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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~16% |
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Base Year Market Size (2023) |
~ USD 137 Billion |
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Forecast Year Market Size (2036) |
~ USD 813 Billion |
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Regional Scope |
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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:
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Sector |
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End-user |
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Deployment |
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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.
Author Credits: Abhishek Verma
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