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, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the education technology market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for education technology market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of education technology market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Education Technology Market Categorization:

The education technology market was categorized into five segments, namely sector (Preschool, K-12, Higher Education), end-user (Business, Consumer), type (Hardware, Software, Content), deployment (Cloud, On-Premises), and regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The education technology market was segmented into sector, end-user, type, deployment, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The education technology market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seven countries, namely, the U.S.; Canada; Germany; the UK; China; India; Japan.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Education technology market companies & financials:

The education technology market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Blackboard Inc. - Established in 1997, Blackboard Inc. (Blackboard) is an EdTech company that serves the K-12, higher education, business, and government verticals. The company adopted acquisition as a key strategy in its early days, where it spent approximately USD 500 million for the acquisition of different companies during 2006 and 2012. The company is headquartered in the U.S. and has operating offices across 100 countries globally. Blackboard provides several software platforms for0020applications including Blackboard Learn, Blackboard Connect, Blackboard Mobile, Blackboard Collaborate, and Blackboard Analytics. Blackboard Learn is a web-based teaching and learning platform, while Blackboard Mobile is a mobile platform designed to deliver educational content and communication tool for students, teachers, and parents. Blackboard Analytics provides analytics and metrics, data reporting, and business intelligence for higher education.

• Byju’s - Headquartered in India, BYJU’S was founded in 2011 as an EdTech and online tutorial firm. The company operates its business mainly through its mobile app, where it provides specified educational content according to the learning phase of students. BYJU’S functions as a brand name for Think and Learn Private Ltd. The company’s primary offering includes educational content for school students from class 1 to 12 (primary to higher secondary). Apart from school-based content, the company also trains its end-customers for various competitive examinations, including IIT-JEE, IAS, GRE, and GMAT. BYJU’S has collaborated with Disney and launched an educational app on June 6, 2019, age groups 6-8 years. This collaboration has helped the company to enhance its video content by including Disney Characters. BYJU’S boasts over 40 million overall users, with an annual retention rate of about 85%. By the end of 2019, BYJU’S reportedly acquired USD 785 million from various investors, including Chan Zuckerberg Initiative (CZI), Tencent, Sofina, Sequoia Capital, Lightspeed Management Company, LLC, Verlinvest, Naspers Ventures, Aarin Capital, General Atlantic, and International Finance Corporation. To improve its market penetration, BYJU’S has started offering its products and services in several regional Indian languages. TutorVista, Osmo, and WhiteHat Jr are some of the company’s subsidiaries.

• Chegg, Inc. - Chegg, Inc. (Chegg) provides a direct-to-student learning platform for high-school and college students. The company’s product offerings primarily fall into two categories, namely Chegg Services and Required Materials. Under Chegg Services, the company provides digital products and services. Under Required Materials, the company offers print textbooks and eTextbooks. The company operates its business through direct marketing channels to reach students. As of 2019, the company held 30 patents and had 13 patent applications pending in the U.S. The company also owns 700 registered domains, some of which are Research Ready, Cheggs Study, internship.com, easyBib, and Thinkful. As of 2019, Chegg had a subscription base of 5.8 million individuals who have paid for products and services.

• Coursera, Inc. - Coursera, Inc. (Coursera) is a provider of an online learning platform for higher education. The company offers educational programs in subjects, such as biology, mathematics, finance, computer science, business, analytical solutions, and medicine. The company works with various universities and organizations to offer their online courses and degrees in various subjects. Princeton University, Stanford University, University of Michigan, University of London, Indian School of Business, and the University of Pennsylvania are some of the leading universities working with Coursera to offer their course modules online. The company has more than 200 partners across 29 countries globally. Coursera is backed by leading investors including Learn Capital, Kleiner Perkins, New Enterprise Associates, and SEEK Group.

