Drivers of historical and projected growth of the EdTech market on a global scale include the mentioned boost by Covid, including the aforementioned by EU, but also by other countries, resulting capital injections for digitisation of education. Further catalysts are mobile and digital devices as well as technological progress and penetration in general.
Mobile, digital devices as well as connectivity speed and penetration are especially relevant for future accelerated growth stemming from developing countries, with India at the forefront.
Furthermore, developing countries exhibit the highest population and education growth, representing a further category driving current and future growth of the Education and Training market and consequently the EdTech market.
For example, the percentage reaching secondary education rate globally, is according to Our World in Data forecasted to expand from 35% in 2010 to 41% in
2030 F11, 12, 14, 15, 16, 17, 18, 19, 20, 21
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11 Markets and Markets: EdTech and Smart Classrooms Market Analysis
12 Grand View Research: Education Technology Market Size & Share Report, 2030
14 dealroom.co, Brighteye Ventures: The evolution of Edtech: Activity in private and public markets
15 HolonIQ: Open Briefing, Global Education Outlook, January 2023
16 Capstone Partners: Education & Training Industry, Middle Market Deal Activity & Outlook, 2023
17 Key Capital: EdTech: A Sector Coming of Age
18 GlobalData: Education Technology (EdTech)
19 Market.us: EdTech Market
20 McKinsey & Company: Five trends to watch in the edtech industry
21 Our World in Data: Global Education