NEW YORK, Jan. 5, 2024 /PRNewswire/ — The education technology market in North America is estimated to grow by USD 42.98 billion from 2022 to 2027, growing at a CAGR of 13.37%. The education technology market in North America is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer education technology market in North America are Blackboard Inc., Chegg Inc., Coursera Inc., 2U Inc., Alphabet Inc., Instructure Holdings Inc., Microsoft Corp., Udacity Inc., ApplyBoard Inc., Think and Learn Pvt. Ltd., International Business Machines Corp., MAXHUB, PowerSchool Holdings Inc., Cornerstone OnDemand Inc., Simplilearn, Ellucian Co. LP, Skillsoft Corp., SkyPrep Inc., Promethean World Ltd., and Quizizz.
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Company Offering:
- 2U Inc. – The company offers educational technology such as the edX in-platform learning assistant, edX Xpert, and the edX ChatGPT plugin used by learners to discover career-relevant learning pathways, receive learning assistance, and get real-time support, under its subsidiary edX Inc.
- Alphabet Inc. – The company offers educational technology such as Google Workspace and Google Classroom for online classes, managing assignments, and organizing daily tasks.
- ApplyBoard Inc. – The company offers educational technology such as the ApplyProof AI tool which offers peer-to-peer verification of LoA or Letters of Acceptance from a university.
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Market Dynamics
- Impactful driver- Emergence of virtual schools
- Key Trend – Growing inclination toward integrating AR, VR, and artificial intelligence (AI) in smart classrooms
The growing inclination toward integrating AR, VR, and artificial intelligence (AI) in smart classrooms is an emerging market trend. These technologies help to create rich learning environments for students. Such factors make them the clearest choice for improving the overall educational experience for students and teachers. Along with augmented reality and virtual reality, another important emerging technology that is attracting the attention of several players in the education sector is AI. - Major Challenges – Availability of open-source learning content
Market Segmentation
- Based on End-User, the business segment will be significant during the forecast period. The partnerships and collaborations between educational institutions, ed-tech companies, and content developers drive the segment growth. They collaborate to create significant opportunities for providers operating in the North American – educational technology market. Collaborations and partnerships are increasingly becoming a crucial part of this developing ecosystem in North America. For instance, in February 2022, Greenfield Community College (GCC) partnered with Upright Education to offer new skills in software development and technology,
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Related Reports:
The higher education testing and assessment market is estimated to grow at a CAGR of 6.32% between 2022 and 2027. The size of the market is forecast to increase by USD 6,481.55 million.
The online higher education market size in the US is expected to increase by USD 33.35 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 19.82%.
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Education Technology Market Scope in North America |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.37% |
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YoY growth 2022-2023 (%) |
12.85 |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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