The remote learning technology spending market size is projected to be valued at US$ 77,734.4 million in 2023 and is expected to rise to US$ 298,446.04 million by 2033. The sales of remote learning technology spending are anticipated to expand at a significant CAGR of 14.7% during the forecast period. Remote learning technology refers to hardware and software used to educate students on a virtual level in order to improve classroom learning and improve students’ educational outcomes.
By utilizing technology for learning and teaching, this platform helps students overcome barriers to receive comprehensive education. Learners are increasingly turning to eBooks, which can be accessed online from anywhere in the world.
Digital content is less expensive to produce than printed content, which costs high. Digital books are available in a variety of languages and can be easily translated and accessed by a massive user base. Furthermore, learners, particularly those with physical disabilities, can listen to audio educational content to improve their vocabulary and encourage better interpretive reading.
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Remote learning solutions are expected to evolve in tandem with advances in cutting-edge technologies such as IoT, AI, and AR/VR, and to significantly contribute to market growth.
The incorporation of AR and VR in EdTech solutions aids in providing learners with an interactive experience. It also enables students to explore and seamlessly connect with abstract concepts, which increases student engagement.
Key Takeaways from the Remote Learning Technology Spending market
- In 2022, the K-12 segment led the market, accounting for more than 40% of global revenue. The high proportion is due to the growing trend of game-based learning in the K-12 sector. Numerous K-12 teachers support gamification initiatives in schools to improve students’ math learning skills through the integration of practical, project-based work.
- In 2022, the on-premises segment led the market, accounting for more than 70% of global revenue. The high share can be attributed to the EdTech market’s dependability and scalability. Installing software or services on a company’s premises or systems is referred to as on-premises deployment. The on-premises division is in charge of supporting, licensing, and selling on-premises and mobile software products, as well as providing software maintenance services.
- North America obtained a revenue share of more than 27.8% in 2022. This high share can be attributed to a significant amount of venture capitalists and private equity investors investing in the EdTech sector in the United States.
- Asia Pacific to acquire a commanding share of 19.9% during the forecast period, owing to the increasing popularity of computing and smart devices among the general public. In recent years, developing countries such as India have seen a surge in affordable broadband connectivity, resulting in a slew of businesses reaching out to the populace.
- Germany is expected to capture a significant share of the global market and expand at a strong rate of 9.7%, owing to a subsequent increase in institutions in the country. In response to changing demand and societal and technological developments, institutions in Europe have adapted their teaching and learning approaches.
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Competitive Landscape:
Market participants are working hard to expand their customer base and gain a competitive advantage over their competitors. As a result, they pursue a variety of strategic initiatives, such as partnerships, mergers and acquisitions, collaborations, and the development of new products and technologies.
For instance, Teachmint Technologies Pvt. Ltd, an online app for students and teachers, acquired MyClassCampus (Teachmint Technologies Pvt. Ltd), an ERP platform for educational organizations, in January 2022.
By combining its learning management system (LMS) with the ERP software, Teachmint might be able to expand its offerings in schools and other educational institutions.
Furthermore, in June 2021, BYJU’s, an EdTech company that provides online tuition, collaborated with Google LLC to improve the consistency of online learning for both professors and students. This collaboration is likely to enable educational institutions to provide a personalized digital platform for classroom management.
Remote Learning Technology Spending Market by Solution
Remote Learning Technology Software:
- Learning Management System (LMS) Platforms
- Web-based LMS
- Mobile-based LMS
- Virtual Classroom Software
- Others
Remote Learning Technology Services:
- Professional Services
- Learning & Content Management
- Consulting Services
- Integration & Implementation
- Support & Maintenance
- Outsourced eLearning Services
Remote Learning Technology Spending Market by Learning Mode:
- Instructor-led Training & Learning
- Self-paced eLearning
- Blended/Hybrid Learning
- Social Learning
- Collaborative Learning
- Simulation Learning
Remote Learning Technology Spending Market by End User:
- Individuals
- Government Organizations
- Academic Institutions
- K-12
- Colleges/Universities
- Corporates/Enterprises
- SMEs
- Large Enterprises
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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