Over the past few years, everyone is witnessing an EdTech movement in countries. But which nation is leading it?
Half a decade ago, education used to be simple. One blackboard, an educator, students, and different lectures. But now, a student can practice mathematics online, email homework or assignments, and learn science through 3D immersion — all thanks to the EdTech movement in countries. Everywhere in the world, education technologies are changing teaching and learning standards. EdTech has the potential to boost global education, but which nation is on top of this epic revolution?
The United States
Right now, many would say that the United States is leading in the race of EdTech in countries. As indicated by the Software and Information Industry Association (SIIA), the U.S. EdTech market is valued at more than $8.38 billion dollars. Furthermore, in 2015, 60% EdTech investment was made by the United States.
The country’s populace size, enormous economy, and tech and development centers, for example, Silicon Valley add to EdTech’s accomplishment in the United States. The U.S. has spearheaded propels in education technologies and their execution, leading dynamic utilization of innovation in the classrooms.
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The United Kingdom
After the United States, it’s the United Kingdom where education technologies have huge development potential.
A report by EdTech UK proposes that there are currently more than 1000 EdTech companies in the United Kingdom, with something like 200 situated in London. The United Kingdom is likewise home to the solid education sector and Europe’s biggest tech hub, showing that there’s still a lot of space for development in the EdTech business.
Even though the United States is the leading nation in terms of EdTech development right now, Asia has become the fastest developing e-learning market on the planet. In 2016, as indicated by Goldman Sachs, worldwide interests in Chinese EdTech companies expanded to $1.2 billion. And it is expected that China’s EdTech industry will grow 20% every year.
On the other, in India, the online education market is set to fourfold over the course of the following four years, eventually increasing to more than $1.96 billion. According to reports, the EdTech and smart classroom market in APAC is expected to grow from US$ 17,692.4 million in 2019 to US$ 64,353.4 million by 2027; it is estimated to grow at a CAGR of 17.5% from 2020 to 2027.
How in the future, Asia will lead the EdTech movement in countries?
Asia has more youngsters than elsewhere in the whole world and more than 600 million undergrads are taken on K-12 schools in Asia.
Asia’s populace is schooling-focused, and families will put generous amounts of money into their kids’ schooling. Tuitions in China are ready to develop to a $90 billion industry, and guardians in Singapore spend around $70,939 yearly on their kids’ schooling.
Furthermore, in spite of the fact that Internet access has been a hindrance, about 53.1 percent of China’s populace is currently on the web, and this number will keep on filling in coming years. South-Asian countries like India will also make a big name in the list of EdTech movements in countries.
In Latin America, the e-learning market has developed by more than 14% yearly since 2013, and this improvement is probably going to proceed for a long. As in Asia, financial backers are paying heed and spending money to help EdTech Industry to grow. The area has likewise embraced various instructive approaches that empower digitalization. In terms of money, Latin America is presently the fourth biggest EdTech market on the planet, after North America, Western Europe, and Asia.
Last but not the least, with regards to the EdTech industry, Israel deserves noteworthy recognition too. Despite the fact that it’s a modest country, it flaunts an extremely impressive tech area. Israel also has the “EdTech Israel Summit,” and the nation can possibly be a trend-setter in the inexorably worldwide EdTech market.
In conclusion, while the EdTech movement in countries is at its peak, many under developing countries are falling behind. For instance, in Africa, many children can’t even receive a basic education because of child labor and poor management policies. But in the future, it is inevitable that the global EdTech market will grow, ideally benefiting schools and students across the globe.