Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) — The “Global Education Technology Market By Deployment (On-premises and Cloud), By Type (Hardware, Software, and Content), By End User (Enterprise and Consumer), By Industry, By Regional Outlook and Forecast, 2022-2028” report has been added to from ResearchAndMarkets.com offer.
The global education technology market size is expected to reach USD 283 billion by 2028, with the market growing at 15.5% CAGR during the forecast period.
Educational technology (EdTech) refers to the hardware and software used to educate children on a virtual level to enhance classroom learning and improve student achievement. By leveraging technology for learning and teaching, EdTech platforms help students overcome barriers and receive a well-rounded education. E-books, which can be downloaded online from anywhere in the world, are becoming increasingly popular among students. Digital content is cheaper to produce than print content, which has higher production expenses.
eBooks are available in a variety of languages and can be quickly translated and viewed by large numbers of people. Learners can also listen to academic material in an audio format to increase their vocabulary and develop better interpretive reading, which is especially beneficial for people with physical limitations. For example, Texthelp, a leading company in the field of EdTech assistive technologies, launched OrbitNote, a pdf-compatible software, which allows visually impaired students to access documents by recording voice notes, in January 2022.
OrbitNote should also allow users to interact with digital copies in a whole new way. Companies are expected to be able to create a welcoming, dynamic and collaborative environment for all. EdTech solutions are expected to emerge alongside advancements in cutting-edge technologies such as AI, IoT, and AR/VR, and play a vital role in expanding the market. The use of augmented reality and virtual reality in EdTech solutions allows students to have a more participatory experience. It allows students to explore and interact with abstract concepts in a natural way, resulting in increased student engagement.
For example, zSpace, Inc., a US-based EdTech company that offers blended or distance learning, introduced new AR/VR learning equipment in January 2022 that is expected to allow students to engage with multi-layered content in a virtual world without the need for glasses. The implementation of blockchain technology, however, allows end users to maintain and protect student and learner records, allowing educators to study consumption patterns of content provided to students and make decisions based on the data.
COVID-19 Impact Analysis
Due to the closure of educational institutions during the COVID-19 crisis, distance education is among the major shifts in the EdTech and smart classroom industries. The pandemic has dramatically changed the way data is learned. There is a shift in the operations of different sectors from the in-person platform to the digital platform. Due to social distancing conventions, students are turning to digital learning ideas through digital platforms. Since everyone has accepted the new normal and digitization is at its peak, the demand and growth of educational technologies and solutions are expected to increase in the coming years.
Market Growth Factors
Growing Technology Improvements
EdTech solutions are expected to grow alongside technological advancements such as IoT and AI. The use of augmented reality and virtual reality in these systems allows students to have a more engaged learning experience. It allows students to develop and interact with abstract topics in a natural way, which increases their engagement. Additionally, the use of blockchain technology allows consumers to maintain and protect student and learner records, allowing educators to examine resource consumption patterns and make data-driven decisions.
Customization of various learning opportunities
Access to educational information is available 24 hours a day, seven days a week, thanks to technology. Classes can be taken entirely online using a laptop or mobile device. Hybrid learning models combine remote access to technology with frequent in-person class sessions.
It is possible to use technology to adapt the learning plans of each student in both cases. Teachers can design lessons based on the interests and strengths of their students. Students could study at their own pace, which is an added advantage. Additionally, students can revisit the videos in the lesson plan when they need to study class material to gain a better understanding of key ideas. Teachers can use the data collected by these online activities to find out what students have encountered with certain courses and provide additional help and support.
Market restraining factors
Reduce direct communication between peers
Technology is often designed with the best intentions in mind: to save time and facilitate specific mechanical tasks. However, almost all school tasks have been automated due to advancements in technology. As a result, what started out as a good idea ended up in a situation where future generations should be unable to perform basic cognitive tasks without the help of technology.
