Technology has seeped into every aspect of our lives including education in the form EdTech. Education technology is digital tools, software, and resources that enhance teaching, learning, and educational administration. According to a report by Grand View Research, the global EdTech market was valued at $142.37 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2030, and reach $348.41 billion by the end of the forecast period.
There has been a surge in popularity in the use of EdTech solutions by large firms and corporations to upskill or reskill their employees. According to a report by McKinsey, corporations like Amazon, Walmart, Target, and Google are investing heavily in workforce education and development programs. These initiatives are being taken in light of the tight labor market and a surge in unfilled job openings within the US. Companies have integrated workforce education and development programs with their diversity, equity, and inclusion initiatives. This has led EdTech companies to expand their enterprise offerings to meet the growing demand. Skillsoft Corp (NYSE:SKIL) is a prominent example of an EdTech company offering special services for upskilling, cloud transformation, enhancing security, and onboarding engineers for businesses.
In 2022, North America was the most dominant region in the global EdTech market, with a revenue share of over 36%. Investments from venture capitalists and private equity investors greatly contributed to the large share. The Asia Pacific region is expected to have the highest growth rate during the forecasted period.
Notable Companies In The EdTech Industry
Udemy Inc (NASDAQ:UDMY), Skillsoft Corp (NYSE:SKIL), and Coursera Inc (NYSE:COUR) are some of the noteworthy companies in the global EdTech industry.
Udemy Inc (NASDAQ:UDMY) was founded in 2010 and is headquartered in San Francisco. Udemy Inc (NASDAQ:UDMY) hosts a vast array of courses on a diverse range of topics, including technology, business, design, and personal development. On February 22, the company announced the release of its Q4 2023 Global Workplace Learning Index. The index highlighted the emergent skills in demand. The report is based on data collected from 16,000 Udemy Business customers worldwide. Gen AI skills and cybersecurity were among the top skills in demand.
Skillsoft Corp (NYSE:SKIL) is an American education technology company that provides cloud-based learning and talent management solutions. On February 20, the company announced the incorporation of generative AI into its technology skilling solution, Codecademy, for an interactive learning experience. With features like prompt engineering, code explanations, and mock interview simulation, learners can build critical technology skills effectively. The platform also offers expanded curricula to meet the growing demand for AI skills. Skillsoft Corp (NYSE:SKIL) aims to empower organizations and individuals to thrive in the evolving AI landscape.
Coursera Inc (NYSE:COUR) is a prominent EdTech company that provides learning solutions to students, academic institutions, and corporations. On February 1, the company reported earnings for the fiscal fourth quarter of 2023. Coursera Inc (NYSE:COUR) reported an EPS of $0.06, beating estimates by $0.06. The company's revenue for the quarter grew by 18.78% and amounted to $168.88 million, ahead of market consensus by $4.11 million. Here are some comments from the company's earnings call:
"Our fourth quarter marked a strong finish to a year of continued progress. We welcome 24 million new learners, the most since 2020, growing our global learner base to more than 140 million. We expanded our educator partnerships to over 325 leading universities and companies. We grew revenue 21% over the prior year, with total annual revenue of $636 million, and we achieved this growth with increased leverage, including our first positive adjusted EBITDA quarter, delivering on our commitment to build a platform and business model that scales. I remain encouraged by our momentum and am increasingly confident in our vision for the future of higher education."
A large number of students travel each year to a new country in hopes of a better education and career prospects. Let's take a look at the best countries to study abroad for international students.
15 Best Countries To Study Abroad For International Students
15 Best Countries To Study Abroad For International Students
Our Methodology
To make our list of the best countries to study abroad for international students, we have used the total number of internationally mobile students as our primary metric. The data for the metric was extracted from the UNESCO Institute For Statistics (UIS). The latest available data for the metric is for 2021. The number of internationally mobile students has a possible correlation with the attractiveness and suitability of a country for studying abroad. If a country has a higher influx of international students, it could indicate a variety of factors including the attractiveness of educational institutions, cultural diversity, language opportunities, networking, support services, and post-graduation prospects for international students. We have also added the count of the universities from each country mentioned in the QS World University 2024 Rankings. The rankings feature the top 1,500 institutions across the globe ranked based on factors including academic reputation, international student ratio, employment outcomes, and international research network.
