Education Technology (EdTech) Market Expansion Continues, with Forecast Valuation of $388.38 Billion by 2029

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What Is the Expected CAGR for the Education Technology (EdTech) Market Through 2025?
The size of the education technology (edtech) sector has experienced rapid expansion in the past few years. Forecasted growth from $169.2 billion in 2024 to $199.74 billion in 2025 is projected, with a compound annual growth rate (CAGR) of 18.1%. Factors contributing to this growth in the past have included wider acceptance of digital tools, the popularity of online learning platforms, digital education initiatives by governments, an increase in demand for individualized learning, the rise of cloud computing, the spread of mobile learning, a shift towards a blend of remote and traditional education, and the creation of open educational resources.

What's the Projected Size of the Global Education Technology (EdTech) Market by 2029?
The expected surge in the edtech (education technology) market size in the coming years suggests that it will develop to $388.38 billion in 2029, boasting a compound annual growth rate (CAGR) of 18.1%. Factors contributing to this development during the projection period include the growing adoption of virtual and augmented reality, an increase in demand for personalized and adaptive learning, the rise of blockchain for credential verification, emerging focus on gamification in learning, development of cloud-based learning management systems, augmented investments in edtech startups, and the growth of microlearning and nugget-sized content. Notable future trends encompass AI-enabled adaptive learning, immersive education through virtual reality, augmented reality for interactive learning, employing blockchain for secure academic credentials, remote learning experiences enabled by 5G, enhanced student engagement through gamification, IoT-integrated smart classrooms, cloud-based collective learning platforms, sophisticated data analytics for personalised education, and the use of digital twins for virtual simulations.

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Top Growth Drivers in the Education Technology (EdTech) Industry: What's Accelerating the Market?
The growth of the education technology (EdTech) market is anticipated to surge due to the increasing demand for digital learning. Digital learning is a method where people gain knowledge and skills digitally through various devices like computers, smartphones, tablets, and online platforms. It is garnering more traction because of the convenience it offers, as people can engage with it anytime and from anywhere, fitting education effortlessly into their busy schedules. Digital learning further reduces costs associated with physical classrooms and print-based learning materials, hence making education more cost-effective and consequently catalyzing the market's expansion. Eurostat, a government agency in Luxembourg, stated in January 2024 that online courses or learning materials have been utilized by 30% of internet users aged between 16 and 74, registering a growth of 2% from 28% in 2022. Hence, the escalating demand for digital learning is fueling the education technology (EdTech) market's growth.

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What Trends Will Shape the Education Technology (EdTech) Market Through 2029 and Beyond?
Leading corporations in the EdTech sector are prioritizing the creation of cutting-edge solutions, such as tools powered by artificial intelligence (AI) to individualize learning, introduce task automation, escalate student involvement, deliver prompt feedback, and offer intelligent tutoring for superior learning encounters. AI-powered tools are software and machinery employing artificial intelligence for task automation, data examination, and user experience augmentation. For instance, in September 2023, Brainly, an education firm based in the US, unveiled AI Tutor, a smart educational aide that utilizes sophisticated artificial intelligence to provide custom homework assistance and thorough explanations. It harnesses the power of natural language processing to simplify complicated notions into comprehensible steps, guiding students through problem-solving across a plethora of subjects and elevating their comprehensive learning experience.

What Are the Main Segments in the Education Technology (EdTech) Market?
The education technology (edtech)market covered in this report is segmented -

1) By Type: Learning Management Systems (LMS), Student Information Systems (SIS), Classroom Management Software, Language Learning Platforms, Other Types
2) By Component: Hardware, Software, Services
3) By Deployment: On-Premises, Cloud
4) By Application: Preschool, Kindergarten 12th Grade (K-12), Higher Education, Other Applications
5) By End User: Individual Learners, Institutes, Enterprises

Subsegments:

1) By Learning Management Systems (LMS): Course Management, Virtual Classrooms, Assessment And Quizzing, Gamified Learning, Mobile Learning, Artificial Intelligence (AI)-Powered Learning
2) By Student Information Systems (SIS): Enrollment And Admissions, Attendance Tracking, Gradebook Management, Student Portfolios, Parent And Teacher Communication, Scheduling And Timetabling
3) By Classroom Management Software: Behavior Monitoring, Real-Time Collaboration, Screen Monitoring And Control, Digital Whiteboards, Homework And Assignment Tracking, Secure Testing Environments
4) By Language Learning Platforms: Artificial Intelligence (AI)-Powered Language Tutors, Speech Recognition And Pronunciation Training, Vocabulary And Grammar Builders, Interactive Language Games, Live Tutoring And Peer Learning, Multilingual Content Libraries
5) By Other Types: Science, Technology, Engineering and Mathematics (STEM) And Coding Platforms, Adaptive Learning Technologies, Virtual And Augmented Reality (VR/AR) Learning, Special Education And Accessibility Tools, Career And Skill Development Platforms, E-Book And Digital Content Providers

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Which Top Companies are Driving Growth in the Education Technology (EdTech) Market?
Major companies operating in the education technology (edtech) market are plc, Lenovo Group Limited, BYJU'S, Stride Inc., VIPKid, Anthology Inc., 2U Inc., Udemy Inc., Chegg Inc., PowerSchool, Duolingo, Instructure Inc., Coursera Inc., Discovery Education, upGrad Education Private Limited, Age of Learning Inc., Zuoyebang, Edutech, Moodle, Khan Academy, Remind, Brainly, Civitas Learning, Skillshare Inc., ClassDojo, Class Technologies Inc., Sage Publications, Guild Education Inc.

Which Regions Will Dominate the Education Technology (EdTech) Market Through 2029?
North America was the largest region in the education technology (EdTech) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the education technology (edtech) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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