Dublin, December 8, 2023 /PRNewswire/ — The “US Education Technology Market – Focused Insights 2023-2028” report has been added to ResearchAndMarkets.com an offer.
The Edtech market in the US is expected to reach value $73.22 billion By 2028, up from $36.66 billion In 2022, at a CAGR of 12.2%
The Edtech market in the US is witnessing strong growth due to various factors. The increasing adoption of digital technology in education and the spread of internet connectivity and mobile devices have paved the way for innovative educational solutions.
The market has also benefited from the growing acceptance of online education, with the COVID-19 pandemic accelerating the shift towards remote and hybrid learning models. Edtech companies in the US offer various digital learning platforms that meet the needs of learners of all ages and educational levels. One of the major trends in the US education technology market is the focus on personalized learning experiences. Artificial intelligence and data analytics analyze students’ learning patterns, preferences, and performance.
The US education technology sector has seen significant investments from various sources, including venture capital firms, private equity, and traditional educational institutions. Investors have recognized the transformative potential of innovative educational technologies. This increase in funding has enabled edtech startups to develop and scale their platforms, create engaging educational content, and expand their user bases.
EdTech platforms in the US are increasingly prioritizing personalized and adaptable learning experiences. These platforms use data analytics and artificial intelligence to evaluate individual students’ performance, preferences, and learning styles. This data-driven approach enables personalized content recommendations, adaptable assessments, and real-time progress tracking, ultimately enhancing the effectiveness of the learning process.
Many US governments have recognized the importance of digital education and initiated policies to integrate technology into classrooms. These initiatives include investments in basic infrastructure, teacher training programs, and the development of digital learning resources. Government support is pivotal in driving widespread adoption of edtech solutions within educational institutions. Collaboration between education technology providers and government agencies fosters innovation and accessibility.
Despite its growth, accessibility remains a challenge in the US educational technology market. Disparities in internet access can hinder widespread adoption, but the sector has proactively addressed this issue. Nonprofit organizations and developers work hard to ensure equitable access through easy-to-use interfaces and low-bandwidth solutions. The commitment to inclusivity is evident in the education technology sector collaborating with communities, providing devices, and improving Internet access to ensure that learning opportunities reach all segments of society.
in March 2023, one of the major suppliers, Duolingo, has launched a new subscription tier with access to its GPT-4-powered AI Tutor, unlocking two new AI-powered features called “Roleplay” and “Explain My Answer.” The role-playing feature allowed users to practice conversation skills in the real world through responsive and interactive AI-powered chatbots. The Explain my answer feature allowed users to learn more about their answers in lessons, whether their answers were correct or incorrect. This introduction set a precedent for incorporating advanced AI into language learning, which may motivate other players in the educational technology space to adopt similar AI-based improvements.
Vendor list
Main sellers
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McGraw Hill
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Pearson
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Cheg
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Bright prospects
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Skillsoft
Other notable sellers
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Coursera
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Duolingo
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Box Light
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2U
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Udemy
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Kahoot!
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black board
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application
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VIP
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mentally
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Prebly
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Labster
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Great minds
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Union education
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Perpetual spring
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Dream box
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Newcella
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The multiverse
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to lift
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Course champion
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GoGuardian
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Quizlet
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Out of school
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Daring
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GoStudent
Segmentation and prediction
Business Models (Revenue)
Type (Revenue)
Sector (Revenue)
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K-12
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high education
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Competitive exams
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Certificates
End Users (Revenue)
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Individual learners
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Institutes
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Companies
Market structure, market composition
excess
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Research Methodology
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Abbreviations
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About the analyst
For more information about this report visit https://www.researchandmarkets.com/r/sc1p7h
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