Moreover, it should be noted that when children rely on technology to solve all their problems in school, they gradually lose their problem-solving skills which are in high demand. Teachers and educational institutions as a whole must constrain the use of technology in education as the only response to this challenge.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
220.127.116.11 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Competitive Analysis – Global
3.1 Cardinal matrix
3.2 Recent Industry-Wide Strategic Developments
3.2.1 Partnerships, collaborations and agreements
3.2.2 Product launches and product extensions
3.2.3 Acquisitions and mergers
3.2.4 Geographic expansions
3.3 Main winning strategies
3.3.1 Percentage Breakdown of Top Leading Strategies (2018-2022)
3.3.2 Key Strategic Movement (2019 Product Launches and Product Extensions Nov – 2022 Jun) Key Players
3.3.3 Key Strategic Movement (Partnerships, Collaborations and Agreements 2019, Feb – 2022, May) Key Players
Chapter 4. Global Education Technology Market by Deployment
4.1 Global Field Service Market by Region
4.2 Global Cloud Market by Region
Chapter 5. Global Education Technology Market by Type
5.1 Global Computer Hardware Market by Region
5.2 Global Software Market by Region
5.3 Global Content Market by Region
Chapter 6. Global Education Technology Market by End User
6.1 Global Commercial Market by Region
6.2 Global Consumption Market by Region
Chapter 7. Global Education Technology Market by Sector
7.1 Global K-12 Market by Region
7.2 Global Preschool Market by Region
7.3 Global Higher Education Market by Region
7.4 Global Others Market by Region
Chapter 8. Global Education Technology Market by Region
Chapter 9. Business Profiles
9.1 Google LLC
9.1.1 Company Overview
9.1.2 Financial analysis
9.1.3 Sectoral and regional analysis
9.1.4 Research and development costs
9.1.5 Recent Strategies and Developments
18.104.22.168 Partnerships, collaborations and agreements
22.214.171.124 Product launches and product extensions
126.96.36.199 Acquisition and merger
9.1.6 SWOT Analysis
9.2 Microsoft Corporation
9.2.1 Company Overview
9.2.2 Financial analysis
9.2.3 Sectoral and regional analysis
9.2.4 Research and development costs
9.2.5 Recent Strategies and Developments
188.8.131.52 Product launches and product extensions
184.108.40.206 Acquisitions and mergers
9.2.6 SWOT Analysis
9.3 Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP)
9.3.1 Company Overview
9.3.2 Financial analysis
9.3.3 Regional Analysis
9.3.4 Research & Development expenses
9.3.5 Recent Strategies and Developments
220.127.116.11 Partnerships, collaborations and agreements
18.104.22.168 Acquisitions and mergers
9.4 Coursera, Inc.
9.4.1 Company Overview
9.4.2 Financial analysis
9.4.3 Sectoral and regional analysis
9.4.4 Research and development costs
9.4.5 Recent Strategies and Developments
22.214.171.124 Partnerships, collaborations and agreements
126.96.36.199 Acquisitions and mergers
9.5 Chegg, Inc.
9.5.1 Company Overview
9.5.2 Financial analysis
9.5.3 Product Line Analysis
9.5.4 Research and development costs
9.5.5 Strategies and recent developments
188.8.131.52 Product launches and product extensions
9.6 edX, Inc. (2U, Inc.)
9.6.1 Company Overview
9.6.2 Financial analysis
9.6.3 Sectoral and regional analysis
9.6.4 Strategies and recent developments
184.108.40.206 Product launches and product extensions
9.7.1 Company Overview
9.7.2 Strategies and recent developments
220.127.116.11 Partnerships, collaborations and agreements
18.104.22.168 Product launches and product extensions
22.214.171.124 Acquisition and merger
9.8 Upgrading Private Limited Education
9.8.1 Company Overview
9.8.2 Strategies and recent developments
126.96.36.199 Product launches and product extensions
188.8.131.52 Acquisitions and mergers
9.9 Udacity, Inc.
9.9.1 Company overview
9.9.2 Strategies and recent developments
184.108.40.206 Partnerships, collaborations and agreements
220.127.116.11 Geographic extensions
9.10.1 Company Overview
9.10.2 Strategies and Recent Developments
18.104.22.168 Partnerships, collaborations and agreements
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