Global e-learning market to hit $185B between 2021 and 2025

The global pandemic accelerated growth in the academic e-learning and education technology (EdTech) market. Analysts say that the Covid-19 crisis was only part of the driving force. As such, the uptrend has every reason to continue post-pandemic.

According to the research data analyzed and published by Definanzas.com, the worldwide e-learning market will grow at a CAGR of nearly 18% between 2021 and 2025. The sector’s incremental growth during the period will be an impressive $184.52 billion.

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Investors and equipment makers are taking note of the massive potential in the EdTech and e-learning markets. Based on a study by HolonIQ, VCs around the globe poured in $16.1 billion into EdTech in 2020. And thanks to the demand from the education sector, Chromebook shipments hit 12.0 million in Q1 201, marking a stunning 274.6% uptick.

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North America is the dominant player in the worldwide e-learning market. In 2020, it accounted for a 37% share of the global market. Technavio estimates that the US market will grow at 15.95% in 2021. Between 2021 and 2025, it will grow at a CAGR of 17%, equivalent to $36.54 billion.

Additionally, the global EdTech market is projected to grow at a CAGR of 19.9% in the period between 2021 and 2028. According to Grand View Research, the sector was worth $89.49 billion in 2020 and by 2028, it is projected to reach $285.2 billion.

Asia Pacific will be the fastest growing region, registering a 22.6% CAGR up to 2028. North America, which dominated with a 37% share in 2020, will still retain dominance up to 2028.

Global EdTech venture capital hit nearly $4 billion in Q1 2021 alone, averaging over $300 million every week. According to HolonIQ, education technology unicorns will grow to more than 100 by 2025.