Education Technology Market Size, Share & Trends Analysis Report, By Sector (Preschool, K-12, Higher Education), By End-user (Business, Consumer), By Type, By Deployment, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global education technology market size was valued at USD 106.46 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.5% from 2022 to 2030. Education technology (EdTech) includes hardware and software technology used to educate students on a virtual level to improve learning in classrooms and enhance students’ education outcomes. EdTech platforms assist students overcome hurdles to receive a comprehensive education by utilizing technology for learning and teaching. Learners are increasingly shifting toward eBooks that can be accessed online from anywhere across the globe. Digital content is comparatively easy to generate than printed content, which tends to incur higher production costs. Digital books are available in different languages and can be easily translated and retrieved by a wider user base. Moreover, learners, especially those with physical disabilities, can listen to the educational content in an audio format to improve their vocabulary and encourage better interpretive reading. For instance, in January 2022, Texthelp Ltd., a prominent assistive technology provider for the EdTech market, launched OrbitNote, a pdf enabled app that would be helpful for visually impaired students to access the document by leaving voice notes. 

Further, users will be able to engage with digital copies in an entirely new way with OrbitNote. They will be able to build an accessible, active, and collaborative space for everyone. EdTech solutions are expected to evolve in line with the advances in the latest technologies, such as IoT, AI, and AR/VR, and contribute significantly to the market's growth. The integration of AR and VR in EdTech solutions helps offer an interactive experience to the learners. It allows learners to explore and seamlessly connect with abstract concepts subsequently driving student engagement. For instance, in January 2022, zSpace, Inc., a U.S.-based EdTech firm that offers hybrid or remote learning, launched a new AR/VR learning device that would help engage students with multidimensional content in a virtual world, eliminating the need for glasses. On the other hand, the integration of blockchain technology allows end-users to store and secure records of students and learners, thereby enabling educators to analyze the consumption patterns of the material offered to the learners and make data-driven decisions.

Enhancing student engagement is emerging as a prime concern for educators. Hence, market players respond to such concerns by introducing advanced interactive whiteboards and shifting from projector-based displays to touchscreen displays. For instance, in July 2021, Huawei Technologies Co., Ltd., an information technology company, launched a kid's smart learning screen for children with a wide range of educational resources and applications such as word lookup, remote homework tutoring, teaching classes, textbooks, parent management education center, and smart learning solutions. Such initiatives encourage active learning and the development of critical readiness skills in the learners. Furthermore, both educators and learners can access student information systems (SIS) with a primary focus to generate comprehensive student profiles that can enable educators to make informed decisions with a particular focus on enhancing every individual student's performance.

However, given that EdTech solutions also store learners’ personal information, market players must abide by the copyrights and data privacy norms while introducing any new EdTech product. On the other hand, all the universities receiving funds from the U.S. Department of Education (DOE) have to abide by the requirements falling under the FERPA and PPRA acts. FERPA aims to protect student records while PPRA puts a strong emphasis on safeguarding students' personal information gathered through surveys. In the European Union (EU), EdTech companies also fall under the purview of the General Data Protection Regulation (GDPR), limiting the access and processing of users’ data by all types of organizations involved in handling large volumes of information. For instance, in March 2021, Canada Government created a Digital Charter where every individual would have control over their personal information. The digital charter has a few principles to be maintained and followed for the privacy of the data.

A smart classroom is propelling the growth of the EdTech market by offering tech-savvy classroom that uses animations, multimedia, audio, video, and graphics to improve teachers' and students' teaching and learning processes. This enhances student involvement and results in higher academic performance. Smart classrooms are where teachers have access to audio-visual technology and computer that allows them to teach utilizing a range of media. These include a PowerPoint presentation, DVDs, a smart interactive whiteboard, and more, presented using a data projector. Smart class is a digital endeavor that revolutionizes how teachers teach and students learn. Smart classrooms have let students accomplish their educational tasks from the comfort of their own homes utilizing remote learning and various multimedia resources. It has benefitted teachers to call on any student in the room without leaving their desk, track individual student progress and give guidance or support. It also allows students to collaborate cooperatively on projects from any location in the classroom. For instance, in January 2022, the Delhi government took the initiative to install 20,000+ smart classrooms in the school by installing 16 smart classrooms in Shaheed Amir Chand Sarvodaya Vidyalaya. The initiative towards deploying a smart classroom enhances the teaching-learning process and lets students access all online learning resources. The classrooms would have modern cameras installed for the live recording of sessions which teachers and students would further access for future needs.

