The Edtech sector is highly lucrative in size and prospects. The attempts are in full swing to make edutech highly interactive, resourceful, and result-oriented.
According to Allied Market Research’s incoming data, the game-based learning sector is expected to be worth $79.9 bn by 2031.
The game-based approach is already an integral part of the sector. Moreover, the incoming data are indicative of tremendous growth.
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Technological advances in the gaming industry are another driving force. The most impactful trends include augmented reality, 5G, and artificial intelligence.
North America is a dominant presence in the edutech. The region’s prominence is also expected to continue in the future.
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The education industry has recently seen a disruptive shift from traditional learning to interactive and personalized methods. Thanks to innovative ways imposed by new technology, digitization has progressively impacted education,
The utilization of technology in the education sector enables institutions to offer cutting-edge solutions, such as e-books, immersive content via augmented reality (AR)/virtual reality (VR), and online courses.
The covid-19 has been instrumental as a trend with maximum impact on the sector. The pandemic had imposed a wide range of restrictions which compelled many learning institutes and educational establishments to shift their operations online.
With regard to its current size and potential for growth, the edtech industry is highly profitable.