Education Technology (EdTech), a subsector of the technology development sector, encompasses technology used in early childhood education, K-12, higher education, and workforce development. It consists of three major product categories:
- Hardware: interactive white boards, displays and tablets, student response systems, laptops, desktops, stylus pens, wireless slates, classroom wearables, wrist-worn equipment, head gear, projectors, and sound systems.
- Software: Learning Management Systems (LMS), Learning Content Management Systems (LCMS), adaptive learning platforms, and assessment systems.
- Content: audio-based content, video-based content, text content, and multimedia content.
The Global EdTech Market
The EdTech market is highly attractive in terms of its size and growth rate. According to BBC Research, the global market in 2017 was estimated to be about $57.7 billion, comprising of $23.7 billion in hardware, $16.5 billion in software, and $17.5 billion in content development. Overall, between 2017 and 2022, the EdTech market is projected to grow at a five-year compound annual growth rate (CAGR) of 14 percent. This would increase the projected size of the global EdTech market to $110.9 billion by 2022.
Given the size of the U.S. education sector, North America is the largest market for EdTech, comprising almost 41 percent of the global market.
The U.S. EdTech Market
The U.S. EdTech market was worth $39.33 billion in 2018 and is expected to grow to $43 billion by the end of 2019. EdTech service firms in the United States generated $18.1 billion of revenue in the fourth quarter of 2018.
- Increased competition in higher education
- Classes being taken from massive open online courses (MOOCs)
- Adoption of mobile devices (i.e. tablets are used in 85 percent of U.S. K-12 school districts)
- Learning models that incorporate personalized and blended learning techniques
- Data privacy
- Professional development and training courses
- Student assessments
- Computer science
How Industry & Analysis Can Help
Industry & Analysis (I&A) is an advocate for the development of U.S. service industries in international trade. Within ITA, the Office of Supply Chain and Professional and Business Services (OSCPBS) promotes and supports the U.S. EdTech sector and represents the interests of the EdTech sector through the following activities:
- Identifying opportunities in overseas markets.
- Industry sector reports.
- Identifying and resolving market barriers.
- Export development assistance.
Federal and State Government Resources for EdTech Companies
- The U.S. Department of Education’s Office of Educational Technology: “EdTech Developer’s Guide”: https://tech.ed.gov/files/2015/04/Developer-Toolkit.pdf
- The U.S. Department of Education’s Office of Educational Technology: “Reimagining the Role of Technology in Education:” https://tech.ed.gov/files/2017/01/NETP17.pdf (2020 will be released soon)
- Iowa economic Development Authority: “The EdTech Opportunity: Educational Technology as a Dynamic Growth Sector for Iowa” https://www.iowaeconomicdevelopment.com/UserDocs/news/Iowa_EdTech_Report-final2.pdf
Other EdTech Publications
- EdTech Handbook: An on-line depository of articles: https://edtechhandbook.com/
- EdSurge: On-line News: https://www.edsurge.com/news
- Education Gadfly: a publication of the Thomas Fordham Institute: https://fordhaminstitute.org/national/commentary/education-gadfly-weekly
- EdWeek Digital: EdTech news and trends: https://www.edweek.org/ew/index.html
- eSchool News: EdTech News for K-12 and Higher Education: https://www.eschoolnews.com/
- New Learning Times: produced at the EdLab at Colombia University and provides daily coverage of learning opportunities to transform education: https://edlab.tc.columbia.edu/blog/c/New%20Learning%20Times/
- KQED Mindshift: Mindshift explores the future of learning: https://ww2.kqed.org/education/
- Getting Smart: covers an array of education topics: https://www.gettingsmart.com/
South by Southwest Education (SXSW EDU) Conference
March 9-12, 2020
International Society for Technology in Education (ISTE) 2020
June 28-July 1, 2020
ASU GSV Summit
March 30-April 1, 2020
San Diego, CA
August 2-4, 2020
San Diego, CA
International Trade Specialist for Education Services
Global Sub-Team Leader for Education Technology