EdTechX is a global platform connecting the community of learning and work through events, insights and investments. In 2020, we estimate that the global education and training market is growing by 8.5% per year and will be worth $10 trillion in 2030. Within this, the EdTech market will grow even faster, currently growing at 14% a year, reaching $1.1 trillion in the next 10 years.
The five main drivers for this transformation are digitalisation of content; personalisation through increasing use of AI and data; the growing privatisation echoing the growing number of new students; automation to enhance education and solve the rising challenge of teacher shortages worldwide and globalisation with the adoption of international education standards, curricula and certifications.
In addition, emerging markets are now becoming one of the key adopters of EdTech and are not only more open to using it, but also paying for it. One reason for this is digital supremacy – with more people in emerging markets connected to the internet and the tipping point being reached in 2018 – these markets now represent 90% of the world population under 30 years old. This is creating a generational impact, with less government inertia to stall the development of EdTech and finally the growing appetite for education, there is the understanding that better education brings better life outcomes.
To celebrate the sixth year of our dynamic event partnership with SXSW EDU, EdTechX has curated a panel with key education thought leaders from the Chan Zuckerberg Initiative, New School, BanK12, Fountech AI and Cohen Strategy Group to discuss AI, Learning Science, and innovation in K-12 education. Join our panel on Wednesday, March 11, at 5 p.m. to hear from these global experts and learn about how we envisage the future of EdTech in education and work.
Sponsored content and photo provided by EdTechX.