Investment Potential of Quickly Transformed EdTech Sector

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Today’s classrooms are now virtual with a heavy dose of technology like the use of smartphones, interactive online courses, and remote learning. The fact that education needs to change isn’t something new. Thinkers, authors, teachers, and political leaders have been saying it for many years. The concept of virtual classrooms and online classes was slowly picking up their pace, the Covid-19 outbreak accelerated this entire process opening up new vistas in the EdTech sector.


There is growing awareness around the valuable use of education technology to support students learning the 21st Century skills like coding, robotics, programming, and more. From submission of homework assignments online to getting coding and programming lessons from an online tutor, EdTech, or education technology encompasses everything. The idea of EdTech came as an experiment in providing education through an online medium. Now, it has transformed into a new breed of technology sector worth billions of dollars.

 

The global education technology market size

According to Grand View Research, the global education technology market size was valued at USD 76.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 18.1% from 2020 to 2027. The industry is primarily driven by the proliferation of smart technology used in the education domain along with the emergence of top-rated online learning platforms like ConnectBud, BYJU’S, VIPKid, and more.

 

An overview of global EdTech market 2020

 

·      From improving learning outcomes to using logic to solve real-world problems, the use of technology in the education sector has increased by more than 3x in the past decade.
 
·       The United States has the largest number of EdTech enterprises in the world, along with India, Brazil, United Kingdom, and China.
 
·      The impact of COVID-19 pandemic aided the dependency on online teaching-learning models to keep running education system is a significant reason driving the growth of the EdTech and smart classroom market in 2020 and the coming years.
 
·      In addition to EdTech’s primary role supporting the formal education sector, B2C EdTech models are on the rise as students, parents, and workers increasingly seek learning support and up-skilling for supplemental and/or more direct academic and career outcomes.

 

Investment potential in the EdTech sector

Our reliance on technology has increased multifold over the years. The flourishing education startup ecosystem makes investing in EdTech products really promising. The global EdTech market is a diverse and rapidly growing industry with a large runway across the business lifecycle, from early-stage startups to middle-market companies to publicly traded companies. EdTech has garnered investments worth $1.1 billion in 2020. This sector has witnessed a massive rise in revenue during the entire Corona lockdown period converting customers at a lightning-fast speed.

 

Develop your EdTech idea with CBNITS

Globally, the interest in EdTech-based education particularly e-learning is on a rise. The upward trend in the EdTech market will continue as users get comfortable with digital learning. If you have any EdTech idea, CBNITS is here to help you out shaping your ideas into reality. We can develop top of the line EdTech-based apps, websites, e-learning portals, and digital products for you.

 

The evolution of the education sector has been remarkable as it has centered on technologies that did not exist 20 years ago. At CBNITS, we help our clients adopting these cutting-edge technologies in a seamless way for building their EdTech empire.  

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