as the technological advancements in the Education Technology helps the growth of the market. Furthermore, growing number of online teaching learning models to keep running education system is also another major driving factor which helps the growth of the market in North America region.
Asia Pacific region is expected to increase the market value owing to the factors such as increased usage of the internet and smart devices among the masses promotes the growth of the market of Education Technology in this region. Furthermore, the education stakeholders in developing areas of the Asia Pacific region are increasingly considering the technologies to bridge the gap between educational infrastructures and also the teaching resources.
Europe region is expected to increase the growth of the Education Technology market followed by North America region and Asia Pacific region.
Latin America and Middle East & Africa are likely to have slow growth rate during the forecast period 2021-2026.
BYJU’s company has the largest market share, since the company has a wide presence in the field of Education Technology especially in India.
The main players in the market are BYJU’s, Chegg, Inc, edX Inc, Blackboard Inc, Coursera Inc, Edutech, Google LLC, Infrastructure Inc, Microsoft, Udacity Inc and upGrad Education Pvt Ltd.
As we all are aware that due to the COVID 19 pandemic, so many people lost their lives and to reduce the spread of the virus, most of the government authorities have imposed lockdown restrictions and almost all the industries has affected including small scale industries and also large scale industries and has given work from home model for their employees to stop the spread of the corona virus and online classes has been implemented since the schools and colleges were closed. As a result, the number of students using this education technology has increased rapidly during the lockdown.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Education Technology Market, By sector
6.1.3 higher education
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Education Technology Market, By end use
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Education Technology Market, By Type
6.3.1 hardware type
6.3.2 software type
6.3.3 content type
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By sector
7.2.3 By end use
7.2.4 By Type
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By sector
7.3.3 By end use
7.3.4 By Type
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By sector
7.4.3 By end use
7.4.4 By Type
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By sector
7.5.3 By end use
7.5.4 By Type
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By sector
7.6.3 By end use
7.6.4 By Type
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Chegg, Inc
8.3 edX Inc
8.4 Blackboard Inc
8.5 Coursera Inc
8.7 Google LLC
8.8 Infrastructure Inc
8.10 Udacity Inc
8.11 upGrad Education Pvt Ltd
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures