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Educational Technology Global Market Analysis, Trends, Growth, Research And Forecast 2033
Educational Technology Global Market Analysis
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According to The Business Research Company's, The educational technology market size has grown rapidly in recent years. It will grow from $146.28 billion in 2023 to $168.71 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to adoption of personal computers in education, growth of internet access and connectivity, development of learning management systems (lms), rise of e-learning platforms and massive open online courses (moocs), integration of multimedia and interactive content in education.
The educational technology market size is expected to see rapid growth in the next few years. It will grow to $299.7 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to increasing focus on digital literacy in schools, rise in demand for remote and hybrid learning solutions, increased investment in educational technology startups, adoption of gamification and simulation in education, evolution of immersive and experiential learning experiences. Major trends in the forecast period include advances in educational software and applications, technological advancements in hardware devices for education, integration of virtual and augmented reality in education, development of ai-driven educational chatbots and virtual assistants, integration of blockchain for secure academic credentialing.
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Market Drivers and Trends:
The growing demand for online educational platforms is expected to propel the growth of the educational technology market going forward. Online educational platforms are digital platforms that offer a variety of educational resources, courses, and tools to facilitate learning outside of traditional classroom settings. Technology in education allows a shift from static learning materials to more dynamic interactive media content. On online education platforms, students and teachers can report and analyze progress based on each other's performance with the help of educational technology. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based independent international organization, the online learning platform Coursera reported 92 million registered users in 2022, an increase from 71 million users in 2020. Therefore, the growing demand for online educational platforms is driving the growth of the educational technology market.
Technological advancements are a key trend gaining popularity in the educational technology market. Major companies operating in the educational technology market are adopting new technologies to sustain their position in the market. For instance, in April 2023, The International Information System Security Certification Consortium, a US-based non-profit organization, launched an AI-based self-paced CISSP (Certified Information Systems Security Professional) Readiness Education. This innovative learning experience leverages artificial intelligence to provide individualized learning tailored to each participant's knowledge level within the CISSP Common Body of Knowledge. The AI adapts the education based on targeted assessments, gauging the individual's competence and confidence for each topic and addressing knowledge gaps or deficiencies. This AI-driven solution enhances CISSP certification preparation and exemplifies the use of evolving technological innovations, such as AI, to improve the cybersecurity workforce. The cybersecurity industry can reduce burnout, enhance efficiency, and foster knowledge sharing by embracing AI. The new learning experience offers interactive study materials, robust search capabilities, an analytics dashboard, and email support for additional assistance.
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Major Key Players of the Market:
Instructure Inc., Microsoft Corporation, Alphabet Inc., IBM Corporation, Oracle Corporation, Pearson PLC, upGrad Education Private Limited, Blackboard Inc., Udemy Inc., Coursera Inc., Promethean World Ltd., Smart Technologies, Outschool, Byju's, Udacity Inc., Chegg Inc., E-Zest Solutions Ltd., Kahoot!, Hurix Digital, edX Inc., TutorMe, Codecademy, Nearpod, Quizlet, Edmentum Inc., Khan Academy, BrainPOP, Knewton Inc.
Educational Technology Market 2024 Key Insights:
• .
The educational technology market size is expected to see rapid growth in the next few years. It will grow to $299.7 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.
• Surging Demand For Online Educational Platforms Fuels Growth In Educational Technology Market
• Tech Advancements Drive Transformation In The Educational Technology Market
• North America was the largest region in the educational technology market in 2023
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