Vietnam’s educational technology (edtech) or e-learning market is expected to reach around US$3 billion in revenue by 2023 as a result of the Covid-19 pandemic and growing interest in new digital learning formats in the country from investors. The industry has grown at a compound annual growth rate of 20.2 percent since 2019, according to a report by Indian market intelligence firm Ken Research, cited by Vietnam News Agency. According to the Vietnam EdTech Report 2021, Vietnam is listed as the top 10 fastest growing EdTech markets globally. Vietnam has experienced a new education…
Vietnam’s educational technology (edtech) or e-learning market is expected to reach around US$3 billion in revenue by 2023 as a result of the Covid-19 pandemic and growing interest in new digital learning formats in the country from investors.
The industry has grown at a CAGR of 20.2% since 2019, vietnam news agency Quoted from a report by Indian market intelligence firm Ken Research.Globally, Vietnam is listed as the 10 fastest-growing edtech markets, according to Vietnam Education Technology Report 2021.
Vietnam has gone through a new education and training process as the Covid-19 pandemic forced schools, universities and colleges to close. In 2021, as the country transitions from a “pandemic response education” status to a “pandemic response education” status as Covid-19 develops, this year will look to pioneer technology as demand for digital learning platforms increases.
“Open Innovation” for Digital Learning
Pham Hung Kwe, director of the Ministry of Science and Technology’s Department of Market Development and Technology Enterprises, pointed out that the country should promote “open innovation” to attract more resources into the entrepreneurial innovation ecosystem and education technology. specific. He also hoped that universities would focus on implementing cooperation agreements with foreign universities in this field.
By the end of 2021, the Ministry of Education installed internet connections in 1,000 educational institutions to facilitate online learning, and the installation of the remaining target facilities was completed in January this year. Regarding students and students, only about 8 million households currently do not have access to fiber optic cable internet service, and this connection should be available to all households in Vietnam by 2025.
Free computer, lower tuition
Another pilot project has handed over more than 100,000 computers to help students learn online while reducing online tuition fees for some groups of students. So far, Vietnam has developed six online learning platforms, which are used by about 10 million students.
These efforts are part of Vietnam’s national digital transformation plan launched in 2020, which prioritizes digital education and training. According to the ministry, under the strategy, the government aims to use technology to “help deliver better quality services, support effective decision-making, develop better policies, optimise resources and aid socio-economic development”.
