|2In 2023, revenues of Vietnam's e-learning market are expected to reach around $3 billion with a compound annual growth rate of about 20.2 per cent during 2019-2023, according to a report by Ken Research. Photo: doanhnhansaigon.vn|
Hanoi – Experts are positive about the development of Vietnam's education technology (edtech) market in 2023 if local edtech companies can overcome post-pandemic challenges.
Pham Giang Linh, managing director of Galaxy Education told the Tuoi tre (Youth) newspaper that Vietnam's edtech market was formed in 2006 and 2007 – the first development stage of the digital economy 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.
In 2022, Vietnam saw the establishment of more than 100 edtech startups which strongly 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.
Local investors including Viettel, FPT, and VNPT also further invested in and expanded their e-learning services.
At the EDUtech Asia 2022 – Asia's largest education conference & exhibition – which took place in Singapore last November, international experts said major Edtech companies in the world are looking for new markets including Vietnam and other Southeast Asian countries.
In 2023, revenues of Vietnam's e-learning market are expected to reach around $3 billion with a compound annual growth rate of about 20.2 per cent during 2019-2023, according to a report by Ken Research, a market research and consulting firm based in India, Indonesia and UAE.
Huynh Kim Tuoc, director of Saigon Innovation Hub, Ho Chi Minh City's Sciences and Technology Department, said the number of people who own mobile phones and access the internet in Vietnam is higher than those in other countries in the region, which is an advantage that startups look to.
Truong Le Quynh Tuong, director of South East Asia at ClassIn, said that a factor that makes Ho Chi Minh City's edtech market attractive to investors is people's willingness to pay for education.
She said that the edtech market in the city in particular and Vietnam in general will continue to thrive as international companies from Singapore, Thailand, China, India, and the US are planning to jump in.
After the COVID-19 pandemic, technology application is an indispensable part of teaching/learning activities. The city's education department targets to digitalise 35 per cent of learning activities at schools, which is expected to maintain the use of technologies in education and training activities, she said.
- Vietnam-funded headquarters handed over to Lao committee
- Hanoi gives hand to celebrate 45th year of Vietnam-UK relations
- How the Vietnam War Brought High-Tech Border Surveillance to America
- Singaporean firm broadens STEM education model in Vietnam
- VinFast: behind Vietnam’s rapid-fire automotive dream
- Promoting sustainable energy cooperation between Vietnam and Australia
- Vietnam posts trade surplus of US$45 billion with G7 countries
- Vietnam should mainly export processed products to the US
- Vietnam Expo 2018 to be held in Hanoi
- Denmark to help Vietnam develop technology catalogue for power production
- Vietnam’s T&T Group sign agreement on cooperation in investment urban railway project
- How Vietnam tourism can capitalize on the promising Indonesian market
- Postcards from a poisoned coast: Vietnam's people-smuggling heartland
- Vietnam, RoK tighten financial cooperation
- Vietnam values ties with Cuba: Minister
- Court cooperation contributes to Vietnam-Laos relations
- Vietnam to suspend importing cryptocurrency mining rigs
- Global footwear giants shift sourcing from China to Vietnam
- Vietnam's EVN gets closer to issuing USD bonds
- Vietnam's First Car Brand Is a Hodgepodge of Opel and BMW Parts
2023 - Time for edtech to thrive in Vietnam have 582 words, post on vir.com.vn at February 1, 2023. This is cached page on Talk Vietnam. If you want remove this page, please contact us.