EdTech Market Trends

Growth Drivers

• Increasing consumer demand for online learning: Online education is becoming more popular, driven by various factors, including the growing use of technology, easy accessibility and availability, and the convenience of online courses. According to the statistics, more than 92 million students registered for Coursera’s online education courses in 2021, which increased from 71 million in 2020, and this data was recorded to 21 million in 2016.
• Rising disposable income: The booming economies and growing disposable income of consumers are also driving the demand for online education courses, leading to greater growth of the education technology market.
• Greater sustainability: The use of cloud-based education technologies can lead to greater energy and cost efficiency, providing a more sustainable approach to education delivery.
• Increasing global accessibility: The increasing adoption of technology and access to fast and stable internet connections allow for the expansion of the EdTech market to a global audience.

Challenges

• Limited integration: The lack of proper integration of technology along with its various applications can limit the effectiveness of the EdTech market as the technology is highly effective if it is used in isolation.
• Limited funding and resources: The need for new technology requires a certain funding, which is not always available to all stakeholders, such as schools, institutions, and others.
• High-security concerns such as data breaches, hacks, and cyber-attacks.