Global EdTech Market By Type (Hardware, Software, Content), By Sector (Preschool, K-12, Higher Education, Other Sectors) By Deployment (Cloud, On-Premises), By End User (Business, Consumer, Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032.

Report Overview

The global EdTech market size is expected to be worth around USD 129 Billion by 2022 from USD 421 Billion in 2032, growing at a CAGR of 12.9% during the forecast period from 2022 to 2032.

EdTech is a combination of hardware and software technology that enables students to learn on a virtual basis. This can improve student learning outcomes and the quality of their education. EdTech platforms help students overcome obstacles to receive a comprehensive education by using technology for learning. Students are shifting to eBooks, which can be accessed from anywhere on the planet.

By Type Analysis

The global EdTech market is segmented based on a type, such as hardware, software, and content.

The hardware segment represented the largest market share in 2022 and is expected to grow the fastest during the forecast period. The hardware products like interactive displays, tabs, laptops, and secure digital (SD) cards are anticipating around 60% revenue share of the global EdTech market in 2023 due to the high growth in their sales in significant countries. The range in tabs sales has grown tremendously in recent years, followed by tabs the laptops also boosted in demand.

Apple Inc. gained the largest share in the recent tab sales of around 40%, higher than Samsung Electronics Co. Ltd., Amazon.com Inc., and Lenovo Group Ltd. The high acceptance of digital classrooms for the education industry also grows the global EdTech market. The whiteboards have gained popularity in recent years due to their multiple uses of connections with digital devices such as smartphones, tablets, and laptops. The Creative Labs., a leader in virtual reality in the EdTech market, donated its virtual reality headsets in February 2022 to Smt. Every day, students have 20 minutes to experience virtual reality headsets.

By Sector Analysis

The market is segmented per applications such as Preschool, K-12, Higher Education, and other sectors. The K12 segment is expected to hold the largest market share of the global EdTech market by 2022 and is projected to maintain this position during the forecast period (2023-2032). This high percentage can be attributed to the increasing popularity of game-based learning within the K-12 sector.

Most teachers in the K-12 sector support gamification to improve students’ math skills through integrating project-based, practical work in schools. Incorporating technologies into this sector allows immersive content and offers experiences such as complex lab-based experiments and virtual field trips. This creates an engaging learning experience.

By Deployment Analysis

The global EdTech market’s largest segment in 2022 was the cloud segment. This is due to the reliability of the EdTech market and its scalability. With the increased optimization of digital lessons and long-distance learning, particularly cloud-based platforms, IT systems have gained more demand than ever. The cloud is an advanced technology that makes the change as per their users.

The cloud computing information technology system provides computing services through the Internet by calculating remote servers, digital facilities, software, networking, analytics, storage systems, and other database systems. Cloud computing significantly benefits higher education study, particularly for students from K-12 to university.

Teachers can reliably deliver online classes and cooperate with their students in programs and various online projects by maintaining cloud technology in further education. The flexible storage and reliable mechanisms with robust security measures, the cloud is a highly used technology. Most teachers use cloud systems for online classes, sharing large files in various types and formats, and with the lowest cost.

Due to this, leading EdTech companies and various educational organizations demand cloud systems for effective learning. Another factor is the gamification of learning trends in educational technology. Traditional education methods are complicated and require a high concentration and lots of effort.

But on the other hand, gamification makes learning more fun. It allows learners to play against one another individuals or against a specific timer to see if they obtain scores in real time on boards and get the rewards for scoring. As a result, many major market players have provided gamification as an EdTech marketing trend. The on-premises deployment is installing software or services on a company’s premises.

On-premises is responsible for licensing and selling mobile and on-premises software products and offering maintenance services. The on-premises segment is generally responsible for professional services such as educational services. The on-premises platform is more secure than its competitors.

By End-User Analysis

Based on End-user analysis, the global EdTech market is segmented into Business, Consumer, and Other End-Users. The business segment dominated the market in 2022 and anticipated the fastest growth during the forecast period (2023-2032). The market share increases due to collaboration with EdTech films, educational institutes, and content creators, which all significantly grow the digital education sector.

