Edutainment Market Overview:
The Edutainment market demand is projected to grow from USD 5.76 Billion in 2022 to USD 17.69 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 17.66% during the forecast period (2022 - 2030).
The term "Edutainment" was coined by combining the terms "education" and "fun." Aquariums, botanical gardens, zoos, science, and children's museums are examples of edutainment centres that are attended by children or their parents through field trips, and these venues combine educational elements with enjoyment or entertainment. As a result, edutainment centres are places where people may study while having fun.
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Key Players:
Key Companies in the Edutainment market include,
- Brightcove Inc.
- Tata Sons Private Limited
- KNeoMedia Limited
- KidZania Operations S.A.R.L.
Also, because we are living in the digital era, it is clear that education is increasingly being combined with entertainment models to keep millennials involved in the quality of education required to meet fresh problems on both a professional and personal level. Data is the currency, as well as technology is the means for extracting that huge quantity of money. Edutainment is a combination of education and pleasure that is highly received by people under the age of 25, who are more likely to utilize smart gadgets.
Regional Classification
Because of the existence of various telecommunication firms, the Asia-Pacific region is predicted to have greater market growth during the forecast period; also, economical and powerful internet access offers the foundation for Edutainment market development during the forecast time frame. An expanding number of applications in smart devices and gaming devices, as well as an increasing customer base for smartphones as well as smartphone-enabled online gaming platforms, are boosting the overall expansion of the Edutainment sector.
On the other hand, China is regarded as a key manufacturing base for online edutainment gear, resulting in an increase in the use of online gaming technology throughout the area. Furthermore, the Edutainment market has grown in recent years as educational institutions have become more aware of the potential advantages of the Edutainment sector.
Industry News:
This market's expansion is fueled by several factors.
- Ease of games development
- Global edutainment adoption
- Excellent platform for particular subjects like languages and history
- Greater investments by huge gaming and educational enterprises
- Improvement of children's social skills
The market's overall growth is being boosted by the integration of sophisticated technologies such as IoT, AI, machine learning, and other major technologies. The advancement of important skills is greater in these ways since the digital medium of the Edutainment sector is extremely engaging. Such reasons are regarded as the Edutainment industry's primary growth stimulants.
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The adoption of edutainment platforms for diverse disciplines increased investment by large educational as well as gaming enterprises, and acceptance of new technologies such as 3D animation, virtual reality, and the beautiful digital surface will all contribute to the edutainment industry's continued expansion. The edutainment business now accounts for roughly 65 per cent of educational technology sales.
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