EdTech startups are a new and growing market. The last few years have seen an explosion in the number of startups working in this area, with many more expected to come. In this article, I’ll look at what has driven this growth, some examples of EdTech startups, and the challenges they face.
EdTech as a new industry.
EdTech is the use of technology in education. EdTech startups are growing in popularity, and there’s good reason for that: investors see potential for these companies to make money.
If you’re looking for a career path that will allow you to make money while doing something meaningful and rewarding, then EdTech is the place to be!
A change in the educational landscape.
As the world becomes increasingly connected, we are witnessing a shift from traditional education to online learning. The need for new technologies in education is greater than ever before. In fact, according to a report by ResearchandMarkets.com titled “Global EdTech Market 2022”, the global edtech market was valued at USD 869 million in 2018 and is expected to reach USD 2104 million by 2022 with a CAGR of 11%.
The rise of startups.
It’s no secret that we’re in the midst of a tech startup boom. The number of new businesses launched annually has more than doubled since 2010, and there are now more than 1 million active startups in the US alone. But what about EdTech?
While it may seem like an industry that’s been around forever (after all, who hasn’t seen those ubiquitous yellow school buses?), there are actually plenty of opportunities for entrepreneurs looking to capitalize on the rise of EdTech startups. For example:
- The market is growing rapidly–and it’s only getting bigger! According to research conducted by Deloitte Consulting LLP (2017), worldwide spending on educational technology will reach $600 billion by 2022–up from $500 billion last year alone.* Why? Because digital learning tools help educators meet today’s demands while preparing students for tomorrow.*
- Additionally, because these tools can be used virtually anywhere at any time–from home computers or phones to tablets or even virtual reality headsets–they give everyone access regardless whether they live near brick-and-mortar campuses or not.* This also means greater flexibility when it comes time for parents/guardians who work full time jobs outside their homes; many have told us how much easier our platform makes staying connected with teachers/coaches via text message throughout each day without needing extra childcare services
Demands of EdTech startups.
In order to be successful, EdTech startups need to focus on two things: the product and the customer. The product needs to be useful and easy-to-use; if it isn’t, then no one will use it. The customer should also be engaged in your product – if they aren’t interested in what you have created, why would they buy?
Finally, an EdTech startup must be scalable; otherwise its growth will be limited by its own success (or lack thereof).
There is a huge opportunity in the market for startups in this area.
There is a huge opportunity in the market for startups in this area. There are many people who have access to smartphones, and this means there are many potential customers for EdTech startups. With so many people having access to smartphones, there is a lot of potential for EdTech startups. With so much money being made in the EdTech industry, it’s no wonder why so many startups are popping up!
The market for educational technology is booming, and there are a lot of opportunities for startups in this area. There are also some challenges that need to be overcome before we can see widespread adoption of these products by schools and teachers. However, if you have an idea for an EdTech product then now is the time to get started!