The GCC EdTech Market is estimated to grow at a CAGR of around 8.12% during the forecast period, i.e., 2024-30.
Key Findings of the Study: GCC EdTech Market
GCC EdTech Market Driver: Economic Expansion Driving Increased Education Budgets
The GCC economies have witnessed a strong recovery from the slowdown caused by the pandemic and the decline in oil prices. To overcome the challenges, the regional governments introduced unprecedented reforms while emphasizing upon economic diversification and private sector participation. According to the IMF, the GCC nations grew by 7.5% in 2022, as compared to 3.4% in 2021. It is further expected to expand at a pace of 2.9% in 2024. This is attributed to the successful implementation of pandemic mitigation strategies, fiscal stimulus measures, positive business and tourism sentiment driven by mega events (EXPO 2020 Dubai and FIFA World Cup 2022), improving geo-political situation within the GCC in combination with the revival in oil natural gas prices resulted in a significant increase in the education budgets.
Also, as the global economy remains under pressure with new surprises, the reform momentum established by the GCC nations during the period of low oil prices are expected to increase the education budgets in the upcoming years, further contributing in enhancing the market size during 2024-2030.
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Scope of the Report and GCC EdTech Market Segmentation
By Education Type
-Study Curriculum-based
--K-12
--Higher Education
---Bachelors
---Masters
---Others (Fellowship, Researchers)
--STEM-based
---Corporates
---Business Management-based
---Accounting Finance
---Digital Marketing Advertising
---Human Resource Management
---Foreign Trade
---Retailing
---Others
-Others
--Language Learning
--Arts Craft
--Social-Emotional Learning
--Others
- Higher Education segment under Study Curriculum-based education type held a dominant share in the GCC Edtech Market over the historical years.
By Platform Type
-Pre-Recorded Online Course Platform
-Real Time Education Delivery Platforms
By Language of Delivery
-English
-Arabic
-Others
Top leading companies in the GCC EdTech Market includes:
Abwaab, Noon Academy, Al-Mentor, Orcas, Ostaz, Al-Gooru, Baims, Al-Academia, Zedny, Others
GCC EdTech Market Development
- 2023: Tassal Group Limited announced the acquisition of MPA Fish Farms Pty Ltd which operates as Australia’s only ocean-based barramundi farm at Cone Bay.
- 2023: Bakkafrost signed an agreement to build a big new hatchery in Skálavík, Faroe Islands to increase production capacity by nearly 7 million smolts, each weighing 500g.
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Geographical analysis:
The UAE
Saudi Arabia
Qatar
Oman
Bahrain
Kuwait
- Saudi Arabia held the dominant share in the GCC Edtech Market owing to the gradual integration of emerging technologies, such as AI ML in schools, colleges, and other educational institutions in the country.
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