15 Best Countries To Study Abroad For International Students
15. Spain
Total Inbound Internationally Mobile Students In 2021: 80,862
Count of QS 2024 Ranked Universities: 35
Spain is a popular destination for a large number of international students. The country has several prestigious universities that stand out for their academic excellence and research contributions including the University of Barcelona and the Autonomous University of Barcelona. In 2021, 80,862 international students entered Spain in pursuit of quality education.
14. Austria
Total Inbound Internationally Mobile Students In 2021: 82,083
Count of QS 2024 Ranked Universities: 8
Austria is one of the best countries to study abroad for international students. In 2021, the country experienced an influx of 82,083 international students. The country has some of the best universities in the world including the University of Vienna and the Vienna University of Technology.
13. Malaysia
Total Inbound Internationally Mobile Students In 2021: 92,519
Count of QS 2024 Ranked Universities: 28
In 2021, 92,519 international students came to Malaysia aiming to gain quality education. The country is home to 28 top-ranked universities according to the QS university rankings of 2024. Universiti Malaya, Universiti Teknologi Malaysia, and Universiti Sains Malaysia are some of the noteworthy universities in Malaysia.
12. Argentina
Total Inbound Internationally Mobile Students In 2021: 117,794
Count of QS 2024 Ranked Universities: 25
Argentina is home to several top universities that offer quality education and diverse academic opportunities. The Universidad de Buenos Aires and Universidad Austral are some of the best universities in the country. The year 2021 marked a substantial influx of 117,794 international students into the country.
11. Republic of Korea
Total Inbound Internationally Mobile Students In 2021: 118,528
Count of QS 2024 Ranked Universities: 43
The Republic of Korea is one of the best countries to study abroad for international students. The country has 43 out of almost 1,500 top universities in the world. Seoul National University and Korea Advanced Institute of Science and Technology are among the best universities in the country.
10. Netherlands
Total Inbound Internationally Mobile Students In 2021: 135,535
Count of QS 2024 Ranked Universities: 13
The Netherlands is a popular destination for international students. In 2021, 135,535 students came to the country to gain quality education. Delft University of Technology, University of Amsterdam, and Wageningen University & Research are some of the best universities in the country.
9. Japan
Total Inbound Internationally Mobile Students In 2021: 216,241
Count of QS 2024 Ranked Universities: 50
Japan is home to 50 out of almost 1,500 top-ranked universities in the world in 2024. Some of the best universities in the country include Tohoku University, the University of Tokyo, and Osaka University. The high number of quality institutions has made it a popular destination among international students.
8. China
Total Inbound Internationally Mobile Students In 2021: 221,653
Count of QS 2024 Ranked Universities: 71
China is one of the best countries to study abroad for international students. In the year 2021, the international student population in China amounted to 221,653. Universities in China are highly regarded for their academic excellence and research contributions in various fields. Some of the top universities in China include Tsinghua University, Peking University, and Shanghai Jiao Tong University.
7. Türkiye
Total Inbound Internationally Mobile Students In 2021: 224,048
Count of QS 2024 Ranked Universities: 25
Türkiye offers a high standard of education with world-renowned universities and a comprehensive education system that is internationally respected. Throughout 2021, the country welcomed and accommodated 224,048 international students. Istanbul University and Ankara University are among the top-ranked universities in the country.
6. France
Total Inbound Internationally Mobile Students In 2021: 252,856
Count of QS 2024 Ranked Universities: 35
France is home to several globally renowned universities including the University PSL and Sorbonne University. France is known for its rich language and culture, which attracts thousands of students every year. In 2021, the country hosted a total of 252,856 international students.
