The Business Research Company’s Educational Technology Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Educational Technology Global Market Report 2023 evaluates educational technology market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global educational technology market is expected to grow from $126.72 billion in 2022 to $146.28 billion in 2023 at a compound annual growth rate (CAGR) of 15.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The educational technology market is expected to reach $257.03 billion in 2027 at a CAGR of 15.1%.
The growing demand for online educational platforms is expected to propel the growth of the educational technology market going forward. Online educational platforms are digital platforms that offer a variety of educational resources, courses, and tools to facilitate learning outside of traditional classroom settings. Technology in education allows a shift from static learning materials to more dynamic interactive media content. On online education platforms, students and teachers can report and analyze progress based on each other’s performance with the help of educational technology. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based independent international organization, the online learning platform Coursera reported 92 million registered users in 2022, an increase from 71 million users in 2020 and 44 million users in 2019. Therefore, the growing demand for online educational platforms is driving the growth of the educational technology market.
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The educational technology market segments in the report are:
1) By Type: Hardware, Software, Content
2) By Sector: Preschool, K-12, Higher Education, Other Sectors
3) By End-User: Business, Consumer
The table of contents in TBRC’s educational technology market report includes:
5.1. Global Educational Technology Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
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