Key Market Segments

By Type

• Hardware
• Software
• Content

By Sector

• Preschool
• K-12
• Higher Education
• Other Sectors

By Deployment

• Cloud
• On-Premises

By End User

• Business
• Consumer
• Other End-Users

Drivers

An increasing acceptance of mobile devices

Cell phones have also opened up the possibility to communicate with others in many ways (text messages and social media messaging, photos, etc.). However, they also decrease live interactions, as people are always on or checking their phones, which can distract them from the moment. These are the key factors that will drive global market growth.

Restraints

Increased vulnerability rate, cyberattacks, and pressure on educational institutes to increase data privacy and security concerns.

Cyberattacks on EdTech vendors are not common, but they can severely impact K-12 education because they affect large numbers of students in multiple school districts simultaneously, according to a national study. The Government Accountability Office is an independent agency that investigates congressional investigations.

It was asked to investigate the vulnerability in teacher, student, and administrator data due to schools’ increased use of online tools. In a newly released report, the agency reviewed 99 school data breaches in the past four years and compromised personal information for K-12 students in 287 districts. Unfortunately, cyberattacks continue to plague education and are getting worse.

Opportunity

Increasing demand for user engagement.

The revolution in EdTech is similar to the transformation of dominant sectors of the economy. The potential of EdTech was realized by COVID-19, which made distance learning a common practice. In 2020, investments in India’s EdTech market, led by platforms such as Topper and Unacademy, grew by 300%. Remote learning and increased funds brought new users to EdTech platforms such as Toppr, Testbook, and Byjus.

COVID-19 Analysis

COVID-19 Caused a Positive Impact on the Global EdTech Market During the Pandemic Period.

At the start of the COVID-19 pandemic, the urge to keep educational institutions running during the pandemic is a significant factor in the growing demand for EdTech solutions. Many European countries are primarily focused on online education and working due to the effect of the pandemic. Television is the first line medium, and these various brands spend significant money with active and existing users to make new ones.

The advertisements for tech and companies increased over time over the recent year. For no cost, commercial time and digital brands improved their TV money spending on sponsorships. The only technology that provides students educational safety at home during the pandemic with providing quality education. Many students are not getting all the required facilities, and several EdTech organizations spread the network to underprivileged students. Technology makes the platform in the education field by developing virtual classrooms, lectures, webinars, and various digital education platforms.

Regional Market Analysis

North America Dominates the Global EdTech Market During the Forecast Period

North America was the dominant revenue share in 2022, with more than 36%. This is due to venture capitalists’ large number of investments in the EdTech sector in America. For example, class Technologies Inc., an EdTech platform for K-12 students and higher education, raised approximately USD 105 million in Series B funding in July 2021. As a result, they would be able to expand their international presence and remain resourced to support universities in teaching the affected students during the pandemic. Asia Pacific is expected to see the greatest CAGR during the forecast period.

This is due to the growing use of smart devices and computing among the masses. Several companies have been reaching out to people in developing countries like India, which has seen a surge in broadband connectivity. Internet connectivity will allow users to enjoy educational learning. Education stakeholders in developing countries are also increasingly looking at technology to bridge the gaps between teaching resources and educational infrastructure. For example, Teevra Edutech Pvt Ltd. (SpeEd Labs) is expanding its business in India using AI-powered tools like a recommendation engine and an analytical dashboard. This would allow it to bridge the gap between students and teachers.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Vendors in the market are working hard to expand their customer base and gain a competitive advantage over their competitors. As a result, they pursue various strategic initiatives such as partnerships, mergers and acquisitions, collaborations, new product/technology development, and partnership. Listed below are some of the most prominent global EdTech market players.

Market Key Players

• Coursera Inc.
• BYJU’S
• Chegg Inc.
• 2U Inc.
• Amazon Inc.
• Blackboard Inc.
• Edutech
• Google LLC
• edX Inc.
• Instructure, Inc.
• Udacity, Inc.
• upGrad Education Private Limited
• Other Key Players.

Recent Developments

• Teaching Technologies Pvt. Ltd. was established in January 2022. Ltd, an online app that connects students and teachers, purchased MyClassCampus (Teachmint Technologies Pvt. Ltd is an ERP platform that educational institutions can use. Teaching will be able to expand its offerings at schools and other educational institutions through this acquisition. It will combine its learning management system (LMS) with the ERP software.
• In June 2021, BYJU (an EdTech company offering online tuition) partnered with Google LLC to make online learning more consistent for students and professors. This partnership will enable educational institutions to provide a customized digital platform for classroom organization.

Report Scope