Additionally, in March 2022, Bruhat Bengaluru Mahanagar Palike (BBMP) school in Bangalore imparts innovative learning by adding 60 digital classrooms and seven computer labs with 20 computers in each lab. This initiative would help teachers teach students through 3D digital models, improving education and a better understanding of the concepts. Further, in March 2022, Lenovo, which had launched its Lenovo EdVisions program, updated it to provide a hybrid classroom experience that would offer Lenovo smart education. The curriculum has been upgraded to provide students with a more exciting learning experience. It also creates a forum for educators to share their hybrid classroom experiences and techniques. For instance, in August 2021, Bhubaneshwar, a city in Odisha, started with Bhubaneshwar Smart City Limited (BSCL) to set up smart classrooms for Unit IX Government High School. The main aim behind this smart classroom project was to provide virtual learning by bringing advanced technology into the classroom for teachers and students. For instance, in September 2021, Kerala's education minister announced introducing smart classrooms with advanced technology for special schools, including visually challenged and hard of hearing students. Further, the State Council of Educational Research and Training (SCERT) would publish audio and videos on special students' various subjects.

Sector Insights

The K-12 segment led the market in 2021, accounting for over 40% share of the global revenue. The high share can be attributed to the growing trend of game-based learning in the K-12 sector. The majority of the teachers in the K-12 sector support gamification initiatives to develop the students’ math learning skills with the integration of practical, project-based work in schools. Additionally, incorporating technologies in this sector enables immersive content and provides experiences, such as virtual field trips and complex lab-based experiments, resulting in an engaging learning experience. For instance, in September 2021, Matific., an EdTech platform that offers learning math for K-6 students, launched a gamified environment for its students to learn math. This advanced version is personalized AI-powered for students to develop their math skills.

The preschool segment is expected to register the fastest CAGR of almost 18.2% from 2022 to 2030. Technological advancement enables educators to collect assessment data directly on mobile devices, reducing the conventional use of paper and pen. Some of the assessments are eliminating data entry and letting children respond directly through touchscreen-enabled devices. Leading players operating in the marketplace are providing various solutions to their customer base, such as app-based learning with videos and curated content, specifically for the early childhood segment. For instance, in March 2022, DY Patil International School in India launched its Mars1 Preschool, an AI-driven interactive learning school. With AI technology, kids would be exposed to learning by audio, visual, and kinaesthetic learning. Besides, they would also be able to learn from Cubetto, a wooden robot that would help develop their problem-solving skills and computational thinking.

End-user Insights

The business segment led the market in 2021, accounting for over 65% share of the global revenue. The high share can be attributed to the upsurge in partnerships among EdTech firms, educational institutes, and content developers to create significant opportunities for the digital education sector. As a result, partnerships and collaborations are increasingly becoming a critical part of this developing ecosystem. For instance, in February 2022, Greenfield Community College (GCC) partnered with Upright Education to offer new skills in software development and technology, including user experience design (UX) and user interface (UI). The partnership would allow students of GCC to focus on self-employment and create a hub for a career in technology training.

The consumer segment is predicted to foresee significant growth in the coming years. Growing awareness among parents and students pertaining to the shift from traditional education towards digital formats is expected to drive the segment. Lifelong learning is becoming a growing trend among adults and corporate workers as it offers flexibility concerning time and location to gain additional knowledge. Additionally, massive open online courses (MOOCs) are gaining increasing prominence across the globe owing to inexpensive online education to the consumers. For instance, in November 2021, Dr. Babasaheb Ambedkar Open University (BRAOU) collaborated with Commonwealth Educational Media Centre for Asia (CEMCA) to launch a massive open online course (MOOCs) platform. The platform comprises educators teaching from KG to PG level students and enables students to access the content through videos, discussions, and readings.

Deployment Insights

The on-premises segment led the market in 2021, accounting for over 70% of global revenue. The higher share can be attributed to the reliability and scalability of usage in the education technology market. The on-premises deployment refers to installing software or services on a company's premises or systems. The on-premises division is responsible for maintaining, licensing, and selling on-premises and mobile software products and offering software maintenance services. Professional services, including educational services, are generally performed by the on-premises segment. In terms of security, the on-premises platform outperforms its competitors. With committed business and technical resources to support expansion, EdTech realizes the full potential of on-premises. Further, it benefits the students and teachers by optimizing the solution and reducing the cost, meeting the demand for learning, and protecting student data. For instance, in August 2021, upGrad Education Private Limited, an EdTech company, acquired Knowledgehut Solutions Private Limited, a prominent player in the EdTech market. This acquisition would let upGrad Education Private Limited enter the market for short-term reskilling and upskilling. To capitalize on this market opportunity, it will use its next-generation flagship learning experience on-premises platform, PRISM, to provide learners with a scalable and highly interactive learning model, upskill them, and help them drive meaningful career outcomes.

