PUNE, India, Oct. 19, 2021 /PRNewswire/ -- According to a recent market study published by Up Market Research titled, "Global Education Technology Market by End User (Consumer, Business), by Sector (K-12, Preschool, Higher Education), by Type (Software, Hardware) and Region: Size, Share, Trends and Opportunity Analysis, 2018-2028", As per the study the market was valued at USD 99.5 billion in 2020. It is expected to grow at a compound annual growth rate of 19.9% between 2021 and 2028. Digital technology can increase access to education. Learners are shifting to eBooks, which can be accessed from any location around the world. It is much easier to create digital content than printed content which can be more expensive to produce. Digital books can be translated into many languages and retrieved easily by a larger user base. A digital format allows learners with disabilities to listen to educational content to enhance their vocabulary and facilitate better interpretation.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Key Market Players Profiled in the Report
- upGrad Education Pvt Ltd
- Blackboard Inc
- Coursera Inc
- Udacity Inc
- Chegg Inc
- edX Inc
- Instructure Inc
- Google LLC
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Education Technology Market
Based on Sector, the market is divided into Preschool, K-12, Higher Education. K-12 segment dominated the market in 2020, accounting for 41% of the total revenue. It will continue to hold the top spot and expand at a steady CAGR between 2021 and 2028. This high share can be attributed largely to the increasing popularity of game-based learning within the K-12 sector. And, From 2021 to 2028, the fastest CAGR is expected in the preschool sector. Technological innovation has allowed educators to collect assessment data on mobile devices.
On the basis of End-user, the market is divided into Business and Consumer. In 2020, the business segment accounted for 69% of global revenue. This high share can be attributed largely to the increase in partnerships between EdTech firms, educational institutions, and content developers, which has created significant opportunities for digital education.
Based on Type, the market is bifurcated into Hardware and Software. In 2020, the hardware segment accounted for 42% of global revenue share. This high share can be attributed largely to digital classrooms becoming more prominent in the education sector. This segment is expected to experience the fastest growth rate over the forecast period.
On the basis of Regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America was the dominant market in 2020, accounting for 37% of global revenue. Due to the large number of investments by venture capitalists in the EdTech sector in America, the regional market will continue its dominance for the duration of the forecast period. Also, Asia Pacific will experience the fastest CAGR at 22.6% between 2021 and 2028. This is due to increasing internet usage and smart devices. Many companies have been reaching out to people in developing countries like India over the past few years due to affordable broadband connectivity.
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Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Education Technology Market
Read 243 Pages Research Report with Detailed ToC on "Education Technology Market by End User (Consumer, Business), by Sector (K-12, Preschool, Higher Education), by Type (Software, Hardware) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Segments Covered in the Report
The global Education Technology market has been segmented based on
By End User
- Higher Education
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
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