The education technology market has been forecast to increase at a compound annual growth rate (CAGR) of 14% over the next five years, increasing from a valuation of $31.3 billion at the beginning of 2013, to a total of almost $60 billion by 2018.
Educational technology is the study and ethical practice of facilitating e-learning, which is the learning and improving performance by creating, using and managing appropriate technological processes and resources.
Technology in education is most simply and comfortably defined as an array of tools that might prove helpful in advancing student learning and may be measured in how and why individuals behave.
Education technology engulfs innovations that help educational institutions or universities employ the large amounts of data and interactions across various students engaged in different systems such as Learning Management Systems (LMS), Student Information Systems (SIS) and Student Response Systems (SRS).
Recently, numerous new tools have been developed which help educators and instructors to keep a track of the progress of the students and advise them when needed. These are further augmented by social, mobile and video learning.
In recent times, there has been a significant growth in smart classrooms. A smart classroom is equipped with multimedia components which are designed to enrich the teaching and learning process. Technology in education has played a significant role in educating and connecting the students to the existing and future learning opportunities.
Smart classrooms have been enhanced with advanced technological learning aids, thereby revolutionising the whole teaching and learning process. In many impoverished districts and states, technology has allowed students to experience world-class education and actively participate in advanced placement courses.
The latest tools that are in the limelight are smartphones, interactive whiteboards, projectors, collaboration solutions, dashboards, gamification tools and many more available both online and offline and are drawing serious attention to develop the learning potential among students and teachers.
Education technology also enhances special education for disabled students with visual and audio impairments by placing together a very complex technology solution for a student believing in patience, determination, creativity and team approach.
Key players currently dominating the education technology market include Apple, Blackboard, Discovery Communication, Dell, Dynavox Mayer-Johnson, HP, Jenzabar, IBM and Toshiba.
For more information on the education technology market, see the latest research: Education Technology Market
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