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EdTech Market to Reach $518.9 Billion, Globally, by 2034 at 12.9% CAGR: Allied Market Research

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The global edtech market is experiencing growth due to several factors such as virtual labs teaching experiments and AI-based tailor-made courses.

NEW CASTLE, Del., Aug. 6, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “EdTech Market by Type (Hardware and Software), Deployment Mode (On-premise and Cloud), Sector (Preschool, K-12, Higher Education, and Others), and End User (Business and Consumer): Global Opportunity Analysis and Industry Forecast, 2024-2034″. According to the report, the edtech market was valued at $139.5 billion in 2023, and is estimated to reach $518.9 billion by 2034, growing at a CAGR of 12.9% from 2024 to 2034.

Prime determinants of growth 

The global edtech market is experiencing growth due to several factors such as an AI-based tailor-made courses, improved engagement with virtual reality, and big data automating educational aspects. However, the growing cost of education and operational concerns related to funding in the medium-term hinder market growth to some extent. Moreover, growing investments from governments and local bodies on improving educational quality at public schools offers remunerative opportunities for the expansion of the global edtech market. 

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Report coverage & details: 

Report Coverage 

Details 

Forecast Period 

2024–2034 

Base Year 

2023

Market Size in 2023 

$139.5 Billion 

Market Size in 2034 

$518.9 Billion 

CAGR 

12.9 %

No. of Pages in Report 

189

Segments Covered 

Type, Deployment Mode, Sector, End User, and Region. 

Drivers 

AI-based tailor-made courses Improved engagement with virtual reality 

•  Big data automating educational aspects 

Opportunities 

•  Growing investments from governments and local bodies on improving

Restraint 

•  Growing cost of education and operational concerns related to funding in the medium-term

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The software segment is expected to grow faster throughout the forecast period. 

Based on the type, the hardware segment held the highest market share in 2022, accounting for more than half of the global edtech market revenue and is likely to retain its dominance throughout the forecast period, owing to the widespread adoption of mobile devices such as smartphones and tablets, which offer unparalleled accessibility to educational resources and facilitate personalized learning experiences. 

However, the software segment is projected to manifest the highest CAGR of 15.4% from 2024 to 2032, owing to the adaptive learning platforms, leveraging algorithms to personalize instruction based on individual student needs, preferences, and learning styles. Similarly, learning management systems (LMS) continue to evolve, offering educators comprehensive tools for course administration, content delivery, and assessment.

The cloud segment is expected to grow faster throughout the forecast period. 

Based on the deployment mode, the on-premise segment held the highest market share in 2022, accounting for nearly one-third of the global edtech market revenue and is likely to retain its dominance throughout the forecast period, owing to the customization and integration of software and hardware to meet the unique needs of individual schools or districts. This approach allows educational institutions to maintain full control over their infrastructure and data, ensuring compliance with local regulations and safeguarding sensitive information. 

However, the cloud segment is projected to manifest the highest CAGR of 15.1% from 2024 to 2032, owing to the widespread adoption of cloud-based learning management systems (LMS), which provide educators with a centralized platform for course management, content delivery, and student engagement. 

The preschool segment is expected to lead throughout the forecast period. 

Based on the sector, the K-12 segment held the highest market share in 2022, accounting for nearly two-fifths of the global edtech market revenue, and is likely to retain its dominance throughout the forecast period, owing to majority of the teachers in the K-12 sector support gamification initiatives to develop the students’ math learning skills with the integration of practical, project-based work in schools. 

However, the preschool segment is projected to manifest the highest CAGR of 16.3% from 2024 to 2032, owing to the technological advancements enable educators to collect assessment data directly on mobile devices, reducing the conventional use of paper and pen. Some of the assessments are eliminating data entry and letting children respond directly through touchscreen-enabled devices.

The consumer segment is expected to grow faster throughout the forecast period. 

Based on the end user, the business segment held the highest market share in 2022, accounting for two-fifths of the global edtech market revenue and is likely to retain its dominance throughout the forecast period, owing to increasing focus on corporate learning and professional development, as businesses recognize the importance of upskilling and reskilling their workforce to remain competitive in today’s rapidly changing economy. EdTech companies are responding by offering tailored solutions such as online courses, microlearning modules, and virtual training platforms designed to meet the specific needs of corporate learners. 

However, the consumer segment is projected to manifest the highest CAGR of 15.0% from 2023 to 2032, owing to the rise of online learning platforms and marketplaces offering a wide range of courses, tutorials, and educational content on virtually every subject imaginable. These platforms empower learners of all ages to pursue their interests, acquire new skills, and advance their careers from the comfort of their homes.

Asia-Pacific to maintain its dominance by 2032. 

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for three-fourths of the global edtech market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe, owing to the rapid adoption of online learning platforms and digital education solutions, driven by the region’s large and diverse population, increasing internet penetration, and growing demand for quality education. EdTech startups and established companies alike are leveraging this opportunity to offer innovative learning experiences, including live online classes, interactive content, and personalized learning pathways tailored to the cultural and linguistic diversity of the region. 

