The EdTech market will generate USD 911.9 billion by 2030. The growth of this industry is ascribed to the improvements in connectivity infrastructure, increased VC and private equity investment, surging penetration of smartphones, and the arrival of 5G technology, says P&S Intelligence.
Improving Student Engagement
Student engagement is taking a leading role among teachers. Innovation is important for industry players because of using next-generation interactive whiteboards and their change from projector-based displays to touchscreen interfaces. These inventions improve the way students learn actively and develop their thinking capabilities.
Empowering Teachers with Student Information Systems
Both teachers and students now have the ability to look up on student information systems. These systems attempt to create complete student profiles so that educators can make resourceful and proper decisions for each student’s performance/needs.
Hardware Dominance in EdTech
Hardware is seen as a major force behind the growth of the EdTech industry. This development has been positively influenced by the increasing sales of hardware components like digital displays, SD cards, laptops, and tablets, particularly in developing nations.
Individual Learners: A Driving Force in EdTech
Amongst various Edtech end users, individual learner occupies a prominent place. This is because of their inclination towards attaining new skills, along with improved federal investment in the education sector.
Institutes End User: Swift Development Via Mergers & Acquisitions
The institute’s area is likely to exhibit the highest compound annual growth rate of more than 15% in the years to come. The expansion is mainly stimulated by the active participation of EdTech firms in mergers & acquisitions.
K-12 Applications: Leading the Way with Gamification
K-12 is leading the EdTech applications. The swift spread of gamification methods was the factor that significantly helped in improving the math skills of students from this segment.
APAC: A Heart in EdTech Growth
APAC plays a leading role in the development of EdTech, due to a significant increase in internet utilization as well as smartphone penetration.
Also, the region’s technology and service industries which are advanced have driven the use of innovative learning and teaching approaches such as video-assisted learning, AR, and AI.
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What is North America EdTech Industry Landscape?
North America holds a significant position in the EdTech industry, owing to the increased investments in the U.S. education sector and the attempts of businesses to scale their operations globally.
Coming to an End
With the continuous improvements in connectivity infrastructure and the extensive acceptance of 5G technology, the EdTech industry is poised for continuous development and innovation in the coming years.