Report: Edu-tech spending to pass $67.8 billion in 2015
Worldwide spending on educational technology is skyrocketing, with Garnet forecasting the market will rise to $67.8 billion this year. This is a rise of 2.3 from 2014 — proof that the burgeoning edu-tech industry still has space to climb. In its report, Gartner singled out 10 areas that are fueling the surge in edu-tech spending, as reported by First Post. Those areas are:
- Adaptive textbooks
- Big data
- Adaptive learning
- Open microcredentials
- Digital assessment
- Mobile initiatives
- Sourcing strategies
- Social learning
- Customer relationship management (CRM) tools
As you can see from this list, the technology is not just intended to be used in the classroom or just by students. Streamlining the entire educational process is part of the technological push – from administrative tasks to teacher communication with parents. I think there is a misconception that “technology in schools” is just a bunch of kids using iPads or sitting at computer screens, when the reality is much more complicated. Things like cloud technology and social media are becoming increasingly important in our everyday lives and so it makes sense that K-12 classrooms would use these platforms too.
It will be interesting to see if edu-tech spending growth continues to rise year-over-year or if we will reach a period of stagnation worldwide. My guess is that as long as technology keeps evolving as quickly as it has in the past half-decade, edu-tech spending will break the $100 billion mark by 2020.
How important is the role of technology in your own classrooms? Are there any areas of edu-tech growth that you are surprised did not make this list?