Education Technology Market to Hit $348.41 Billion by 2030: Grand View Research, Inc.

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Feb 13, 2023, 06:35 ET

SAN FRANCISCO, Feb. 13, 2023 /PRNewswire/ -- The global education technology market size is expected to reach USD 348.41 billion by 2030, growing at a CAGR of 13.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The process of learning is evolving gradually in line with advances in technology. From virtual classrooms to massive open online courses (MOOCs), the education technology (EdTech) industry is transforming rapidly, thereby leading to an influx of massive investments worldwide. Having realized the potential of leveraging the advances in technology to enhance the process of learning, governments across the world are encouraging the incumbents of the education industry to undertake various initiatives aimed at integrating EdTech into the overall education system.

Key Industry Insights & Findings from the report:

North America dominated the market in 2022, accounting for the largest share of global revenue. Some of the major higher institutes and educational organizations across North America are increasingly shifting their focus from legacy EdTech education system toward online-based EdTech solutions.
The K-12 segment led the market in 2022 owing to the growing trend of game-based learning in the K-12 sector. Integration of AI in schools and universities to automate activities, such as grading subjects and providing feedback, is anticipated to propel the demand for EdTech offerings.
The business segment accounted for the largest share of the global revenue in 2022. The high share can be attributed to the increasing partnerships and collaborations done by various market players to expand their product portfolio and strengthen their position in the global market.
The hardware segment led the market in 2022. The widespread use of mobile devices and tablets is leading to the use of gamification and immersive learning in educational institutions for an interactive and enhanced learning experience.
The on-premises segment led the market in 2022, accounting for the highest share of global revenue owing to the reliability and scalability of usage in the EdTech market.

Read 117-page full market research report for more Insights, "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, 2023 - 2030", published by Grand View Research.

Education Technology Market Growth & Trends

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 initiatives toward deploying smart classrooms enhance the teaching-learning process and let 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.

The proliferation of smart devices and the continued rollout of internet connectivity drive the growth of the global education technology market. The growing awareness about the advantages of integrating the latest technologies in education systems is also contributing to the growth of the market. Developed economies, including the U.S., U.K., and Germany, are focusing on introducing innovative EdTech offerings, supporting education administration, reducing teacher workload, and engaging students and the community.

On the other hand, emerging economies focus on ensuring easy and convenient access to educational opportunities for the citizens. EdTech holds immense potential to ensure access to education for the rapidly growing population, particularly in emerging economies. For instance, in December 2022, Google LLC, an American multinational technology company unveiled Courses, a new feature that will strive to bring a structured learning experience on YouTube, a global online video-sharing and social media platform.

The education industry is on the cusp of a digital revolution. In the age of digitization and automation, conventional teaching methods are not the only available options for educating students. Advances in the latest technologies, such as AI, robotics, and AR/VR, and their potential integration into learning are anticipated to transform conventional teaching techniques.

For instance, in March 2022, 3RDFLIX Visual Effects Pvt. Ltd. (Practically), an EdTech firm, acquired Foradian Technologies. (Fedena) a school management software platform. This acquisition would let schools use collaborative and innovative tools for teaching, such as simulations, Augmented Reality, and 3D Videos for education. These cross-curricular learning opportunities can enable institutes and teachers to streamline resource commitments while encouraging students' knowledge development through practical and cross-curricular applications.

Education Technology Market Segmentation

Grand View Research has segmented the global education technology market based on sector, end-user, type, deployment, and region.

Education Technology (EdTech) Sector Outlook (Revenue, USD Million, 2017 - 2030)

Preschool
K-12
Higher Education
Others

Education Technology (EdTech) End-user Outlook (Revenue, USD Million, 2017 - 2030)

Business
Consumer

Education Technology (EdTech) Type Outlook (Revenue, USD Million, 2017 - 2030)

Hardware
Software
Content

Education Technology (EdTech) Deployment Outlook (Revenue, USD Million, 2017 - 2030)

Cloud
On-Premises

Education Technology Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany

Asia Pacific

China
India
Japan

Latin America
Middle East & Africa (MEA)

List of Key Players in the Education Technology (EdTech) Market

BYJU'S
Blackboard Inc.
Chegg, Inc.
Coursera Inc.
Edutech
edX Inc.
Google LLC
Instructure, Inc.
Microsoft
Udacity, Inc.
upGrad Education Private Limited

Check out more related studies published by Grand View Research:

Educational Robot Market - The global educational robot market size is expected to reach USD 5.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.4% from 2022 to 2030. The growth can be credited to the growing inclination toward interactive learning across educational institutions. Educational robots serve as learning companions that utilize real-life educational models to help students obtain new skills by enhancing the learning process. Educational robots offer information in the fields of Science, Technology, Engineering, Art, and Mathematics (STEAM), as well as computer programming, linguistics, history, and geography. Moreover, these robots also help keep young students involved, delighted, and educated, as they comprise advanced mechanics, voice control, and gestures.
Technical And Vocational Education Market - The global technical and vocational education market size is anticipated to reach USD 1.43 trillion by 2030, according to a new report by Grand View Research, Inc. The industry is expected to expand at a CAGR of 9.8% from 2022 to 2030. The increasing use of technology in education and the rising demand for job-relevant skills in various sectors are expected to propel industry growth. Technical and vocational education provides support services for the educational sectors that are both instructional and non-instructional. The widespread use of the internet has demonstrated that e-education continues to proliferate and has a lot of untapped potential that could alter the industry's performance.
Digital Education Market - The global digital education market size is expected to reach USD 77.23 billion by 2028. The market is anticipated to register a CAGR of 30.5% from 2021 to 2028. The education industry has witnessed a paradigm shift from conventional exam-oriented learning to personalized and interactive learning in recent years. As digitization continues to penetrate the education industry, the latest technologies and new and creative techniques are being used to deliver knowledge and educational content, thereby transforming learning and development into a lifelong process. Looking forward to the future, digital education is predicted to benefit several beneficiaries across various geographies, demographics, ages, and socioeconomic conditions.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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