In 2023, revenues of Vietnam’s e-learning market are expected to reach around 3 billion USD with a compound annual growth rate of about 20.2% during 2019-2023, according to a report by Ken Research (Photo: doanhnhansaigon.vn) Hanoi (VNA) – Experts are positive about the development of Vietnam’seducation technology (Edtech) market in 2023 if local Edtech companies canovercome post-pandemic challenges.
PhamGiang Linh, managing director of Galaxy Education told the Tuoi tre (Youth) newspaper that Vietnam’s Edtechmarket was formed in 2006 and 2007 – the first development stage of the digitaleconomy in the country, but it only attracted wide attention in the period from 2020-2021, when demand for e-learning increased sharply due to the COVID-19 pandemic.
In2022, Vietnam saw the establishment of more than 100 Edtech startups whichstrongly attracted capital from foreign investors, he said, citing examples like Topica, ELSA, ColderSchool, Edmicro, Vuihoc, and Educa, which attracted from millions to tens of millions of USD.
Localinvestors including Viettel, FPT, and VNPT also further invested in and expandedtheir e-learning services.
Atthe EDUtech Asia 2022 – Asia’s largest education conference & exhibition– which took place inSingapore last November, international experts said major Edtechcompanies in the world are looking for new markets including Vietnam and otherSoutheast Asian countries.
In2023, revenues of Vietnam’s e-learning market are expected to reach around 3billion USD with a compound annual growth rate of about 20.2% during 2019-2023, according to a report by Ken Research, a market research and consulting firm based in India, Indonesia and UAE.
HuynhKim Tuoc, director of Saigon Innovation Hub, Ho Chi Minh City’s Sciences andTechnology Department, said the number of people who own mobile phones andaccess the internet in Vietnam is higher than those in othercountries in the region, which is an advantage that startups look to.
TruongLe Quynh Tuong, Director of South East Asia at ClassIn, said that a factor thatmakes Ho Chi Minh City’s Edtech market attractive to investors is people’swillingness to pay for education.
Shesaid that the Edtech market in the city in particular and Vietnam ingeneral will continue to thrive as international companies from Singapore,Thailand, China, India, and the US are planning to jump in.
Afterthe COVID-19 pandemic, technology application is an indispensable part ofteaching/learning activities. The city’s education department targets todigitalise 35% of learning activities at schools, which is expected to maintainthe use of technologies in education and training activities, she said./.
