K–12 Education Technology Market to Reach US Dollar at 19.8% CAGR
Dallas, Texas, Aug. 16, 2022 (GLOBE NEWSWIRE) — The Global K–12 Education Technology Market Will Grow from $105.68 Billion in 2022 to $105.68 Billion in 2029 at a CAGR of 19.8% Over the Forecast Period is projected to increase to $322.68 billion.
the main driving force behind K12 education technology market This includes increasing use of digital learning, increasing BYOD policies, business liquidity, broader government initiatives to develop LMS, and increased use of artificial intelligence (AI) and machine learning (ML) in LMS. includes an increase. The advent of technology in education has enabled schools and colleges to offer innovative solutions such as e-books, AR/VR interactive teaching materials, and recognized university-approved online courses. Hence, this is projected to drive the growth of the K-12 education technology industry.
The expansion of the K-12 education technology market is expected to be influenced by the increased use of EdTech (educational technology) solutions in both the academic and non-academic sectors. EdTech products and services have become more widely accepted in K–12 and beyond. Moreover, with the proliferation of smart devices, easy access to the internet, and the emergence of AR and VR for a more engaging educational curriculum, the K12 technology education industry is expected to have ample potential for expansion. Moreover, growing knowledge about the benefits of technology integration is expected to boost the expansion of the market.
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Around the world, Edtech solutions are growing in popularity as parents look for new ways to engage their children in the classroom. Additionally, the use of technology offers educational institutions several advantages for fully managing the student lifecycle, including cost-effective spending, automation of the student recruitment process, and connectivity between individuals, teams, and software. brought. Innovative and adaptable learning strategies like gamification, on the other hand, encourage student interaction and enhance learning ability as a whole. K12 The education technology industry will develop in the future as a result of increased knowledge of the many benefits of technology.
Thanks to the introduction of technology in education, schools and universities are now able to offer cutting-edge solutions such as e-books, augmented reality (AR) and virtual reality (VR) interactive content, and university-approved online courses. became. EdTech products and services have become more widely accepted in K–12 and beyond.
k-12 education technology market scope:
|Market size in 2029||US$322.68 billion|
|Target segment||Type, enabling technology, application, region|
|type cover||LMS, LCMS, LCDS, SRS, evaluation system|
|Target technology||educational analysis, educational games, educational security|
|Target application||online, offline|
|Target area||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Player Profiles||BYJU’S, Blackboard, Inc., Chegg, Inc., Coursera, Inc., Edutech, edX Inc., Google LLC, Instructure, Inc., Microsoft, Udacity, Inc., upGrad Education Pvt.|
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Demand is changing in the K–12 education technology market. With school finances under pressure, state and local institutions are redefining themselves when it comes to distance learning, placing more emphasis on cost efficiency when deciding where and how much to invest. Parents are increasingly in demand for tools that engage and teach their children. The major factors driving the growth of the K–12 education technology market are the proliferation of smart devices, easy access to the internet, and growing public awareness of the benefits of technology integration in the education sector.
North America is expected to hold the largest market share for k-12 technology. North America currently dominates the market due to increased investment from venture capitalists and private equity investors. As the industry matures and established competitors are differentiated from those who have recently entered the market, companies with significant sales growth are expected to attract greater investment. The region with the greatest growth is expected to be the Asia-Pacific region. The general rise in popularity of computing and smart devices is a result of the expansion of the Asia-Pacific region. Developing countries like India have recently experienced a surge in lack of access to internet connectivity, resulting in increased use of K–12 educational technology.
Main points of the table of contents:
2. Current status of Edtech
4. National Edtech Plan
5. Appendix: Glossary
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