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Major Industry Players:

Think and Learn Private Limited Blackboard Inc. Chegg, Inc. Coursera Inc. EDUTECH INC edX Inc. Google LLC Instructure, Inc. Microsoft Corporation Udacity, Inc. 

The report provides a detailed analysis of these key players in the global edtech market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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DEFSEC Ships New BLISS (“Battlespace Laser Identification Sensor System”) To U.S. Army Yuma Test Center

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OTTAWA, ON, April 29, 2026 /PRNewswire/ – DEFSEC Technologies Inc. (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCW) (“DEFSEC” or the “Company”) today confirmed that it has now shipped two new networked BLISSTM systems to the United States Army Yuma Test Center (US Army YTC) for test and evaluation.

The BLISSTM shipment today to the US Army YTC follows delivery of an earlier version, called BLDS (Battlefield Laser Detection System) to the U.S. Army last year for testing and trial activity.  BLISSTM is an enhanced, networked version of BLDS as the next step in the evolution of the Company’s technology roadmap for battlespace laser detection and intelligence.

The patent-pending BLISSTM system alerts operators to laser activity across the battlespace, providing critical early warning and valuable seconds to assess, evade, defend, and deploy countermeasures. Miniaturized BLISSTM sensors can be mounted on vehicles and fixed infrastructure, or worn on personnel, to affordably blanket a battlespace with sensors for enhanced survivability and situational awareness and battlespace intelligence in contested environments.  It transforms laser warning into shared, actionable battlespace information.

Beyond real-time detection, BLISSTM incorporates enhanced laser pulse signature capture and analysis to help identify the source, intent, and affiliation of detected emissions.  By enabling users to distinguish among known signatures, the system supports faster, more informed tactical decisions.

“The BLISSTM system shipped today to Yuma for US Army testing represents a major step forward in tactical-edge force protection and actionable battlespace intelligence for commanders,” said Sean Homuth, President and CEO. “This capability will provide operators with critical time, better information, and a meaningful operational advantage against laser-enabled threats, including those seen in current Middle East conflicts.”

DEFSEC expects to brief domestic and foreign delegations on its BLISS product at Canada’s upcoming annual defence and security show, “CANSEC”, May 27 and 28, 2026, in Ottawa.

About DEFSEC

DEFSEC (TSXV: DFSC) (TSXV: DFSC.WT.U) (NASDAQ: DFSC) (NASDAQ: DFSCSW) (FSE: 62UA) develops and commercializes breakthrough next-generation tactical systems for military and security forces. The company’s current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users’ smart devices and weapons. Other DEFSEC products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems, and all come integrated with TAK. The company also has a new proprietary less-lethal product line branded PARA SHOTTM with applications across all segments of the non-lethal market, including law enforcement. The Company is headquartered in Ottawa, Canada.

For more information, please visit https://www.defsectec.com

Forward-Looking Statements

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian and United States securities laws (collectively, “forward-looking statements”), which may be identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “have sight of”, “believe”, or “continue”, the description of “optimism”, ” momentum” or “interest”,  the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking statements contain these terms and phrases. Forward-looking statements are provided for the purpose of assisting the reader in understanding us, our business, operations, prospects and risks at a point in time in the context of historical and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes. Such forward-looking statements are based on the current expectations of DEFSEC’s management and are based on assumptions and subject to risks and uncertainties that are documented in detail in the Company’s public filings. Forward-looking statements included in this include, but are not limited to: management’s belief of sufficiency of available financial resources to support forecasted activities in 2026 based on cash on hand, anticipated revenue streams and planned expenditures in the fiscal year, subject to execution of the Company’s operating plan and other risks and factors described  in its public filings; interest in DEFSEC LightningTM, BLISSTM or other products and services as well as timing of full implementation or commercial release thereof; the Company’s estimates of increases to annualized gross margin on a go-forward basis and extent thereof, if any; the stage of scaled production for the PARA SHOTTM technology into new training cartridges and timing of release thereof; and management’s belief that its extensive customer base of law enforcement agencies for ARWEN throughout North America is a ready market for its new products like PARA SHOTTM as well as DEFSEC LightningTM.

Although DEFSEC’s management believes that the assumptions underlying such forward-looking statements are reasonable, they may prove to be incorrect. The forward-looking statements discussed in this news release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting DEFSEC, including DEFSEC’s inability to execute on its current operating plan and/or fiscal 2026 forecasted activities, DEFSEC’s inability to secure contracts and subcontracts (on the timelines, size and scale expected or at all), statements of work and orders for its products in fiscal 2026 and onwards for reasons beyond its control, the renewal or extension of agreements beyond their original term, the granting of patents applied for by DEFSEC, inability to finance the scale up to full commercial production levels for its physical products, inability to secure key partnership agreements to facilitate the outsourcing and logistics for its ARWEN® and PARA SHOTTM products, inability to commercialize DEFSEC’s Battlespace Laser Identification Sensor System (BLISS), inability to secure or complete the execution of government contracts, inability to drive growth in DEFSEC’s ARWEN® product line, inability to advance the commercialization of DEFSEC’s PARA SHOTTM products, delay or inability to launch DEFSEC’s Lightning SaaS offering, lower than expected or delayed demand for DEFSEC’s BLISS, overall interest in DEFSEC’s products being lower than anticipated or expected; general economic and stock market conditions; a stagnation or decrease in North American defense and public safety spending, adverse industry events; future legislative and regulatory developments in Canada, the United States and elsewhere; the inability of DEFSEC to implement and execute its business strategies; risks and uncertainties detailed from time to time in DEFSEC’s filings with the Canadian Security Administrators and the United States Securities and Exchange Commission, and many other factors beyond the control of DEFSEC. Although DEFSEC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and DEFSEC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its respective Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE DEFSEC Technologies Inc

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SPX Cooling Tech Unveils the Marley® OlympusMAX™ Fluid Cooler

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Maximum Capacity. Trusted Performance.

