Education Technology Market Size, Share, Growth & EdTech Industry Report, 2
Global Education Technology Market
The GMI Research report states that the Education Technology Market will expand over the forecast period. This is because of the surging prominence of digital classrooms and ongoing modernisations in technology.
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Education Technology Market Dynamics
The accelerating penetration of smart devices in the industry has transformed the educational sector, thus encouraging the growth of the global education technology industry. Further, the surging espousal of education technology across academic and non-academic sectors will positively influence the market growth. Further, the higher education and K-12 industry have perceived a higher espousal of EdTech solutions and offerings. Besides formal education digital learning plays an important role to encourage adults enhance their skill sets throughout their careers. Technology plays a crucial role in encouraging adults to overcome various difficulties, such as offering students the elasticity to establish new skills without restricting to a specified location or accessibility of resources. Additionally, the introduction of 4G LTE and JIO in India has remarkably influenced the educational technology market growth.
The widespread outburst of the coronavirus crisis has elevated the education industry. For example, in accordance with the BYJUY’S, approximately 35 million new users were enumerated to the platform, in the first and second quarter of 2020, which presents the expansion of company and the industry during the pandemic. However, the inflated-cost price concerned with the software and common learning packages will restrain the education technology market size.
Sector Segment Drivers
Based on the sector, K-12 sector is predicted to lead the overall educational technology market over the forecast period. A major part of the teachers in the K-12 sector encouraged the gamification initiatives to establish the math learning skills in students with the incorporation of project-based work and practical in schools. Additionally, as per the education technology market forecast, the integration of technologies in this sector allows captivating content and offering experiences, such as virtual field trips and complicated lab-based experiments, thus leading to an involving learning experience.
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