The Education Technology market in Southeast Asia
The Education Technology market in Southeast Asia is expected to reach USD 3.13 Billion by 2022 from USD 2.00 Billion in 2016, at a CAGR of 7.0% between 2016 and 2022, the market is estimated to be growing at a steady rate as large government investments in this region and the growing demand for advanced education services will drive market growth.
The Government of Singapore and the government of Malaysia have made large investments in the education sector by expanding the number of private institutions to promote higher education across Asia.
The Asia-Pacific Education Technology market is segmented on the basis of product, end user, and region.
The product segments include software, hardware, services, and content.
The hardware segment is further categorized into computer equipment and devices; tablets; e-books; e-readers; other devices.
The software segments are classified into application software and content management software.
The content management software segments include learning management systems (LMS), course management systems (CMS), digital library systems (DLS), online assessment systems (OAS) and other content management systems (OCS).
The end users are categorized into public sector, private sector, and the educational institutions.
The growth of the Education Technology market in Southeast Asia is driven by the increasing use of mobile devices in the education sector.
The public sector is expected to account for a major share of the market in terms of revenue, due to its extensive focus on technology adoption and digitization.
In addition, the government is focusing on promoting education by not only enhancing school infrastructure but also providing e-learning facilities to students.
The opportunities for Education Technology in Southeast Asia
The government has invested heavily in technology-based solutions to improve the performance of students. The government is also digitizing data for effective management of information. Hence, many organizations have started offering online courses and learning tools to help students gain access to them.
The growth of the Education Technology market in Southeast Asia is expected to be driven by increasing focus on technology adoption and digitization in the public sector, rising demand for online education, and increasing participation in e-learning programs.
In addition, the growth of the market will be supported by a growing number of startups operating in this region focused on developing cost-effective digital learning solutions.
However, lack of awareness about the benefits of using technology-based solutions within schools are expected to restrain the growth of the market in Southeast Asia.
Although implementation of advanced technologies is expensive, it will help reduce operating costs and enhance teaching methods as well as student outcomes. However, these technologies are still not accessible for most schools due to their high costs.
The major opportunities for the growth of the market in Southeast Asia include increasing focus on technology adoption and digitization by the government, rising demand for online education, and growing participation in e-learning programs. In addition, increasing investments in this region by the government will also open up new opportunities for companies operating in this region.
What has been Venture Capital’s interest in Education Technology in Southeast Asia been like?
Venture capitalists have been investing in startups operating in Southeast Asia to encourage them to expand their operations and reach new customers. Organizations such as Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional Berhad are also investing in education startups. Hence, investors are keen to invest in this region due to its promising potential and increasing opportunity for growth.
About the Author
I am an educator have over 3 years of experience in product management, technology leadership, startups, angel investing and Edtech. I an EdTech startup Cudy Technologies (www.cudy.co) to help teachers teach better and students learn better using videos and interactive activities. If you are a teacher or student, signup for free at https://cudy.co/sg/register to start teaching and learning better today.
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