Global Education Technology Market Report and Forecast 2024-2032

Global Education Technology Market Outlook

The global education technology market size was approximately USD 230.62 billion in 2023. The market is further projected to grow at a CAGR of 9.5% between 2024 and 2032, reaching a value of USD 542.43 billion by 2032.

Key Trends in the Market

The combination of IT tools and instructional strategies intended to facilitate and improve learning is known as "edtech," or education technology. In order to enhance teaching and learning, educational technology is the subject of research, to look at the process of analysing, designing, developing, implementing, and evaluating the learning environment, learners, and the learning process. It gives educators the ability to involve their students in distinctive, creative, and fair ways.

• The increasing demand for online learning solutions due to their flexible, affordable, and compatible nature is aiding the education technology market growth. Some renowned universities, such as Oxford and Cambridge, among others, are providing online courses, due to their rising preference among students and working professionals alike.

• The latest technological developments, such as artificial intelligence, augmented reality and virtual reality, and internet of things, among others, aid educator in making the session more interactive and insightful. The incorporation of such technologies increases student engagement by enabling exploration and a smooth connection with abstract concepts.

• The growing demand for personalised learning solutions and provision of incentives by various governments, including tax benefits and investments, among others, is further bolstering the growth of the market.

Education Technology Market Segmentation

Based on component, the market is divided into hardware, software, and services. On the basis of  deployment mode, the market is segmented into cloud and on-premises.

Based on end use, the market is classified into government organisation, academic institution, and enterprise, among others. Academic institutions are sub-divided by type into pre school, K-12, and higher education, among others.

The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global education technology market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Chegg Inc. 

• Microsoft Corp. 

• Alphabet Inc. 

• 2U Inc. 

• Instructure Holdings Inc. 

• Coursera, Inc. 

• Think & Learn Private Limited (Byju’s) 

• SMART Technologies ULC

• UpGrad Education Private Limited 

• Udacity, Inc.

• Others

Market Share by Deployment Mode

As per the education technology market analysis, cloud-based education platforms are gaining momentum due to the various advantages associated with their utilisation. A cloud-based education technology (EdTech) business can interact with the information and examine consumer and student preferences. The demand for remote learning and digital lesson plans has increased the value of IT systems, especially cloud-based platforms. By storing educational materials on a cloud platform, teachers and students can readily access them and do away with the requirement for physical textbooks. With a basic gadget and an internet connection, students can obtain all the required books and modules, and teachers can post course materials remotely. It also strengthens the consumer demand for personalised learning solutions.

Market Share by Region

North America holds a significant education technology market share due to the presence of leading edtech firms in the region, high acceptance rate of new technologies, and increasing spending power of consumers. An estimated USD 26 billion to USD 41 billion was spent on educational technology by K–12 schools in the United States in the year before the pandemic. Due to the altering nature of various job profiles, parents prefer the comfort and flexibility offered by remote teaching solutions, which contributes to the education technology market demand.

Competitive Landscape

Chegg, Inc. is an American educational technology firm that offers online tutoring and textbook rentals—both physical and digital—homework assistance, among other student services. It provides a student-focused linked learning environment that enables students to take charge of their education in order to save time, money, and resources. The company has its shares listed on the New York Stock Exchange with ticker symbol CHGG (NYSE: CHGG).

Microsoft Corp. is one of the leading developers of computer applications and software. The company also publishes multimedia titles and books, offers e-mail services, electronic game systems, and hybrid tablet computers, among others. The company has its shares listed on the New York Stock Exchange with ticker symbol MSFT (NASDAQ: MSFT).

Coursera, Inc. is a massive open online courses platform that provide online courses, certificates, and degrees in a range of areas. Coursera also collaborates with colleges, among other educational institutions. The company has its shares listed on the New York Stock Exchange with ticker symbol COUR (NYSE: COUR).

Other players operating in the education technology market include Alphabet Inc., 2U Inc., Instructure Holdings Inc., Think & Learn Private Limited (Byju’s), SMART Technologies ULC, UpGrad Education Private Limited, and Udacity, Inc., among others.

Key Highlights of the Report