The Future of (Education Technology) Edtech and Role of Top companies to Educate and Earn by 2028- IMARC Group

PRESS RELEASE

Published April 21, 2023

The latest research study “Edtech Market: Global Industry, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global edtech market size reached US$ 194.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.

Education technology (EdTech) refers to the technology used to deliver education virtually. It consists of hardware and software that are utilized to provide instruction on a virtual level to benefit students and enhance their educational outcomes. Digital content is easier to generate than printed content, which has a higher production cost. Therefore, eBooks are becoming increasingly famous among learners, on account of their flexibility and portability. Additionally, listeners with disabilities can benefit from audio formats of educational content to improve their vocabulary and learn to read interpretively.

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Edtech Market Trends and Drivers:

The shifting consumer preferences in the usage of touchscreen displays from projector-based displays to provide more student engagement, owing to the inflating digitization in the education sector, are primarily augmenting the Edtech market. Furthermore, the growing utilization of artificial intelligence (Al) and machine learning (ML) technologies for creating personalized eLearning experiences is positively influencing the global market. Apart from this, the increasing penetration of high-speed internet and the rising sales of smart devices are acting as significant growth-inducing factors. Moreover, the inflating investments in online learning and distance learning programs, on account of their flexibility and real-time feedback, are also bolstering the market growth. Besides this, the sudden outbreak of the COVID-19 pandemic leading to the rapid closure of educational institutions and the mandatory implementation of social distancing norms resulting in widespread digital learning via digital platforms, which is further catalyzing the global market. Additionally, the growing urbanization, the inflating disposable income levels, the emergence of 5G, and extensive R&D activities are expected to drive the Edtech market in the coming years.

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Edtech Market Report Segmentation:

List of Major Key Players:

The major players in the market are

2U Inc., BYJU'S
Chegg Inc.
Class Technologies Inc.
Coursera Inc.
Edutech
Google LLC (Alphabet Inc.)
Instructure Inc.
Lenovo Group Limited
SMART Technologies ULC (Hon Hai Precision Industry Co. Ltd.)
Udacity Inc. and upGrad Education Private Limited.

The report has been segmented the market into following categories:

Breakup by Sector:

Preschool
K-12
Higher Education
Others

Breakup by Type:

Hardware
Software
Content

Breakup by Deployment Mode:

Cloud-based
On-premises

Breakup by End User:

Individual Learners
Institutes
Enterprises

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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