Edtech Market Report 2024 (Global Edition)

Global Edtech Market Report 2024 Market Size Split by Components (Hardware, Interactive White Board, AR/VR Devices, Projectors, Webcasting Devices, Others, Software, Learning Management System Platfor...

Edtech Market Report Description

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Competitive Landscape of the Edtech Market

The competitive landscape of the edtech market is characterized by a broad range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Major players in the market account for a considerable share of the market and are concentrating on expanding their customer base across the world.

In April 2021, EdCraft, an education platform founded by McKinsey alumni, secured USD 1 million in funding from angel investors in Silicon Valley. EdCraft is an online educational platform for primary school children that is accessible on mobile and web. (Source: https://www.consulting.us/news/5888/edtech-platform-founded-by-mckinsey-alumni-ropes-in-funding) In March 2020, Telkomsel, an Indonesian cellular network operator, declared plans to deliver 500,000 mobile phones to kids and 30GB of free data per month to utilizers of Ruangguru, a K-12 learning app. (Source: http://www.thejakartapost.com/life/2020/03/28/telkomsel-provides-students-with-30gb-of-free-internet-for-distance-learning.html)

Top Companies Market Share in Edtech Industry: (In no particular order of Rank)

• Coursera Inc
• BYJU’S
• Chegg Inc.
• 2U Inc.
• Amazon Inc.
• Blackboard Inc.
• Edutech
• Google LLC
• edX Inc.
• Instructure
• Inc.
• Udacity
• Inc.
• upGrad Education Private Limited
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Edtech Market

Which Region Dominates the Edtech Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerges as the dominant region in the edtech market due to its advanced technological infrastructure, high adoption of digital learning solutions, and strong investment in education technology. The region is home to major edTech companies, innovative startups, and renowned educational institutions that drive the development and adoption of cutting-edge technologies.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Edtech market due to the region's rising prevalence of computing and smart devices among the masses. In recent times, growing countries such as India have noticed a wave of inexpensive broadband connectivity, resulting in multiple education technology firms reaching out to the population. This trend is anticipated to allow users to experience educational learning with the help of internet connectivity.

 

The current report Scope analyzes Edtech Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Edtech

According to Cognitive Market Research, the global ddtech market size was estimated at USD 143815.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 57526.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.

• In North America, the edtech market exhibits due to the region's strong appetite for digital learning solutions and technology-enabled educational experiences.
• This heightened demand can be attributed to several underlying trends, including the increasing adoption of online and hybrid learning models in educational institutions.
• Moreover, cloud-based solutions offer unparalleled scalability and flexibility, enabling educational institutions to adapt to changing needs and scale their technology infrastructure as demand fluctuates.
• In conclusion, North America presents a lucrative market opportunity for edtechs due to the existence of numerous significant manufacturers, & other necessary resources at a reasonable cost.
• According to Cognitive Market Research, the US had a major share in the edtech market, with a market size of USD 45388.08 million in 2024.
• The market is projected to grow at a CAGR of 12.0% during the forecast period. The demand is amplified by the nation's rising demand for personalized and adaptive learning solutions.
• The Canadian edtech market had a market share of USD 6903.13 million in 2024 and is projected to grow at a CAGR of 13.0% during the forecast period. Introduction of innovative technology applications by Canadian companies.
• The Mexico edtech market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 5234.87 million in 2024.

Europe Edtech

According to Cognitive Market Research, the global edtech market size was estimated at USD 143815.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 43144.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.5% from 2024 to 2031.

• In Europe, the region's investments have been focused on areas such as online training, corporate training, and language learning.
• The regional market is acquiring traction not only with the rising presence of EdTech hubs in Oslo, London, and Helsinki, among others, but also with rising attention from venture capitalists, governments, and EdTech accelerators.
• Segmentation analysis further highlights the rapid pace of technological innovation and digital disruption across industries.
• To stay competitive in the digital economy, firms must invest in continuous learning and skills development to ensure that their employees are equipped with the latest tools, techniques, and expertise required to excel in their roles.
• In conclusion, Europe represents a lucrative market due to the rising prevalence of computing and smart devices among the masses.
• The United Kingdom's edtech market had a market share of USD 7248.29 million in 2024 and is projected to grow at a CAGR of 13.3% during the forecast period.
• Edtech sales in the UK are witnessing an upswing due to the nation's technological innovation and increasing consumer demand.
• The France edtech market is projected to witness growth at a CAGR of 11.7% during the forecast period with a market size of USD 3969.30 million in 2024.
• According to Cognitive Market Research, the German edtech market was valued at USD 8542.62 million in 2024 and is projected to grow at a CAGR of 12.7% during the forecast period.
• The edtech sector surged in Germany due to the presence of prominent market players. The Italian edtech market is projected to witness growth at a CAGR of 11.9% during the forecast period, with a market size of USD 3710.43 million in 2024.
• The Russia edtech market is projected to grow at a CAGR of 11.5% during the forecast period, reaching USD 6687.41 million in 2024.
• The Spanish edtech market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 3537.85 million in 2024.
• The Luxembourg edtech market is projected to witness growth at a CAGR of 12.6% during the forecast period, with a market size of USD 1337.48 million in 2024.
• The Portugal edtech market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 906.04 million in 2024.
• The Greece edtech market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 517.73 million in 2024.
• Rest of Europe's edtech market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 6687.41 million in 2024.

