Global Edutainment Market Size, Share, Trends & Analysis 2020-2027
The Global edutainment market was valued at USD 3.24 Billion in 2019 and it is expected to reach USD 10.16 Billion by 2027, growing at a significant growth rate of 8.55% since the last few years as the traditional education system is upgrading itself through a more modern approach. Edutainment is a concept of combining education and entertainment to make learning an interesting task for students. There are several companies offering products that provide edutainment, the edutainment is not restricted to Products only but can also be provided at places such as science exhibitions, children’s parks, and museums, archaeological sites among others.
Mini major companies are developing gaming-based learning platforms that help the students to understand theoretical concepts through interactive games. These platforms utilize Technology such as 3D animations, artificial intelligence, machine learning, Augmented reality, virtual reality, and others to develop highly interactive edutainment programs.
The Global edutainment market can be bifurcated based on giving tight into interactive, non-interactive, explorative, hybrid, or combination types. The explorative segment dominated the market in 2019 and it is expected to continue to lead the market over the forecast period. The interactive gaming segment is expected to emerge as the fastest-growing segment in the edutainment industry between 2020 to 2030.
Based on gaming type the market has been segmented into Interactive, Non-interactive, Explorative, and Hybrid. The interactive gaming segment is growing at a substantial growth rate since the last few years, the emergence of advanced gaming technologies such as virtual reality, augmented reality are used to provide edutainment to the users. For example, a virtual library created using AR, that showcases all books, journals in a digital format just like the real books & library. Another practical example of AI in edutainment is creating an AR model of the human body to digitally showcase students about various human body parts, their functioning & their internal structure. The possibilities are unlimited for this technology, therefore companies from around the world are eying upon the education sector for offering an AI-based solution.
The explorative edutainment market is the highest revenue-generating segment, it includes providing educational information through museums, zoos, aquariums, etc. However, due to increasing awareness towards animal welfare, many people oppose the zoo’s & aquariums and prefer reserved sanctuaries for exploring wildlife. The need for skilled labor, high maintenance costs are affecting the growth of this segment. Moreover, stringent government regulations to preserve animal species and prevent animal cruelty are further impacting the market growth.
The global edutainment market has been segmented based on the revenue type into, Entry fees and tickets, Food and beverages, Advertising, Merchandising, and Other. The entry fees and tickets are by far the highest revenue-generating segment in the global edutainment market. Companies offer group buy discounts, coupons to attract customers and increase their market share. Many companies provide membership cards that can be used in future visits, this creates brand loyalty as well as helps generate recurring revenue. For instance, KinderCity offers a card that can be credited with points to enjoy various games, once the points are over the user needs to recharge the card from the counter.
The advertisement segment is emerging as the fastest-growing segment, due to technological augmentation, the edutainment industry has become a lucrative advertising medium especially for companies offering products to children.
Based on demography the market has been segmented into Children, Teenagers, Youngsters, and Adults. Children are the largest segment by demography for the edutainment industry. The segment is expected to grow at a CAGR of 16.55% between 2020 to 2027. Growing demand for interactive education to enhance knowledge is driving market growth.
The teenage segment is growing at the fastest CAGR as the teenagers are more enthusiastic towards interactive AR, VR, and mixed reality-based edutainment.
Based on leading geographical regions in the edutainment industry, the Asia Pacific is anticipated to gain significant market share by 2027, the growth can be attributed to the higher number of millennials population using smart devices such as smartphones and tablets. Moreover, the Region is also one of the prominent edutainment content providers in the world. Supportive digital education policies by the government of developing countries such as India have benefited the regional market growth. The Indian government has come up with various schemes to implement digital education in all schools such as the distribution of free laptops, desktops, and tablets along with the Wi-Fi facility to economically challenged students.
North America is the world’s largest edutainment market, high per capita income, developed education sector and high technology adoption rate Are few parameters responsible for the North American market growth. The Europe region is growing at a moderate pace, the Covid-19 has significantly impacted the education sector in Europe, all the schools and colleges were shut down during the lockdown due to the coronavirus pandemic. The market is expected to regain the normal growth rate by Q2 2021.
North America is the largest market for all types of edutainment systems, the region has a high technological adoption rate, availability of major edutainment IT providers, and high investment in education facilities. However the Asia-pacific region is anticipated to emerge as the most promising market for the entertainment industry in the next 10 years, the growth can be attributed to the increasing penetration of software in the Indian and Japanese markets.
Following is the list of the world’s largest edutainment companies mentioned in this report:
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