The market for education technology is projected to grow 11 per cent annually by 2025, according to global education market intelligence platform HolonIQ.
The US$6 trillion global education market is full of investment opportunities because the industry’s low rate of digitalisation makes it ripe for disruption, while a shortage of academic resources create potential for growth, said Credit Suisse.
The opportunity for growth exists, especially where technology could be used to address some of the shortages and deficiencies in traditional education, Pyshkin said in an interview with South China Morning Post. Common problems in the industry include the remoteness of many communities from education infrastructure, and the overcrowding in many schools.
China attracted more than half of the world’s venture capital investments in education last year, and has been the biggest destination of such funds in the last five years, according to HolonIQ’s data.
The growth in education technology is also being driven by changing job profiles and the emergence of new jobs. According to the Future of Jobs Report 2018 by the World Economic Forum, 65 per cent of children entering primary school today will ultimately end up working in completely new job types that do not exist yet.
How is education technology changing your child’s education?
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