DUBLIN--(BUSINESS WIRE)--The "Global Education Technology Market Size, Share & Industry Trends Analysis Report By Deployment (On-premise and Cloud), By Type (Hardware, Software, and Content), By End User (Business and Consumer), By Sector, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Education Technology Market size is expected to reach $283 billion by 2028, rising at a market growth of 15.5% CAGR during the forecast period.
Education technology (EdTech) refers to hardware and software that is used to educate children on a virtual level in order to improve classroom learning and improve student results. By leveraging technology for learning and teaching, EdTech platforms assist students in overcoming obstacles and receiving a full education. eBooks, which can be downloaded online from anywhere in the world, are becoming increasingly popular among students. Digital content is less expensive to produce than printed content, that has greater production expenses.
Digital books come in a variety of languages and may be quickly translated and accessed by a large number of people. Learners can also hear to the academic material in an audio format to increase their vocabulary and develop better interpretive reading, which is especially beneficial for individuals with physical limitations. For example, Texthelp, a leading EdTech assistive technology company, released OrbitNote, a pdf-enabled software, which allows visually impaired students to access documents by recording voice notes, in January 2022.
OrbitNote is expected to also allow users to interact with digital copies in a completely new way. Businesses is expected to be able to create a welcoming, dynamic, and collaborative environment for all. EdTech solutions are predicted to emerge in tandem with advances in cutting-edge technologies like AI, IoT, and AR/VR, and to play a vital role in the market's expansion. The use of AR and VR in EdTech solutions allows students to have a more participatory experience. It enables students to explore and interact with abstract concepts in a natural way, resulting in increased student engagement.
For example, zSpace, Inc., a U.S.-based EdTech company that provides hybrid or remote learning, introduced a new AR/VR learning gear in January 2022 that is expected to enable students engage with multi-layered content in a virtual world without the requirement for glasses. The implementation of blockchain technology, but, enables end-users to keep and safeguard student records and learners, allowing educators to study the consumption patterns of the content provided to students and take data-driven decisions.
Market Growth Factors
Rising improvements in technologies
EdTech solutions are projected to expand in lockstep with technological advancements such as IoT and AI. The use of AR and VR in these systems allows students to have a more engaged learning experience. It allows students to develop and interact with abstract subjects in a natural way, which increases their engagement. Also, the usage of blockchain technology allows consumers to keep and protect records of students and learners, enabling educators to examine consumption patterns of resources and take data-driven decisions.
Customization of various learning opportunities
Access to instructional information is available 24 hours a day, seven days a week, owing to technology. Classes can be completely completed online using a laptop or mobile device. Hybrid learning models combine remote access to technology with frequent in-person classroom sessions.
It is possible to employ technology to adapt learning plans for individual 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 extra benefit. In addition, students could review videos in the lesson plan when they require to study class material to gain a greater understanding of key ideas. Teachers can use the data collected by these online activities to discover what students battled with certain courses and provide additional help and support.
Market Restraining Factors
Decrease direct peer communication
Technology is often designed with the best of intentions in mind: to save time and make specific mechanical tasks easier. Almost all school tasks, though, have been automated because to technological advancements. As a result, what started out as a good idea has resulted in a situation where future generations is expected to be unable to execute basic cognitive tasks without the aid of technology.
Furthermore, it should be noted that when children rely on technology to solve all of their issues at school, they progressively lose their problem-solving skills that are in high demand. Teachers and educational institutions as a whole must put constraints on the usage of technology in education as the only answer to this challenge.
Scope of the Study
Market Segments Covered in the Report:
By Deployment
- On-premise
- Cloud
By Type
- Hardware
- Software
- Content
By End User
- Business
- Consumer
By Sector
- K-12
- Preschool
- Higher Education
- Others
By Geography
- North America
- Europe
- Asia Pacific
- LAMEA
Key Market Players
- Google LLC
- Microsoft Corporation
- Instructure, Inc.
- Coursera, Inc.
- Chegg, Inc.
- edX, Inc.
- BYJU'S
- Upgrad Education Private Limited
- Udacity, Inc.
- Edutech
For more information about this report visit https://www.researchandmarkets.com/r/r832v6
