Global EdTech Market Outlook & Forecasts 2022-2027 - Growth in Gamification & Adoption of the Hybrid Model
Friday, February 4, 2022
DUBLIN, Jan. 27, 2022 /PRNewswire/ -- The "EdTech Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
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The EdTech market size was valued at USD 254.80 billion in 2021 and is expected to reach USD 605.40 billion by 2027, growing at a CAGR of 15.52% during the forecast period.
The global education technology market is constantly experiencing a digital revolution with the emergence of artificial intelligence and digitalization. Technology has played a major role in education categories serving primary, secondary, and corporate training.
The global EdTech market holds an absolute growth of more than 130% during the forecasted period. The education shift from traditional to interactive and digitized formats has positively impacted the online education market with a new creative approach to delivering education and skills.
The digital form of education is expected to benefit a wide user base of learners across various age groups, socio-economic status, and geography. The digital form of education is expected to benefit a wide user base of learners across various age groups, socio-economic status, and geography.
Advanced technologies like Artificial intelligence (AI) and Augmented Reality (AR) are expected to drive the digital education market fostering education through means of game-based learning (gamification), hybrid models, mobile-based learning attracting many investors to inject funds during the forecasted period.
EDTECH MARKET SEGMENTATION
-- The market for hardware products is growing owing to increases in the
use of interactive whiteboards and simulation-based learning hardware.
The presence of these display boards is witnessed across the globe and
is widely accepted to display content, images, and video. This is
driving the smart classroom market across the globe.
-- Despite technology disruption, the demand for K-12 is expected to
strongly be supported by the government policies mainly fulfilling the
national priorities. The data-rich ecosystem will enable to capture of
data for learning activities. The integrated technology benefits are
expected to offer significant benefits to schools and enhance the
outcomes of the users in the market.
GEOGRAPHICAL OUTLOOK
-- APAC: The Ed-Tech market in APAC is expected to be influenced by rapid
urbanization followed by increasing penetration of smartphones that can
be used for access to learning material. Consumers are paying more for
convenience and time while investing in technological or innovative
products. The purchasing behavior of consumers in this region is also
largely influenced by advanced technological developments as well as the
rise of e-commerce.
-- North America: The demand for the EdTech market from the institutional
segment in the region is driven by high awareness of their advantages
over conventional offline learning models, advanced technological
infrastructure, and extensive reach of innovative learning and training
solutions. The US education technology market has accelerated the demand
for online learning.
VENDOR LANDSCAPE
-- The key players in the market are 2U Inc, BoxLight, Byju's, Blackboard,
Udemy, Coursera, Chegg, Duolingo, Unacademy.
-- Boxlight has acquired Mimio LLC which designs and produces the broadest
range of interactive classroom technology that primarily targets the
global K-12 education market.
-- Byju's in 2020, acquired WhiteHat Jr in 2020 to expand their market in
coding platforms and other skill development areas like music and math.
KEY GROWTH DRIVERS
-- Growth in Gamification
-- Adoption in Hybrid Model
-- Enhancement In Connectivity Infrastructure and Smartphone Penetration
-- Introduction of 5G Technology
-- Growing Investments by Private Equity & Venture Capital
KEY HIGHLIGHTS
-- Players like Coursera, Khan academy have adopted the freemium model by
making their products directly available to the end-users without many
intermediaries.
-- Content providers like Pearson, Himalaya publications S.Chand to name a
few are looking to leverage their brand and position themselves strongly
in digital education. This is to capitalize on the rapid growth of these
supplementary innovative digital offerings.
-- The demand for digital learning from the vocational learner segment
accounted for USD 19.20 billion in revenue in 2020. It is driven by job
seekers that are looking to upgrade language and functional skills to
meet professional requirements within the country and beyond.
-- Online certification platforms are now being appreciated and accepted by
companies when candidates apply for jobs. Most of the players have
emphasized certifications by industry like Google, LinkedIn, and other
popular universities like Harvard, MIT to name has gained huge
popularity in the market.
Key Vendors
-- 2U Inc
-- BoxLight
-- Byju's
-- Blackboard
-- Udemy
-- Coursera
-- Chegg
-- Duolingo
-- Unacademy
Other Prominent Vendors
-- UpGrad
-- VIP KID
-- Fujitsu
-- Promethean World
-- Ellucian
-- Red Shelf
-- Xello
-- Scoir
-- Kahoot
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Role Of Technology In Education
7.3 Digital Transformation In Learning
7.4 Impact Of Covid-19
8 Market Opportunities & Trends
8.1 Growth In Gamification
8.2 Adoption Of The Hybrid Model
9 Market Growth Enablers
9.1 Improvements In Connectivity Infrastructure And Smartphone Penetration
9.2 Introduction Of 5G Technology
9.3 Growing Investments By Private Equity & Venture Capital Firms
10 Market Restraints
10.1 Data Security Concerns
10.2 Evolving Rules And Regulations
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Mergers & Acquisitions In The EdTech Market
11.4 Five Forces Analysis
12 Business Models In The EdTech Market
12.1 Freemium Model
12.1.1 Market Overview
12.2 Ad-Based Revenue Model
12.3 Free Trial & Subscription Based Model
12.4 Marketplace Model
12.5 Institutional Sales Model
12.6 Recruiting Model
13 Component
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hardware
13.4 Software
13.5 Technology-Enabled Services
14 Sector
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 K-12
14.4 Higher Education
14.5 Competitive Exams
14.6 Certifications
15 End-User
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Individual Learners
15.4 Institutes
15.5 Enterprises
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/dpuy1w
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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