The EdTech Market is Expected to Accumulate a Value of US$ 421 Billion by 2032 from US$ 129 Billion in 2022; Registering a CAGR of 12.9% in the Forecast Period 2023 to 2032.

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EdTech is a general term that comes from the combination of two words education and technology. It refers to the adoption of software and hardware solutions that aim to improve student learning and teacher pedagogy. The meaning and interpretations of terms will differ depending on who uses them. An example: A teacher may focus on solutions and methods that can be used in class, while an investor would focus on market conditions and start-ups. This will explain the different meanings of the term. The second section will cover the variety of EdTech products, while the last section will identify future trends. EdTech covers not only hardware and software but also theories and research to determine the best ways to teach people new skills and knowledge.

The market is segmented per applications such as Preschool, K-12, Higher Education, and other sectors. The K12 segment is expected to hold the largest market share of the global EdTech market by 2022 and is projected to maintain this position during the forecast period (2023-2032). This high percentage can be attributed to the increasing popularity of game-based learning within the K-12 sector.

Most teachers in the K-12 sector support gamification to improve students’ math skills through integrating project-based, practical work in schools. Incorporating technologies into this sector allows immersive content and offers experiences such as complex lab-based experiments and virtual field trips. This creates an engaging learning experience.