NEW YORK, Nov. 27, 2023 /PRNewswire/ — The Edtech Market size is expected to grow by USD 108.98 billion, accelerating at a CAGR of 13.61% from 2022 to 2027, according to Technavio. The transition towards eBooks is driving the growth of the edtech market. Distributors, online bookstores, and tablet manufacturers have significantly shaped the future of the digital book sector. Amazon, a major company in the US market, introduced an innovative e-reading device that streamlines book purchases at reasonable prices. The COVID-19 pandemic compelled individuals to shift to electronic textbooks as physical distribution outlets were affected by lockdowns in 2020. This led to a rise in eBook adoption due to their flexibility and convenience, especially when people were confined indoors with limited recreational options like outdoor activities. These factors are anticipated to further accelerate market expansion during the forecast period. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Buy the full report
Edtech Market 2023-2027: Segmentation
- Type
- Hardware
- Content
- Software
- Sector
- K-12
- Higher Education
- Others
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
The hardware segment is anticipated for substantial market share growth during the forecast period. This segment encompasses educational tools like personal computers (PCs), interactive displays, classroom wearables, sound systems, projectors, and lecture capture solutions. With a vast population of university students, there’s a notable increase in the use of personal computer devices such as desktops and laptops.
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Edtech Market 2023-2027: Company Analysis and Scope
To help businesses improve their market position, Technavio provides a detailed analysis of around 25 companies operating in the market. Some of these companies include 2U Inc., Alphabet Inc., Anthology Inc., Chegg Inc., Cornerstone OnDemand Inc., Coursera Inc., D2L Corp., edX LLC, Ellucian Co. LP, Instructure Holdings Inc., Microsoft Corp., Oracle Corp., PleIQ Smart Toys Spa, Promethean World Ltd., Think and Learn Pvt. Ltd., Udacity Inc., UOL EdTech, upGrad Education Pvt. Ltd., Warner Bros Discovery Inc., and Workday Inc.
The report also covers the following areas:
The edtech market is fragmented, and the degree of fragmentation will accelerate. The learners shifting toward eBooks will offer immense growth opportunities. However, the availability of open-source learning content will hamper the market growth.
Edtech Market 2023 – 2027: Market dynamics
Leading trends influencing the market
- Increased demand for distance learning emerges as a primary trend in Edtech market, notably accelerated by the COVID-19 pandemic.
- Educational institutions have increasingly embraced online platforms, offering opportunities for skill acquisition over the past decade.
- The pandemic-induced shift to remote operations for schools and businesses has significantly boosted interest and reliance on web-based learning.
- Response strategies by educational institutions during the pandemic have evolved, further fueling the prominence of online courses from esteemed universities.
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Edtech Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist edtech market growth during the next five years
- Estimation of the edtech market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the edtech market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of edtech market vendors
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Related Reports:
Smart Education Market: The smart education market size is estimated to grow at a CAGR of 17.98% between 2022 and 2027. The market size is forecast to increase by USD 353.17 billion.
Corporate Education Technology (EdTech) Market: The corporate education technology (EdTech) market size is estimated to grow at a CAGR of 22.96% between 2022 and 2027 and the size of the market is forecast to increase by USD 55,495.96 million.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Type
- Market Segmentation by Sector
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
