They also have developed Daydream Labs where employees can be trained visually and interactively, resulting in a faster learning process[9]. https://www.austrade.gov.au/ArticleDocuments/5085/Edtech-US-market-snapshot.pdf.aspx/ [12] https://www.census.gov/services/qss/qss-current.pdf [13] https://www.prnewswire.com/news-releases/global-report-predicts-edtech-spend-to-reach-252bn-by-2020-580765301.html [14] https://edtechhandbook.com/business-models/overview-of-edtech-business-models/ [15] https://www.academia.edu/37460238/Defining_Optimized_Business_Models_of_Online_Education_Platforms_in_the_EdTech_Market_Eng_ [16] https://www.researchgate.net/publication/322291404_Business_Model_Innovation_in_Edtech_-_An_exploratory_study_of_business_model_innovation_in_a_complex_market_environment [17] http://www.blended.blog/eight-buckets-of-edtech/ [18] https://globallearninglandscape.org/, The funding trends have turned in an unexpected way in 2018 within the U.S. market. High-enrollment in higher education can translate into more skilled labor, which can provide a positive impact on a country’s GDP. Guild Education supports the business with affordable employee development and educational programs by offering connections with universities. The Higher Education Quality Improvement Project in Peru supported the government’s National Education Project 2021, which adopted a strategy to increase the quality and relevance of tertiary education by creating a higher education quality assurance system (HEQAS) providing an assurance framework across basic and higher education levels. In 2018, education remained the second largest category in the UK’s public spending, accounting for 4% of national income. Universities are also offering online courses that are delivered and completed over the internet. VR breaks through the traditional physical constraints, accessing information through visual representations, audio, and virtual interactions. Stakeholders have started to realize that the ‘one size fits all’ approach is no longer feasible; that students excel at different things and can be grouped by intelligence and potential rather than age. ABCya! The education industry is undergoing more changes with time. The Competitive Advantages in the Education industry include Information technology, Location, Governmental and non-governmental funding. Udacity provides self-study learning materials and has raised over $160 million. B2C, however, includes some variability, such as “freemium” models for teachers, direct services to students, or even offering the product directly to parents. With the school system being an integral part of the public sector, information and analysis on the education market plays an important role for both government and commercial organizations. https://www.austrade.gov.au/ArticleDocuments/5085/Edtech-US-market-snapshot.pdf.aspx/ [9] https://www.opencolleges.edu.au/informed/edtech-integration/10-ways-virtual-reality-already-used-education/ [10] https://theblog.adobe.com/virtual-reality-will-change-learn-teach/ [11] EdTech US Market Snapshot, Australia Unlimited. School reengineering and SAT-I performance: A case study. 1040587, Public Administration Defence and Social Security, Trade Unions Professional Political Organisations, Current Trends in the Global Education Sector, Manufacturing Industries Most Ready to Expand B2B E-Commerce. For instance, there was an increase in the teaching of online courses from 30% in 2016 to 42% in 2017. There are a few major players in each market category highlighted in the following table. The industry recorded only moderate growth in 2019, as a result of low public funding for education. Regardless of the overall increase in funding of 27.4% to $99.5 billion between 2013 and 2015, there had been decreases in round closings, from 6,098 to 5,536 in 2018. Google has developed an app, Google Expeditions, where participants are able to explore many parts of our Earth, making geological field studies more cost-efficient and flexible. Not to mention the famous Age of Learning, General Assembly and Duolingo, that present textbook examples of success in the EdTech space. In 2019, the US education industry witnessed a faster rate of expansion in comparison with the previous year, due to higher state and local government spending. EdTech has enriched education, reaching various industrial categories such as coding, language, Science, Technology, Engineering, Math (STEM), social-emotional learning, early childhood education and learning management tools. P47 [2] Koedinger, K., Anderson, J., Hadley, W., & Mark, M. (1999). http://educ116eff11.pbworks.com/w/file/fetch/44935610/Article.StudentLearning.pdf. This does not constitute an offer to sell or a solicitation of an offer to buy any securities and may not be used or relied upon in connection with any offer or sale of securities. These establishments can be public, non-profit, or for-profit institutions. A sustainable business model and profit results are major factors in investment decisions. Education sector in India remains to be a strategic priority for the Government. Companies like Handshake that raised $40 million provides an online platform that connects students with employers. The future of EdTech is promising within the U.S. For instance, HotChalk, a company that supports universities in consulting work and promotes degrees online, has raised $235 million. International Journal of Education Reform, 9(2), 148–153. [1], To take a deeper look at the funding landscape in 2018, Series C and lower grades had occupied more than 39% of the funding market at $537.2M while Angel & Seed occupied more than 40% of the funding deals at 45 rounds.[2]. Other constituents of a modern education system include charter schools, online academies, vocational centers, and corporate educational support services. Saudi Arabia has been the largest market for education services in the Gulf Cooperation Council (GCC) region and accounted for growing number of … Thank you ! The reason for such surprising growth is the need to close the gap between college and employment. Clever and LearnSprout are also good examples of being the middlemen between schools and start-up EdTech companies, offering development easement while collecting valuable data from educational institutions. Also, surprisingly, the mega U.S. funding rounds (over $1B) had surpassed the Asian market by 13 rounds. Among the many resources that play a part in the growth of a country's economy, human capital is perhaps the most important. Privacy Policy | Terms of Service | Listing Agreement. Furthermore, funding seems promising on a global scale. For instance, the revenue generated from higher education alone in the US is over $400 billion. With the recent high pace of advancement in technology EdTech it starting to discover its potential and will continue to rapidly develop in the near future. Other competitive advantages include the reputation of an institution, Curriculum and educational standards, Cost of education and the opportunity cost of education, etc. What are the Key Trends in Education Industry? http://educ116eff11.pbworks.com/w/file/fetch/44935610/Article.StudentLearning.pdf. For further information, please contact our licensed bankers. EdTech not only allows educational institutions to serve a larger and more diverse audience, but also enables educational participants, both teachers and students, to foster relationships in an interactive fashion. B2B includes the most diverse business models in the EdTech realm. The Key Segments in Education Industry include The consumers, The institutions and The workers. In 2018, the industry witnessed sluggish growth, as public spending on education remained subdued due to high public debt. There was $18.1 billion of revenue in the fourth quarter of 2018 in the educational support segment, indicating a 0.9% increase from the last quarter and more than 7% increase compared to the same period last year[12].