Asia Pacific Edtech

According to Cognitive Market Research, the global Edtech market size was estimated at USD 143815.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 33077.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.0% from 2024 to 2031.

• In the Asia Pacific region, the edtech market exhibits robust growth prospects driven by experience in educational learning with the assistance of internet connectivity.
• Developing nations such as India have witnessed a wave of affordable broadband connectivity, resulting in various education technology firms reaching out to the population.
• Segmentation analysis reveals the growing emphasis on talent development and employee engagement as key drivers of organizational success.
• By investing in professional development initiatives and offering access to online learning platforms, businesses can attract top talent, retain high-performing employees, and foster a culture of continuous learning and innovation.
• In conclusion, the Asia Pacific region presents immense expansion opportunities due to the rapid pace of technological innovation.
• According to Cognitive Market Research, the China edtech market size was valued at USD 14884.87 million in 2024 and is projected to grow at a CAGR of 15.5% during the forecast period.
• Edtech sales surged in China due to the nation's technological advancements.
• The Japan edtech market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 4564.69 million in 2024.
• The Indian edtech market had a market share of USD 3969.30 million in 2024 and is projected to grow at a CAGR of 17.8% during the forecast period. India's presence of emerging and leading firms.
• The South Korean edtech market is projected to grow at a CAGR of 15.1% during the forecast period, reaching a market size of USD 3307.75 million in 2024.
• The Australia edtech market is projected to witness growth at a CAGR of 15.7% during the forecast period with a market size of USD 1720.03 million in 2024.
• The South East Asia edtech market is projected to witness growth at a CAGR of 17.0% during the forecast period, with a market size of USD 2282.35 million in 2024.
• The Rest of Asia Pacific edtech market is projected to witness growth at a CAGR of 15.8% during the forecast period, with a market size of USD 2348.50 million in 2024.

South America Edtech

According to Cognitive Market Research, the global edtech market size was estimated at USD 143815.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 7190.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2031.

• In Latin America, the edtech market showcases promising growth prospects driven by the region's growing awareness of the benefit of digital skills in the job market, which pushes individuals towards online learning.
• Additionally, government initiatives promoting digital education and the need for scalable solutions in remote learning due to geographic challenges further propel the market.
• Segmentation analysis reveals a growing emphasis on talent development and employee engagement.
• By investing in professional development initiatives and offering access to online learning platforms, businesses can attract top talent, retain high-performing employees, and foster a culture of continuous learning and innovation.
• In conclusion, Latin America presents significant growth opportunities driven by the advancement in the latest technologies, such as IoT, AI, and AR/VR.
• According to Cognitive Market Research, the Brazil edtech market size was valued at USD 3077.65 million in 2024 and is projected to grow at a CAGR of 14.0% during the forecast period.
• Edtech sales flourish in Brazil due to the nation's ongoing research and development.
• The Argentina edtech market had a market share of USD 1208.05 million in 2024 and is projected to grow at a CAGR of 14.3% during the forecast period.
• Argentina's increasing internet penetration and smartphone usage. The Colombia edtech market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 639.98 million in 2024.
• The Peru edtech market is projected to witness growth at a CAGR of 13.6% during the forecast period, with a market size of USD 589.64 million in 2024.
• The Chile edtech market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 517.73 million in 2024.
• The Rest of Latin America's edtech market is projected to witness growth at a CAGR of 12.5% during the forecast period, with a market size of USD 1157.71 million in 2024.

Middle East and Africa Edtech

According to Cognitive Market Research, the global edtech market size was estimated at USD 143815.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2876.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.

