EdTech Market By Type (Hardware, Software) , By Deployment Mode (On-premise, Cloud) By Sector (Preschool, K-12, Higher Education, Others) By End User (Business, Individual) : Global Opportunity Analysis and Industry Forecast, 2024-2034
EdTech Market
The edtech market was valued at $139.5 billion in 2023 and is projected to reach $518.9 billion by 2034, growing at a CAGR of 12.9% from 2024 to 2034.
Edtech is an abbreviation for education technology that involves the assimilation of computer systems and software into learning practices. The communicative attributes of edtech focus on creating a highly engaging, personalized, and inclusive learning environment for students. It involves the development of applications, online courses, and interactive platforms that enhance the teaching ability of educators. Edtech elevates the learning outcomes for different environments such as in-person, classrooms, remote, or hybrid.
Increase in the popularity of distance-based learning programs is a key driver of the edtech market. Several educational institutions are notably embracing digital learning platforms, thereby fueling the creation of advanced edtech. In addition, upsurge in investments for the refinement of edtech infrastructure is propelling the development of the market. An emerging trend poised to transform the edtech market is the mass adoption of generative AI. It is projected to elevate the quality of education by generating original and accurate content through data analytics features. Generative AI facilitates the development of an adaptive learning environment, which fuels continuous improvements among students.
However, the development of a reliable edtech infrastructure is an intricate and cost-intensive process that restricts the development of the market. In addition, limited access to the internet and advanced technologies across several areas hampers the edtech market growth. On the contrary, boost in the popularity of skill-building activities in the corporate sector via digital platforms is anticipated to open new avenues for the edtech market. Several organizations are significantly investing in skill transformation platforms to promote talent development among their employees, presenting lucrative opportunities for the edtech market.
Segment ReviewThe edtech market is segmented into type, deployment mode, sector, end user, and region. On the basis of type, the market is bifurcated into hardware and software. Depending on deployment mode, it is divided into on-premise and cloud. As per sector, it is classified into preschool, K-12, higher education, and others. According to end user, it is categorized into business and individual. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key FindingsOn the basis of type, the hardware segment dominated the market in 2023.
Depending on deployment mode, the on-premise segment held a high share of the market in 2023.
As per sector, the K-12 segment acquired a high stake in the market in 2023.
According to end user, the business segment accounted for a high market share in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe major players of the global edtech market include Think and Learn Private Limited, Blackboard Inc., Chegg, Inc., Coursera Inc., EDUTECH INC, edX Inc., Google LLC, Instructure, Inc., Microsoft Corporation, and Udacity, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeHardware
Software
By Deployment ModeOn-premise
Cloud
By SectorPreschool
K-12
Higher Education
Others
By End UserBusiness
Individual
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East and Africa
Key Market PlayersThink and Learn Private Limited
Blackboard Inc.
Chegg, Inc.
Coursera Inc.
EDUTECH INC
edX Inc.
Google LLC
Instructure, Inc.
Microsoft Corporation
Udacity, Inc.