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Evolving Market Trends In The Digital Transformation in Edtech Industry: AI-Powered Learning Solutions Driving Digital Transformation in EdTech
Digital Transformation in Edtech
What Is the Expected Digital Transformation in Edtech Market Size During the Forecast Period?
The expansion of the edtech market due to digital transformation has been immense in the last few years. The market size, which is projected to be at $6.73 billion in 2024, is expected to swell to $8.39 billion in 2025, marking a compound annual growth rate (CAGR) of 24.6%. The driving factors behind this growth in the past years include an increase in internet accessibility, the widespread use of mobile devices, tremendous advancements in cloud technology, the emergence of e-learning platforms, and a surge in the demand for tailored learning experiences.
The expected digital conversion in the edtech market is poised to experience considerable expansion in the coming years. The market is predicted to reach $20.07 billion in 2029, boasting a compound annual growth rate (CAGR) of 24.4%. This growth during the forecast period can be linked to the emergence of AI-enabled education, the development of virtual and augmented reality technologies, the proliferation of 5G connectivity, an increased emphasis on lifelong education, and the burgeoning demand for data-centric learning. The prediction period also shows trends like individualized learning facilitated by AI, the use of blockchain for validating credentials, immersive learning through AR/VR, gamification and adaptive learning, as well as the incorporation of IoT in intelligent classrooms.
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What Are the High-Growth Segments in the Digital Transformation in Edtech Market?
The digital transformation in edtech market covered in this report is segmented -
1) By Technology: Artificial Intelligence (AI), Cloud Computing, Learning Management Systems (LMS), Virtual and Augmented Reality (VR And AR), Big Data And Analytics, Other Technologies
2) By Deployment Mode: Cloud, On-Premise
3) By End-use: Preschool, Kindergarten To 12th Grade, Higher Education, Other End-users
Subsegments:
1) By Artificial Intelligence (AI): Artificial Intelligence-Powered Personalization, Chatbots And Virtual Tutors, Artificial Intelligence-driven Assessment And Feedback, Natural Language Processing (NLP), Adaptive Learning Systems, Artificial Intelligence For Content Generation And Curation.
2) By Cloud Computing: Cloud-Based Learning Platforms, Cloud Infrastructure For Scalable Education, Software as a Service (SaaS) For Education, Cloud Collaboration Tools, Cloud Storage And Data Management
3) By Learning Management Systems: Course Management And Delivery, Mobile Learning Platforms, Student And Instructor Collaboration Tools, LMS Analytics And Reporting, Gamification Features In LMS, Credentialing And Certification Systems
4) By Virtual and Augmented Reality (VR And AR): Immersive Learning Experiences, Simulations For Skill Training, Virtual Reality For Virtual Classrooms, Augmented Reality For Interactive Learning, 3D Visualization For Complex Concepts, Virtual Reality For Exam Preparation And Practice
5) By Big Data and Analytics: Learning Analytics For Performance Tracking, Predictive Analytics For Student Success, Behavioral Analytics For Engagement, Data-Driven Decision Making In Education, Curriculum Optimization With Big Data, Real-Time Feedback And Adaptation
6) By Other Technologies: Blockchain For Credential Verification, Internet Of Things (IoT) In Education, Gamification And Game-Based Learning, Voice Assistants And Speech Recognition, Digital Whiteboards And Smart Classrooms, 5G Technology For Real-Time Learning
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What Key Drivers Are Expected to Influence Future Digital Transformation in Edtech Market Growth?
The surge in e-learning platforms is predicted to fuel the advancement of digital transformation in the edTech market. These platforms function as online portals offering a variety of courses, training and educational resources, enabling learning 24/7 from any location provided there's internet access. This surge is attributed to the increasing demand for education that isn't restricted by time or location, and can be tailored to individual schedules, making it more convenient. E-learning platforms are transforming education to be more technology-based, efficient and reachable. For instance, as per the Luxembourg government agency, Eurostat, in January 2024, online course usage or online learning resources was recorded to be at 30% among web users in the 16-74 age bracket, a small increase from the 28% recorded in 2022. Hence, the burgeoning e-learning platforms are indeed spearheading digital transformation within the edTech market.
Which Companies Hold the Largest Share Across Different Digital Transformation in Edtech Market Segments?
Major companies operating in the digital transformation in edtech market are Amazon Inc., Google LLC, Microsoft Corporation, Pearson plc, LinkedIn Learning, Think and Learn Private Limited, 2U Inc., Chegg Inc., Coursera Inc., Instructure Holdings Inc., Duolingo Inc., Edmentum Inc., Pluralsight Inc., edX LLC, Crimson Education Ltd, upGrad Education Private Limited, Headway, Codecademy, Physics Wallah Private Limited, Udacity Inc., Khan Academy Inc.
What Trends Are Driving Growth in The Digital Transformation in Edtech Market?
Prominent corporations in the digital transformation in edtech market are prioritizing technological innovations such as AI-powered learning tools to enhance educational experiences and increase accessibility. These AI-infused educational technologies are designed to tailor lessons, offer intelligent tutoring, and adapt learning based on individual student's needs and advancements. As an example, accenture* Inc., a professional services organization from Ireland, introduced accenture* LearnVantage in March 2024. This advanced learning and training platform was crafted to fulfill the growing necessity for technological, data, and AI capabilities across various sectors. LearnVantage offers an all-encompassing range of services, inclusive of specialized AI and data science training for IT professionals, as well as cloud and cybersecurity certifications, together with generative AI training specifically devised for business heads and top-tier executives.
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What Are the Emerging Geographies for The Digital Transformation in Edtech Market Growth?
North America was the largest region in the digital transformation in edtech market in 2024. The regions covered in the digital transformation in edtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Transformation in Edtech Market?
2. What is the CAGR expected in the Digital Transformation in Edtech Market?
3. What Are the Key Innovations Transforming the Digital Transformation in Edtech Industry?
4. Which Region Is Leading the Digital Transformation in Edtech Market?
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