The latest research study “Edtech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global edtech market size reached US$ 194.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 452.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.
Edtech, also called education technology, represents a technology that is utilized to deliver education on a virtual level. It usually consists of hardware and software that are used to provide benefits to students and improve their education outcomes. In line with this, edtech assists students in overcoming hurdles to obtaining a comprehensive education. It generally offers various benefits, such as cost-efficiency, flexibility, portability, etc. Listeners with disabilities can benefit from audio formats of educational content to enhance their vocabulary and learn to read interpretively. Consequently, edtech is gaining extensive traction among learners.
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Edtech Market Trends and Drivers:
The shifting consumer preferences from projector-based displays towards touchscreen displays to provide more student engagement are primarily driving the edtech market. Additionally, the increasing penetration of high-speed internet, the introduction of 5G, and the widespread adoption of smart devices are further catalyzing the market growth. Besides this, the inflating digitization in the education sector and the rising investments in online learning and distance learning programs, owing to their flexibility and real-time feedback, are acting as significant growth-inducing factors. Moreover, the escalating demand for digital platforms, on account of the implementation of social distancing norms by government bodies across countries, is positively influencing the global market. Apart from this, the growing levels of disposable income and extensive R&D activities are also stimulating the market growth. Furthermore, key market players are using Artificial Intelligence (Al) and Machine Learning (ML) technologies for creating personalized user experiences, which is anticipated to fuel the edtech market over the forecasted period.
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Edtech Market Report Segmentation:
List of Major Key Players:
The major players in the market are
The report has been segmented the market into following categories:
Breakup by Sector:
Breakup by Type:
Breakup by Deployment Mode:
Breakup by End User:
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Breakup by Region:
Key highlights of the report:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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The post At 14.3% CAGR Edtech Market by 2028 | BYJU’S, Edutech, Coursera Inc., Google LLC, upGrad Education Private Limited first appeared on PressRelease.cc.
At 14.3% CAGR Edtech Market by 2028 | BYJU’S, Edutech, Coursera Inc., Google LLC, upGrad Education Private Limited first appeared on Web and IT News.
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