NEW YORK, April 18, 2022 /PRNewswire/ — The global education technology market size was estimated at $237.6 billion in 2021, and it is expected to touch $998.4 billion by 2030, at a CAGR of 17.3%. With the development of technologies such as AI and IoT, Edtech solutions are set to evolve. Additionally, the incorporation of VR and AR in these solutions supports a more-interactive learning experience for students.
Other factors driving the demand for EdTech solutions include the developments in connectivity infrastructure, surging smartphone penetration, increasing speed of the internet, and growing investments by private equity and venture capital firms. In addition, learning material is easily accessible through smartphone apps. Furthermore, the increasing disposable income has advanced the demand for mobile learning platforms.
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COVID-19 has boosted the adoption of advanced education technology and emphasized the prospect of education innovations encouraged by EdTech institutions. The pandemic forced many students to enhance their skills and strengthened their reliance on educational technology. As the number of people utilizing different EdTech tools grew, so did the demand to go digital.
Browse detailed report on Global EdTech Market Trends and Future Growth Study 2022-2030
Big players in the education technology market are Blackboard Inc., Chegg Inc., Edutech, Coursera Inc., edX Inc., Instructure Inc., Udacity Inc., Google LLC, Microsoft Corporation, and Think and Learn Private Limited (BYJU’S). McGraw Hill started a collaboration with TutorMe LLC in July 2020 to deliver university students one-on-one tutoring sessions free of cost. McGraw Hill registered more than 4.3 million college student subscriptions in 2020.
Global Artificial Intelligence in Education Market Growth and Business Opportunities
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Prajneesh KumarP&S IntelligencePhone: +1-347-960-6455Email: [email protected] Web: https://www.psmarketresearch.com Follow Us: LinkedIn Twitter
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