Authored By: Sarah
11 Jul 2024

 Education Technology Market in North America Size to grow by USD 42.98 billion between 2023-2027

According to a research report “ Education Technology Market in North America” by End-user (Business, Consumer) Deployment (On-premises, Cloud) Geography (North America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 42.98 billion, at a CAGR of  13.37% during the forecast period. The education technology market in North America is experiencing significant growth, particularly in the realm of virtual schools. This trend is most pronounced in developed countries like the United States and the United Kingdom. Virtual schools leverage advanced online tools, such as digital content and interactive delivery formats, to engage students. Content is presented in diverse formats, including videos, animations, games, and audio. Moreover, these institutions offer synchronous communication channels, enabling real-time interaction between students and educators. Classrooms are outfitted with state-of-the-art equipment, including projectors, screens, and computers, connected to an interactive cloud module. The ongoing push for digital transformation in education is fueling the popularity of virtual schools among students and educational authorities alike.

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By End-user, the Business segment is projected to dominate the market size in 2024

The on-premises segment dominates the education technology market in North America, accounting for the largest market share in 2022. This segment's growth can be attributed to its scalability, reliability, and security advantages. On-premises deployment refers to the installation of software or services on a company's own systems, which the on-premises division manages through sales, licensing, and software maintenance services. Professional services, including educational services, are primarily provided by this segment. The on-premises platform's security features outshine its competitors, making it a preferred choice for institutions dealing with significant investments in purchasing, maintaining, and managing the entire system.

By Deployment, On-premises  segment is expected to hold the largest market size for the year 2024

The business sector dominated the Education Technology Market in North America in 2022, accounting for a significant market share. This growth can be attributed to the increasing collaborations and strategic partnerships between educational institutions, technology firms, and content developers. These alliances create lucrative opportunities for vendors in the education technology industry in North America. For instance, Greenfield Community College (GCC) recently partnered with Upright Education to provide students with advanced skills in software development, UI, and UX design. Such collaborations are becoming essential components of the evolving education technology ecosystem in North America.

North America is forecasted to hold the largest market size by region in 2024

The education technology market in North America is poised for moderate growth during the forecast period, driven by the increasing adoption of ed-tech solutions and emerging trends such as Education 4.0, digital classrooms, flipped classroom learning, and blended learning. Vendors in this sector are continually introducing innovative offerings to assist educators in adapting to technology. For instance, in February 2021, SMART Technologies launched the SMART Learning Suite software, enabling personalized activities, customizable themes, and enhanced teacher-student connectivity. This solution empowers educators to deliver engaging, immersive learning experiences in hybrid, remote, or traditional classroom settings.

The Education Technology Market in North America growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Blackboard Inc.
  • Chegg Inc.
  • Coursera Inc.
  • 2U Inc.
  • Alphabet Inc.
  • Instructure Holdings Inc.
  • Microsoft Corp.
  • Udacity Inc.
  • ApplyBoard Inc.
  • Think and Learn Pvt. Ltd.
  • International Business Machines Corp.
  • MAXHUB
  • PowerSchool Holdings Inc.
  • Cornerstone OnDemand Inc.
  • Simplilearn
  • Ellucian Co. LP
  • Skillsoft Corp.
  • SkyPrep Inc.
  • Promethean World Ltd.
  • Quizizz
.

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Research Analysis Overview

The Education Technology market in North America is experiencing significant growth with the integration of advanced AI models like Chatsonic AI and Perplexity AI into digital learning tools. ChatGPT, a popular AI model, is revolutionizing personalized learning experiences by providing students with customized instruction and feedback. Administrators are increasingly relying on e-learning platforms and digital tools to enhance educational resources and improve student outcomes. Interpretive reading and vocabulary development are key areas where AI is making a difference. Digital content, including audio versions, is now accessible to students with physical disabilities, ensuring equal opportunities for learning. The user base of these platforms is diverse, with learners from various linguistic backgrounds benefiting from resources in multiple languages. Classroom learning is also evolving with the use of digital copies and AR technology, allowing for more interactive and engaging experiences. Virtual levels and eBooks like OrbitNote provide students with a more accessible and convenient way to learn, both in and out of the classroom. As the market continues to grow, the focus remains on improving educational outcomes and ensuring that all learners, regardless of their abilities or backgrounds, have access to high-quality digital content.

Market Research Overview

The Education Technology (Ed-Tech) market in North America is experiencing significant growth, driven by innovative offerings from companies like Chatsonic AI, Perplexity AI, and ChatGPT. These tech firms are revolutionizing personalized learning experiences by providing digital learning tools and e-learning platforms that cater to the unique needs of students and educators. Administrators are increasingly investing in smart classroom solutions, incorporating gadgets such as tablets, projectors, computers, and touchscreen displays into their infrastructure. The smart classroom industry has become a game changer, with mobile technology and online educational platforms gaining popularity, especially due to the pandemic. Ed-Tech firms are also focusing on AI-powered solutions, such as AI-driven interactive learning, gamification, and multimedia resources, to enhance student engagement and improve educational outcomes. Series B funding, private equity investments, and venture capitalists are pouring into the sector, with Class Technologies Inc leading the way. Content developers are creating e-learning material in various formats, including audio versions and digital copies, to cater to diverse learners, including those with physical disabilities and those who speak different languages. The use of cutting-edge technologies like AR/VR, AI, IoT, and blockchain technology is also transforming education. Business practices in the Ed-Tech sector are evolving, with a focus on software development, hardware, cloud segment, on-premises segment, and lifelong learning in the business segment. Data privacy norms, such as PPRA and FERPA, and copyrights are also crucial considerations. Toondemy and Creative Galileo are examples of firms providing interactive whiteboards and virtual field trips for K-12 teachers, while Upright Education offers lab-based experiments and math learning resources. The future of education is bright, with a growing user base and a focus on innovative offerings that cater to the diverse needs of students and educators.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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