Edtech Market Size, Top Companies, Revenue by 2028 , Driven by The Inflating Digitization in The Education Sector

The latest research study "Edtech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global edtech market size reached US$ 194.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.

Education technology (EdTech) refers to the technology used to deliver education virtually. It consists of hardware and software that are utilized to provide instruction on a virtual level to benefit students and enhance their educational outcomes. Digital content is easier to generate than printed content, which has a higher production cost. Therefore, eBooks are becoming increasingly famous among learners, on account of their flexibility and portability. Additionally, listeners with disabilities can benefit from audio formats of educational content to improve their vocabulary and learn to read interpretively.

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Edtech Market Trends and Drivers:

The shifting consumer preferences in the usage of touchscreen displays from projector-based displays to provide more student engagement, owing to the inflating digitization in the education sector, are primarily augmenting the Edtech market. Furthermore, the growing utilization of artificial intelligence (Al) and machine learning (ML) technologies for creating personalized eLearning experiences is positively influencing the global market. Apart from this, the increasing penetration of high-speed internet and the rising sales of smart devices are acting as significant growth-inducing factors. Moreover, the inflating investments in online learning and distance learning programs, on account of their flexibility and real-time feedback, are also bolstering the market growth. Besides this, the sudden outbreak of the COVID-19 pandemic leading to the rapid closure of educational institutions and the mandatory implementation of social distancing norms resulting in widespread digital learning via digital platforms, which is further catalyzing the global market. Additionally, the growing urbanization, the inflating disposable income levels, the emergence of 5G, and extensive R&D activities are expected to drive the Edtech market in the coming years.

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Edtech Market Report Segmentation:

List of Major Key Players:

The major players in the market are

• 2U Inc., BYJU'S
• Chegg Inc.
• Class Technologies Inc.
• Coursera Inc.
• Edutech
• Google LLC (Alphabet Inc.)
• Instructure Inc.
• Lenovo Group Limited
• SMART Technologies ULC (Hon Hai Precision Industry Co. Ltd.)
• Udacity Inc. and upGrad Education Private Limited.

The report has been segmented the market into following categories:

Breakup by Sector:

• Preschool
• K-12
• Higher Education
• Others

Breakup by Type:

• Hardware
• Software
• Content

Breakup by Deployment Mode:

• Cloud-based
• On-premises

Breakup by End User:

• Individual Learners
• Institutes
• Enterprises

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Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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