The K–12 education technology market is expected to grow from US$105 billion in 2022 to US$ 350 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 19.8 %, according to a report by Adroit Market Research.
The K-12 Education Technology Market Research Report found the K-12 education sector is experiencing an increasing emphasis on personalised learning, data analytics, and AI-driven adaptive learning platforms.
The hardware segment is expected to dominate the market, accounting for more than 42% of worldwide sales – growth the report attributes to the rising prominence of ‘digital classrooms’ in the education sector.
Technology such as gamification, augmented reality, and virtual reality is also garnering interest due to their potential to enhance engagement and immersion in learning situations.
The growing trend towards personalised learning opens up opportunities for the creation of unique, adaptive learning solutions, which can provide considerable commercial advantages to edtech businesses.
Meanwhile, the widespread use of smartphones and tablets presents a significant opportunity for the creation of mobile learning apps tailored for K–12 students, catering to the rising demand for ‘learning on the go’.
The research noted that data collection and analysis in education are continuing to offer key insights into student performance, learning trends, and instructional efficacy, driving the creation of powerful learning management systems (LMS) and data analytics tools.
Perhaps unsurprisingly, the COVID-19 pandemic has accelerated the demand for digital learning solutions, including online learning platforms and digital materials. This has motivated government initiatives and funding programs worldwide to support the use of technology in K–12 education, driving further market expansion.
The report found that the North American region continues to hold the highest revenue share in the K–12 edtech market, with the US and Canada playing a vital role due to substantial investments in educational technology, government initiatives, and the presence of renowned edtech businesses.