The impact of Edtech: strengths and opportunities

Abstract

The introduction of advanced digital technologies and digital transformation is fundamental for the economic growth and development of companies, states and society. Today, the traditional model of education is also undergoing changes as a result of the introduction of new digital technologies, digital methods and approaches to learning. The relevance of this study is due to the fact that digital transformation in the field of education is the most prominent example of qualitative transformation of life activities. The outcome of this digital transformation is the formation of a new sector of the digital economy called EdTech (Education Technology). The purpose of this study is to analyse the global EdTech market and to examine its strengths and development prospects. Research methods: theoretical approach, analysis, study of scientific literature, specification of conclusions, method of thinking, and visual interpretation of the results obtained. As part of this research, the authors have defined EdTech; examined the application of digital technologies in EdTech, and studied the impact of digital technologies on the development of EdTech. The authors also investigated the dynamics of venture capital investment in EdTech; researched EdTech leaders and identified key EdTech sectors.