Vietnam’s e-learning market projected to hit 3 billion USD by 2023
Vietnam’s e-learning market is expected to reach revenue of around 3 billion USD by 2023 with a compound annual growth rate of about 20.2 percent from 2019-2023, according to a report by Ken Research.
Vietnam's educational technology (Edtech) market is said to hold high potential and is drawing attention from investors, especially in the context of the COVID-19 outbreak and its complicated developments.
Vietnam was listed in the top 10 fastest growing Edtech markets globally, posting annual growth of 44.3 percent, according to the Vietnam Edtech Report 2021.
Last year, Vietnam moved from a "pandemic response education" status to "pandemic adaption education" amid the complicated developments of COVID-19.
According to observers, in 2022, Edtech will be the pioneer technology when the demand for technology platforms in education becomes high.
Pham Hong Quat, director of the Department of Market Development and Science and Technology Enterprises under the Ministry of Science and Technology, said Vietnam needs to promote "open innovation" to attract more resources in order to further promote the startup innovation ecosystem in general and the Edtech field in particular.
He also hoped that universities will become more "open", focusing on implementing cooperation agreements with foreign universities towards meeting the needs of businesses in the future.