Outlook on the Education Technology Global Market to 2028 - Players Include Google, Microsoft, Coursera and Chegg Among Others

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Aug 24, 2022, 15:15 ET

DUBLIN, Aug. 24, 2022 /PRNewswire/ -- The "Global Education Technology Market Size, Share & Industry Trends Analysis Report By Deployment (On-premise and Cloud), By Type (Hardware, Software, and Content), By End User (Business and Consumer), By Sector, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Education Technology Market size is expected to reach $283 billion by 2028, rising at a market growth of 15.5% CAGR during the forecast period.

Education technology (EdTech) refers to hardware and software that is used to educate children on a virtual level in order to improve classroom learning and improve student results. By leveraging technology for learning and teaching, EdTech platforms assist students in overcoming obstacles and receiving a full education. eBooks, which can be downloaded online from anywhere in the world, are becoming increasingly popular among students. Digital content is less expensive to produce than printed content, that has greater production expenses.

Digital books come in a variety of languages and may be quickly translated and accessed by a large number of people. Learners can also hear to the academic material in an audio format to increase their vocabulary and develop better interpretive reading, which is especially beneficial for individuals with physical limitations. For example, Texthelp, a leading EdTech assistive technology company, released OrbitNote, a pdf-enabled software, which allows visually impaired students to access documents by recording voice notes, in January 2022.

OrbitNote is expected to also allow users to interact with digital copies in a completely new way. Businesses is expected to be able to create a welcoming, dynamic, and collaborative environment for all. EdTech solutions are predicted to emerge in tandem with advances in cutting-edge technologies like AI, IoT, and AR/VR, and to play a vital role in the market's expansion. The use of AR and VR in EdTech solutions allows students to have a more participatory experience. It enables students to explore and interact with abstract concepts in a natural way, resulting in increased student engagement.

For example, zSpace, Inc., a U.S.-based EdTech company that provides hybrid or remote learning, introduced a new AR/VR learning gear in January 2022 that is expected to enable students engage with multi-layered content in a virtual world without the requirement for glasses. The implementation of blockchain technology, but, enables end-users to keep and safeguard student records and learners, allowing educators to study the consumption patterns of the content provided to students and take data-driven decisions.

COVID-19 Impact Analysis

Owing to the shutdown of educational institutes during the COVID-19 crisis, distance learning is among the major changes in the EdTech and smart classroom industries. The pandemic has altered how data is learned dramatically. There is a shift in the operations of different sectors from in-person to digital platform. Due to the social distancing conventions, students are moving to digital learning ideas through digital platforms. Since, everyone has accepted the new normal and digitalization is on its peak, the demand and growth of the education technologies and solutions is expected to augment in the coming years.

Market Growth Factors

Rising improvements in technologies

EdTech solutions are projected to expand in lockstep with technological advancements such as IoT and AI. The use of AR and VR in these systems allows students to have a more engaged learning experience. It allows students to develop and interact with abstract subjects in a natural way, which increases their engagement. Also, the usage of blockchain technology allows consumers to keep and protect records of students and learners, enabling educators to examine consumption patterns of resources and take data-driven decisions.

Customization of various learning opportunities

Access to instructional information is available 24 hours a day, seven days a week, owing to technology. Classes can be completely completed online using a laptop or mobile device. Hybrid learning models combine remote access to technology with frequent in-person classroom sessions.

It is possible to employ technology to adapt learning plans for individual student in both cases. Teachers can design lessons based on the interests and strengths of their students. Students could study at their own pace, which is an extra benefit. In addition, students could review videos in the lesson plan when they require to study class material to gain a greater understanding of key ideas. Teachers can use the data collected by these online activities to discover what students battled with certain courses and provide additional help and support.

Market Restraining Factors

Decrease direct peer communication

Technology is often designed with the best of intentions in mind: to save time and make specific mechanical tasks easier. Almost all school tasks, though, have been automated because to technological advancements. As a result, what started out as a good idea has resulted in a situation where future generations is expected to be unable to execute basic cognitive tasks without the aid of technology.

Furthermore, it should be noted that when children rely on technology to solve all of their issues at school, they progressively lose their problem-solving skills that are in high demand. Teachers and educational institutions as a whole must put constraints on the usage of technology in education as the only answer to this challenge.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move (Product Launches and Product Expansions 2019, Nov - 2022, Jun) Leading Players
3.3.3 Key Strategic Move (Partnerships, Collaborations and Agreements 2019, Feb - 2022, May) Leading Players

Chapter 4. Global Education Technology Market by Deployment
4.1 Global On-premise Market by Region
4.2 Global Cloud Market by Region

Chapter 5. Global Education Technology Market by Type
5.1 Global Hardware Market by Region
5.2 Global Software Market by Region
5.3 Global Content Market by Region

Chapter 6. Global Education Technology Market by End User
6.1 Global Business Market by Region
6.2 Global Consumer Market by Region

Chapter 7. Global Education Technology Market by Sector
7.1 Global K-12 Market by Region
7.2 Global Preschool Market by Region
7.3 Global Higher Education Market by Region
7.4 Global Others Market by Region

Chapter 8. Global Education Technology Market by Region

Chapter 9. Company Profiles
9.1 Google LLC
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments
9.1.5.1 Partnerships, Collaborations, and Agreements
9.1.5.2 Product Launches and Product Expansions
9.1.5.3 Acquisition and Mergers
9.1.6 SWOT Analysis
9.2 Microsoft Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments
9.2.5.1 Product Launches and Product Expansions
9.2.5.2 Acquisition and Mergers
9.2.6 SWOT Analysis
9.3 Instructure, Inc. (Instructure Holdings, Inc.)(Thoma Bravo, LP)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments
9.3.5.1 Partnerships, Collaborations, and Agreements
9.3.5.2 Acquisition and Mergers
9.4 Coursera, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments
9.4.5.1 Partnerships, Collaborations, and Agreements
9.4.5.2 Acquisition and Mergers
9.5 Chegg, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Product Lines Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments
9.5.5.1 Product Launches and Product Expansions
9.6 edX, Inc. (2U, Inc.)
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Recent strategies and developments
9.6.4.1 Product Launches and Product Expansions
9.7 BYJU'S
9.7.1 Company Overview
9.7.2 Recent strategies and developments
9.7.2.1 Partnerships, Collaborations, and Agreements
9.7.2.2 Product Launches and Product Expansions
9.7.2.3 Acquisition and Mergers
9.8 Upgrad Education Private Limited
9.8.1 Company Overview
9.8.2 Recent strategies and developments
9.8.2.1 Product Launches and Product Expansions
9.8.2.2 Acquisition and Mergers
9.9 Udacity, Inc.
9.9.1 Company Overview
9.9.2 Recent strategies and developments
9.9.2.1 Partnerships, Collaborations, and Agreements
9.9.2.2 Geographical Expansions
9.10. Edutech
9.10.1 Company Overview
9.10.2 Recent strategies and developments
9.10.2.1 Partnerships, Collaborations, and Agreements