Deloitte and EduGrowth census reveals the Australian EdTech sector has almost doubled in two years, though remains far behind China and the US
During the 2020 Universities Australia conference in Canberra, Deloitte and EduGrowth released their 2019 Australian EdTech Census. It is estimated that 600 EdTech organisations currently operate in Australia. Despite this number having almost doubled in a two year period, it is reported that Australia occupies less than 5% of the Global EdTech market.
First launched in 2017, the Australian EdTech census aims to identify changes in the sector over a two year period. A total of 168 subjects responded to the survey. Deloitte Access Economics estimates that by 2030 there could be a skills shortage in the order of 29 million which represents a 25% increase on current shortages.
Two companies were singled out as having contributed to the valuation of the Australian EdTech market. These are G01, an online training marketplace and A Cloud Guru, which provides training on implementing cloud based technologies.
Key sections presented in the findings include:
- Population growth and skills are driving exponential demand
- Global markets are growing
- EdTech offers a solution to transform education
- Australia’s EdTech sector has momentum, but more needs to be done
- EdTech solutions targeting schools and universities lead but the future of work is gaining traction
The report concludes that a greater effort needs to be made to support and scale EdTech startups so Australia can compete on an international level.
“ This opens the door for EdTech solutions that use advanced technologies, such as AI, AR/VR, robotics and other innovations, to target specific learning needs and outcomes at speed and at scale… EdTech has the potential to address access, cost and teaching capacity issues. This includes education providers expanding to export markets and allowing increased access to internationally recognised qualifications. ” Colette Rogers, Deloitte Partner, National Education Sector Lead Member
The full report on the state of the Australian EdTech sector is available here:
You can read more about EdTech here: https://global-edtech.com/edtech-definitions-products-and-trends/