OVERLAND PARK, Kan., April 29, 2026 /PRNewswire/ — SPX Cooling Tech, LLC announced the launch of the Marley® OlympusMAX™ Fluid Cooler, engineered to deliver unmatched performance, efficiency and design flexibility for mission-critical facilities. Designed to meet the evolving demands of data centers, industrial plants and high-density cooling applications, the OlympusMAX Fluid Cooler sets a new benchmark in dry and adiabatic cooling technology.

Built on a century of heat rejection expertise, the OlympusMAX Fluid Cooler brings a new level of performance in dry and adiabatic cooling.  It is available in both adiabatic and dry configurations. The bolt-on adiabatic module can be factory or field installed—or even installed after the equipment is operational in order to provide maximum flexibility in response to changing conditions and site demands.

As global data center density continues to expand, operators are increasingly seeking cooling solutions that balance performance, energy use, water use and operational flexibility. “OlympusMAX reflects our commitment to advancing cooling technology to support the evolving demands of mission-critical facilities,” said Dustan Atkinson, Director of Product Management for SPX Cooling Tech. “By offering scalable dry and adiabatic performance, engineered flexibility and streamlined installation, we’re helping facilities meet increasingly challenging demands while maintaining efficiency and long-term reliability.”

At the heart of the OlympusMAX adiabatic module is a patent-pending recirculating adiabatic design that significantly reduces blowdown, minimizing unnecessary water discharge while improving system efficiency. Unlike traditional once-through or spray systems, the unit’s recirculation technology delivers more uniform water flow across the pad – improving saturation efficiency, extending pad life and reducing mineral accumulation on critical components. The result is more predictable energy and water consumption – a critical advantage for performance-sensitive environments such as hyperscale data centers.

Engineered for uptime, the OlympusMAX features high-efficiency Marley Geareducer® gear drives, robust construction materials and integrated component redundancy, including mission-critical fan and VFD systems. With unit options ranging from 120 to 240 horsepower, the design maximizes cooling capacity per square foot, delivering industry-leading heat rejection density.

Installation and serviceability were key priorities in the system’s development. Each unit ships with a factory-assembled electrical access platform, single-point wiring connection, VFDs and PLC controls pre-installed, and full-size access doors with internal walkways. These features streamline installation while enabling safer operation and easier maintenance.

The launch underscores SPX Cooling Tech’s mission to provide flexible, high-efficiency heat rejection solutions across its full portfolio including dry coolers, adiabatic coolers, evaporative coolers, and cooling towers, ensuring customers have a single-supplier solution tailored to their operational strategy.

About SPX Cooling Tech, LLC
SPX Cooling Tech is a leading global manufacturer of cooling towers, fluid coolers, adiabatic and dry cooling systems, evaporative condensers, industrial evaporators and OEM aftermarket parts from brands that include Marley®, Recold® and SGS Refrigeration. Since 1922, our brands’ cooling systems, components and technical services have supported applications in heating, ventilation and air conditioning (HVAC), refrigeration, and industrial process cooling. SPX Cooling Tech and its product brands are part of SPX Technologies, Inc. For more information see www.spxcooling.com.

About SPX Corporation
SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Technologies has approximately 4,700 employees in 16 countries and is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

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SOURCE SPX Cooling Technologies

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AMTD’s TGE Reports Full Year Results with 27.7% Increase in Revenue, with 25.5% Increase in Total Assets and 9.1% Increase in Net Assets

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PARIS and LONDON and NEW YORK, April 29, 2026 /PRNewswire/ — The Generation Essentials Group (“TGE” or the “Company”) (NYSE: TGE, LSE; TGE), a NYSE and LSE dual-listed company and a subsidiary of AMTD Group Inc., today announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission, with summary highlights below:

Total Revenue increased by 27.7% from US$77.0 million to US$98.3 millionTotal non-GAAP Net Income increased by 3.2% from US$44.7 million to US$46.2 million Total Assets amounted to US$1,464.1 million (US$30.2/share)Net asset value amounted to US$839.1 million (US$17.3/share)

The annual report is available on the Company’s investor relations website at  http://thegenerationalessentials.com. The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to Investor Relations Office at ir@tge.media.

About The Generation Essentials Group

The Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L’Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties. Also, TGE is a special purpose acquisition company (SPAC) sponsor manager, with its first SPAC successfully raised and priced on December 18, 2025.

For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: ir@tge.media

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SOURCE The Generation Essentials Group

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