Market research company Technavio has released new reports on the impact of digital technologies on the education industry. The research firm expects the information and communications technology services in the education market to register a CAGR of over 4% by 2023.
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Technavio has announced its latest market research reports published during 2019-2023. (Graphic: Business Wire)
The rising investments in developing ICT infrastructure across schools and colleges, increasing emphasis on cloud computing, and the growing demand for ICT outsourcing services have been identified as critical factors behind the exceptional growth of this market. Pre K-12 and higher education are the two major end-user segments in the market.
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Few other reports from Technavio’s catalog on the role of technologies in the education industry are:
The digital education publishing market is expected to grow by USD 1.28 billion over the forecast period. Several digital education content publishers are focusing on implementing innovative marketing strategies for the promotion of digital textbooks and course materials among faculties and students in the US. In addition, the market is witnessing the development of interactive and customized digital content through incorporation of illustrated examples and multimedia links. This makes the content engaging and descriptive for learners. Thus, the adoption of innovative marketing strategies and the growing shift toward content customization will drive the growth of the market. Get Free Sample Report
With an expected CAGR of more than 15% by 2023, the global online tutoring market is estimated to grow by USD 112.14 billion. The growth of the online tutoring market can be attributed to factors such as the growing importance of STEM education, strong global demand for test preparation, and the increasing focus on language learning. Get Free Sample Report
The market size of the global higher education market is expected to grow by USD 33.74 billion by 2023. The growth of internationalization in the education sector is one of the major factors that will impact the higher education market positively in the forthcoming years. The rising need to attract the best students, improve the quality of education, and generate revenue is prompting various higher education institutes to internationalize education. This emerging concept has resulted in the advent of new higher education partnerships such as teaching partnerships and the provision of degrees off-shore. Furthermore, the emergence of new higher education institutes and the advent of educational content delivery methods are also expected to drive the growth of the higher education market.
Technavio’s Research analysts have published numerous reports focusing on the latest developments. Our continuously growing report library offers the latest insights on several reports in addition to the above-listed reports.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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