Edtech Market to reach US$ 288.4 Bn by 2031

DUBAI, United Arab Emirates, Feb. 16, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the demand registered in the Edtech market will increase at a healthy CAGR of 14.5% during the forecast period (2021-2031).

The overall sales in the Edtech market are expected to reach the valuation of ~US$ 74, Bn by the end of 2021. As per FMI, rapid technological advancements and introduction of learning through entertainment have increased the adoption of Edtech worldwide.

Edtech Market Base Year Value (2021)  US$ 74.2 Bn
Edtech Market Projected Year Value (2031) US$ 288.4 Bn
Edtech Market Growth Rate (2021-2031) 14.5% CAGR
Top 5 Vendor Market Share ~35%

As standardization is difficult while working with multiple sites, digital learning helps individuals to access content at any time of the day. It can also be accessed at any time in any part of the globe.

With new innovative tools or practices being launched in the digital technology, online learning is helping learners adopt new changes efficiently. Hence, learning management software (LMS) is gaining a wider acceptance globally.

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The LMS helps in managing the learning process and creating an engaging learning environment for adding more functionalities to enhance the learning capacities. Hence, companies are using LMS to make their employees better trained, and more knowledgeable about products and services.

Key Takeaways

  • By component, the hardware segment is anticipated to account for the leading share during the forecast period. However, the software segment is estimated to grow at a CAGR of 16.7% through 2031.
  • By end user, the academic institution segment is anticipated to increase at a CAGR of 16.7% between 2021 & 2031.
  • The market in U.S. is expected to expand at a CAGR of around 11.2% through 2031.
  • In India, Edtech market is estimated to grow by a CAGR of nearly 22.8% over the next ten years.
  • Edtech market in Japan is expected to witness growth by 5.1X during the forecast period.

“Key players in the market by offering attractive short term subscriptions pricing and gamified and contextualized interfaces to engage and retain the learning audience. This is expected to create growth avenues and reach large customer base,” says FMI Analyst

Adaptive Learning is Gaining Traction

Adaptive learning has gained more interest due to new product development, partnership among e-learning software providers and education publishers and significant investment in adaptive learning. Adaptive learning is gaining popularity as the development of new technologies like AR and AI which is giving adaptive learning a lift at another level. The adaptive learning has the advantage of robust analytics, it also helps in confidence-based assessments and pre-learning tests that help organizations to sidestep the drawbacks of generalized learning.

Adaptive learning ensures that each learner goes through the most effective learning path. Adaptive learning helps learners to gain confidence due to the personalized feedback provided. Adaptive learning model adoption can help learner to gain the objective knowledge and various skills.

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Scope Of Report

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis USD Million for Value
Key Regions Covered North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Key Countries Covered US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa
Key Segments Covered Component, End user and Region
Key Companies Profiled • Chegg

• Coursera

• Blackboard Inc.,

• Digital House

• Platzi

• PlelQ

• Agenda Edu

• UOL

• Crehana

• Smart Technologies

• EdX

• Microsoft

• Oracle Corporation

• Hurix Digital

• E-Zest Solutions Ltd

• Touch IT Technologies

• Promethean World

• SIMA E-learning

Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Initiative by Educational Institutes Creating Growth Opportunities

Education institutions are undertaking initiatives for encouraging the students for switching from the traditional textbooks to eBooks for learning seamlessly. For Instance, K-12 schools are replacing traditional study to new online learning to benefit student’s overall growth. This is creating opportunities for the players to offer their e-learning solution in the market.

Also, demand for micro learning is increasing as it is suitable way of learning for the new generation of learners that have shorter attention spans. Learners are provided information at a rate that matches their ability to help them absorb knowledge more efficiently. 

Micro learning also helps them to improve learning transfer by 71% compared to traditional learning methods. It generates 50% more engagement, while reducing development costs by 50% and increasing development speed.

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Edtech Market Outlook by Category
By Component:

  • Hardware
    • Interactive White Board
    •  AR/VR Devices
    •  Projectors
    •  Webcasting Devices
    •  Others
  • Software
    • Learning Management System Platform
    • Virtual Classroom Software
    • Others
  • Services
    • Managed Learning Services
    • Professional Services
      • Learning & Content Management
      • Consulting
      • Integration & Implementation
      • Support & Maintenance

By End User:

  • Government Organization
  • Academic Institution
  • Enterprises
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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https://www.globenewswire.com/news-release/2022/02/16/2386364/0/en/Edtech-Market-to-reach-US-288-4-Bn-by-2031-Comprehensive-Research-Report-by-FMI.html

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