PRESS RELEASE

Published October 9, 2023

 How Big is The Edtech Market:

IMARC Group, a leading market research company, has recently releases report titled “Edtech Market: Global Industry Trends, 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.

What is Edtech?

Education technology, often referred to as edtech, encompasses cutting-edge technological tools designed for the delivery of virtual education. These encompass a range of hardware and software elements, including augmented reality (AR) and virtual reality (VR) devices, webcasting equipment, projectors, interactive whiteboards, virtual classroom platforms, and learning management systems, among others. Edtech services enhance students’ educational achievements by helping them overcome barriers to obtaining a well-rounded education. They are known for their exceptional cost-efficiency, as well as their ability to provide flexibility and portability. Consequently, edtech solutions are widely employed worldwide.

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What are the growth prospects and trends in the Edtech industry?

The increasing adoption of smartphones and internet connectivity worldwide, along with a preference for smart classrooms as innovative educational tools, is the primary driving force behind the edtech market. Furthermore, the growing availability of digital educational content in the form of e-books, coupled with the integration of artificial intelligence (AI) and machine learning (ML) technologies to create personalized eLearning experiences, is also contributing positively to the global market. Another significant factor fueling growth is the emerging trend of gamification in e-learning, which enables the teaching of both simple and complex concepts through puzzles and games. In addition to these factors, rising investments in online learning and distance education programs are gaining traction due to their flexibility and real-time feedback features. The increasing demand for learning management systems that empower users to manage and develop courses, lessons, and other training materials is further propelling market growth. Furthermore, the development of interactive educational technology and increased government investments, particularly in developing nations, to enhance K-12 and university education are expected to drive the edtech market in the years to come.

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Who are the key players operating in the industry?

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.

What is included in market segmentation?

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:

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.

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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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