Samil PwC "AI-Driven Edutech to Become a '1000 Trillion Won Market' by 2030"

Global Annual Growth of 15% Until 2030
"Korea Falls Behind the US, UK, and China
... Need to Establish a Public-Private Cooperation Ecosystem"

With the advent of generative artificial intelligence (AI), the education paradigm is rapidly changing, and it is projected that the global edutech market size could reach 1,000 trillion KRW as early as 2030. Edutech is a compound word of education and technology, referring to the integration of ICT such as AI, cloud, augmented reality, wearables, and the Internet of Things into education to improve learning environments and educational services.

On the 14th, Samil PwC Management Research Institute announced the publication of the report titled "The Revolution of Hyper-Personalized Learning Begins: Edutech."

Global Edutech Market Size [Data provided by Samil PwC]

According to this report, the global edutech market is expected to grow rapidly at an average annual growth rate of about 15% over the next six years, reaching 800 billion USD (approximately 1,068 trillion KRW) by 2030.

However, the level of edutech in Korea is still at an early stage. Currently, the United States is leading the market, followed by the United Kingdom, China, and India. The U.S. quickly introduced edutech into public education after enacting edutech-related laws in 1996. The report evaluated, "In the U.S., the number one edutech market, the government supported policies, and schools were given budgets and operational authority. This guarantee of autonomy influenced the expansion of the edutech ecosystem."

Edutech Industry Levels by Major Countries [Data Provided by Samil PwC]

Korea lags significantly behind leading countries in edutech in terms of ▲market growth potential ▲ecosystem ▲investment and mergers & acquisitions (M&A). This is understood to be due to the delayed digital transformation rate in educational settings. The domestic edutech market size is projected to grow from about 7.3 trillion KRW in 2021 to approximately 10 trillion KRW in 2025. The report stated, "The domestic edutech market has developed mainly around the private education sector rather than public education. It is characterized by sales concentrated among a few large operators," and added, "It is now time for active government support to promote market growth, ecosystem expansion, and investment activation," emphasizing that "an ecosystem where companies, government, schools, and institutions cooperate must be created."

This content was produced with the assistance of AI translation services.