By now there is no surprise to educators and administrators that the EdTech market is continuously growing but who actually keeps track of it and how has it contributed to student growth?

“The EdTech market totaled $8.38 billion in the 2012-13 academic year, the most recent year the Education Technology Industry Network has such information available,” according to The Atlantic.

“That number is up from $7.9 billion the year before, and up 11.7 percent from 2009, when the network began compiling these annual reports.”

Not only does the ETIN produce information on EdTech growth, it also contains some of the latest developments from companies who are making education a priority in their business model.

Schools are utilizing student management systems, targeted software, subject-specific (especially STEM) tools. The market is growing and ETIN is in the business of tracking that growth.

What makes the growth of the EdTech industry so important?

With growth in the industry comes a whirlwind of tools created with student improvement in mind. The more money available in the industry, the more companies are able to pour into product development and startup companies that are developing niche products that will aid students and educators.

“American EdTech companies raised a total of $1.36 billion last year, up from $1.2 billion in 2013,” according to the report.

The number made headlines as it showed an unprecedented amount of investment in education. Schools are also beginning to purchase products that they believe can help students get the best out of their education. It’s all about creating tools that make learning more efficient and better overall.

“More schools buying EdTech products means that more investors are pouring money into related startups,” according to the report.

“According to industry group EdSurge, American EdTech companies raised a total of $1.36 billion last year, up from $1.2 billion in 2013. For K-12 alone, investment grew 32 percent last year to roughly $642 million. Continuing that trend, K-12 investment had already totaled $679 million in the first half of this year alone.”

Read the full story.

Article by Navindra Persaud, Education World Contributor