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Report Estimates U.S. EdTech at $8.38 Billion

The Education Technology Industry Network (ETIN) of the Software & Information Industry Association (SIIA) released its annual report which estimates an evaluation for the EdTech industry in the United States. 

The “2014 U.S. Education Technology Industry Market: PreK-12 Report” covers any and all EdTech outside of hardware, which includes apps, online learning solutions and more, estimates that the entire EdTech market is worth $8.38 billion. This shows not only a tremendous amount of growth within the industry, but within K-12 education itself. The trend shows no signs of stopping. 

According to the release, 144 publishers and solution providers willingly offered information and insight to produce the data, which in turn help paint a more accurate picture of what the EdTech landscape looks like. The latest report is the fourth to come out, with the three prior reports acting as a base for tracking EdTech trends. 

“The rapid growth of the testing and assessment market will slow, but remain an important area of investment in school districts and states. Digital assessments and interest in personalized learning contribute to this growing market,” said report author and CS4Ed president John Richards in a press release. “There was a substantial investment in infrastructure. We attribute this to increased hardware in schools from district investment, BYOD and preparation for digital common core assessments."

Online course went up in revenue by 320 percent, and the testing and assessment segment of the market came in at a whopping $2.5 billion on it’s own, which makes up over a quarter of the recorded revenue of the entire report. 

“We are very happy that our fourth report generated such great responses and participation from within the industry,” said vice president and managing director of ETIN-SIIA Karen Billings said in the release. “The results from this year’s survey also show the steady and encouraging growth in the EdTech industry.”

An executive summary of the report can be found here, and the full story here

 

Article by Jason Papallo, Education World Social Media Editor
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Copyright © 2015 Education World

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