• Edutech - Edutech’s main business revolves around the provision of technology-based solutions across classrooms, libraries, innovation centers, and science and engineering labs in educational campuses and organizations. EduTech focuses on K-12, higher education, vocational education, and corporate learning segments. EduTech has partnered with market players, such as Canvas, zSpace, OCLC, and Labster, for providing EdTech solutions. The company has also formed alliances with companies, such as Schneider Electric, ABB, Bosch, and MapleSoft, for engineering labs. UAE, Saudi Arabia, Kuwait, Oman, and Bahrain are the key market areas of the company.

• edX LLC. - edX LLC. (edX) offers university-level online courses. The initial stage of the edX educational platform was created by the Harvard and MIT universities using the python platform. The company works as a nonprofit organization and provides some courses free of cost. In June 2021, the company was acquired by 2U to create one of the world's complete free-to-degree online learning systems. The organization runs the edX open-source software platform for other higher-learning institutions. edX operates across 162 countries and provides educational content in English, Thai, Ukrainian, French, Indonesian, Polish, and Hebrew languages. edX has collaborations with more than 110 educational institutions, including Berkeley University, Boston University, Brown University, and Indian Institute of Technology Bombay, for offering educational content. The organization also provides a range of academic courses through a blended classroom model. Under this model, edX provides online interactive sessions along with traditional classes. The organization has partnered with various educational institutes to offer the blended classroom module across the U.S., Japan, China, and Mongolia.

• Google LLC - Google LLC operates as a subsidiary of Alphabet Inc. The company offers internet-related services and products, including display advertising tools, cloud computing, search engines, software, and hardware, to its customers. Under the education segment, the company offers various software and solutions for institutions and students. Chromebooks, G Suite for Education, G Suite Enterprise for Education, and Google Cloud Platform are some of the key products offered by the company under education. The company’s G Suite for Education provides various productivity tools including Google Classroom, Gmail, Google Docs, and other communication, classroom, and collaboration tools. Google’s G Suite Enterprise for Education is designed to be used by large educational institutions.

• Instructure, Inc. - Instructure, Inc. operates as a wholly owned subsidiary of Thoma Bravo. The company provides its learning content through Canvas and Bridge, its cloud-based platforms. Canvas acts as a learning management platform for K-12 and higher education segments whereas Bridge serves as an employee development and engagement platform. Bridge and Canvas platforms provide data analytics access through open application programming interfaces, which allow for individual analysis. Instructor, Inc. delivers its applications through a Software-as-a-Service business model. Education and corporate organizations are the main end-users of the company’s products and services. The company operates across 80 countries globally and has offices in London, Sydney, Sao Paulo, and Budapest. The U.S. is the company’s highest revenue-generating regional market.

• Microsoft - Microsoft is a global provider of a wide range of software, services, devices, and solutions. The company also provides licensing and support services across the globe. Microsoft’s product/ solution portfolio is offered across multiple domains, namely software, PCs & devices, entertainment, business, developer & IT, and others. The company provides Windows apps, OneDrive, Outlook, Skype, and OneNote, under its software domain. It offers PCs & tablets and Accessories, under PCs & devices. The offerings under entertainment are Xbox games, PC games, Windows digital games, and Movies & TV. It offers Microsoft Azure, Microsoft Dynamics 365, Microsoft 365, Microsoft Industry, Data Platform, Microsoft Advertising, and Licensing, under the business domain. It provides Visual Studio, .NET, Windows Dev Center, Windows Server, and Docs, under the developer & IT domain. It offers other services, such as Microsoft Store, Microsoft Rewards, free downloads & security, store locations, and gift cards.

• Udacity, Inc. - Udacity is an educational organization that offers Massive Open Online Courses (MOOCs). The company operates across the U.S., U.K., India, Egypt, Germany, and UAE. The company has formed collaborations with industry partners, including Facebook, Google, NVIDIA Corporation, and AT&T, to enhance its offerings in the field of technical education. Udacity provides online courses in areas, such as ML, AI, data science, cloud computing, and autonomous systems.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Education Technology Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Education Technology Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.