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Dailynewsegypt > Blog > Business > Size of global higher education technology market to reach $169bn by 2028: Global study
Business

Size of global higher education technology market to reach $169bn by 2028: Global study

Mohamed Alaa El-Din
Last updated: 2023/06/07 at 12:41 AM
By Mohamed Alaa El-Din 6 Min Read
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Size of global higher education technology market to reach $169bn by 2028: Global study
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Egypt hosted the fifth edition of the InnoXera Global Summit, organized by Classera and sponsored by the Ministry of Higher Education and Scientific Research, to discuss the future of innovation in education and training technologies. The summit was held in the presence of leaders and representatives of the ministries of higher education, scientific research, communications and planning. It provided serious opportunities to explore the latest Innovations in technology and artificial intelligence in education and training in the Middle East and Asia.

Artificial intelligence dominated the panel sessions during the InnoXera Global Summit in its fifth edition this year. A session was entitled “How Artificial Intelligence will change the form of education across the academic levels.” The summit also included sessions on the impact of artificial intelligence on vocational and higher education and job readiness and career development in the era of artificial intelligence, with the participation of experts and CEOs of the largest companies and educational platforms.

Studies and research confirm that technology plays an important role in improving the quality of education and enhancing student experience, as indicated by a report issued by the United Nations Educational, Scientific, and Cultural Organization (UNESCO), that there are more than 1.2 billion students in the world using distance learning technology.

During the Summit, the participants emphasized the leading role of Classera platform, which provides an integrated and effective educational experience that combines modern technology and best educational practices, complementing its prominent role in enhancing the e-learning experience and improving the educational performance of schools and universities as well as companies and government agencies.

The American “Holon IQ”, which specializes in global education market data, expects in its latest study that the size of the higher education technology market globally by 2028 will reach about $169.72bn, and indicated that the Middle East and North Africa includes 1,500 companies operating in the sector of education technology. Egypt occupies the first place in terms of the size and growth of this sector, followed by the UAE and Saudi Arabia. The field of work and skills development is the largest field in the sector and the most invested, followed by the field of services related to basic education, then university education, and ending with early childhood education.

The Summit reviewed the latest innovations and corporate solutions in the field of smart learning, in the presence of interested corporate leaders and decision makers. It discussed their expectations about educational and training technology trends and the application of artificial intelligence in education, now and in the future, after the summit succeeded in bringing together investors, decision makers, education leaders, teachers and researchers from all over the world to explore and adopt the latest smart learning innovations.

Mohammed Al-Madani, CEO of Classera, the global organization of the summit, said that the attendees from all government agencies and institutions and the private sector emphasize the importance of technology as a major player in the future of education and training, pointing out that the summit came to achieve the goals and paths of digital transformation.

He added: “The Summit chose Egypt to launch the activities of its fifth edition this year, for the first time, as a culmination of the Egyptian state’s efforts to keep pace with the massive technological revolution through the development and development of education, and promoting a culture of digital transformation and innovation, and the remarkable boom in the development of education mechanisms within the goals of the orientation of the strategic vision of Egypt 2030, and efforts to support investment in the educational sector and attracting international companies to invest in the education sector in Egypt.”

Sherif Kishk, Advisor to the Minister of Higher Education and Scientific Research for Smart Governance, said that the ministry is sponsoring the conference based on its role in applying modern technologies in education. The conference focused on artificial intelligence and education, in addition to discussing strategies that educational institutions can rely on to benefit from artificial intelligence.

Kishk added that there has been a major development during the recent period within the Egyptian work environment to benefit from this technology, as the Ministry of Higher Education in the past year alone established 12 fourth-generation universities that apply the latest technologies, and represent a fertile environment for these modern systems, and there are also 10 technological universities that can represent a working environment for modern technology.

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