Cloud computing is anticipated to witness significant growth in the coming years. The higher share can be attributed to the growing usage of learning analytics, reduced cost of ownership, and increase in the adoption of mobile learning in the EdTech market. Cloud deployment appeals to enterprises of all sizes because it offers regular data backup, lower operational expenses, lower capital, high security, and rapid deployment features for always-on functioning. These benefits of cloud deployment of various EdTech market solutions are propelling the adoption of these solutions over the world. For instance, in March 2022, ViewSonic Corporation, a global provider of communication and electronics, launched its new cloud-based platform, myViewBoard, an AI-driven technology for students to help them engage in the classroom. Further, it determines whether or not students are paying attention by assessing human posture and ambient elements that may influence students' concentration. This would help teachers use this information and make changes to their lessons. A dashboard is also created which displays these indexes and calculates the engagement and compliance levels in all rooms to make it easier for schools to monitor and manage classes. Education institutes can use cloud platforms to connect students across states and countries, lowering education delivery expenses and having a limited staff. Fees for students might be reduced as the cost of providing education decreases.

Type Insights

The hardware segment led the market in 2021, accounting for over 40% of global revenue. The high share can be attributed to the growing prominence of digital classrooms across the education industry. For instance, in February 2022, Veative Labs., a prominent leader in virtual reality for the EdTech market, provided its virtual reality headsets to Smt. Godavari Devi Saraf Senior Secondary School in Andhra Pradesh, India, to let students feel what they are studying. The school gives daily 20-minutes to use the virtual reality headsets. Further, this helps students to have a live experience of what they are learning in subjects like science, where they could learn about the human heart with the help of headsets.

The content segment is anticipated to witness significant growth in the coming years. The EdTech sector is witnessing innovation in content delivery with the incorporation of advanced visualization technologies. It can be attributed to the availability of numerous e-learning portals offering better-quality educational content in the form of study notes, test-prep materials, question banks, and learning videos. For instance, in June 2021, the Government of Odisha launched an e-Pathsala, an e-learning platform containing different courses for students and teachers. This platform would have various features such as online classes, self-learning, evaluation of assignments, and learner's progress.

Regional Insights

North America dominated the market in 2021, accounting for over 35% share of the global revenue. This high share can be attributed to the plenty of investments from venture capitalists and private-equity investors in the EdTech sector in the U.S. For instance, in July 2021, Class Technologies Inc., a U.S.-based EdTech platform that serves both higher education classes and K-12 students, raised its funding worth approximately USD 105 million in Series B funding. This funding would help them expand their global presence outside the U.S. and stay resourced to help universities teach the impacted students during the pandemic.

Asia Pacific is anticipated to register the fastest CAGR of 19% from 2022 to 2030. This growth can be attributed to the rising prevalence of computing and smart devices among the masses. In recent times, developing countries such as India have witnessed a wave of affordable broadband connectivity, resulting in numerous companies reaching out to the population. This trend is anticipated to enable users to experience education learning with the assistance of internet connectivity. Besides, education stakeholders in developing areas are increasingly considering technology to bridge the gap between educational infrastructure and teaching resources. For instance, in January 2022, Teevra Edutech Pvt Ltd (SpeEd Labs), an EdTech platform in India, which offers personalized learning with individualized courses to each student, is expanding its business across the country using AI-powered tools such as a recommendation engine, analytical dashboard, and personalized improvement plan which would help to bridge the gap between teacher and students.

Key Companies & Market Share Insights

Vendors active in the market are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in January 2022, Teachmint Technologies Pvt. Ltd, an online app for students and teachers, has acquired MyClassCampus, (Teachmint Technologies Pvt. Ltd) an ERP platform for educational organizations. This acquisition will let Teachmint expand its offerings in schools and various educational institutions by combining its learning management system (LMS) with the ERP software. Besides, in June 2021, BYJU’S, an EdTech company that provides online tuitions, partnered with Google LLC to make online learning more consistent for both professors and students. This partnership will allow educational institutions to offer a personalized digital platform for classroom organization.Some of the prominent players in the global education technology market include:

• BYJU'S

• Blackboard Inc.

• Chegg, Inc.

• Coursera Inc.

• Edutech

• edX Inc.

• Google LLC

• Instructure, Inc.

• Microsoft

• Udacity, Inc.

• upGrad Education Private Limited

Education Technology Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global education technology (EdTech) market report based on sector, end-user, type, deployment, and region:

• Sector Outlook (Revenue, USD Million, 2017 - 2030)

  • Preschool

  • K-12

  • Higher Education

  • Others

• End-user Outlook (Revenue, USD Million, 2017 - 2030)

  • Business

  • Consumer

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Hardware

  • Software

  • Content

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Cloud

  • On-Premises

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    •  U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

  • Middle East and Africa (MEA)