The global Education Technology Market size is expected to reach USD 377.85 billion by 2028, registering a CAGR of 19.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. Key industry participants are BYJU'S, Blackboard, Inc., Chegg, Inc., Coursera, Inc. and Edutech among others. The process of learning is evolving gradually in line with advances in technology. From virtual classrooms to Massive Open Online Courses (MOOCs), the 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 education technology (EdTech) into the overall education system.
The proliferation of smart devices and the continued
rollout of internet connectivity drive the growth of the market. The rising
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., the 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.
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 Artificial Intelligence (AI),
robotics, Augmented Reality (AR), and Virtual Reality (VR),
and their potential integration into learning are anticipated to transform the
conventional teaching techniques. 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. MOOCs are also gaining immense popularity across the globe and
are emerging to be an affordable mode of online education.
Related Press
Release @ Education
Technology Market Report
Education Technology Market Report Highlights
- Some
of the major higher institutes and educational organizations across North
America are increasingly shifting their focus from legacy EdTech education
system to online EdTech solutions
- 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
- Cloud
computing technology is used to store vital resources, such as audio/video
lessons, written lessons, and assignments, on a school’s cloud terminal.
Students can access these resources at their convenience
- 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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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