Education Technology (EdTech) Market Size & Share, by Sector (K-12, Preschool, higher education); End-users (Business, Consumer); Deployment (On-premises, Cloud) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3403
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Education Technology Market size is poised to reach USD 813 Billion by the end of 2036, growing at a CAGR of 16% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the education technology (EdTech) was USD 137 Billion and the reason behind this growth is propelled by the growing integration of mobile devices and the widespread adoption of mobile technology along with the education demand. According to the data from Q3 2021, in total 7, about 7 countries exceed 5+ hours of screen time per day on their phones, and about 18 countries exceeded the average time of about 3 hours 43 minutes.

For instance, the increase in demand for flexible and personalized learning experiences has also been acting as a key driver of growth in the education technology sector.

Furthermore, the demand for virtual reality technology is increasing as it becomes a major driver for increasing interactive and immersive educational environments. According to a report by the National Library of Medicine, VR is helpful for students with autism, as a study in 2007 by Strickland et al. showed that children with autism can apply skills they had learned in a virtual environment to the real world, which includes skills in fire and street/road safety.


Education Technology Market
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Education Technology (EdTech) Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing consumer demand for online learning: Online education is becoming more popular, driven by various factors, including the growing use of technology, easy accessibility and availability, and the convenience of online courses. According to the statistics, more than 92 million students registered for Coursera’s online education courses in 2021, which increased from 71 million in 2020, and this data was recorded to 21 million in 2016.
  • Rising disposable income: The booming economies and growing disposable income of consumers are also driving the demand for online education courses, leading to greater growth of the education technology market.
  • Greater sustainability: The use of cloud-based education technologies can lead to greater energy and cost efficiency, providing a more sustainable approach to education delivery.
  • Increasing global accessibility: The increasing adoption of technology and access to fast and stable internet connections allow for the expansion of the EdTech market to a global audience.

Challenges

  • Limited integration: The lack of proper integration of technology along with its various applications can limit the effectiveness of the EdTech market as the technology is highly effective if it is used in isolation.
  • Limited funding and resources: The need for new technology requires a certain funding, which is not always available to all stakeholders, such as schools, institutions, and others.
  • High-security concerns such as data breaches, hacks, and cyber-attacks.

Education Technology Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~16%

Base Year Market Size (2023)

~ USD 137 Billion

Forecast Year Market Size (2036)

~ USD 813 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Education Technology (EdTech) Segmentation

Sector (K-12, Preschool, Higher Education)

The K-12 segment in the EdTech market is estimated to gain a robust revenue share of 47% in the coming years owing to the wide range of ages and various stages inclined towards learning. The education technologies widely utilized in this segment, which range from smart classrooms and virtual learning, where technology is integrated into the learning environment, to e-learning platforms, provide customized and adaptive learning experiences outside the traditional classroom setting. According to the data collected by the National Science Foundation, difference in the access to technology based on household income is that about 57% of households with income under 25,000 USD have a computer available for educational purposes while about 90% of households with 200,000 USD has a computer for the same.

End-user (Business, Consumer)

The Business segment is set to garner a notable share shortly and is likely to remain the second largest segment in the end-user segment of the education technology market as it creates the base for education technology (EdTech) systems. With the growing demand for remote work and the requirement for more flexible education solutions for businesses, there has been a shift toward virtual and hybrid education.

Deployment (On-premises, Cloud)

The on-premises segment in the EdTech market is estimated to hold a noteworthy share as it is responsible for licensing, maintaining, and selling on-premises along with mobile software products and offering software maintenance services. On-premises deployment allows for better performance and responsiveness of the education technology since the systems don’t have to rely on the internet or networks, reducing potential delays or disruptions.

Our in-depth analysis of the global market includes the following segments:

          Sector

  • K-12
  • Preschool
  • Higher Education

          End-user

  • Business
  • Consumer

          Deployment

  • On-premises
  • Cloud

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Education Technology (EdTech) Industry- Regional Synopsis

North American Market Forecast

The education technology market in North America is estimated to have the largest share of approximately 42% in 2023, impelled by the growth in the upgrade of technological advancements in universities and institutions in this region. According to a report by GSMA, in 2021, more than 329 million people subscribed to mobile services, which is about 84% of the total population of this region, such factors are expected to fuel the demand for Education technology (EdTech) in the region.

APAC Market Statistics

The Asia Pacific EdTech market is estimated to be the second largest, during the forecast period led by the increase in government-led programs, such as the education expansion projects for the increase of smart education in India, China, Japan, and more. Several EdTech companies are merging and partnering up with each other to achieve efficiency and high scale. According to the financial statements of the largest EdTech firms, they’ve had a profit of about 20-60% of revenue in recent years.

Research Nester
Education Technology Market size
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Companies Dominating the Education Technology (EdTech) Landscape

top-features-companies
    • Blackboard Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • IBM Corporation
    • Apple Inc.
    • Microsoft
    • Oracle
    • Google LLC
    • Dell Technologies Inc.
    • SAPCisco Systems Inc.
    • Pearson PLC
    • Promethean World Ltd.
    • D2L Corporation
    • Desire2Learn Incorporated
    • Edmentum Inc.
    • Ellucian Company L.P.
    • Follett Corporation
    • Instructure Inc.
    • Knewton Inc.
    • McGraw-Hill Education
    • PowerSchool Group LLC

In-the-news

In The News

  • Texthelp Ltd., a well-known assistive technology provider in the EdTech market, launched OrbitNote, a pdf-enabled app that allows visually impaired students to access documents by leaving voice notes.
  • zSpace, Inc., a U.S.-based EdTech firm that provides hybrid or remote learning, launched a new AR/VR learning device that will assist students in engaging with multidimensional content in a virtual world without the use of glasses.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 3403
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing consumer demand for online learning and greater sustainability in Education technology (EdTech) are the major factors driving the growth of the market.

The market size of US Education technology (EdTech)s is anticipated to attain a CAGR of 16% over the forecast period, i.e., 2024-2036.

The major players in the market are Promethean World Ltd., D2L Corporation, Desire2Learn Incorporated, Edmentum Inc., Ellucian Company L.P., Follett Corporation, Instructure Inc., Knewton Inc., McGraw-Hill Education, PowerSchool Group LLC, Quipper, Study Sapuri, and others.

The K-12 segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
EdTech Market Report Scope
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