What's going on the EdTech market?
We have already reviewed the recruiting market and discussed why graduates face problems while looking from the job; let’s move on and discuss the state of the education market and trends of the last couple of years. Let's consider the last two years because of the pandemic, which largely determined the market development directions.
The EdTech market is increasing amid quarantine restrictions. In 2019, the international market was estimated at $187 billion and was supposed to grow to $319 billion by 2025. In August 2020, the market growth already reached $404 billion!
Lockdown stimulated new investments in well-established projects: Coursera received $130 million, Masterclass - $100 million, Yuanfudao - $1 billion, Zuoebang - $750 million.
The fastest growth of the EdTech market is noticed in Asia and Russia; 20-25% increase yearly. Additional vocational education for adults occupies 50% of the EdTech market in Russia. The pandemic and lockdown had the most positive impact on this segment because it was ready for a switch to online models, unlike other schools and universities.
As we can see, the world needs tools for optimization of remote education for all groups of students. One of such tools is DISCIPLINA that makes an education and hiring more affordable and efficitent.