Edtech is one of the fast-growing tech industries in the world. Global edtech revenues are expected to grow to US$605 billion (S$828.8 billion) by 2027, according to research firm Research and Markets. Indian edtech company, Byju’s, leads the pack with over US$800 million (S$1.09 billion) raised in its last funding round.
In 2018, Singapore families spent a total of S$1.4 billion on private tuition and enrichment classes to help their kids gain a competitive advantage. 95% of Singaporeans own a smartphone, and eight- to 12-year olds spend an average of 35 hours per week in front of digital screens.
The widespread use of mobile phones presents edtech companies with business opportunities to cater to the growing demand for education in Singapore. Not to mention, edtech companies are playing an increasing role in ensuring the continuity of learning during this Covid-19 pandemic.
As Singapore aims to promote lifelong learning through its Smart Nation initiative, the adoption of edtech and online-based learning will only become more prevalent. An industry-led coalition, the Alliance for Action on EduTech, came up with four initiatives in 2021 to position Singapore as a global talent hub in the field: ZilLearn Skills, Agility Growth Index, WorkGuide.co and eduCLaaS Academy.
As Singapore’s edtech landscape continues to mature, we’ll keep this page updated with the latest edtech news, reports, and resources.