U.S. Ed Tech Spending to Reach $27.6 Billion in 2021
This year, spending on education technology in the United States will amount to $27.6 billion, according to a new report.
That figure is lower than some other forecasts for 2021, such as
the $38.2
billion forecast by the Learning Counsel. The exact figure for ed
tech spending in the United States has been elusive, and different
market research organizations calculate their figures based on
different definitions of what constitutes ed tech.
The report, Education
Technology and Smart Classrooms: Global Market Trajectory &
Analytics, from market research firm Global Industry Analysts,
estimated the total global ed tech spend at $78.6 billion in 2020,
which is in line with other global trends reports. The report's
authors are predicting global compound annual growth of 16.3 percent through
2026, when the total global spend is forecast to reach $195.7
billion.
The report forecast China's growth in ed tech spending to be 15.6 percent over the same period, reaching $34.2 billion by 2026. Japan, Canada
and Germany are all expected to see double-digit growht in ed tech
spending over the report period as well: Japan at 14.5 percent, Canada at
14 percent and Germany at 11.9 percent CAGR.
The information released to the public from the report did not
spell out the growth in ed tech spending for the United States during
the analysis period.
The complete
report is available at strategyr.com.