• The MEA edtech market showcases promising growth prospects driven by the region's increased government investment in education, rising demand for digital learning solutions, and a growing awareness of the significance of technology in education.
• With a young and tech-savvy population, coupled with a desire for quality education, MEA presents significant opportunities for EdTech companies to innovate and expand their reach.
• Segmentation analysis reveals cloud deployment eliminates the need for on-premises infrastructure and hardware maintenance, reducing upfront capital expenditures and ongoing operational costs for educational institutions.
• By leveraging cloud services, schools, colleges, and universities can redirect resources toward educational initiatives and student support services, maximizing their budgetary efficiency and investment in teaching and learning.
• In conclusion, MEA presents significant growth opportunities for the edtech market due to technological advancements.
• The GCC Countries' edtech market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 1231.06 million in 2024.
• Edtech sales flourish due to the region's increasing adoption of innovative and advancing technologies.
• The Egypt edtech market is projected to witness growth at a CAGR of 14.0% during the forecast period, with a market size of USD 302.01 million in 2024.
• The South African edtech market is projected to grow at a CAGR of 14.7% during the forecast period, reaching a market size of USD 454.46 million in 2024.
• The region's technological advancements are expanding the market. The Turkey edtech market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 247.36 million in 2024.
• The Nigeria edtech market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD 302.01 million in 2024.
• The Rest of MEA edtech market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 339.40 million in 2024.

Edtech Market Analysis

Edtech Market Components Segment Analysis

According to Cognitive Market Research, hardware stand out as the dominating category due to the proliferation of mobile devices, such as tablets, laptops, and smartphones, has revolutionized how students and educators engage with educational content both inside and outside the classroom. These devices serve as platforms for accessing digital textbooks, multimedia resources, and interactive learning applications, empowering learners to explore, collaborate, and create in ways previously unimaginable.

Software emerged as the fastest-growing category in the edtech market due to innovation in content delivery with the incorporation of advanced visualization techniques. This can be due to the availability of various e-learning portals delivering better-quality educational content in the form of test-prep materials, study notes, question banks, and learning videos.

• Hardware
• Interactive White Board
• AR/VR Devices
• Projectors
• Webcasting Devices
• Others
• Software
• Learning Management System Platform
• Virtual Classroom Software
• Others
• Services
• Managed Learning Services
• Professional Services
• Learning and Content Management
• Consulting
• Integration and Implementation
• Support and Maintenance

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Edtech Industry. Request a Free Sample PDF!

Edtech Market End-User Segment Analysis

According to Cognitive Market Research, the business category held the major market share due to increased demand for remote learning solutions, personalized education, and skill development. Key drivers include the adoption of online platforms by educational institutions, rising internet penetration, and the need for continuous learning. Businesses can capitalize on this trend by delivering innovative digital learning tools and content.

The fastest-growing category in the edtech market is consumer due to the rising awareness among parents and students, and the incremental shift from traditional education toward digital formats is projected to drive this segment's expansion. Lifelong learning is becoming a rising trend among adults and corporate workers as it delivers flexibility, concentrating time and location to gain additional knowledge.

• Business
• Consumer

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Edtech Application Segment Analysis

According to Cognitive Market Research, the dominating category is K-12 due to the growing adoption of educational technology solutions across primary and secondary education settings. This reflects the increasing importance of digital learning tools in K-12 curricula worldwide. As educational institutions continue to prioritize technology integration and digital transformation initiatives, the demand for K-12-focused edTech solutions is expected to remain strong, presenting significant opportunities for creation and investment in the years ahead.

The fastest-growing category in the edTech market is higher education due to the rising demand for flexible learning solutions, personalized education experiences, and the requirement for upskilling in a rapidly developing job market. Technological advancements, such as AI-driven adaptive learning platforms and virtual reality simulations, further fuel innovation and accessibility in education.

• Preschool
• K-12
• Higher Education
• Others

Edtech Deployment Segment Analysis

According to Cognitive Market Research, the dominating category is techs for on-premises due to the reliability and scalability of utilizing in the EdTech market. On-premises deployment is known as installing software or services on a firm's premises or procedures. The on-premises division is accountable for licensing, maintaining, and selling on-premises and mobile software developments and delivering software maintenance services.

The fastest-growing category in the edtech market is cloud due to the rising utilization of learning analytics, reduced cost of ownership, and rise in the adoption of mobile learning. Cloud deployment appeals to firms of all sizes because it delivers regular data backup, lower operational costs, lower capital, high security, and rapid deployment features for always-on functioning.

• Cloud
• On-Premises

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion