Global EdTech Market’s Development for the next few years
According to Holon IQ recent report, the global EdTech market will reach $404B in total global expenditure by 2025. However, the overall Global Education and Training market size will decline because of a lower administrative cost. The key factors of this market shift are the deflation on education tuition, combined with cheaper/faster credible alternatives and digitization.
On the one hand, upskilling alternatives and cheaper education are gaining grip and transmitting confidence in the market. On the other hand, digitalization is expected to increase administrative efficiencies and productivity in the academic sector. Regarding this subject, The Grand View Research recently published a study, about Education Technology Market Size, which agrees with Holon IQ´s trend and adds that digital education is meant to prosper with a huge array of beneficiaries in different geographical regions, ages and socio-economic conditions.
Clearly, EdTech spendings have experienced a short term gush as a result of the COVID-19 and is expected to change to a long term integration of digital technologies and switch to higher implantation of online education in the next decade. A big part of this transition is directly related to the antiquated and outdated digital infrastructure in most of the public and educational sector; in addition, educational technologies are getting more sophisticated and price accessible for most of the institutions.
In addition to EdTech's main focus on the academic world, the B2C EdTech models are increasingly popular with students, parents and workers since they started looking for learning support and better and/or more direct career and academic results.
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