EdTech Market to Record 20.93% Y-O-Y Growth Rate in 2021 | Cloud Deployment is emerging as an appealing alternative for EdTech companies | Technavio

• Total Pages: 120
• Companies: 10+ – Including Alphabet Inc., Blackboard Inc., Chegg Inc., Coursera Inc., Edutech, edX Inc., Instructure Inc., Microsoft Corp., Think and Learn Pvt. Ltd. and Udacity Inc. among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segment: Sector (K-12, Higher education, and others)
• Geographies: APAC (China and Japan), Europe (Germany and UK), North America (US), South America, and MEA

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According to the recent market study by Technavio, the EdTech Market is expected to increase by USD 112.39 billion from 2020 to 2025. However, the market is anticipated to witness a decelerating CAGR of 17.85% during the forecast years. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate of 46% among the other regions. The US is a key market for Edtech.

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Vendor Insights-
The global EdTech market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Moreover, vendors are also focused on offering products and services with high differentiation.

Various players in the market are engaging in strategic partnerships and acquisitions for expanding their reach in the Edtech market. For instance, in September 2021, Microsoft Corp. partnered with Ed4All to transform learning and empower students with digital skills. Furthermore, in the same year, the company collaborated with AICTE, NASSCOM, EY, GitHub, and Quess Corp to empower India's youth with tech skills to be job-ready.

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Regional Market Outlook
The Edtech market share growth in North America will be significant during the forecast period. The US is a key market for Edtech in North America. Moreover, market growth in North America will be faster than the growth of the market in Europe, South America, and MEA regions.

Integration of cloud computing and cloud-based solutions are gaining popularity in various sectors due to their ability to speed the development and implementation of novel solutions and enhanced user experience and operational productivity. Moreover, these cloud-based solutions provide the education enterprises and institutions with simple scalability and flexibility in operations with lower overall costs and reduced operational hazards.

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Latest Drivers & Challenges Driving the Market-

• EdTech Market Driver:
• The shift of learners towards eBooks:

Amazon has created a revolution in the US by the deployment of an e-reader which is easy to use and makes it convenient for the customers to purchase books at competitive prices. In addition, the imposition of lockdown in the past year has fueled the adoption of e-books due to their flexibility and simplicity. Also, due to the absence of other options such as outdoor games people engaged more in reading e-books during their spare time. Additionally, the instructors would compile reading materials from various sources for students to access on their handheld devices or computers. Therefore, the growing flexibility provided by e-books is estimated to boost the global EdTech market during the forecast period.

• EdTech Market Challenges:
• Availability of open-source learning content:

The lockdown situation has revolutionized the centuries-old tradition of visiting schools as school and university classrooms are now accessed on laptops and smartphones through the internet. Before the lockdown, most of the universities worldwide were offering open online courses as a supplement for face-to-face teaching and learning. Moreover, online education has become inclusive which has led to the growth of open-source learning content. Additionally, the institutes and universities are offering either free of cost or charging a minimum amount for the courses provided. Thus, the large availability of open-source learning content is expected to hinder EdTech's market growth during the forecast period.

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