Today, education is one of the most important means to be intellectually savvy. That’s why humanity puts all the forces into traditional education and technology-driven education. In 2021, the forecasts predict the education market to receive revenue of $10.85 billion. And, this trend is strong. If it remains the same, by 2025 the education market will reach $11.6 of revenue. The numbers are amazing!
Among the growth of the already existing businesses, everyone can spot the rise of education startups. In 2020, about 14 edtech startups received profits of over $1 billion each. Indian Byju became the best startup with $5.8 billion in revenue. The rest of the eLearning startups were from China and the USA.
But what about 2022? What are the top edtech companies in 2022? Let’s explore the best edtech startups, their current market changes, and a few tips on how to choose the right technologies for your tech education startups.
Education technology startups market
According to Yahoo! Finance, the edtech market value was about $254. 80 billion in 2021.
The ongoing trend expects $40 billion by 2027 if the CAGR of 15.52% stays the same. Industry breakthroughs appear one after the other making the market loaded with great solutions and offers.
If you’d like to launch a startup, gain your insights from the following 6 factors:
- Gamification and its growth
- Hybrid model adoption
- Connectivity infrastructure enhancement
- Smartphone penetration advancement
- 5G technology introduction globally
- Private Equity and Venture Capital investments
To read more visit Inoxoft, where the article has been published originally.
Technology has changed education and continues to change it as more and more EdTech companies try to facilitate the educational process. Let's review the reasons to invest in education technology startups and related challenges.
Education development is traditionally considered the responsibility of government and when we hear the phrase "educational startups" Coursera and Udemy come to mind...
Technology in education has changed over the years. Classroom learning ways have made learning simple. According to a recent stat report, funds are being invested in Edtech sectors of Africa to bring a change in the educational ecosystem. Cape innovation technology initiative has launched an open Edtech innovation cluster in Africa.
Its main aim is to collect the best Edtech startups and companies that’ll help to work on educational problems in Africa. Sparkschools and UNICEF are also doing their bit to change the concepts of learning in Africa. Sparkschools has raised an amount of USD 9, 000,000 for high-quality education in Africa.
It is no longer a secret, that the EdTech industry is gaining popularity.
Education was always considered as one of the most traditional and conservative industries, but the 21st century made us the witnesses of technological revolution, which increased the interest in the digitalization of many processes – education is no exception for it.
The world pandemic and its consequences triggered many people to start exploring new ways of learning, and businesses in turn – opportunities to cover education needs.
As a result, the EdTech sector is becoming a global phenomenon, which shows significant growth and interest from both learners and investors.
If you are about to invest in educational technology, it’s high time to do it.
But before building the business around your product, let’s have a look at the global EdTech landscape.Read here
